Heavy-Duty Electric Vehicle Charging Infrastructure Market Size was valued at USD 5.3 Billion in 2023. The Heavy-Duty Electric Vehicle Charging Infrastructure market industry is projected to grow from USD 7.15 Billion in 2024 to USD 58.1 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 29.92% during the forecast period (2024 - 2032). The rise in the popularity of electric vehicles, the strategic moves of major companies, and the efforts of governments in various economies, are the key market drivers enhancing the market growth.
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Due to growing environmental awareness regarding the effects of gasoline-powered cars, the demand for electric vehicles has surged globally. Additionally, government initiatives promote the usage of electric vehicles. For instance, the Indian Ministry of Road Transport and Highways published a list of non-fiscal incentives in September 2017 to ensure that sales of electric vehicles will account for 15% of total vehicle sales in the country over the ensuing five years. As a result, it is expected that adoption and construction of heavy-duty charging infrastructure would expand during the projected period in tandem with the rise in demand for electric vehicles. The sale of electric vehicles and the development of charging infrastructure are still in their infancy in the majority of countries. Governments are focusing on constructing charging stations to promote the use of electric vehicles more. The system for transporting electricity from the electric grid and distributing it to electric cars is the infrastructure for charging heavy-duty electric vehicles, like e-buses and trucks. The act of charging an electric car also entails obtaining AC electricity from the AC electric grid, converting it to DC electricity, and putting it into the DC batteries of the vehicle. The charger is used as a power electronic to regulate battery charging and convert AC to DC.
The release of new models is also increasing steadily for the market for electric vehicles (EVs). EVs are anticipated to represent a sizable portion of the entire transportation sector in the approaching years. Thanks to manufacturers like Tesla, heavy-duty electric cars and commercial vehicles have becoming commonplace. To enable long-distance driving, electric vehicles need faster charging rates and higher charge loads compared to light-duty EVs. Therefore, at heavy-duty EV charging stations, unpredictable load profiles with high peak power requirements (>1 MW for a single port) and abnormally quick transition rates may be observed. Understanding the effects of adding heavy-duty EV charging stations to the infrastructure is crucial. Thus, driving the Heavy-Duty Electric Vehicle Charging Infrastructure market revenue.
The Heavy-Duty Electric Vehicle Charging Infrastructure market segmentation, based on Charging Type, includes DC Charger and AC Charger. DC charger segment accounted for the largest revenue share in 2022. The phrase "DC charger" refers to the DC fast charging method, which delivers electricity directly into an EV's battery system and enables faster charging at the charging stations. This type of charger comes with an integrated converter that converts AC into DC power before it enters the car and supplies the current required to charge an electric vehicle's battery.
The Heavy-Duty Electric Vehicle Charging Infrastructure market segmentation, based on Charging Method, includes Fast Charging and Slow Charging. Fast charging segment dominated the Heavy-Duty Electric Vehicle Charging Infrastructure market in 2022. Fast charging is a speedy way to recharge heavy-duty vehicles like buses, trucks, and other types of vehicles. Drivers of heavy-duty vehicles can recharge the battery in a lot less time using the rapid charging technique compared to the slow charging method's lengthy charging timeframes.
Figure 1 Heavy-Duty Electric Vehicle Charging Infrastructure Market, by Charging Method, 2024 & 2032 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Heavy-Duty Electric Vehicle Charging Infrastructure Market dominated this market in 2022 (45.80%). North America now holds a substantial market share in the global market for heavy-duty EV charging infrastructure due to the growing demand for heavy-duty electric vehicles. The region's charging infrastructure is largely used by a number of heavy-duty electric vehicle producers, including Tesla Inc., Volkswagen AG, BMW AG, and Volvo Group. Further, the U.S. Heavy-Duty Electric Vehicle Charging Infrastructure market held the largest market share, and the Canada Heavy-Duty Electric Vehicle Charging Infrastructure market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2 Heavy-Duty Electric Vehicle Charging Infrastructure Market Share By Region 2024 (Usd Billion)
Source Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Heavy-Duty Electric Vehicle Charging Infrastructure market accounted for the healthy market share in 2022. One of the most significant markets for heavy-duty electric cars worldwide is Europe. The growing demand for and increase in sales of electric buses and vehicles has a significant impact on the region's OEMs and aftermarket companies' need for charging stations. Further, the German Heavy-Duty Electric Vehicle Charging Infrastructure market held the largest market share, and the U.K Heavy-Duty Electric Vehicle Charging Infrastructure market was the fastest growing market in the European region.
The Asia Pacific Heavy-Duty Electric Vehicle Charging Infrastructure market is expected to register significant growth from 2024 to 2032. The need for heavy-duty EV charging infrastructure is expected to rise significantly in the Asia-Pacific region as a result of rising demand for electric buses and regional government initiatives to promote the development of heavy-duty electric vehicles, including those of China, Japan, and India. Moreover, China’s Heavy-Duty Electric Vehicle Charging Infrastructure market held the largest market share, and the Indian Heavy-Duty Electric Vehicle Charging Infrastructure market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Heavy-Duty Electric Vehicle Charging Infrastructure market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Heavy-Duty Electric Vehicle Charging Infrastructure industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Heavy-Duty Electric Vehicle Charging Infrastructure industry to benefit clients and increase the market sector. In recent years, the Heavy-Duty Electric Vehicle Charging Infrastructure industry has offered some of the most significant advantages to medicine. Major players in the Heavy-Duty Electric Vehicle Charging Infrastructure market, including ABB, Siemens, Bombardier Inc., Kempower OY, Tesla, Proterra, Chargepoint, Inc., Schunk Group, EFACEC, Shijiazhuang Tonhe Electronics Technologies Co., Ltd., and Kehua Hengsheng Co., Ltd., are attempting to increase market demand by investing in research and development operations.
BP Plc (BP) is an integrated oil and gas company. Transportation, marketing, and trading of natural gas, including liquefied natural gas (LNG) and natural gas liquids (NGLs), are all considered midstream operations. Oil and gas exploration, development, and production, as well as field development and production, are all upstream operations. The company's downstream operations include of selling crude oil, petroleum, and petrochemical products, as well as refining, manufacturing, supplying, trading, and providing related services to wholesale and retail clients. In March 2022, BP joined forces with BMW Group and Daimler Mobility as a partner in digital charging systems to further electrification. BP will join Digital Charging Solutions (DCS), one of Europe's leading suppliers of digital charging solutions for automakers and fleet owners, along with BMW Group and Daimler Mobility.
Electricity and automation technology and solutions are offered by ABB Ltd (ABB). The business provides goods, systems, services, and solutions for electrification, motion, and industrial automation. Its offers harness power reliability, boost industrial productivity, and improve energy efficiency, and its solutions incorporate engineering know-how and software. ABB offers its goods directly to consumers as well as through third-party channel partners as distributors, installers, wholesalers, machine manufacturers, original equipment manufacturers, and system integrators. ABB unveiled Terra 360, the quickest charger for electric vehicles, in June 2022. Using this charging infrastructure, an electric car can be fully charged in 15 minutes and it can simultaneously power up to four vehicles. This company is estimated to be worth $3 billion. By 2022, it was anticipated that Europe would have this infrastructure.
WattEV, a developer of electric mobility, announced on May 2023 that it has completed construction of its 26-truck charging plaza at the Port of Long Beach, which is the largest public truck charging station in the country. The initial 14 Nikola electric trucks will be located at the WattEV facility meant for use by Nikola on its zero-emission fleet transportation platform
In March 2023, San Diego Gas & Electric (SDG&E), together with local and state authorities, declared that they have put into place four public direct current (DC) fast chargers at a bustling truck stop just north of Otay Mesa Port of Entry. It is the first one in California targeting medium and heavy-duty trucks.
For example, Greenlane aims to build a state-of-the-art pollution-free public charging and hydrogen fueling network for heavy-duty battery-electric and hydrogen fuel cell vehicles across America through a collaboration between NextEra Energy Resources’ BlackRock Alternatives business unit and Daimler Truck North America under their joint venture known as Greenlane on April 2023.
Prologis launched two electric truck charging stations under its Prologis Mobility initiative in December 2022.” These two charging stations will allow Performance Team nationwide logistics company to charge up to thirty-eight Volvo VNR Electric Class 8 battery-electric trucks at a time.
Schaltbau Holding AG, a renowned provider of charging infrastructure solutions for commercial electric vehicles, has finished acquiring SBRS GmbH, which is 100% owned by Shell Deutschland GmbH, itself a 100% subsidiary of Shell, in November 2022.
In October 2022, Mobilize and Renault dealerships announced the launch of Mobilize Fast Charge, an ultrafast charging network.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 5.3 Billion |
| Market Size 2024 | USD 7.15 Billion |
| Market Size 2032 | USD 58.1 Billion |
| Compound Annual Growth Rate (CAGR) | 29.92% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019- 2023 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Charging Type, Charging Method, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | ABB, Siemens, Bombardier Inc., Kempower OY, Tesla, Proterra, Chargepoint, Inc., Schunk Group, EFACEC, Shijiazhuang Tonhe Electronics Technologies Co., Ltd., and Kehua Hengsheng Co., Ltd. |
| Key Market Opportunities | Launch of ultrafast EV charging infrastructure |
| Key Market Dynamics | Growing demand for electric vehicles, strategic initiatives by major players, and government initiatives in several economies |
Heavy Duty EV Charging Infrastructure Market Highlights:
Frequently Asked Questions (FAQ) :
The Heavy-Duty Electric Vehicle Charging Infrastructure market size was valued at USD 3.9 Billion in 2022.
The global market is projected to grow at a CAGR of 29.92% during the forecast period, 2024-2032.
North America had the largest share in the global market
The key players in the market are ABB, Siemens, Bombardier Inc., Kempower OY, Tesla, Proterra, Chargepoint, Inc., Schunk Group, EFACEC, Shijiazhuang Tonhe Electronics Technologies Co., Ltd., and Kehua Hengsheng Co., Ltd.
The DC Charger Charging Type dominated the market in 2022.
The Fast Charging, Charging Method had the largest share in the global market.
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