The global electric vehicle (EV) charger market size is expected to reach around US$ 64.67 billion by 2030 from US$ 7.01 billion in 2021 and is expected to grow at an impressive double-digit rate of 28% from 2022 to 2030.
The study includes drivers and restraints of this market. The study provides an analysis of the global electric vehicle (EV) charger market for the period 2017-2030, wherein 2022 to 2030 is the forecast period and 2021 is considered as the base year.
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Report Scope of the Electric Vehicle Charger Market
| Report Coverage | Details |
| Market Size by 2030 | USD 64.67 Billion |
| Growth Rate from 2022 to 2030 | CAGR of 28% |
| Largest Market | Asia Pacific |
| Fastest Growing Market | Europe |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
Report Highlights
- Based on the vehicle type, the PHEV segment dominated the global EV charger market in 2020. The increasing government efforts to promote the adoption of the electric vehicles have played an important role in the growth of the EV charger market. The PHEVs has witnessed an increase in sales in the past few years. For instance, in January 2020, Volkswagen Group revealed that it is planning to boost its production of PHEVs by 60% as compared to that in the year 2018.
- On the basis of charger type, the on-board charger segment led the global EV charger market in 2020. The ease of use, convenience, and easy availability of the AC power has fueled its adoption across the globe. The AC charger’s flexibility and easy availability in the residential sector of the urban cities has led to the dominance of this segment.
- Depending on the end use, the residential segment dominated the market in 2020. The rising number of residential complexes equipped with advanced EV charging facilities in the parking spaces has resulted in the growth of the EV charger market in the past few years.
Market Dynamics
Driver
Burgeoning sales of electric vehicles across the globe
The globe has witnessed record high sales of electric vehicles in 2020. In 2020, there were around 3 million electric vehicles were sold across the globe despite the COVID-19 pandemic. The top manufacturers of EV such as Ford, BMW, Volkswagen, Tesla, and General Motors are increasing their investments in the expansion of manufacturing facilities and research & development. Therefore, the rising sales of the electric vehicles are expected to drive the demand for the EV chargers across the globe during the forecast period.
Restraint
High costs of the electric vehicles
There is a high acquisition cost associated with the electric vehicles. The electric vehicles are new to the market and the initial costs is high, which is limiting the low and middle income consumers to adopt the electric vehicles. This is also hindering the sale of the EV chargers in the residential sector.
Opportunity
Declining costs of battery
With the rapid investments in the research and development and technological advancements, the costs of the batteries is declining significantly. This is reducing the cost of travel and is promoting the adoption of electric vehicles.The price of the EV batteries reduced from US$1,100 per kWh in 2010 to US$137 per kWh in 2020. Therefore, travelling with electric vehicles is expected to become economical in the forthcoming future, which will propel the adoption of the electric vehicles and hence, the demand for the EV chargers is expected to soar.
Challenge
Lack of infrastructure
The developing and underdeveloped countries are characterized by the presence of poor infrastructure. The low financial capabilities of the government is restricting them to invest on the development of the EV charging infrastructure. Moreover, the lack of electrification in the rural areas may limit the adoption of the electric vehicles. Hence, the lack of proper infrastructure may restrict the growth of the EV charger market.
Recent Developments
The EV charger market is moderately fragment owing to the presence of several top market players. These market players are constantly involved in the various developmental strategies such as partnerships, mergers, acquisitions, collaborations, new product launches, and various others to strengthen their position and increase their market share.
Research Methodology
A unique research methodology has been utilized to conduct comprehensive research on the growth of the global electric vehicle (EV) charger market and arrive at conclusions on the future growth prospects of the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the draw conclusions. Secondary sources referred to by analysts during the production of the global market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of our study on the market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from mattress topper industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global electric vehicle (EV) charger market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped to estimates the future prospects of the global market more reliable and accurate.
Why should you invest in this report?
If you are aiming to enter the global electric vehicle (EV) charger market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for electric vehicle (EV) charger are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2022-2030, so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
Some of the prominent players in the global electric vehicle (EV) charger market include:
- ABB Ltd.
- Robert Bosch GmbH
- Siemens AG
- Delphi Automotive
- Chroma ATE
- Aerovironment Inc.
- Silicon Laboratories
- Chargemaster PLC
- Schaffner Holdings AG
- POD Point
Market Segmentation:
By Vehicle Type
- Plug-in Hybrid Vehicle (PHEV)
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
By Charging Type
- On-board Charger
- Off-board Charger
By End User
- Residential
- Commercial
Regional Analysis:
The geographical analysis of the global electric vehicle (EV) charger market has been done for North America, Europe, Asia-Pacific, and the Rest of the World.
The North American Market is again segmented into the US, Canada, and Mexico. Coming to the European Market, it can be segmented further into the UK, Germany, France, Italy, Spain, and the rest. Coming to the Asia-Pacific, the global electric vehicle (EV) charger Market is segmented into China, India, Japan, and Rest of Asia Pacific. Among others, the market is segmented into the Middle East and Africa, (GCC, North Africa, South Africa and Rest of the Middle East & Africa).
Key Questions Answered by the Report:
- What will be the size of the global electric vehicle (EV) charger market in 2030?
- What is the expected CAGR for the electric vehicle (EV) charger market between 2021 and 2030?
- Which are the top players active in this global market?
- What are the key drivers of this global market?
- How will the market situation change in the coming years?
- Which region held the highest market share in this global market?
- What are the common business tactics adopted by players?
- What is the growth outlook of the global electric vehicle (EV) charger market?
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Electric Vehicle Charger Market
5.1. COVID-19 Landscape: Electric Vehicle Charger Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Electric Vehicle Charger Market, By Vehicle
8.1. Electric Vehicle Charger Market, by Vehicle Type, 2022-2030
8.1.1. Plug-in Hybrid Vehicle (PHEV)
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Battery Electric Vehicle (BEV)
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Hybrid Electric Vehicle (HEV)
8.1.3.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Electric Vehicle Charger Market, By Charging Type
9.1. Electric Vehicle Charger Market, by Charging Type, 2022-2030
9.1.1. On-board Charger
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Off-board Charger
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Electric Vehicle Charger Market, By End User
10.1. Electric Vehicle Charger Market, by End User, 2022-2030
10.1.1. Residential
10.1.1.1. Market Revenue and Forecast (2017-2030)
10.1.2. Commercial
10.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 11. Global Electric Vehicle Charger Market, Regional Estimates and Trend Forecast
11.1. North America
11.1.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.1.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.1.3. Market Revenue and Forecast, by End User (2017-2030)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.1.4.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.1.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.1.5.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.1.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.2.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.4.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.2.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.5.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.2.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.6.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.2.6.3. Market Revenue and Forecast, by End User (2017-2030)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.2.7.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.2.7.3. Market Revenue and Forecast, by End User (2017-2030)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.3.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.4.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.3.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.5.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.3.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.6.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.3.6.3. Market Revenue and Forecast, by End User (2017-2030)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.3.7.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.3.7.3. Market Revenue and Forecast, by End User (2017-2030)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.4.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.4.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.5.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.4.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.6.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.4.6.3. Market Revenue and Forecast, by End User (2017-2030)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.4.7.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.4.7.3. Market Revenue and Forecast, by End User (2017-2030)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.5.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.5.3. Market Revenue and Forecast, by End User (2017-2030)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.5.4.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.5.4.3. Market Revenue and Forecast, by End User (2017-2030)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Vehicle (2017-2030)
11.5.5.2. Market Revenue and Forecast, by Charging Type (2017-2030)
11.5.5.3. Market Revenue and Forecast, by End User (2017-2030)
Chapter 12. Company Profiles
12.1. ABB Ltd.
12.1.1. Company Overview
12.1.2. Product Offerings
12.1.3. Financial Performance
12.1.4. Recent Initiatives
12.2. Robert Bosch GmbH
12.2.1. Company Overview
12.2.2. Product Offerings
12.2.3. Financial Performance
12.2.4. Recent Initiatives
12.3. Siemens AG
12.3.1. Company Overview
12.3.2. Product Offerings
12.3.3. Financial Performance
12.3.4. Recent Initiatives
12.4. Delphi Automotive
12.4.1. Company Overview
12.4.2. Product Offerings
12.4.3. Financial Performance
12.4.4. Recent Initiatives
12.5. Chroma ATE
12.5.1. Company Overview
12.5.2. Product Offerings
12.5.3. Financial Performance
12.5.4. Recent Initiatives
12.6. Aerovironment Inc.
12.6.1. Company Overview
12.6.2. Product Offerings
12.6.3. Financial Performance
12.6.4. Recent Initiatives
12.7. Silicon Laboratories
12.7.1. Company Overview
12.7.2. Product Offerings
12.7.3. Financial Performance
12.7.4. Recent Initiatives
12.8. Chargemaster PLC
12.8.1. Company Overview
12.8.2. Product Offerings
12.8.3. Financial Performance
12.8.4. Recent Initiatives
12.9. Schaffner Holdings AG
12.9.1. Company Overview
12.9.2. Product Offerings
12.9.3. Financial Performance
12.9.4. Recent Initiatives
12.10. POD Point
12.10.1. Company Overview
12.10.2. Product Offerings
12.10.3. Financial Performance
12.10.4. Recent Initiatives
Chapter 13. Research Methodology
13.1. Primary Research
13.2. Secondary Research
13.3. Assumptions
Chapter 14. Appendix
14.1. About Us
14.2. Glossary of Terms
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