Electric Vehicle Charging Infrastructure Market by Installation (Commercial, Residential), Vehicle Type (Battery Electric Vehicle (BEV), Plug–In Hybrid Vehicle (PHEV)), Standard, Charging Station - Global Forecast 2024-2030

Electric Vehicle Charging Infrastructure Market by Installation (Commercial, Residential), Vehicle Type (Battery Electric Vehicle (BEV), Plug–In Hybrid Vehicle (PHEV)), Standard, Charging Station - Global Forecast 2024-2030

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.

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.

Market Insights

• Market Dynamics
  
  The market dynamics represent an ever-changing landscape of the Electric Vehicle Charging Infrastructure Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
  • Market Drivers
    • Growing Concern over Carbon Emission from Vehicles
    • Increase Adoption of Electric Vehicles
    • Government Regulations, Subsidies, and Tax Exemptions to Promote the Adoption of EVs
    • Market Restraints
      • High Cost Associated with the Setup Coupled with the Space Requirements & Uncertainty Related to Electricity
      • Market Opportunities
        • Early-Stage Development
        • Declining Cost of the Lithium-Ion Battery
        • Market Challenges
          • Emergence of Hydrogen Fuel Cell Vehicles
          • Market Segmentation Analysis
            • Installation: Increasing deployment of residential EV charging infrastructure with growing adoption of EVs by consumers
            • Vehicle Type: Rising development of battery electric vehicles (BEVs) to reach sustainability goals
            • Standard: Higher potential for Tesla Supercharger network with increasing adoption by automakers
            • Charging Station: Rapid deployment of AC charging stations to support light-duty and select medium-duty applications
            • Market Disruption Analysis
            • Porter’s Five Forces Analysis
            • Value Chain & Critical Path Analysis
            • Pricing Analysis
            • Technology Analysis
            • Patent Analysis
            • Trade Analysis
            • Regulatory Framework Analysis
            FPNV Positioning Matrix
            
            The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electric Vehicle Charging Infrastructure Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment 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, namely 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 assessment of the current state of vendors in the Electric Vehicle Charging Infrastructure Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. 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 these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
            
            Recent Developments
            • Promax Power Acquires Significant Stake in Exirgy Innovations
              
              Promax Power Ltd. strategically expanded its portfolio by acquiring a 20.83% stake in Exirgy Innovations, a company at the forefront of electric vehicle (EV) charging solutions. This acquisition aligns with Promax Power's ongoing efforts to enhance its presence within the burgeoning electric vehicle market and capitalize on the growing demand for advanced EV infrastructure.
              
              Boosting ‘Ease-of-Charging’ Infra for Electric Vehicle Users
              
              Rovers Energy's Mukul Potdar and Chinmay Gore partnering for the advancement of electric vehicle (EV) charging infrastructure. Recently, the Bureau of Indian Standards (BIS) has approved an indigenously developed AC and DC combined charging connector standard for low-emission vehicles (LEVs) such as scooters, bikes, and rickshaws. This significant development promotes the adoption of EVs in India and contributes to the establishment of a robust charging infrastructure network.
              
              Bp Boosts Ev Charging Network With USD 100 Million Order Of Tesla Ultra-Fast Chargers
              
              BP has recently announced a USD 100 million investment in acquiring ultra-fast charging hardware units from Tesla. This strategic move aims to expand BP's electric vehicle (EV) charging network across the United States. Notably, this marks the first independent use of Tesla's hardware by an EV charging network. The roll-out of these chargers is scheduled to commence in 2024, with identified locations including Houston, Phoenix, Los Angeles, Chicago, and Washington D.C., as well as at BP Pulse's Gigahub and third-party locations, such as Hertz locations. This significant investment underscores BP's commitment to facilitating the growth of EV infrastructure and promoting sustainable transportation options.
            Strategy Analysis & Recommendation
            
            The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electric Vehicle Charging Infrastructure Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
            
            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., Eaton PLC, ENGIE SA, EVBox B.V., EVgo Services LLC, Fastned B.V., Leviton Manufacturing Company Inc., NaaS Technology Inc., NIO LIMITED, Schneider Electric SE, 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
                              
                              
                              Please Note: PDF & Excel + Online Access - 1 Year