Electric Vehicle AC Charger Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Electric Vehicle AC Charger Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Electric Vehicle AC Charger Market

The Electric Vehicle AC Charger Market size was valued at USD 3.68 billion in 2021 and is projected to grow from USD 4.37 billion in 2022 to USD 33.57 billion by 2029, exhibiting a CAGR of 33.82% during the forecast period of 2024-2032.

The COVID-19 pandemic first of all disrupted the electric car (EV) AC charger market because of lockdowns, restrained manufacturing, and deliver chain delays. Production and sales of EVs and chargers slowed, developing setbacks for the industry. However, as economies reopened, there has been a sturdy resurgence in EV demand, pushed via accelerated interest in sustainable power solutions. Governments global provided incentives for EV adoption, aiming to enhance green mobility. This submit-pandemic momentum has multiplied the need for reachable and efficient EV charging infrastructure, with the AC charger market experiencing renewed increase as producers ramp up manufacturing to fulfill growing call for.

One prominent fashion within the EV AC charger market is the adoption of smart charging generation. Smart chargers permit for grid communication and allow optimized charging schedules that may lessen height load at the grid, decrease strength prices, and help renewable power integration. These chargers are specifically appealing to residential and business users who benefit from far flung tracking and automatic features. As electric utilities seek approaches to decorate strength efficiency and decrease emissions, the deployment of clever charging stations has won traction, contributing to the increase and sophistication of the EV charging market.

The growing adoption of electric cars, pushed by using environmental issues and authorities incentives, is a prime factor propelling the EV AC charger market. As nations commit to phasing out inner combustion engine automobiles, there is an urgent want for on hand charging infrastructure to guide a growing EV fleet. Policies inclusive of tax rebates, zero-emission goals, and subsidies have encouraged each customers and corporations to transition to EVs. This surge in EV possession immediately influences the call for for AC chargers, as they offer a convenient and price-effective charging answer for domestic and place of job use, making them important to the EV ecosystem.

Comprehensive Analysis of Electric Vehicle AC Charger Market

The Electric Vehicle AC Charger Market growth is rising at an exponential rate due to its marketplace segmentation. This market expansion correctly affords a detailed local assessments thinking about the dominant supply and call for forces that effect the enterprise. These segmentations are methodically segregated by end-user, by vehicle type, by product. By End-user include Residential Charging, Commercial Charging. By Vehicle Type include BEV, PHEV. By Product include Standard Charger, Fast Charger.

The Asia Pacific location lead the Electric Vehicle AC Charger Market share percentage via benefitting a marketplace size of USD 2.26 billion The surge in the adoption of electric vehicle charging stations, such as in China, is driving the market growth.

The top players in the market play a crucial role in the industry assuring market growth and setting market standards. These players include, Google LLC (Alphabet, Inc.), Magic Leap, Inc., ReWalk Robotics, SAMSUNG, B-Temia, Panasonic Holdings Corporation, NVIDIA Corporation, Microsoft, Ekso Bionics, Vuzix,these market players provide a level-playing competitive landscape.

July 2022: T-Mobile US partnered with Versa to growth the T-SIMsecure platform, which uses the IMSI and International Mobile Equipment Identity (IMEI) specs for clientless authentication. This has delivered approximately computerized authorization through a SIM card of devices related to T-Mobile's community, which incorporates traditional networks which incorporates the Internet of Things (IoT) and routers which might be often hard to steady.

Segmentation Table

ATTRIBUTE

DETAILS

Study Period

2018-2029

Base Year

2021

Estimated Year

2022

Forecast Period

2022-2029

Historical Period

2018-2020

Unit

Value (USD Billion)

By End-user

Residential Charging

Commercial Charging

By Vehicle Type

BEV

PHEV

By Product

Standard Charger

Fast Charger

By Geography

North America (By End-user, By Vehicle Type, By Product)

• U.S.
• Canada

Europe (By End-user, By Vehicle Type, By Product)

• U.K.
• Germany
• France
• Rest of Europe

Asia Pacific (By End-user, By Vehicle Type, By Product)

• China
• India
• Japan
• Rest of Asia Pacific

Rest of the World (By End-user, By Vehicle Type, By Product)

• Middle East and Africa
• Latin America

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