Electric Vehicle AC Chargers

Electric Vehicle AC Chargers

Global Electric Vehicle AC Chargers Market to Reach US$36.0 Billion by 2030

The global market for Electric Vehicle AC Chargers estimated at US$7.5 Billion in the year 2024, is expected to reach US$36.0 Billion by 2030, growing at a CAGR of 29.9% over the analysis period 2024-2030. Standard Chargers, one of the segments analyzed in the report, is expected to record a 29.2% CAGR and reach US$27.1 Billion by the end of the analysis period. Growth in the Fast Chargers segment is estimated at 32.3% CAGR over the analysis period.

The U.S. Market is Estimated at US$2.0 Billion While China is Forecast to Grow at 39.7% CAGR

The Electric Vehicle AC Chargers market in the U.S. is estimated at US$2.0 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$10.0 Billion by the year 2030 trailing a CAGR of 39.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 23.3% and 26.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 24.5% CAGR.

Global Electric Vehicle AC Chargers Market - Key Trends and Drivers Summarized

What Exactly Are Electric Vehicle AC Chargers and How Do They Work?

Electric Vehicle (EV) AC chargers are a fundamental component of the EV ecosystem, acting as the intermediary between the power grid and the vehicle’s battery. Unlike direct current (DC) fast chargers, which provide high-speed charging directly to the battery, AC chargers deliver alternating current (AC) power that must be converted by the EV’s onboard charger into direct current (DC) before it can charge the battery. These chargers typically operate at a lower power output than their DC counterparts, ranging from 3.3 kW to 22 kW, which allows them to serve as an efficient solution for longer, more sustained charging needs. Due to their lower power requirements, AC chargers are compatible with most existing electrical infrastructure, making them highly accessible and widely deployable without extensive upgrades to the grid. This compatibility is a key reason for the widespread use of AC chargers in residential and commercial applications. Although charging with AC takes longer than DC fast charging, this isn’t usually a drawback since vehicles are typically left to charge for extended periods—overnight at home or several hours at a workplace. This sustained, moderate-speed charging not only makes AC chargers ideal for daily use but also prevents the rapid degradation of battery life that can occur with repeated high-speed DC charging, adding to the long-term sustainability of EVs.

Why Are AC Chargers the Preferred Choice for Home Charging?

Home-based charging represents the primary mode of power replenishment for most EV owners, and AC chargers are the leading choice due to their convenience, affordability, and compatibility with home electrical systems. Available as Level 1 chargers (which use a standard 120V household outlet) and Level 2 chargers (which require a 240V outlet), these units are generally straightforward to install and are compatible with the wiring systems in most residences. Level 1 chargers, while slower, provide an adequate solution for drivers with moderate daily distances, charging over the course of the night. Level 2 chargers, which offer faster speeds, are becoming more popular among EV owners due to their ability to significantly reduce charging time. With Level 2, an EV can often be fully recharged in just a few hours, providing more flexibility for households with multiple EVs or unpredictable driving schedules. The evolution of smart AC chargers has added even more functionality, allowing users to schedule charging during off-peak electricity hours, monitor charging status remotely, and manage multiple EVs more efficiently. This enables EV owners to charge their vehicles cost-effectively while helping alleviate pressure on the electrical grid by spreading out demand. The combination of affordability, ease of installation, and compatibility with residential settings has made AC chargers the dominant home charging solution, supporting the increasing adoption of EVs in daily life.

How Are AC Chargers Transforming Public and Workplace Charging Options?

The role of AC chargers extends far beyond residential use; they are pivotal in expanding public and workplace charging infrastructure, increasing accessibility for EV drivers and accelerating EV adoption. In urban settings, where charging availability is often a barrier to EV ownership, Level 2 AC chargers offer a practical solution for businesses, parking facilities, and municipal installations, as they can be deployed relatively easily without major infrastructure modifications. These chargers are often located in shopping malls, public parking lots, and near entertainment venues, where drivers can conveniently top up their vehicles while they go about their activities. For workplaces, AC chargers provide employees with the opportunity to charge their EVs during the workday, which is particularly useful for those who may lack reliable home charging options. This arrangement not only reduces range anxiety but also contributes to an eco-friendly corporate image for businesses offering EV charging as a workplace perk. With the introduction of managed charging networks, public and workplace AC chargers can now be connected to centralized systems that allow for dynamic pricing, remote monitoring, and load management to avoid grid overload during peak hours. These managed systems also provide insights on usage patterns and can adjust power output to prioritize users based on factors like time needed for charging. As cities and companies prioritize sustainability, the integration of AC chargers in these public spaces and workplaces offers a balanced, accessible approach to supporting EV owners.

What Factors Are Driving the Growth in the Electric Vehicle AC Charger Market?

The growth in the electric vehicle AC charger market is driven by a confluence of technological advancements, surging EV adoption, and a shift in consumer preferences towards convenient, cost-effective, and sustainable charging solutions. One of the central drivers is the global rise in EV ownership, which has significantly increased demand for home and workplace charging options, with AC chargers serving as the most affordable and practical solution for these needs. Innovations in AC charging technology, particularly the development of faster Level 2 chargers and smart charging features, have made AC charging more efficient and customizable. These advancements align well with the evolving needs of EV owners who require greater control over their charging routines, from remote monitoring to scheduled charging during off-peak hours. Moreover, supportive government policies have created incentives for installing AC chargers, with various programs offering rebates and grants to promote charging infrastructure in residential, commercial, and public spaces. Many regional governments are also mandating EV infrastructure expansion as part of broader clean energy initiatives, positioning AC chargers as a key element in urban planning and sustainability efforts. Consumer preferences for environmentally friendly and efficient vehicles have also spurred growth, as more EV owners seek charging options that integrate with renewable energy sources, such as solar. Since AC chargers can be easily paired with home solar systems, they enable users to charge their EVs directly from renewable sources, reducing reliance on traditional grid power and lowering environmental impact. As more consumers embrace these values, the demand for AC charging solutions that are both accessible and eco-conscious is expected to rise. Together, these drivers underscore a robust growth trajectory for the electric vehicle AC charger market, with AC chargers positioned to play a central role in the future of EV charging infrastructure as they support the transition toward more sustainable transportation.

SCOPE OF STUDY:

The report analyzes the Electric Vehicle AC Chargers market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Type (Standard Chargers, Fast Chargers); Application (BEV Application, PHEV Application)

Geographic Regions/Countries:
World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.

Select Competitors (Total 35 Featured) -

• ABB Ltd.
• Blink Charging Co.
• Bolt Earth
• Bosch Automotive Service Solutions Inc
• BTC POWER, Inc.
• ChargePoint, Inc.
• Duosida HK LTD.
• Eaton Corporation
• EO Charging
• EVBox

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