The global electric vehicle charging infrastructure market size is expected to reach USD 144.22 Billion in 2028 and register a revenue CAGR of 32.6% over the forecast period, according to the latest report by Reports and Data. Increasing adoption of electric vehicles across the globe, coupled with rising need to develop EV charging infrastructure are major factors driving revenue growth of the global electric vehicle charging infrastructure market.
Governments of various countries across the globe are focusing and investing in developing electric vehicle charging infrastructure which is expected to create revenue opportunities for Original Equipment Manufacturers (OEMs) and to expand their businesses. Asia Pacific and Europe markets are expected to account for larger revenue shares in the global market owing to high adoption electric vehicles to curb level of air pollution and emission of greenhouse gases (GHGs). However, high cost required in the initial investment, overhaul, and maintenance is a major factor that could hamper market revenue growth to some extent. Reduction in air pollution, greenhouse gas emissions, and less oil requirement from the transport sector due to adoption of electric vehicles are expected to lead to a breakthrough in the transportation sector in the years to come.
The EV30@30 project is a policy case emphasizing higher adoption of Electric Vehicles (EVs) in line with the EV30@30 campaign, which started at the Eighth Clean Energy Ministerial in the year 2017. The campaign set the combined ambitious target for all EVI (Electric Vehicle Initiative) members of 30.0% share for EVs in total vehicles (excluding two-wheelers) by the year 2030. Under the EV30@30 scenario, electric vehicle sales are expected to reach 44 million vehicles/year by 2030. Such initiatives by government of various countries is expected to continue to drive revenue growth of the global electric vehicle charging infrastructure market.
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The global push for electric vehicles (EVs) has led to increased investments in charging infrastructure by governments worldwide. This investment is creating significant opportunities for original equipment manufacturers (OEMs) and companies involved in electric car charging infrastructure to expand their businesses and generate higher revenue.
The introduction of strict regulations aimed at reducing air pollution and greenhouse gas emissions has further incentivized the use of EVs. Governments are implementing policies such as emission standards and incentives for EV adoption, which are driving the global demand for EV charging infrastructure.
To meet the growing demand and improve the charging experience, major industry conglomerates are focusing on research and development activities to develop innovative technologies.
Top Companies Operating in the Global Electric Vehicle Charging Infrastructure Market:
Chargepoint, Inc., ABB Ltd., Tesla Inc., BP Chargemaster, EVGO Services LLC, Semaconnect Network, Greenlots, EV Connect, Electrify America LLC, and Opconnect, Inc.
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Vehicle-to-Grid (V2G) Charging: This technology allows EVs to not only consume electricity but also feed it back into the grid. It enables bidirectional energy flow, enabling EVs to act as a source of power during peak demand periods or in emergency situations.
Mobile Charging: Mobile charging solutions involve portable charging units that can be deployed to provide on-the-go charging for EVs. This technology is particularly useful in areas with limited or no fixed charging infrastructure.
Wireless Charging: Wireless charging eliminates the need for physical connections between the charging station and the EV. It utilizes inductive or resonant technologies to transfer power wirelessly, providing convenience and ease of use for EV owners.
Ultra-Fast Charging: This technology aims to significantly reduce charging time by delivering higher power to the battery. Ultra-fast charging stations are capable of providing a substantial charge in a short amount of time, enhancing the practicality and convenience of EVs
New Battery Technologies: Advancements in battery technology are crucial for improving the range, charging speed, and overall performance of EVs. Companies are investing in the development of solid-state batteries, higher energy-density batteries, and other breakthrough technologies to enhance the capabilities of EVs.
The global market is further segmented into type and application:
Infrastructure Provider Outlook (Revenue, USD Billion; 2018-2028)
- Charging Point Operator
- E-Mobility Service Provider
- Charging Hubs
Charging Infrastructure Type Outlook (Revenue, USD Billion; 2018-2028)
- CCS
- CHADEMO
- Normal Charging
- Tesla Supercharger
- TYPE-2 (IEC 62196)
Charging Level Outlook (Revenue, USD Billion; 2018-2028)
- Level 1 (120 V)
- Level 2 (208 V – 240 V)
- Level 3 (UPTO 600 V)
Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)
- Electric bike
- Plug-in hybrid PHEV
- EV passenger cars
- Heavy delivery vans
- Others
Installation Type Outlook (Revenue, USD Billion; 2018-2028)
- Portable Charger
- Fixed Charger
Application Outlook (Revenue, USD Billion; 2018-2028)
- Public
- Private
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Takeaways of the Competitive Overview Section:
- Overview of the company profiles of each market player
- Industrial chain analysis of each player
- Revenue share contribution
- Sales network and distribution channels and net profits and losses of each company
- Key business growth strategies are undertaken by these players
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