• Cat-intel
  • MedIntelliX
  • Resources
  • About Us
  • Request Free Sample ×

    Kindly complete the form below to receive a free sample of this Report

    Leading companies partner with us for data-driven Insights

    clients tt-cursor
    Hero Background

    Fleet Charging Market

    ID: MRFR/AM/17288-CR
    128 Pages
    Sejal Akre
    January 2024

    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...

    Share:
    Download PDF ×

    We do not share your information with anyone. However, we may send you emails based on your report interest from time to time. You may contact us at any time to opt-out.

    Fleet Charging Market Infographic
    Purchase Options

    Fleet Charging Market Summary

    As per Market Research Future Analysis, the Fleet Charging Market was valued at 5028.11 USD Million in 2024 and is projected to grow to 49548.24 USD Million by 2035, with a CAGR of 23.12% from 2025 to 2035. The market is driven by government incentives for EV adoption, rising fuel prices, and environmental concerns. Public charging stations, primarily Level 2 chargers, enhance the practicality of electric vehicles for everyday use. The Asia-Pacific region dominated the market in 2022, accounting for approximately 76.4% of the total market share, with China leading in electric vehicle sales. Major players include ABB, ChargePoint, Inc., and Tesla, focusing on expanding their services and partnerships to enhance market presence.

    Key Market Trends & Highlights

    The Fleet Charging Market is witnessing significant growth driven by various trends.

    • Fleet Charging Market Size in 2024: 5028.11 USD Million.
    • Projected Market Size by 2035: 49548.24 USD Million.
    • Public EV charging ports increased by 6.3% in Q4 2022, totaling 136,513.
    • Level 2 chargers contributed around 63.8% to the market revenue in 2022.

    Market Size & Forecast

    2024 Market Size USD 5028.11 Million
    2035 Market Size USD 49548.24 Million
    CAGR (2025-2035) 23.12%

    Major Players

    ABB, ChargePoint, Inc., Phihong USA Corp., Tesla, Electrify America, Blink Charging Co., EVgo Services LLC, CyberSwitching, Siemens.

    Fleet Charging Market Trends

    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.

    The transition towards electrification in the transportation sector is fostering a robust demand for fleet charging infrastructure, which is anticipated to reshape urban mobility and reduce greenhouse gas emissions.

    U.S. Department of Energy

    Fleet Charging Market Drivers

    Market Growth Projections

    The Global Fleet Charging Market Industry is poised for substantial growth, with projections indicating a market size of 5.03 USD Billion in 2024 and a remarkable increase to 49.5 USD Billion by 2035. This growth trajectory suggests a compound annual growth rate (CAGR) of 23.12% from 2025 to 2035. Such figures highlight the increasing investment in electric vehicle infrastructure and the rising demand for efficient charging solutions. The market's expansion is likely to be driven by a combination of technological advancements, government policies, and the growing emphasis on sustainability among corporate fleets.

    Government Incentives and Policies

    Government initiatives play a crucial role in shaping the Global Fleet Charging Market Industry. Many countries are offering financial incentives, tax breaks, and subsidies to encourage the adoption of EVs and the development of charging infrastructure. These policies not only stimulate demand for electric fleets but also foster investment in charging technologies. For instance, various regions are establishing ambitious targets for EV adoption, which directly influences fleet operators to transition to electric solutions. As a result, the market is likely to experience robust growth, with a projected CAGR of 23.12% from 2025 to 2035, indicating a strong policy-driven momentum.

    Rising Demand for Electric Vehicles

    The increasing adoption of electric vehicles (EVs) is a primary driver for the Global Fleet Charging Market Industry. As governments worldwide implement stricter emissions regulations, the shift towards EVs accelerates. In 2024, the market is projected to reach 5.03 USD Billion, reflecting the growing need for efficient charging solutions. Fleet operators are increasingly investing in EVs to reduce operational costs and meet sustainability goals. This trend is expected to continue, with projections indicating that by 2035, the market could expand to 49.5 USD Billion, driven by the rising number of EVs in commercial fleets.

    Corporate Sustainability Initiatives

    Corporate sustainability initiatives are increasingly influencing the Global Fleet Charging Market Industry. Many companies are adopting green practices to enhance their corporate image and meet stakeholder expectations. Transitioning to electric fleets is a key component of these sustainability strategies, as it helps reduce carbon footprints and operational costs. As organizations commit to sustainability goals, the demand for fleet charging solutions is expected to rise. This trend is further supported by the growing consumer preference for environmentally responsible companies, which may drive fleet operators to invest in electric vehicles and the necessary charging infrastructure.

    Expansion of Charging Infrastructure

    The expansion of charging infrastructure is a vital driver for the Global Fleet Charging Market Industry. As the number of electric vehicles increases, the need for accessible and reliable charging stations becomes paramount. Governments and private entities are investing in the development of charging networks to support the growing demand. This expansion not only facilitates the adoption of electric fleets but also alleviates range anxiety among fleet operators. The availability of charging stations in strategic locations enhances operational efficiency and encourages more businesses to transition to electric vehicles, thereby propelling market growth.

    Technological Advancements in Charging Solutions

    Technological innovations are significantly impacting the Global Fleet Charging Market Industry. The development of fast-charging technologies and smart charging solutions enhances the efficiency and convenience of charging electric fleets. Innovations such as wireless charging and vehicle-to-grid technology are emerging, allowing for more flexible and efficient energy management. These advancements not only reduce downtime for fleet vehicles but also optimize energy consumption. As the market evolves, the integration of advanced technologies is likely to attract more fleet operators, thereby contributing to the overall growth of the industry in the coming years.

    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.

    Source: Secondary Research, Primary Research, Market Research Future 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.

    Get more detailed insights about Fleet Charging Market

    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

    Fleet Charging Market Size By Region 2022 Vs 2032

    Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

    Key Players and 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 market include

    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.

    Future Outlook

    Fleet Charging Market Future Outlook

    The Fleet Charging Market is projected to grow at a 23.12% CAGR from 2025 to 2035, driven by advancements in EV technology, increasing fleet electrification, and supportive government policies.

    New opportunities lie in:

    • Develop integrated charging solutions for commercial fleets to enhance operational efficiency. Invest in smart grid technologies to optimize energy distribution for fleet charging. Create partnerships with renewable energy providers to offer sustainable charging options.

    By 2035, the Fleet Charging Market is expected to be a robust sector, reflecting substantial growth and innovation.

    Market Segmentation

    Fleet Charging Type Outlook

    • AC Charging Station
    • DC Charging Station

    Fleet Charging Phase Outlook

    • Single Phase
    • Three Phase

    Fleet Charging Offering Outlook

    • {"Services"=>["Installation Services"
    • "Support & Maintenance Services"]}

    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"]}

    Fleet Charging End Users Outlook

    • Service & Last Mile Companies
    • Trucking Companies
    • Public Transportation
    • Others

    Fleet Charging Vehicle Type Outlook

    • {"Commercial Vehicles"=>["Light Vehicle"
    • "Medium Vehicle"
    • "Heavy vehicle"]}

    Fleet Charging Installation Type Outlook

    • Fixed
    • Portable

    Fleet Charging Installation Charging Level Outlook

    • Level 2
    • Level 3

    Report Scope

    Report Attribute/MetricDetails
    Market Size 20245,028.11 (USD Million)
    Market Size 20256,190.62 (USD Million)
    Market Size 203549548.24 (USD Million)
    Compound Annual Growth Rate (CAGR)23.12% (2025 - 2035)
    Report CoverageRevenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Base Year2024
    Market Forecast Period2025 - 2035
    Historical Data2019 - 2023
    Report CoverageRevenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments CoveredOffering, Installation Type, Type, Charging Level, Phase, Vehicle Type, End-User and Region
    Geographies CoveredEurope, North America, Asia-Pacific, Middle East & Africa, and South America
    Countries CoveredUS, Canada, Mexico, UK, Germany, France, Italy, Spain, Norway, Netherlands, Sweden, Finland, China, Japan, India, South Korea, Thailand, Taiwan, Malaysia, Vietnam, Saudi Arabia, UAE, Jordan, Brazil, Argentina, Chile, Colombia
    Key Companies Profiled·       ABB ·       ChargePoint, Inc. ·       Phihong USA Corp. ·       EV Safe Charge Inc. ·       Tesla ·       Electrify America ·       Blink Charging Co. ·       EVgo Services LLC ·       CyberSwitching ·       Siemens
    Key Market Opportunities·       Growing adoption for smart and efficient transportation
    Key Market Dynamics·       Rising fuel prices and environmental concerns propelling the demand for commercial EV and charging infrastructure demand ·       Increasing demand for commercial electric vehicles propelling the demand for charging infrastructure ·       Government support and incentives towards the EV transition

    Market Highlights

    Author
    Sejal Akre
    Senior Research Analyst

    She has over 5 years of rich experience, in market research and consulting providing valuable market insights to client. Hands on expertise in management consulting, and extensive knowledge in domain including ICT, Automotive & Transportation and Aerospace & Defense. She is skilled in Go-to market strategy, industry analysis, market sizing, in depth company profiling, competitive intelligence & benchmarking and value chain amongst others.

    Leave a Comment

    FAQs

    How much is the Fleet Charging market?

    The Fleet Charging Market size is expected to be valued at USD 5,028.11 Million in 2024.

    What is the growth rate of the Fleet Charging market?

    The global market is projected to grow at a CAGR of 23.12% during the forecast period, 2025-2034.

    Which region held the largest market share in the Fleet Charging market?

    Asia Pacific had the largest share of the global market.

    Who are the key players in the Fleet Charging market?

    The key players in the market are ABB, ChargePoint, Inc., Phihong USA Corp., EV Safe Charge Inc., Tesla, Electrify America, Blink Charging Co., EVgo Services LLC, CyberSwitching, and Siemens

    Which Component led the Smart Buildings market?

    The Fixed category dominated the market in 2022.

    Download Free Sample

    Kindly complete the form below to receive a free sample of this Report

    Case Study
    Chemicals and Materials