Electric Vehicle Charging Infrastructure Market by Installation, Vehicle Type, Standard, Charging Station

Description

List of Tables

[199 Pages Report] The Electric Vehicle Charging Infrastructure Market size was estimated at USD 14.81 billion in 2023 and expected to reach USD 21.06 billion in 2024, at a CAGR 45.50% to reach USD 204.63 billion by 2030.

The electric vehicle (EV) charging infrastructure constitutes the network of charging equipment and electrical supply necessary to replenish the batteries of electric vehicles effectively. The electric vehicle (EV) charging infrastructure is critical in fueling the rising adoption of EVs, a critical aspect of sustainable transportation efforts. As environmental concerns drive a shift away from fossil fuels, robust electric charging networks become essential to consumer confidence and the practicality of EVs. A combination of favorable government policies and environmental imperatives propels the electric vehicle (EV) charging infrastructure market forward. However, the market confronts challenges such as sizable initial investments, the need for standardized cross-compatibility among chargers, and unequal distribution. Besides the hindering factors, public investments and incentives accelerate the deployment of diverse charging solutions, from home units to expansive public and fast-charging stations, creating lucrative opportunities for the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 14.81 billion
Estimated Year [2024]	USD 21.06 billion
Forecast Year [2030]	USD 204.63 billion
CAGR (%)	45.50%

Installation: Increasing deployment of residential EV charging infrastructure with growing adoption of EVs by consumers

Commercial electric vehicle (EV) charging infrastructure plays a pivotal role in facilitating the widespread adoption of EVs. It typically includes Level 2 and DC Fast Charging (DCFC) stations strategically situated in public areas such as shopping centers, parking lots, and major highways. The installation considerations for commercial charging stations are multifaceted, and chargers need to be easily reachable and well-distributed. Furthermore, commercial stations require robust electrical systems to support high-power charging and should be networked to allow for usage tracking and dynamic pricing. Planning must also take into account future scalability as EV adoption rates continue to increase. The integration of renewable energy sources, such as solar canopies, may also be considered to offset energy demands and contribute to a greener charging solution. Residential EV charging infrastructure predominantly comprises Level 1 and Level 2 chargers, with the latter being more common due to faster charging times. Installation of residential charging stations requires careful evaluation of the existing electrical system of the home to ensure it can handle the additional load. It may also necessitate upgrading to a higher-capacity electrical panel or the installation of a dedicated circuit. For those residing in multi-dwelling units such as apartment complexes or condominiums, shared charging stations are an emerging trend, which poses unique challenges in terms of billing systems, equitable access, and parking arrangements. Ensuring the infrastructure can handle multiple simultaneous charges without overloading the system is essential.

Vehicle Type: Rising development of battery electric vehicles (BEVs) to reach sustainability goals

Battery electric vehicles, commonly referred to as BEVs, are purely electric vehicles that fully rely on their rechargeable battery packs as their sole source of energy. Unlike conventional internal combustion engine vehicles, BEVs do not utilize fossil fuels and, therefore, emit no tailpipe pollutants. This clean energy approach makes BEVs highly efficient and environmentally friendly, contributing to reduced air pollution and greenhouse gas emissions. BEVs require a robust and accessible charging infrastructure to meet their refueling needs, which can include various levels of charging stations, such as Level 1, Level 2, and DC Fast Charging (direct current for rapid charging capabilities). As the market share of BEVs increases, charging infrastructure must evolve to support longer driving ranges, shorter charging times, and a growing user base without creating bottlenecks or overloading grid capacity. Plug-In hybrid vehicles, or PHEVs, combine an internal combustion engine with a rechargeable battery and electric motor, giving the driver the option to drive using electric power only, combustion power, or a blend of both. This dual nature allows PHEVs to leverage the benefits of battery power for shorter trips while maintaining the extended range capability of gasoline or diesel fuel for longer journeys, thereby helping to alleviate range anxiety associated with BEVs. PHEVs require a charging infrastructure that accommodates their unique hybrid needs. While PHEVs often have smaller battery capacities compared to BEVs, they still benefit from convenient access to Level 1 and Level 2 charging stations, which can fully charge their batteries within a reasonable timeframe. The widespread development of charging infrastructure that equally supports both BEVs and PHEVs is instrumental in the transition towards a more energy-diverse and sustainable automotive industry.

Standard: Higher potential for Tesla Supercharger network with increasing adoption by automakers

The combined charging system (CCS) is a standard for charging electric vehicles that allows for both AC and DC charging, using a single connector and is backed by major European and American automakers, it is widely adopted in the United States and Europe. The CCS standard supports high-speed DC charging, which is essential for long-distance travel as it can significantly reduce charging times. CHAdeMO is a quick charging method originating from Japan and utilizes a distinct connector for DC fast charging. This protocol offers significant international deployment, especially in Japan, and is supported by manufacturers. Despite its widespread early adoption, CHAdeMO's prevalence in new installations is decreasing outside of Japan, due to the growing support for the CCS standard. The GB/T standard is China's national standard for electric vehicle charging, covering both AC and DC charging types. The GB/T standard has different connectors for AC and DC charging, and the DC connectors are capable of high-power charging. International Electrotechnical Commission (IEC) 62196, also known as "Type 2," is a standard for AC charging primarily used in Europe. It is the foundation for the plug used in the CCS system for AC charging and is characterized by its versatility, as it allows charging at various power levels. This flexibility makes the Type 2 plug a de facto standard for residential and public charging stations across the European Union. SAE J1772, commonly referred to as the J-plug, is the North American standard for electrical connectors for electric vehicles. It supports Level 1 and Level 2 AC charging and is adopted across the US and other countries that rely on American vehicle standards. The plug is universally accepted by all electric vehicles in North America, making it a cornerstone of the region's charging infrastructure. Tesla Supercharger network is proprietary DC fast-charging technology developed by Tesla Motors for their electric vehicles. It provides Tesla owners with convenient and rapid charging capabilities, reducing charge times considerably. Although the Supercharger network is exclusive to Tesla vehicles, the company has signaled an intent to open its network to other manufacturers, which could significantly impact the EV charging landscape.

Charging Station: Rapid deployment of AC charging stations to support light-duty and select medium-duty applications

AC (Alternating Current) charging stations, commonly referred to as Level 1 and Level 2 chargers, provide a cost-effective and widely compatible solution for charging electric vehicles (EVs). These stations are frequently used at home and in public settings, such as parking lots and workplaces. Level 1 chargers operate on a 120V household outlet and deliver slower charging speeds, typically suitable for overnight use. Level 2 stations require a 240V setup and offer faster charging, filling an EV battery in a few hours, making them more convenient for commercial and more intensive residential use. DC (Direct Current) charging stations, also known as fast chargers or Level 3 chargers, are the fastest type of EV charging stations currently available. They convert AC power to DC within the charging station and deliver it directly to the vehicle's battery system, allowing for rapid battery charging. This type is most commonly found along highways and in areas where quick charging is necessary. However, DC stations are significantly more expensive than AC stations due to their complex infrastructure requirements and higher power delivery. Compatibility with vehicles varies, and they can charge a significant percentage of an EV battery in approximately ranging from less than 20 minutes. Inductive charging stations, also known as wireless charging systems, use electromagnetic fields to transfer energy between two coils, one housed within the charging station and the other within the EV. This technology allows for the convenience of charging without cables but typically has lower efficiency and higher costs compared to traditional wired charging solutions. The integration of inductive charging is still in the early stages, and while it offers potential for seamless integration into infrastructure such as roads and parking spaces, widespread adoption is limited by current technology and cost constraints.

Regional Insights

The electric vehicle charging infrastructure market in the Americas is experiencing robust growth, driven by the increasing adoption of electric vehicles, particularly in the United States. The U.S. government's support through incentives for EV adoption and infrastructure development has been pivotal for the market expansion in the region. Europe leads the EMEA region with a well-established EV infrastructure owing to rigorous environmental policies and strong government support. Europe, being the major region, shows a high penetration of EV charging networks owing to the presence of significant EV companies. The Middle East, although in a nascent stage, is starting to invest significantly in EV infrastructure, aligning with their diversification from oil-based economies. The Asia-Pacific region is experiencing a rapid expansion in its EV charging infrastructure, primarily driven by countries including China and India, which investing heavily in technology innovation and infrastructure deployment. The market growth in this region is further supported by governments' initiatives in countries including Japan and South Korea, the growing presence of EV manufacturers, and rising demand for EVs among the bolstering population.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Vehicle Charging Infrastructure Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Electric Vehicle Charging Infrastructure Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Key Company Profiles

The report delves into recent significant developments in the Electric Vehicle Charging Infrastructure Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., AeroVironment, Inc., Alfen N.V., Allego, Inc., Beam Global, Blink Charging Co., BYD Company Ltd., ChargePoint Inc., ENGIE SA, EVBox B.V., EVgo Services LLC, Fastned B.V., Leviton Manufacturing Company Inc., NaaS Technology Inc., NIO LIMITED, Schneider Electric SE, SemaConnect, Inc., Shell International B.V., Siemens AG, Stellantis NV, Tesla, Inc., TotalEnergies SE, Wallbox Chargers, S.L., Webasto SE, and XPENG European Holding B.V..

Market Segmentation & Coverage

This research report categorizes the Electric Vehicle Charging Infrastructure Market to forecast the revenues and analyze trends in each of the following sub-markets:

Installation
- Commercial
- Residential

Vehicle Type
- Battery Electric Vehicle (BEV)
- Plug-In Hybrid Vehicle (PHEV)

Standard
- CCS
- Chademo
- GB/T
- IEC 62196
- Sae J1772
- Tesla Supercharger

Charging Station
- AC Charging Station
- DC Charging Station
- Inductive Charging Station

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

The report offers valuable insights on the following aspects:

1. Market Penetration: It presents comprehensive information on the market provided by key players.

2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.

3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.

4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.

5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.

The report addresses key questions such as:

1. What is the market size and forecast of the Electric Vehicle Charging Infrastructure Market?

2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Electric Vehicle Charging Infrastructure Market?

3. What are the technology trends and regulatory frameworks in the Electric Vehicle Charging Infrastructure Market?

4. What is the market share of the leading vendors in the Electric Vehicle Charging Infrastructure Market?

5. Which modes and strategic moves are suitable for entering the Electric Vehicle Charging Infrastructure Market?

Product Code: MRR-430D42AA1057

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Growing Concern over Carbon Emission from Vehicles
  - 5.1.1.2. Increase Adoption of Electric Vehicles
  - 5.1.1.3. Government Regulations, Subsidies, and Tax Exemptions to Promote the Adoption of EVs
- 5.1.2. Restraints
  - 5.1.2.1. High Cost Associated with the Setup Coupled with the Space Requirements & Uncertainty Related to Electricity
- 5.1.3. Opportunities
  - 5.1.3.1. Early-Stage Development
  - 5.1.3.2. Declining Cost of the Lithium-Ion Battery
- 5.1.4. Challenges
  - 5.1.4.1. Emergence of Hydrogen Fuel Cell Vehicles
5.2. Market Segmentation Analysis
- 5.2.1. Installation: Increasing deployment of residential EV charging infrastructure with growing adoption of EVs by consumers
- 5.2.2. Vehicle Type: Rising development of battery electric vehicles (BEVs) to reach sustainability goals
- 5.2.3. Standard: Higher potential for Tesla Supercharger network with increasing adoption by automakers
- 5.2.4. Charging Station: Rapid deployment of AC charging stations to support light-duty and select medium-duty applications
5.3. Market Trend Analysis
5.4. Cumulative Impact of Russia-Ukraine Conflict
5.5. Cumulative Impact of High Inflation
5.6. Porter's Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
5.7. Value Chain & Critical Path Analysis
5.8. Regulatory Framework Analysis
5.9. Client Customization
- 5.9.1. Value Chain Analysis
- 5.9.2. Technology & Innovation

6. Electric Vehicle Charging Infrastructure Market, by Installation

6.1. Introduction
6.2. Commercial
6.3. Residential

7. Electric Vehicle Charging Infrastructure Market, by Vehicle Type

7.1. Introduction
7.2. Battery Electric Vehicle (BEV)
7.3. Plug-In Hybrid Vehicle (PHEV)

8. Electric Vehicle Charging Infrastructure Market, by Standard

8.1. Introduction
8.2. CCS
8.3. Chademo
8.4. GB/T
8.5. IEC 62196
8.6. Sae J1772
8.7. Tesla Supercharger

9. Electric Vehicle Charging Infrastructure Market, by Charging Station

9.1. Introduction
9.2. AC Charging Station
9.3. DC Charging Station
9.4. Inductive Charging Station

10. Americas Electric Vehicle Charging Infrastructure Market

10.1. Introduction
10.2. Argentina
10.3. Brazil
10.4. Canada
10.5. Mexico
10.6. United States

11. Asia-Pacific Electric Vehicle Charging Infrastructure Market

11.1. Introduction
11.2. Australia
11.3. China
11.4. India
11.5. Indonesia
11.6. Japan
11.7. Malaysia
11.8. Philippines
11.9. Singapore
11.10. South Korea
11.11. Taiwan
11.12. Thailand
11.13. Vietnam

12. Europe, Middle East & Africa Electric Vehicle Charging Infrastructure Market

12.1. Introduction
12.2. Denmark
12.3. Egypt
12.4. Finland
12.5. France
12.6. Germany
12.7. Israel
12.8. Italy
12.9. Netherlands
12.10. Nigeria
12.11. Norway
12.12. Poland
12.13. Qatar
12.14. Russia
12.15. Saudi Arabia
12.16. South Africa
12.17. Spain
12.18. Sweden
12.19. Switzerland
12.20. Turkey
12.21. United Arab Emirates
12.22. United Kingdom

13. Competitive Landscape

13.1. Market Share Analysis, 2023
13.2. FPNV Positioning Matrix, 2023
13.3. Competitive Scenario Analysis
- 13.3.1. Boosting 'Ease-of-Charging' Infra for Electric Vehicle Users
- 13.3.2. Bp Boosts Ev Charging Network With USD 100 Million Order Of Tesla Ultra-Fast Chargers
- 13.3.3. Torrent Power launches EV charging stations

14. Competitive Portfolio

14.1. Key Company Profiles
14.2. Key Product Portfolio