Public Charging Infrastructure Market: Current Analysis and Forecast (2022-2030)

Public charging infrastructure refers to the network of charging stations that are available to the public for charging electric vehicles (EVs). These charging stations are strategically located in various public spaces such as parking lots, shopping centers, highways, and residential areas to provide convenient access to charging for EV owners

The Public Charging Infrastructure Market is expected to grow at a strong CAGR of 31.3% during the forecast period. This expansion can be attributed to several factors, including the increasing adoption of electric vehicles (EVs) worldwide and the growing demand for convenient charging solutions. One key driver behind the growth of public charging infrastructure is the rising number of EVs on the roads. As governments and consumers become more environmentally conscious, there has been a steady shift towards electric vehicles as a cleaner alternative to traditional gasoline-powered cars. This surge in EV sales has created a pressing need for reliable and accessible charging infrastructure to support the growing number of EV owners. Governments and regulatory bodies around the world have recognized the importance of supporting EV adoption and have taken steps to promote the development of public charging networks. In many countries, government incentives, subsidies, and grants are being offered to private companies and organizations to invest in and expand charging infrastructure

Based on the Charger type, the market has been categorized into AC and DC. Among them, the AC segment will attain largesest share of the market owing to the push for sustainability and the need to reduce greenhouse gas emissions have led to a shift towards electric mobility. AC EV chargers play a crucial role in facilitating the charging infrastructure required to support the widespread use of EVs, encouraging more individuals to make the switch. Moreover, slow chargers can increase the life of the battery. Tesla also launched advanced EV chargers, boosting the market's growth. For instance, on Oct 17 2022, Tesla launched a home charging station, or Wall Connector as it calls it, that works with other electric cars, not just Tesla vehicles. Unlike all other electric automakers, Tesla uses its own proprietary connector for vehicles produced for the North American market. This means the company's charging network and products, like home chargers, only work with its own electric vehicles.

Based on the power outage, the market has been categorized as <11KW, 11KW-50KW, and >50KW. Among them, the <11KW has a high market share as these chargers are commonly known as "level 1" or "level 2" chargers, which are typically designed for residential or workplace use. They offer slower charging speeds compared to higher-power chargers and are generally less expensive to purchase, install, and maintain compared to higher-power chargers. This affordability factor has contributed to their widespread adoption, especially among individual EV owners or small businesses with limited budgetary constraints.

For a better understanding of the market adoption of the Industrial Relay industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, and the Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Korea, and Rest of Asia-Pacific), Rest of World. APAC countries have made substantial investments in EV charging infrastructure. For example, China has been at the forefront of EV adoption and has established a vast network of charging stations across the country. In addition to China and Japan, other APAC countries are also ramping up their efforts in building EV public infrastructure. For instance, South Korea, aims to have over 100,000 charging stations by 2023, with a focus on establishing them in residential areas, workplaces, and public spaces. India has also set ambitious targets for EV adoption and has launched various initiatives to promote the development of charging infrastructure. Furthermore, supportive policies and incentives play a crucial role in the growth of EV public infrastructure in APAC. Countries like Singapore and Malaysia offer tax incentives, grants, and subsidies to encourage EV adoption and the development of charging infrastructure. Taiwan has implemented a policy that mandates all public buildings, shopping centers, and parking lots to install EV charging stations.

Some of the major players operating in the market include: ABB Ltd; AG; ChargePoint, Inc.; EVgo Services LLC; Allego; Schneider Electric.; Blink Charging Co; Wi Tricity Corporation; Toshiba Corporation; AeroViroment, Inc; Chargemaster plc.