Electric Vehicle (EV) Charging Equipment Market Size - By Type, By Charging Level, By Vehicle Type, By Charger Type Outlook, By Mode Of Charging, By Connector Outlook, By End User - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Electric Vehicle (EV) Charging Equipment Market Size - By Type, By Charging Level, By Vehicle Type, By Charger Type Outlook, By Mode Of Charging, By Connector Outlook, By End User - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Global Electric Vehicle Charging Equipment Market overview:According to SPER Market Research, the Global Electric Vehicle Charging System And Equipment Market is estimated to reach USD 286.66 million by 2032 with a CAGR of 31%.

An electric car charging station is a hardware component used to connect plug-in and electric vehicles to an electrical source so they may be recharged. Charging stations are placed in public areas like parking lots, shopping malls, and other places by private businesses or electric utility providers. Additionally, level 1, level 2, and level 3 charging levels are available at electric car charging stations. Additionally, there are several designs for electric car charging stations, including wall-mounted or free-standing, single or multiple charging heads, commercial or residential grade, indoor or outdoor installation. The requirement for the use of electric cars has been prompted by the growing levels of carbon emissions and other dangerous substances resulting from transportation. As a result, there is a growing need for an electric vehicle (EV) charging infrastructure in both business and residential settings.

Additionally, expanding collaborations between automakers to provide charging stations using a subscription model is anticipated to fuel industry expansion. Green energy is also anticipated to be a major factor in both public and private electric car charging stations. Carbon emissions are the main issue for EV owners. Companies are quickly developing their electric car charging networks' charging technology to solve these worries. Commercial venues have a far higher market penetration of EV charging equipment than residential areas do. With the increased popularity of electric vehicles, more business charging stations are expected to be installed. As overnight charging at apartment buildings or individual residences would not be adequate for long-distance trips, efforts toward improving the charging infrastructure in commercial places would be crucial in promoting the adoption of EV.

Impact of COVID-19 on the Global Electric Vehicle Charging System Market:

The new coronavirus epidemic caused a dramatic decline in non-essential import and export, and only a tiny portion of the workforce was permitted to operate in the factories. The tight pandemic laws also had an influence on system testing. Due to these, there was a significant supply-demand mismatch for goods and services associated with electric car charging stations. The worldwide auto industry saw a new, unusual scenario in the previous year as a result of the COVID epidemic. This followed a dreadful year for the sector that already saw a major decline in global car output and that interrupted the increasing trend of several years of growth. Furthermore, the market for EV charging stations surged in the current year as a result of the rising desire for electric vehicles during the epidemic and thanks to incentives from governments throughout the world. Leading charging station manufacturers increased the quantity of their personal and public EV chargers worldwide.

Scope of the Report:

Report Metric Details
Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032

Segments covered By Type, By Charging Level, By Vehicle Type, By Charger Type Outlook, By Mode Of Charging, By Connector Outlook, By End User

Regions covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Companies Covered ABB Ltd., AeroVironment Inc., BorgWarner Inc., BP Chargemaster, Chargemaster PLC, ChargePoint Inc., Clipper Creek Inc., DBT SA, Delta Electronics Inc., Eaton Corporation PLC, Engie SA, Fortum Oyj, General Electric Company, Leviton Manufacturing Co., Moser Services Group, Plugless Power Inc., Robert Bosch GmbH, Schneider Electric, SemaConnect Inc., Siemens AG, TATA Power Pvt. Ltd., Tesla Motors Inc., The New Motion BV, Webasto Group.

Electric Vehicle (EV) Charging System Market Segmentation:

By Type: Based on the Type, Global Electric Vehicle Charging System And Equipment Market is segmented as; AC Charging, DC Charging, Inductive Charging.

By Charging Level: Based on the Charging Level, Global Electric Vehicle Charging System And Equipment Market is segmented as; Level 1 (120 Volts), Level 2 (240 Volts), Level 3 (480 Volts).

By Vehicle Type: Based on the Vehicle Type, Global Electric Vehicle Charging System And Equipment Market is segmented as; Battery Electric Vehicle, Hybrid Electric Vehicle, Plug-In Electric Vehicle.

By Charger Type Outlook: Based on the Charger Type Outlook, Global Electric Vehicle Charging System And Equipment Market is segmented as; Fast Charger, Slow Charger.

By Mode Of Charger: Based on the Mode Of Charger, Global Electric Vehicle Charging System And Equipment Market is segmented as; Plug-In Charger, Wireless Charger.

By Connector Outlook: Based on the Connector Outlook, Global Electric Vehicle Charging System And Equipment Market is segmented as; CHAdeMO (Charge de MOve), Combined Charging System, Others.

By End User: Based on the End User, Global Electric Vehicle Charging System And Equipment Market is segmented as; Commercial, Residential.

By Region: Asia Pacific dominated the market and contributed more to global revenue than any other region. The electric car industry is centred in nations like China, Japan, and South Korea, who are spending extensively in the construction of a charging infrastructure.

In addition, South Korea announced million-dollar investment to enhance the nation's EV charging infrastructure as part of its effort to support environmentally friendly cars in the transportation industry. Additionally, the number of electric charging stations in Japan has overtaken that of gas stations.