Connect with us

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website. .

Research Reports

EV Charging Station Market recording a CAGR of 26.6% by year 2033

Research Report 1 - Global Banking | Finance

The industry is expanding as a result of recent technological advancements including the fusion of all-EV charging station systems with real-time information systems and the internet of things (IoT). The growing acceptance and use of electric vehicles has highlighted the need for charging infrastructure development.

NEWARK, Del: The global EV charging station market is projected to have a high-paced CAGR of 26.6% during the forecast period. The current valuation of the EV charging station market is US$ 10,768.2 Million in 2023. The value of the EV charging station market is anticipated to reach a high of US$ 113,889.1 Million by the year 2033.

Restrictive pollution and fuel economy rules, government incentives, and an increase in the number of electric car sales are all factors driving the demand for EV charging stations. Advancements in technology and software for electric vehicle charging are predicted to change how EV owners use and benefit from these services. 

Smart car API and charging networks, for instance, accurately determine an electric vehicle’s charge time before the driver plugs the car into a station. Green energy is also projected to play an important role in both public and household electric vehicle charging locations. For owners of EVs, carbon emissions are a major concern.

Request a Sample of this Report: 

To address these problems, businesses are rapidly improving the charging technology of their electric vehicle charging stations. When opposed to residential areas, commercial spaces have a much higher market penetration of EV charging equipment. The number of corporate charging stations is expected to expand in tandem with the increasing popularity of electric vehicles. Efforts to improve charging infrastructure in commercial areas would be critical in increasing EV adoption, as overnight charging at residential complexes or individual residences would not be adequate for long-distance travel. 

Furthermore, public charging infrastructure would permit the ultra-fast charging capabilities required for long-distance travel. EV chargers for home areas, on the other hand, have substantial development potential since they provide a cheaper and more convenient means of charging electric vehicles than commercial charging stations. 

Electric vehicle manufacturers are partnering with car rental companies to integrate chargers into current infrastructure. For example, one market player recently announced a collaboration with Green Motion, a vehicle rental service provider, to supply integrated chargers inside buildings with energy storage. 

Various automakers are investing in the development of Car2X technology for charging infrastructure, which is fueling expansion even further. Several initiatives have been launched in France, India, the Netherlands, and Canada to increase the adoption of EV charging stations. 

EVs are anticipated to attract major attention as governments around the world focus on emerging from the epidemic with a stronger and more resilient economy. In the United States, for example, California is emerging with aggressive electric car objectives, which are projected to have a favourable influence post-pandemic and enhance the global EV charging station market growth.

However, the high initial cost of Level 3 fast chargers and ultra-fast chargers, on the other hand, is the biggest impediment to the growth of the EV charging station market. People prefer to drive fossil-fuel vehicles for 5-7 minutes, but level 1 and level 2 chargers might take anything from 6 to 16 hours to charge completely. As a result, there is a market need for faster chargers that can charge EVs in less than 30 minutes.

Request for Customization: 

Key Takeaways:

  • During the forecast period, the U.K. is estimated to account for a significant share of the global EV charging station market. This is attributed to the government adopting the Automated and Electric Vehicles (AEV) Act. It gives the government enormous power to hasten the installation of EVCI in gas stations and on roads. 
  • The EV charging station market in Asia Pacific is predicted to hold the largest share, particularly in China and India, during the projected period. This is owing to key companies offering full end-to-end services ranging from captive charger installation to maintenance. Collaboration between various OEMs, automotive manufacturers, and charging infrastructure providers is also propelling the market growth.
  • As they are more cost-effective to the providers, the “public charging” application type, accounts for a significant share and is the most innovative area for key players.

Competitive Landscape:

Industry participants participate in a flood of focused product launches and global expansion to boost the brand and money. In order to expand their consumer base and strengthen their position, they are also expanding their reach across several continents and entering new markets, particularly in emerging economies. Industry participants are offering new creative products to the market as a result of increased carbon emissions and the development of electric and hybrid vehicle technology. These factors are projected to drive the global EV charging station market growth.

Key Players:

  • ABB Ltd.
  • ChargePoint Inc.
  • EVgo Services LLC
  • Scheinder Electric
  • Blink Charging Co.
  • Toshiba Corporation
  • Mojo Mobility Inc.
  • General Electric
  • Robert Bosch GmbH
  • Chargemaster plc
  • Siemens AG
  • Denso Corporation
  • Tesla Inc.
  • Infineon Technologies AG
  • Qualcomm Technologies Inc.

Recent Developments:

  • In 2015, ChargePoint Inc., Volkswagen Group, and BMW AG announced plans to construct 100 DC fast chargers on the United States’ West and East coasts. Some companies favor a merger and acquisition strategy to increase their market share.
  • In 2018, BP Plc announced the acquisition of Chargemaster Plc, a prominent producer of EV chargers in the United Kingdom. Following the acquisition, ChargemasterPlc was renamed BP Charge master.

For more Information: 

Key Segments Profiled in the EV Charging Station Market Survey

By Level of Charging:

  • Level 1
  • Level 2
  • Level 3

By Charging Station:

  • AC Charging
  • DC Charging
  • Wireless Charging

By Supplier Type:

  • OE Charging Station
  • Private Charging Station

By Vehicle Type:

  • Passenger Cars
  • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Vehicle (PHEV)
  • Heavy Commercial Vehicles
  • Light Commercial Vehicles
  • Two-wheelers & Scooters

By Installation Type:

  • Portable
  • Fixed
  • Residential
  • Commercial

By Application:

  • Private
  • Public

By End User:

  • Commercial Charging Stations (Private/Public)
  • Residential Charging Stations

By Region:

  • North America
  • Latin America
  • Asia Pacific
  • MEA
  • Europe

Table of Content

  1. Executive Summary

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

  1. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

  1. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

Request to View TOC: 

Explore Wide-ranging Coverage of FMI’s Automotive Landscape

Electric Vehicle Battery Market Growth : is set to strengthen its market hold in global market at a promising CAGR of 8.5%, while it is forecasted to hold a revenue of USD 18.09 Billion in 2032.

Electric Vehicle Insulation Market Demand : is likely to be worth US$ 43,795.7 Million by 2033, up from US$ 6,145.1 Million in 2023. 

Boat Hook Market Size : is predicted to shape up with a CAGR of 3% to 5% between 2022 and 2032.

Automotive Natural Gas Vehicle Market Share : is expected to surge at a CAGR of 7% during forecast period 2022 to 2032.

Vehicle Electrification Market Outlook : to expand at a 10.3% CAGR by year 2022-2032.

About Future Market Insights, Inc.

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

Contact Us:

Future Market Insights Inc.

Christiana Corporate, 200 Continental Drive,

Suite 401, Newark, Delaware – 19713, USA

T: +1-845-579-5705

LinkedInTwitterBlogs | YouTube
For Sales Enquiries: [email protected]


Global Banking & Finance Review


Why waste money on news and opinions when you can access them for free?

Take advantage of our newsletter subscription and stay informed on the go!

By submitting this form, you are consenting to receive marketing emails from: Global Banking & Finance Review │ Banking │ Finance │ Technology. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Post