Electric Car Charger Global Market Report 2024

Description

“Electric Car Charger Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on electric car charger market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for electric car charger? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The electric car charger market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Slow AC; Fast AC; Fast DC
2) By Charging Type: On-board Charger; Off-board Charger
3) By Application: Home; Office; Commercial
Companies Mentioned: Leviton Manufacturing Co. Inc; ABB Group; Siemens AG; Schneider Electric Corp; AeroVironment Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

An electric car charger is a device designed to supply power to electric vehicles (EVs). These charging points link electric cars, community electric vehicles, and plug-in hybrids to a source of electricity.

The primary types of electric car chargers include slow AC, fast AC, and fast DC chargers. Slow AC charging is commonly used in multi-dwelling structures, residences, and fleet charging sites where vehicles have ample time for charging. It typically takes about 5-8 hours for a full charge, with the AC power converted to DC and fed directly into the vehicle's battery by a converter. Fast AC chargers can fully recharge smaller electric vehicles in three to four hours, while fast DC chargers convert AC power to DC within the charging station, delivering DC power directly to the vehicle's battery for faster charging. These chargers may have different charging types, such as on-board and off-board chargers, and find applications in various locations, including homes, offices, and commercial areas.

The electric car chargers market research report is one of a series of new reports from The Business Research Company that provides electric car chargers market statistics, including electric car chargers industry global market size, regional shares, competitors with a electric car chargers market share, detailed electric car chargers market segments, market trends and opportunities, and any further data you may need to thrive in the electric car chargers industry. This electric car chargers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric car charger market size has grown exponentially in recent years. It will grow from $5.54 billion in 2023 to $7.56 billion in 2024 at a compound annual growth rate (CAGR) of 36.3%. The growth observed in the historical period can be attributed to several key factors, including the increasing adoption and sales growth of electric vehicles (EVs), government incentives and regulations promoting EV usage, heightened environmental concerns, and goals to reduce emissions, consumer demand for convenient charging infrastructure, and significant investments by the automotive industry in the development and promotion of electric vehicles.

The electric car charger market size is expected to see exponential growth in the next few years. It will grow to $23.62 billion in 2028 at a compound annual growth rate (CAGR) of 33.0%. The anticipated growth in the forecast period can be attributed to several factors, including the expansion of EV charging networks, the standardization of charging connectors, the growth of international markets, increased global adoption of electric vehicles, and the proliferation of both public and private charging stations. Major trends expected in the forecast period encompass the development of fast and ultra-fast charging solutions, advancements in wireless charging technologies, improvements in EV battery technology, the integration of smart grid technology and demand response mechanisms, and the emergence of autonomous and self-parking charging stations.

The electric car chargers market is anticipated to experience significant growth, driven by the increasing demand for electric vehicles (EVs) amid growing environmental awareness. The global shift toward electrified transportation aims to reduce pollution emissions from traditional fossil fuel vehicles, offering an alternative that is more environmentally friendly. According to the Global EV Outlook 2022 report published in May 2022, global EV sales doubled in 2021, reaching a record high of 6.6 million units. The surge in electric car sales, totaling 6,600,000 units in 2021 compared to 2,980,000 units in the previous year, underscores the momentum toward electric mobility. This rising demand for electric vehicles serves as a catalyst for the growth of the electric car chargers market.

Another contributing factor to the growth of the electric car charger market is the increasing trend of e-bikes and e-mountain bikes. E-bikes, or electric bikes, are bicycles equipped with an electric motor to assist in propulsion, while e-mountain bikes are designed for off-road use on challenging terrains. The adoption of e-bikes and e-mountain bikes is gaining traction, leading to a growing need for accessible charging infrastructure to power these electric bicycles. The German Bicycle Industry Association reported a significant increase in e-bike exports, reaching 190,000 units in 2023, marking a 56% rise compared to Q1 2022. This surge in e-bike adoption contributes to the demand for charging stations, including small-scale solutions compatible with electric cars, thus driving the growth of the electric car charger market.

In response to market demands and advancements in technology, major companies in the electric car charger market are innovating by developing new products, such as solar-powered electric car chargers. A solar-powered electric car charger harnesses energy from the sun through solar panels to generate electricity for charging electric vehicles. In August 2022, Sunrun Inc., a U.S.-based energy services provider, launched the Level 2 EV Charger as part of its home energy management solutions. This solar-powered EV charger, operating at a 40-amp Level 2, offers a practical solution for overnight charging and is compatible with all EV models. With intelligent features that allow users to customize settings and manage the charging process, Sunrun's Level 2 EV Charger addresses the growing demand for electric vehicles in the United States, emphasizing energy self-sufficiency and cost-efficiency.

The electric car charger market is witnessing the development of innovative products such as all-in-one electric vehicle chargers by major companies to cater to a broader customer base, drive increased sales, and boost revenue. An all-in-one electric vehicle charger is a comprehensive charging solution designed to accommodate various charging needs for electric vehicles (EVs). A notable example is ABB Ltd's Terra 360, launched in September 2021. This modular charger is capable of simultaneously charging up to four vehicles while dynamically distributing power. The Terra 360 features an innovative lighting system to assist users during the charging process, displaying real-time information such as the State of Charge (SoC) of the EV battery and the remaining time until optimal charging completion. The charger is wheelchair-accessible and incorporates an ergonomic cable management system for user convenience. It is designed for diverse settings, from fueling stations and convenience stores to retail sites and commercial premises. The compact footprint allows for installation in areas with limited space, providing flexibility for both individual EV owners and companies with electric fleets.

In June 2022, Schneider Electric, a France-based company specializing in digital automation and energy management, acquired EV Connect, Inc., a U.S.-based provider of electric charging solutions. This strategic acquisition positions Schneider Electric to accelerate its growth, leveraging the expertise and solutions offered by EV Connect. The move reflects the growing importance of integrating electric vehicle charging infrastructure into Schneider Electric's portfolio, aligning with the increasing adoption of electric vehicles.

Major companies operating in the electric car charger market include Leviton Manufacturing Co. Inc., ABB Group, Siemens AG, Schneider Electric Corp, AeroVironment Inc., Blink Charging Co., Bosch Automotive Service Solutions Inc., ChargePoint Inc., Delphi Automotive PLC., Eaton Corporation, Elektromotive Ltd., Evatran LLC, General Electric Company, Hubbell Device-Kellems, Legrand India Pvt. Ltd., Tesla Motors Inc., TurboDock, Alfen N.V., ClipperCreek Inc., Delta Electronics Inc., Efacec Electric Mobility S.A., EV Safe Charge Inc., EV Solutions Inc., EVBox Group, EVgo Services LLC, EVoCharge, EVSE LLC, JuiceBar EV Inc., NewMotion B.V., Tritium Pty Ltd., Wallbox Chargers S.L., Webasto Charging Systems Inc.

Asia-Pacific was the largest region in the electric car chargers market in 2023. The regions covered in the electric car chargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the electric car chargers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The electric car chargers market consists of sales of slow alternating current (AC) electric-car chargers, fast alternating current (AC) electric-car chargers, and fast direct current (DC) electric-car chargers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9540

1. Executive Summary

2. Electric Car Charger Market Characteristics

3. Electric Car Charger Market Trends And Strategies

4. Electric Car Charger Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Electric Car Charger Market Size and Growth

5.1. Global Electric Car Charger Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Electric Car Charger Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Electric Car Charger Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Electric Car Charger Market Segmentation

6.1. Global Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Slow AC
Fast AC
Fast DC
6.2. Global Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-board Charger
Off-board Charger
6.3. Global Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Home
Office
Commercial

7. Electric Car Charger Market Regional And Country Analysis

7.1. Global Electric Car Charger Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Electric Car Charger Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Electric Car Charger Market

8.1. Asia-Pacific Electric Car Charger Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Electric Car Charger Market

9.1. China Electric Car Charger Market Overview
9.2. China Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Electric Car Charger Market

10.1. India Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Electric Car Charger Market

11.1. Japan Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Electric Car Charger Market

12.1. Australia Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Electric Car Charger Market

13.1. Indonesia Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Electric Car Charger Market

14.1. South Korea Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Electric Car Charger Market

15.1. Western Europe Electric Car Charger Market Overview
15.2. Western Europe Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Electric Car Charger Market

16.1. UK Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Electric Car Charger Market

17.1. Germany Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Electric Car Charger Market

18.5. France Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Electric Car Charger Market

19.9. Italy Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Electric Car Charger Market

20.13. Spain Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Electric Car Charger Market

21.1. Eastern Europe Electric Car Charger Market Overview
21.2. Eastern Europe Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Electric Car Charger Market

22.1. Russia Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Electric Car Charger Market

23.1. North America Electric Car Charger Market Overview
23.2. North America Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Electric Car Charger Market

24.1. USA Electric Car Charger Market Overview
24.2. USA Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Electric Car Charger Market

25.1. Canada Electric Car Charger Market Overview
25.2. Canada Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Electric Car Charger Market

26.1. South America Electric Car Charger Market Overview
26.2. South America Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Electric Car Charger Market

27.1. Brazil Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Electric Car Charger Market

28.1. Middle East Electric Car Charger Market Overview
28.2. Middle East Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Electric Car Charger Market

29.1. Africa Electric Car Charger Market Overview
29.2. Africa Electric Car Charger Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Electric Car Charger Market, Segmentation By Charging Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Electric Car Charger Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Electric Car Charger Market Competitive Landscape And Company Profiles

30.1. Electric Car Charger Market Competitive Landscape
30.2. Electric Car Charger Market Company Profiles
- 30.2.1. Leviton Manufacturing Co. Inc
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. ABB Group
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Siemens AG
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Schneider Electric Corp
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. AeroVironment Inc.
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Electric Car Charger Market Competitive Benchmarking

32. Global Electric Car Charger Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Electric Car Charger Market

34. Electric Car Charger Market Future Outlook and Potential Analysis

34.1 Electric Car Charger Market In 2028 - Countries Offering Most New Opportunities
34.2 Electric Car Charger Market In 2028 - Segments Offering Most New Opportunities
34.3 Electric Car Charger Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer