North America Commercial Vehicle Charging Stations Market Forecast to 2032
The North America Commercial Vehicle Charging Stations market is projected to grow at 23.4% CAGR during the forecast period, 2023–2032. In 2022, the North America Commercial Vehicle Charging Stations market was dominated by US with a 86.6% share, followed by Canada and Mexico with shares of 11.7% and 1.7% respectively.
The North America Commercial Vehicle Charging Stations Market refers to the industry related to the development, installation, and operation of electric charging infrastructure designed specifically for commercial vehicles such as trucks, buses, and fleets in the North American region. This market encompasses various types of charging stations, including fast-chargers and high-power chargers. Commercial EV charging stations are designed for public locations such as parking lots, retail centers, and office buildings. Their main advantage is the potential to generate revenue for businesses through revenue-sharing programs, allowing them to earn money by charging electric vehicles. Moreover, installing commercial charging stations can attract new customers and enhance a business's sustainability reputation by providing accessible and efficient charging solutions for electric vehicles.
The expected growth in the market can be attributed to the Government support and incentives towards the EV transition, increasing demand for commercial electric vehicles, rising fuel prices and environmental concerns, and charging infrastructure demand. However, the market is also held back by high upfront cost, lack of maintenance and Complex and varying regulations regarding charging standards can hinder market development.
Market SegmentationThe North America Commercial Vehicle Charging Stations market has been segmented based on offering, installation type, type, charging level, phase, application and country. Based on offering, the North America Commercial Vehicle Charging Stations market has been segmented into EV Charging Station, and Services.
Based on installation type, the North America Commercial Vehicle Charging Stations market has been segmented into Fixed, and Portable.
Based on type, the North America Commercial Vehicle Charging Stations market has been segmented into AC Charging Station, and DC Charging Station.
Based on charging level, the North America Commercial Vehicle Charging Stations market has been segmented into Level 2, and Level 3.
Based on phase, the North America Commercial Vehicle Charging Stations market has been segmented into Single Phase, and Three Phase.
Based on application, the North America Commercial Vehicle Charging Stations market has been segmented into Service & Last Mile Companies, Trucking Companies, Public Transportation, Roadside Station, and Others.
Major PlayersThe key market players are Siemens AG, Heliox, Enphase Energy, ABM INDUSTRIES INCORPORATED, EVgo Inc, Electrify America, Phihong USA Corp, EV Safe Charge Inc, ABB, and Electrify America.
Companies MentionedSiemens AG
Heliox
Enphase Energy
ABM INDUSTRIES INCORPORATED
EVgo Inc
Electrify America
Phihong USA Corp
EV Safe Charge Inc
ABB
and Electrify America