ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET SIZE TO CROSS USD 14 BILLION IN 2026, GROWING AT A CAGR OF 36% DURING THE PERIOD 2021-2026

Electric Vehicle Charging Infrastructure Market Size, Share, Trends Analysis Report by Application (Public and Private), Mode of Charging (Wired and Wireless), Voltage (Level 1, Level 2, and Level 3–5), Operation Sites (Petrol Pumps, Offices, Supermarkets, Public Parks, and Others), and Geography (North America, Europe, APAC, Latin America, and Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026

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Most Exhaustive Report

236 Pages

75 Tables

110 Charts

5 Regions

15 Countries

33 Companies

5 Market Segment

GLOBAL ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET REPORT SCOPE

Report Attribute Details
Market Size (Revenue) USD 14 BILLION (2026)
Market Size (Volume) 6,600 THOUSAND UNITS (2026)
CAGR 36% (2021-2026)
Base Year 2020
Forecast Year 2021-2026
Market Segments Application (Public and Private), Mode of Charging (Wired and Wireless), Voltage (Level 1, Level 2, and Level 3–5), Operation Sites (Petrol Pumps, Offices, Supermarkets, Public Parks, and Others)
Geographic Analysis North America, Europe, APAC, Latin America, and Middle East & Africa
Countries Covered US, Canada, UK, Germany, France, Netherlands, China, Japan, South Korea, Australia, India, Brazil, Mexico, Turkey, and UAE

EV CHARGING INFRASTRUCTURE INDUSTRY INSIGHTS

The global electric vehicle charging infrastructure market size to cross USD 14 billion in 2026, growing at a CAGR of 36% during the forecast period.

Automobile manufacturers are increasing their production of electric vehicles. The global electric vehicle sales were estimated at around 2.1 million in 2019, which brought the cumulative supply of electric vehicles to approximately 7.2 million EVs globally. For instance, in November 2019, Volkswagen opened its electric car assembly plant in North America. EV charging market vendors are helping countries to boost their electric vehicle penetration by investing and installing a greater number of EV charging points across countries since it is one of the biggest challenges in the EV market. Many automotive players are partnering with key market vendors and other manufacturers to provide customized infrastructure as part of their offerings. Utility companies are enhancing their business models through M&As and partnerships with pure players to provide a fully integrated EV ecosystem in the market.

The APAC market is projected to be driven by the large-scale development of EV charging networks in China, increasing demand for affordable electric vehicles for everyday use, and governments supporting electric vehicles during the forecast period. The expansion of advanced technology to boost electrification in China fuels the country's rapidly growing economy. China invested roughly USD 2.4 billion in improving the charging infrastructure until 2020. Governments of Japan and Korea have announced plans to dramatically increase the number of electric vehicle charging systems in their respective countries in the coming years. Moreover, growing innovations, include automated robot-based, wireless, and ultra-fast charger systems, are expected to boost the demand during the forecast period.

SNIPPETS

  • In 2021, global EV revenues are expected to increase by 50% or more. By 2030, the global EV market is expected to see a significant rise in the share of battery electric vehicles (BEVs) and hybrid cars.
  • Level 2 charging infrastructure expects to observe an increment growth of over 5,000 thousand units by 2026.
  • The wired charging infrastructure segment is likely to reach over 5,500 thousand units by 2026 due to cost efficiency and high flexibility.
  • The global private EV charging infrastructure market is likely to grow at a CAGR of over 30% from 2020 to 2026.
  • New product releases, industry expansions, mergers, alliances, and agreements are some of the tactics used by quick charger device manufacturers.

ELECTRIC VEHICLE CHARGING INFRASTRUCTURE MARKET SEGMENTATION

This research report includes a detailed segmentation by

  • Application
  • Mode of Charging
  • Voltage
  • Operation Sites
  • Geography

SEGMENTATION ANALYSIS

  • The global private electric vehicle charging station market size is likely to reach 3.8 million units by 2026. Consumers currently prefer public charging stations, and the demand for such systems is higher due to tax incentives and the free cost. For instance, in 2020, ABB installed around 80 charging points in major cities across India and is expected to expand in other developing countries during the forecast period. Such expansion is expected to boost market growth over the next few years. As of 2019, in the US, there were 17,000–18,000 public charger stations located across the country.
  • The global electric vehicle charging infrastructure market by petrol pumps is likely to grow at a CAGR of approx. 31% from 2020 to 2026. Petrol pumps, supermarkets, shopping malls, and others are common commercial places where the deployment of charging infrastructure has increased in the last years. APAC and European countries are heavily expanding their resources to install EV recharge stations at petrol pumps.
  • The wired electric vehicle charging infrastructure market share accounts for an 80% revenue share and is expected to reach over 5.5 million units by 2026. Electric vehicles will continue to reduce the world's carbon footprint. In countries such as China, Norway, Iceland, and Sweden, hybrid battery vehicles and all-electric cars have grown significantly. The global wireless infrastructure segment is growing at a CAGR of approx. 28%.
  • The global level 1 voltage charging infrastructure market is expected to grow at a CAGR of over 13% from 2020 to 2026. Level 1 charging is increasing in the residential sector market. The global level 2 voltage infrastructure segment is likely to grow at a CAGR of over 32%, expecting to reach over 5 million units by 2026. The level 2 systems are a low-cost, high-speed recharging option. The demand for fast and ultra-fast chargers has been increasing tremendously from several regions as the adoption rate of EVs has increased. The global level 3–5 voltage market is likely to reach over 1.5 million units by 2026.

GEOGRAPHICAL ANALYSIS

APAC electric vehicle charging infrastructure market is expected to grow at a CAGR of over 31% during the forecast period.

APAC is likely to lead the global electric vehicle charging infrastructure market share in revenue and volume. China, Japan, South Korea, and India are the fastest-growing markets in the region. The growing demand for electric cars, government incentives and discounts for electric vehicles, and environmental issues are other major factors driving the infrastructure development in the region.

INSIGHTS BY VENDORS

ABB, Star Charge, and DBT Technologies are among the most prominent vendors.

APAC, Europe, and North American economies are the three most promising markets for electric vehicles and associated infrastructure. These three regions account for a significant share of the market. Opportunities in the electric vehicle charging station market are numerous because these are mainly untapped with no clear market leaders. All markets are expected to expand rapidly over the next decade, coinciding with the anticipated mass acceptance of electric vehicles (EVs). Product launches are a popular approach used by industry leaders to broaden their product portfolios and expand their global presence. For instance, in March 2019, Tesla Inc. unveiled the V3 Supercharger, the company's third generation of Supercharger, charging a vehicle in less than 15 minutes.

The global electric vehicle charging infrastructure market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments -

By Application

  • Public
  • Private

By Mode of Charging

  • Wired
  • Wireless

By Voltage

  • Level 1
  • Level 2
  • Level 3-5

By Operation Sites

  • Petrol Pumps
  • Offices
  • Supermarkets
  • Public Parks
  • Others

By Geography

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Netherlands
  • APAC
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Latin America
    • Mexico
    • Brazil
  • Middle East & Africa
    • UAE
    • Turkey

Frequently Asked Questions

The global electric vehicle charging market expects to cross over USD 14 billion by 2026
The global electric vehicle sold over 2 million in 2019.
ABB, EVgo, ChargePoint, EVBox, Eaton, DBT, GS Yuasa International, and PLUGLESS POWER are the key players in the market.
In terms of operation sites, petrol pumps are likely to grow at a staggering CAGR of over 31% from 2020 to 2026.
The introduction of automated robot-based electric vehicle charging infrastructure and the increasing popularity of ultra-fast charging technology are the key technologies driving electric vehicle charging infrastructure growth.
Favorable government policies and initiatives and the evolution of several business models are the major factors driving EV vehicle adoption.
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