China Electric Vehicle Charging Station Market Overview:
China Electric Vehicle Charging Station Market Size was valued at USD 10.8 Billion in 2022. The China Electric Vehicle Charging Station market industry is projected to grow from USD 15.1 Billion in 2023 to USD 227.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 40.30% during the forecast period (2024 - 2032). Increasing use of electric vehicle charging stations for vehicles connected to the grid and growing sustainability are the main market drivers anticipated to propel the China Electric Vehicle Charging Station market in China.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
In August 2023, Hyundai Motor Group revealed its collaboration with the Chinese EV charging service provider NaaS Technology for future opportunities in the EV charging sector in China. It was learned that Hyundai, at the Beijing headquarters of NaaS, entered into a preliminary agreement to create EV charging services tailored to customers on the company's serviced platform, using the data and Naas's charging infrastructure.
China Electric Vehicle Charging Station Market Trends
Increasing demand for public charging stations is driving the market growth.
In China, the accessibility of public EV charging stations is essential for adopting electric vehicles. Fast charging availability at public charging stations is crucial when buying an electric car. It is anticipated to accelerate the public charging segment's revenue growth. As the number of electric vehicle (EV) users rises, the Chinese government is installing public charging stations rapidly. China has implemented regulations that reduce taxes and offer incentives to promote the usage of electric vehicles.
Additionally, it encourages the expansion of EV manufacturers and other sectors by giving grants or establishing regulations that favor EV-related companies and speed up their growth. The public charging station market is predicted to develop due to a consistent increase in urbanization, economic growth, travel demand, and higher investments in electric mobility to support environmental sustainability and energy storage. Public charging stations are utilized by three major vehicle segments in China: buses, taxis, and electric light cars. Most other vehicles need public fast charging, except buses, which need dedicated captive infrastructure. Future market expansion is anticipated to be aided by the country's pro-EV regulations and the electric vehicle industry's rapid growth.
Additionally, China plans to sell 40% of electric vehicles (EVs) by 2030, meaning that many passenger cars require charging. By 2025, the government wants adequate infrastructure for more than 20 million cars to have access to charging. Guangdong and Shanghai, two of the country's most populous coastal regions, account for almost 70% of China's 810,000 public charging stations.
According to the National Development and Reform Commission and several other institutions, guidelines for the government's "rural revitalization" initiative mandated that charging stations be placed in every county and hamlet. Sales of EVs increased dramatically in recent years despite the phase-out of subsidies for their purchase. The International Energy Agency (IEA) estimates that 6 million battery-electric vehicles will be sold in China in 2022, making up over 22% of the country's total new car sales. After accounting for the expansion, the Chinese government is also taking steps to develop the nation's infrastructure for charging. Thus driving the China Electric Vehicle Charging Station market revenue.
China Electric Vehicle Charging Station Market Segment Insights:
China Electric Vehicle Charging Station Level of Charging Insights
Based on the Level of Charging, the China Electric Vehicle Charging Station market segmentation includes level 1, level 2, and level 3. The level 2 segment mostly dominated the market. This charging is appropriate for homes, offices, and public charging stations. It operates between 208 and 240 volts. As of 2022, level 2 charging is the most widely used for electric vehicles due to its ease of installation. The maximum charge rate of the car and the level 2 charger's power output determine how much range level 2 charging can add in an hour, ranging from 12 to 80 miles.
The level 3 category is anticipated to be the fastest growing because of its capacity for quick charging. The fastest charging option, Level 3 chargers, can use direct current to charge electric vehicles at 3 to 20 miles per minute. Since level 3 chargers require a higher voltage than level 1 and level 2, they must be installed in home settings.
Figure 1: China Electric Vehicle Charging Station Market, by Level of Charging, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
China Electric Vehicle Charging Station Charging Station Type Insights
Based on the Charging Station Type, the China Electric Vehicle Charging Station market segmentation includes AC charging, DC charging, and wireless charging. The DC charging category earned the greatest revenue due to the DC charging stations' appealing pricing and fast charging capability, which are primarily responsible for this. The DC charging station charges the battery directly by converting the power before it reaches the car's converter. As it converts power before it enters the car's converter, the DC charging station charges the battery directly.
The electric vehicle charging station AC charging segment is anticipated to grow fastest during the forecast period. Infrastructure development in urban and suburban areas greatly depends on AC charging stations. To meet the changing demands of electric vehicle owners who need access to home charging, they are frequently placed in public parking lots, malls, and other busy locations.
China Electric Vehicle Charging Station Connector Type Insights
Based on Connector Type, the China Electric Vehicle Charging Station market segmentation includes Normal Charging, Type 2, CCS, CHAdeMO, Tesla SC, and GB/T. The GB/T category has the largest market share. China's high rate of GB/T connection adoption. All EV chargers in China use the GB/T connector, the official EV plug standard. Robust EV charging infrastructure and high EV sales likely drive category expansion in China.
The CCS category is expected to have the quickest rate. The desires of large automakers may influence the selection of charging standards. Leading electric car makers may support the CCS standard, which could increase demand for CCS connector types in the infrastructure used for charging.
China Electric Vehicle Charging Station Application Insights
Based on the Application, the China Electric Vehicle Charging Station market segmentation includes private and public. The public category has the largest market share. The public EV charging infrastructure is the industry's future; for the EV sector to grow sustainably, this infrastructure needs to be dependable and publicly accessible. Any station that allows people to fill their automobiles with electricity is considered public EV charging. These can be utilized at specialized stations (similar to the ones found at petrol stations today) or places where the general public has access, including retail stores and apartment buildings. The public charging station is available to vehicles without any restrictions.
The private category is expected to have the quickest rate. Private charging stations are located in homes or workplaces and only accessible by owners or small groups. As a result, constructing public charging stations is a priority for OEMs and other utilities.
China Electric Vehicle Charging Station Mounting Type Insights
Based on Mounting Type, the China Electric Vehicle Charging Station market segmentation includes wall mount, pedestal mount, and ceiling mount. The wall mount category has the largest market share. Installing wall-mounted charging stations is generally less complicated than freestanding charging units. The ease of installation may increase their appeal to businesses, developers, and homeowners who want to include infrastructure for charging.
The fastest growing is anticipated for the pedestal mount category. Pedestal-mounted devices frequently allow several charging stations to be installed in one building. This multi-point capability helps meet the needs of a wider user base by enabling many electric vehicles to charge simultaneously in high-traffic locations.
China Electric Vehicle Charging Station Vehicle Type Insights
Based on Vehicle Type, the China Electric Vehicle Charging Station market segmentation includes passenger cars, battery electric vehicles (BEVs), plug-in hybrid vehicles (PHEV), heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters. The passenger cars category has the largest market share. The growing popularity of electric passenger cars in China directly relates to the overall need for EV charging stations. Expanded and easily accessible charging infrastructure is required with the growing number of people opting for electric automobiles.
The battery electric vehicle (BEV) category is expected to have the quickest rate. Advancements in battery technology, such as higher energy density and quicker charging times, impact the need for charging stations. Technology advancements in batteries help make BEVs more affordable for many users.
China Electric Vehicle Charging Station End User Insights
Based on End Users, the China Electric Vehicle Charging Station market segmentation includes commercial EV charging stations (commercial, public EV charging stations, [on-road charging, parking spaces, destination chargers], commercial private EV charging stations, [fleet charging, captive charging]), and residential EV charging stations. The commercial EV charging stations category has the largest market share. The leading position in this market is due to government programs and financial support provided by manufacturers and other companies to increase public EVCI. Furthermore, long-distance driving requires the establishment of supporting infrastructure for EV charging in public areas, as more than overnight or home charging is required.
The fastest growing is anticipated for the residential EV charging stations category. The development of domestic EV chargers is currently the primary focus of car charger manufacturers to guarantee greater availability and longer vehicle range. OEMs are collaborating with utility service providers, corporate entities, charging network operators, and EV manufacturers to expand their geographic reach and facilitate the economical establishment of the EV charging infrastructure by installing fast charging stations.
China Electric Vehicle Charging Station Country Insights
China is the largest market for electric cars and buses; the battery electric vehicle market in China, which has substantial government support, is a strong driver of the market for electric vehicle charging stations. China increased the incentives for buying new energy cars (NEVs). In January 2020, Tesla Motors opened a USD 2 billion facility in Shanghai. By March 2020, when the COVID-19 epidemic closed all of the company's other global operations, the plant produced nearly 3,000 cars weekly. As per the data published by the China Electric Charging Infrastructure Promotion in August 2020, members of the Alliance stated that by the end of July 2020, around 566,000 public charging stations had been installed and operational throughout the nation. Of these, 488 have AC and DC capabilities, 240,000 are DC, and 326,000 are AC. The nation's charging capacity reached 670 million kWh in July 2020, a 52.4% year-over-year increase.
China Electric Vehicle Charging Station Key Market Players & Competitive Insights
The China Electric Vehicle Charging Station systems market is anticipated to expand further due to large industry players investing heavily in R&D to expand their product lines. In tandem with these significant developments in the market, industry players undertake diverse tactical initiatives to expand their market penetration. These activities include new component types, contracts, mergers and acquisitions, higher investments, and collaboration with other companies. It must offer reasonably priced products for the Electric Vehicle Charging Station industry to expand and prosper in a more competitive and dynamic market.
Major China Electric Vehicle Charging Station market players are attempting to increase market demand by investing in research and development operations, including Scheinder Electric, Blink Charging Co., Wi Tricity Corporation, AeroViroment, Inc., ChargePoint, Inc., EVgo Services LLC., Mojo Mobility, Inc., Evatran Group, HellaKGaAHueck& Co., General Electric, Robert Bosch GmbH, Chargemaster plc., Siemens AG, Efacec, Allego, and Denso Corporation.
Key Companies in the China Electric Vehicle Charging Station market include
- Scheinder Electric
- Blink Charging Co.
- Wi Tricity Corporation
- AeroViroment, Inc.
- ChargePoint, Inc.
- EVgo Services LLC.
- Mojo Mobility, Inc.
- Evatran Group
- HellaKGaAHueck& Co.
- General Electric
- Robert Bosch GmbH
- Chargemaster plc.
- Siemens AG
- Efacec
- Allego
- Denso Corporation
China Electric Vehicle Charging Station Industry Developments
September 2023: Leading Chinese oil and gas corporation PetroChina announced that it has acquired Potevio New Energy Co Ltd, a startup that provides EV charging services. Its goal is to make a name in China's electric car charging industry. Potevio was predicted to run 50,000 charging stations in more than 50 Chinese cities by the end of 2021.
June 2023: The Chinese government announced that it is committed to increasing the number of new energy vehicle (NEV) charging stations along the nation's expressways. It also reported that 18,590 charging stations have been installed nationwide. Authorities added that 27,000 parking spaces have been selected and would only be used to install electric vehicle charging stations nationwide.
By 2030, about 40% of vehicles sold in China will be EVs, according to the targets set by the government, which also means that many more passenger' vehicles will have to be charged. The government hopes that it will be sufficient to have enough charging infrastructure in place by the year 2025 to cater to the requirement of over 20 million cars. Even as the number of EVs in China has been increasing, charges are mostly concentrated in the major cities, where more than 70% of the 810000 public charging points are located, such as Guangdong and Shanghai.
China Electric Vehicle Charging Station Market Segmentation:
China Electric Vehicle Charging Station Level of Charging Outlook
China Electric Vehicle Charging Station Charging Station Type Outlook
- AC Charging
- DC Charging
- Wireless Charging
China Electric Vehicle Charging Station Connector Type Outlook
- Normal Charging
- Type 2
- CCS
- CHAdeMO
- Tesla SC
- GB/T
China Electric Vehicle Charging Station Application Outlook
China Electric Vehicle Charging Station Mounting Type Outlook
- Wall Mount
- Pedestal Mount
- Ceiling Mount
China Electric Vehicle Charging Station Vehicle Type Outlook
- Passenger Cars
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Vehicle(PHEV)
- Heavy Commercial Vehicles
- Light Commercial Vehicles
- Two-wheelers & Scooters
China Electric Vehicle Charging Station End User Outlook
- Commercial EV Charging Stations
- Commercial Public EV Charging Stations
- On-Road Charging
- Parking Spaces
- Destination Chargers
- Commercial Private EV Charging Stations
- Fleet Charging
- Captive Charging
- Residential EV Charging Stations
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 10.8 Billion |
| Market Size 2023 |
USD 15.1 Billion |
| Market Size 2032 |
USD 227.4 Billion |
| Compound Annual Growth Rate (CAGR) |
40.30% (2024-2032) |
| Base Year |
2023 |
| Market Forecast Period |
2024-2032 |
| Historical Data |
2019- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Level of Charging, Charging Station Type, Connector Type, Application, Mounting Type, Vehicle Type, and End User |
| Countries Covered |
China |
| Key Companies Profiled |
Scheinder Electric, Blink Charging Co., Wi Tricity Corporation, AeroViroment, Inc., ChargePoint, Inc., EVgo Services LLC., Mojo Mobility, Inc., Evatran Group, HellaKGaAHueck& Co., General Electric, Robert Bosch GmbH, Chargemaster plc., Siemens AG, Efacec, Allego, and Denso Corporation. |
| Key Market Opportunities |
Strategies for implementing smart city deployment. Growing consumer demand for eco-friendly transportation |
| Key Market Dynamics |
Increasing use of electric vehicle charging stations for vehicles connected to the grid and growing sustainability |
Frequently Asked Questions (FAQ) :
The China Electric Vehicle Charging Station market size was valued at USD 10.8 Billion in 2023.
The market is projected to grow at a CAGR of 40.30% during the forecast period, 2024-2032.
The key players in the market are Scheinder Electric, Blink Charging Co., Wi Tricity Corporation, AeroViroment, Inc., ChargePoint, Inc., EVgo Services LLC., Mojo Mobility, Inc., Evatran Group, HellaKGaAHueck& Co., General Electric, Robert Bosch GmbH, Chargemaster plc., Siemens AG, Efacec, Allego, and Denso Corporation, among others.
The level 2 category dominated the market in 2023.
The DC charging category had the largest share of the market.
