By 2032, the electric vehicle charging station market will be valued at USD 316.9 units, growing at a CAGR of 32.97% (2024 - 2032)

Pune, India, Dec 2022, MRFR Press Release/Market Research Future has published a Cooked Research Report on the Global Electric Vehicle Charging Station Market.

According to US Department of Energy data, 15 million electric vehicles will be in the US by 2032, necessitating the installation of 27,000 DCFC and 600,000 level 2 public charging stations. To deploy electric vehicle charging infrastructure across the nation, government agencies are competing with one another and working with major electric vehicle and related system development companies, automakers, oil companies, electrical utilities, and charging network companies. For instance, Volkswagen invested USD 2 billion in the nation's charging infrastructure in June 2019 and erected 2,800 electric vehicle charging stations in 17 of the main US cities.

Additionally, many European nations are constantly constructing incentive programs to promote the use of electric vehicles throughout the continent.  Several nations are focusing on raising demand for and awareness of electric vehicles. To keep up with the ongoing electric vehicle charging station market trends, economies worldwide, including India, have begun concentrating on expanding investments in creating a charging infrastructure. Major market companies have started a few strategic initiatives, although they are still in the early stages and focused on a small number of areas. However, the strategic efforts are projected to expand over the forecast period. Therefore, it is anticipated that the impact of key companies' strategic initiatives will increase from a moderate level to a high level throughout the projected period.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Electric Vehicle Charging Station Market Research Report

Electric Vehicle Charging Station Market Segmentation

The global market segments based on charging stations include AC station, DC station, and inductive charging station. During the projection period, the AC station segment is anticipated to grow fastest and hold the largest electric vehicle charging station market share.

Based on the connector type, the global electric vehicle charging stations market is segmented into the combination charging system, chademo, and other categories. During the anticipated period, the other sector is anticipated to grow at the fastest rate and have the largest electric vehicle charging station market share for electric vehicle charging stations. Type 1/Yazaki (SAE J1772, IEC 62196-1), type 2 (IEC 62196-2), and Tesla supercharger connectors are included in the other sector.

The global market is segmented based on application into residential and commercial. During the projection period, the residential segment is anticipated to have the greatest CAGR and the largest market share.

The global market is divided into three segments based on the kind of vehicle: BEV, PHEV, and HEV. During the forecast period, the BEV sector is anticipated to grow the fastest and have the market share of the largest electric vehicle charging stations.

Regional Analysis

According to the electric vehicle charging station market forecast, by 2032, it is anticipated that the Asia-Pacific will have about 43% of the global market share for electric vehicle charging stations. Introducing government initiatives like tax breaks and incentives to encourage EV adoption will fuel regional industry expansion. For instance, China said in June 2022 that it was in talks with automakers to extend costly EV subsidies due to cease in 2022. Additionally, retail MNCs are expanding the installation of EV charging stations, providing considerable growth opportunities to regional industry players.

Key Players

However, the companies that are contributing to the market and keeping up with the electric vehicle charging station market trends are:

• Siemens


• Schneider Electric


• ABB


• Tesla


• Eaton


• EVgo Services LLC


• ChargePoint Inc.


• Leviton Manufacturing Co. Inc.


• The New Motion B.V.


• Webasto Group