Fleet Charging Market Research Report By Offering (EV Charging Station and Services (Installation Services and Support & Maintenance Services)), by Installation Type (Fixed and Portable), by Type (AC Charging Station and DC Charging Station), by Charging Level (Level 2 and Level 3), by Phase (Single Phase and Three Phase), by Vehicle Type (Passenger Cars and Commercial Vehicles (Light Vehicle, Medium Vehicle and Heavy vehicle)), by End Users (Service & Last Mile Companies, Trucking Companies, Public Transportation and Others), and By Region

Global Fleet Charging Market Overview

Fleet Charging Market Size was valued at USD 3,454.8 million in 2022. The Fleet Charging market industry is projected to grow from USD 4,083.9 Million in 2023 to USD 26,441.3 million by 2032, exhibiting a compound annual growth rate (CAGR) of 23.1% during the forecast period (2023 - 2032).  Electric vehicles use energy stored in the vehicle's onboard batteries to power one or more electric motors that power the wheels. Fleet charging services allow EV drivers to charge their vehicles publicly. Most public fleet charging stations are Level 2 chargers, which can fully charge an EV in 4-8 hours. More extensive charging networks have mobile apps where drivers can locate stations and pay for charging. 

Some stations charge by the minute, while others charge a subscription fee. Most charging networks are interoperable so that drivers can use different provider stations. These services help alleviate range anxiety for EV drivers by providing reliable charging options when away from home. Public charging allows electric vehicles to be practical for more everyday driving scenarios. The Fleet Charging Market is driven by government support and incentives towards the EV transition, increasing demand for commercial electric vehicles propelling the demand for charging infrastructure, rising fuel prices and environmental concerns propelling the demand for commercial EV and charging infrastructure demand.

As per Analyst at MRFR, “Rising fuel prices and environmental concerns drive the demand for commercial electric vehicles and infrastructure in the fleet charging market. As fuel costs continue to increase, commercial fleet operators are looking to reduce operating expenses through electrification.”

Figure 1: Fleet Charging Market Size 2019-2032 (Usd Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fleet Charging Market Trends

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  The Growth Of Public Charging Stations

  
  

Increasing the number of ev charging stations will improve the convenience and accessibility of charging for fleet vehicles, allowing them to drive longer and travel longer distances. This trend will support the expansion of the fleet charging market, contributing to greater adoption of electric vehicles and ultimately driving the transition to a more sustainable transport sector. Several factors are driving the growth of public charging stations in the fleet charging market. First, governments and regulators are introducing incentives and subsidies to encourage EV adoption, leading to increased demand for charging infrastructure. 

Advances in technology have also improved the efficiency and reliability of public charging stations, increasing their popularity. According to the U.S. Department of Energy, In Q4 2022, the number of electric vehicle supply equipment (EVSE) ports in the Station Locator grew by 5.7%, or 8,394 EVSE ports. Public EVSE ports increased by 6.3%, or 8,082 EVSE ports, bringing the total number of public ports in the Station Locator to 136,513 and accounting for most ports in the Station Locator. Private EVSE ports increased by 1.6% or 312 ports. The North Central region had the most significant increase in public charging infrastructure in Q4 (8.6%), though California, which has almost one-third of the country’s public charging infrastructure, continues to lead the country in the number of public ports.

Fleet Charging Market Segment Insights:

Fleet Charging Offering Insights

By offering the Fleet Charging Market is segmented into EV charging station and services The services segment is further bifurcated into installation services and support & maintenance services. EV Charging Station would be the majority shareholder in 2022, contributing around 80.6% to the market revenue. The growing adoption of smart and efficient transportation presents a significant opportunity in the fleet charging market.

Fleet Charging Installation Type Insights

By installation type the Fleet Charging Market is segmented into fixed and portable. Fixed would be the majority shareholder in 2022, contributing around 93.9% to the market revenue. As electric vehicles grow in popularity around the world, so does the demand for electric vehicle charging stations. According to IEA, there were 2.7 million public charging points worldwide, more than 900 000 of which were installed in 2022, about a 55% increase on 2021.

Figure 2: Fleet Charging Market, By Type, 2022 Vs 2032 (Usd Million)

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fleet Charging Type Insights

Based on type the Fleet Charging Market is segmented into AC Charging Station and DC Charging Station. AC Charging Station held the majority share in 2022. AC charging stations, also known as AC charging stations, are a type of electric vehicle (EV) charging infrastructure that uses the standard electrical grid. These convert alternating current from the grid into the direct current required by electric vehicle batteries through an integrated charger. AC charging stations are generally slower than DC charging stations and typically provide between 3 and 22 kilowatts (kW) of charging power.

Fleet Charging Charging Level Insights

By charging level the Fleet Charging Market is segmented into Level 2 and Level 3. Level 2 would be the majority shareholder in 2022, contributing around 63.8% to the market revenue. Level 2 charging, on the other hand, uses a special 240-volt AC power source that is commonly found at charging stations and in homes. This level charges faster than Level 1, allowing electric vehicles to charge faster and more efficiently.

Fleet Charging Phase Insights

By phase the Fleet Charging Market is segmented into single phase and three phase. Single phase would be the majority shareholder in 2022, contributing around 61.7% to the market revenue. The home private chargers are generally used with a single phase plug hence this segment occupies the largest share.  

Fleet Charging Charging Level Insights

By vehicle type the Fleet Charging Market is segmented passenger cars and commercial vehicles. The commercial vehicles is further bifurcated into light vehicle, medium vehicle and heavy vehicle. Passenger cars would be the majority shareholder in 2022, contributing around 61.7% to the market revenue. Electric vehicles amounted to some 14 percent of global passenger car sales in 2022. One in every 7 cars sold is an electric vehicle. According to IEA, electric car markets are seeing exponential growth as sales exceeded 10 million in 2022. In 2022, Tesla Model Y was the top-selling electric car by far.

Fleet Charging End-User Insights

Based on end-user, the Fleet Charging Market is segmented into service & last mile companies, trucking companies, public transportation and others. The service & last mile companies held the majority share in 2022. Electric vehicle fleet operators can collaborate with charging infrastructure companies, maintenance providers, and app developers to optimize last-mile delivery.

Fleet Charging Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. Asia-Pacific accounted for ~ 76.4% fleet charging market in 2022. Asia Pacific is likely to be the largest contributor to the fleet charging market. This includes countries such as China, Japan, India, South Korea, Thailand, Taiwan, Malaysia, Vietnam and Rest of Asia-Pacific. The electric vehicle fleet charging market in Asia Pacific has grown significantly in recent years and is expected to continue to grow rapidly. Several start-ups and established players have entered the market to meet this demand. As supportive government policies and initiatives drive the uptake of electric vehicles across the region, demand for public charging infrastructure is rapidly increasing. China was once again the front runner, accounting for around 60% of global electric vehicle sales. More than half of the electric vehicles on the world's roads are now in China, and the country's new energy vehicle sales have already exceeded the 2025 target.

North America is one of the fastest growing markets for fleet charging in the world. The United States installed 6,300 fast chargers in 2022, about three-quarters of which were Tesla Superchargers. The total stock of fast chargers reached 28 000 at the end of 2022. Deployment is expected to accelerate in the coming years following government approval of the National Electric Vehicle Infrastructure Formula Program (NEVI).

Figure 3: Fleet Charging Market Size By Region 2022 Vs 2032

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Fleet Charging Key Market Players & Competitive Insights

The global market for Fleet Charging has witnessed significant growth over the forecast period due to the growing e-commerce industry. There are several domestic, regional, and global players operating in the Fleet Charging market who continuously strive to gain a significant share of the overall market. During the study, MRFR has analyzed some of the major players in the Fleet Charging market who have contributed to the market growth includes ABB, ChargePoint, Inc., Phihong USA Corp., EV Safe Charge Inc., Tesla, Electrify America, Blink Charging Co., EVgo Services LLC, CyberSwitching, and Siemens among others.

Among these, ABB, ChargePoint, Inc., Phihong USA Corp, Tesla and  Siemens are among the top 5 players in the Fleet Charging Market. These players focus on expanding and enhancing their product portfolio and services to remain competitive and increase their customer base. Additionally, these players are focusing on partnerships & collaborations to expand their business and customer base to enhance their market position.

Key Companies in the Fleet Charging market include.

• ABB


• ChargePoint, Inc.


• Phihong USA Corp.


• EV Safe Charge Inc.


• Tesla


• Electrify America


• Blink Charging Co.


• EVgo Services LLC


• CyberSwitching


• Siemens

Fleet Charging Industry Developments

• In October 2023, BP Pulse entered into a partnership with Tesla. This partnership will see BP Pulse boost the EV charging network for Tesla ultra-fast chargers with a 100 million dollar order. Tesla chargers will be deployed in 2024 throughout the bp pulse network, including at significant bp, Amoco, and ampm sites; Thorntons-branded sites; TravelCenters of America locations; and bp pulse's expansive GigahubTM charging sites, which are located close to airports and in significant US cities.


• In October 2023, ChargePoint launched cable conversion kits for current DC fast chargers, giving Tesla owners a public fast charging option for the first time. is also bringing out NACS connection support for its AC and DC charging solutions.


• In December 2020, Phihong Technology released a Level 3 DW Series 30kW Wall Mount DC fast charger with an easy-to-install, customizable solution for commercial fleet management, highway service stations, and parking garage applications, as well as EV infrastructure operators, service providers, and EV dealer workshops globally. It offers performance and time-saving advantages, including charging speeds up to four times faster than conventional 7kW AC chargers and dual charging connections.

Fleet Charging Market Segmentation

Fleet Charging Offering Outlook

• EV Charging Station


• Services
  
  
  
  • Installation Services
  
  
  • Support & Maintenance Services
  
  
  
  

Fleet Charging Installation Type Outlook

• Fixed


• Portable

Fleet Charging Type Outlook

• AC Charging Station


• DC Charging Station

Fleet Charging Installation Charging Level Outlook

• Level 2


• Level 3

Fleet Charging Phase Outlook

• Single Phase


• Three Phase

Fleet Charging Vehicle Type Outlook

• Passenger Cars


• Commercial Vehicles
  
  
  
  • Light Vehicle
  
  
  • Medium Vehicle
  
  
  • Heavy vehicle
  
  
  
  

Fleet Charging End Users Outlook

• Service & Last Mile Companies


• Trucking Companies


• Public Transportation


• Others

Fleet Charging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  • Mexico
  
  
  
  


• Europe
  
  
  
  • UK
  
  
  • Germany
  
  
  • France
  
  
  • Italy
  
  
  • Spain
  
  
  • Norway
  
  
  • Netherlands
  
  
  • Sweden
  
  
  • Finland
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Thailand
  
  
  • Taiwan
  
  
  • Malaysia
  
  
  • Vietnam
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Middle East & Africa
  
  
  
  • Saudi Arabia
  
  
  • UAE
  
  
  • Jordan
  
  
  • Rest of the Middle East & Africa
  
  
  
  


• South America
  
  
  
  • Brazil
  
  
  • Argentina
  
  
  • Chile
  
  
  • Colombia
  
  
  • Rest of South America