Electric Vehicle Charging Station Industry: Regional Market Revenue Forecasts by Application

Posted on 2023-09-13 by researchinsights in Automotive, Industrial, Technology // 0 Comments

Electric Vehicle Charging Station Industry Data Book Covers Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market

The global Electric Vehicle Charging Station industry was estimated at USD 24.26 billion in 2022 and is anticipated to increase at a significant CAGR of 25.5% from 2023 to 2030.

Grand View Research’s electric vehicle charging station sector database is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

Electric Vehicle Charging Infrastructure Market Insights

The global electric vehicle (EV) charging infrastructure market size was valued at USD 19.67 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2023 to 2030. The rising levels of carbon emissions and other harmful gases stemming from transportation have triggered the necessity of adopting electric vehicles. As a result, the demand for an electric vehicle charging infrastructure among commercial and residential applications. Moreover, the increasing partnerships between car manufacturers for charging facilities by providing a subscription model is expected to further drive the market.

The technological progress of both electric vehicles charging software and hardware is expected to change the way electric vehicle owners use and benefit from electric vehicle charging applications. Technologies such as Smart car API and charging networks precisely determine an electric vehicle’s charge time even before the car driver plugs the car into a station. Additionally, green energy is expected to play a significant role in both public and residential electric vehicle charging space. Electric vehicle owners are majorly concerned about carbon emissions. To address these concerns, companies are making rapid advancements in the charging technologies of their electric vehicle charging networks.

The market penetration of electric vehicle charging equipment is significantly high at commercial spaces as compared to residential places. The number of commercial charging stations is predicted to increase in line with the growing adoption of electric vehicles. Efforts toward strengthening the charging infrastructure in commercial spaces would be decisive toward encouraging the adoption of electric vehicles, as overnight charging at residential complexes or individual home would not be sufficient for long-distance journeys. Moreover, public charging infrastructure would also facilitate the ultra-fast charging capabilities necessary for long-distance journeys. However, electric vehicle chargers for residential spaces can also offer significant growth potential as they provide a cheaper and convenient mode for charging electric vehicles as compared to commercial charging stations.

Electric Vehicle Charging Infrastructure Market Annual Sales of Electric Vehicles in the U.S. (2017-2021)

Order your copy of the Free Sample of “Electric Vehicle Charging Station Industry Data Book – Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Micro Mobility Charging Infrastructure Market Insights

The global micro-mobility charging infrastructure market size was valued at USD 4.58 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 25.8% from 2023 to 2030. Increasing adoption of micro-mobility vehicles such as e-scooters and e-bikes to help reduce pollution and congestion, especially in crowded cities is a major factor driving the market growth. Micro-mobility is a better alternative to public transportation for countries worldwide focusing on solving their transportation problems rising concern of emissions from vehicles running on gasoline or diesel. Moreover, government subsidies and tax incentives aimed at encouraging the adoption of micro-mobility vehicles are further expected to create more growth opportunities for the market.

Rising applications of micro-mobility vehicles in the transportation and commercial sectors are presenting the need for a strong network of micro-mobility charging stations. In response to the rising demand, micro-mobility vehicle manufacturers are also focusing on offering charging networks across the globe. For instance, in November 2020, TIER, a German e-scooter startup, raised USD 250 million in a Series C funding round from SoftBank Vision Fund 2 to expand its presence in European cities. Such developments bode well for the growth of the micro-mobility charging infrastructure market over the forecast period.

The rapidly growing demand for shared mobility solutions is further expected to drive the market growth over the forecast period. Increasing traffic congestion, fuel cost, and rapidly shrinking parking spaces in emerging and developed countries have led to a greater demand for shared mobility solutions. Moreover, citizens prefer the use of shared mobility solutions as they are cheaper than other modes of transportation and eliminate the issues related to parking spaces. However, the high costs of setting up micro-mobility vehicle charging infrastructure could hamper the growth prospects of the market to a certain extent.

Go through the table of content of Electric Vehicle Charging Station Industry Data Book to get a better understanding of the Coverage & Scope of the study

Electric Vehicle Charging Station Industry Data Book Competitive Landscape

The key market players have developed novel concepts and ideas and upgraded the current set of products to sustain the intense competition in the market. The players have adopted new product development as their key developmental strategy to cater to the increasing demand from end-users. The electric vehicle charging infrastructure market and micro mobility charging infrastructure market can be described as moderately fragmented markets characterized by the presence of various prominent players driving competition by pursuing various strategies aimed at long-term sustenance.

Key players operating in the Electric Vehicle Charging Station Industry are:

ChargePoint, Inc.
Tesla, Inc.
ABB
BP Chargemaster
ClipperCreek, Inc.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Matched content

Editor’s pick