Electric Vehicle Charging Station Market by Technology (Level 1, Level 2, Level 3), Application

Description

List of Tables

[195 Pages Report] The Electric Vehicle Charging Station Market size was estimated at USD 64.60 billion in 2023 and expected to reach USD 77.25 billion in 2024, at a CAGR 20.34% to reach USD 236.19 billion by 2030.

The electric vehicle charging station market comprises entities involved in the requirement of infrastructure and services essential for recharging electric vehicles (EVs) such as plug-in hybrid electric vehicles (PHEVs), extended-range electric vehicles (EREVs), and battery electric vehicles (BEVs). These services include residential, commercial, and public charging stations that utilize different charging technologies, such as Level 1, Level 2, DC fast charging, and wireless charging. The evolution of the electric vehicle charging station market is mainly compelled by increasing demand for EVs due to rising environmental concerns caused by internal combustion engine (ICE) vehicle emissions. Government incentives supporting the adoption of EVs through subsidies on purchase prices and reduced tax rates are also catalyzing market expansion. However, high costs and standard guidelines for installing charging stations are hampering the market. To overcome these issues, manufacturers are focusing on technological advancements resulting in decreased battery costs and improved efficiency, bolstering the overall attractiveness of EVs. Furthermore, smart charging solutions integrated with renewable energy sources such as solar panels, vehicle-to-grid services that enable EVs to contribute to grid energy during peak hours, and wireless inductive charging technology are an opportunity for the market.

KEY MARKET STATISTICS
Base Year [2023]	USD 64.60 billion
Estimated Year [2024]	USD 77.25 billion
Forecast Year [2030]	USD 236.19 billion
CAGR (%)	20.34%

Technology: Introduction of the diverse levels of charging to deliver fast charging and increase the convenience

Level 1 charging utilizes standard 120-volt AC outlets in residential and commercial settings. Level 2 chargers operate on a higher voltage of 208 - 240 volts AC and provide faster charge times than Level 1 chargers, ranging from 10-60 miles of range per hour. Level 3 stations utilize a direct current (DC) connection that can recharge an EV's battery up to an impressive rate of 15kW to 350kW output, providing up to approximately 100 miles of range in 30 minutes. Level 4 chargers are an emerging technology capable of ultra-fast charging speeds up to 350 kW, potentially adding more than 200 miles of range within a mere 15 minutes. Level 5 represents future iterations of charging technology that aims to deliver even faster charge times and increased convenience through innovations such as wireless induction charging or battery swapping stations.

End-User: Growing usage of EV charging station in industrial sector

Homeowners with EVs require convenient at-home charging options. Level 1 and Level 2 chargers cater to individual preferences concerning installation requirements, power output, and smart features. Businesses prioritize sustainability and employee satisfaction, and commercial office spaces have started installing EV charging stations as an amenity for employees and visitors. Industrial firms are gradually transitioning their fleets to electric vehicles to reduce operational expenses and environmental impact. They require high-capacity fast-charging solutions for their depots and hubs.

Regional Insights

In the Americas, consumer adoption of electric vehicles is increasing, driven by federal incentives and initiatives. The number of charging stations has also increased due to fleets adopting medium- and heavy-duty EVs. Furthermore, major players in the Americas are expanding the charging infrastructure. In January 2023, the U.S. Department of Energy mentioned that Tesla has over 1,600 Supercharger stations in the U.S., with over 17,000 fast-charging ports. Electrify America is next in line, with about 800 stations and 3,600 fast-charging ports. This led to the increasing adoption of EV charging stations in the Americas. The European Union (EU) countries have been at the forefront of EV adoption owing to stringent emissions regulations and favorable policies. In the Middle East, major countries have adopted national strategies to promote EVs as part of their sustainable development plans. Furthermore, Africa represents an emerging market for EVs as the increasing demand for cleaner transportation solutions. The Asia-Pacific region is witnessing growth in EV demand with the increasing disposable incomes and supportive government policies. Countries including China, Japan, and India are investing and having global initiatives for electric vehicle vehicles, indicating that electric vehicle charging infrastructure development will continue to accelerate worldwide.

FPNV Positioning Matrix

The FPNV Positioning Matrix is pivotal in evaluating the Electric Vehicle Charging Station 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 Station 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 Station Market, highlighting leading vendors and their innovative profiles. These include Blink Charging Co., BP PLC, BYD Motors Inc., ChargePoint, Inc., Diebold Nixdorf, Incorporated, Dover Corporation, Eaton Corporation, Electrify America LLC, Enel X Way USA, LLC, ENGIE Group, EVgo Services LLC, Hitachi, Ltd., Leviton Manufacturing Co., Inc., Nichicon Corporation, NovaCHARGE, Inc., Pacific Gas and Electric Company, Panasonic Corporation, Robert Bosch GmbH, Royal Dutch Shell PLC, Schneider Electric SE, Siemens AG, Signet Systems Inc., SparkCharge Network, Tesla Motors, Inc., and Toyota Industries Corporation.

Market Segmentation & Coverage

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

Technology
- Level 1
- Level 2
- Level 3
- Level 4
- Level 5

Application
- Commercial
- Industrial
  - Healthcare
  - Hospitality
  - Logistics & Transportation

Residential

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 Station Market?

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

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

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

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

Product Code: MRR-43798151B80E

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. Rapidly increasing adoption of electric vehicles globally
  - 5.1.1.2. Supportive government efforts to promote the adoption of EVs
  - 5.1.1.3. Rising use of vehicle-to-grid electric vehicle charging stations
- 5.1.2. Restraints
  - 5.1.2.1. High cost required for installation of electric vehicle charging stations
- 5.1.3. Opportunities
  - 5.1.3.1. Emergence of electric vehicle charging stations powered by renewable energy
  - 5.1.3.2. Advancements and developments in electric vehicle charging stations
- 5.1.4. Challenges
  - 5.1.4.1. Stringent guidelines for the installation of charging stations
5.2. Market Segmentation Analysis
- 5.2.1. Technology: Introduction of the diverse levels of charging to deliver fast charging and increase the convenience
- 5.2.2. End-User: Growing usage of EV charging station in industrial sector
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Electric Vehicle Charging Station Market, by Technology

6.1. Introduction
6.2. Level 1
6.3. Level 2
6.4. Level 3
6.5. Level 4
6.6. Level 5

7. Electric Vehicle Charging Station Market, by Application

7.1. Introduction
7.2. Commercial
7.3. Industrial
7.4. Residential

8. Americas Electric Vehicle Charging Station Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Electric Vehicle Charging Station Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Electric Vehicle Charging Station Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Mercedes-Benz's first EV charging hubs will open this fall
- 11.3.2. General Motors Doubles Down on Commitment to a Unified Charging Standard and Expands Charging Access to Tesla Supercharger Network
- 11.3.3. Shell USA Inc. finalizes acquisition of Volta Inc., scaling up its U.S. public electric vehicle charging network
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio