Electric Vehicle Charger Market Introduction and Overview
According to SPER Market Research, the Global Electric Vehicle Charger Market is estimated to reach USD 118.11 billion by 2033 with a CAGR of 29.51%.
The report includes an in-depth analysis of the Global Electric Vehicle Charger Market, including market size and trends, product mix, applications, and supplier analysis. A device that provides electric energy to recharge the batteries of electric vehicles is known as an electric vehicle (EV) charger. By connecting the car to an electrical power source, it transforms grid-supplied alternating current (AC) into direct current (DC) that may be used to store batteries. Smart technology in advanced chargers allows them to monitor energy consumption, optimise charging periods, and integrate with renewable energy sources. Crucial components of its operation and design include upholding safety regulations and guaranteeing interoperability with various EV models.
- January 2023; In South Carolina, ABB increased the volume of EV chargers it produced. This allows charging developers, owners, and operators to quickly deploy dependable chargers by drastically cutting lead times and delivery costs for DC fast chargers in the US.
- April 2023; In an effort to speed up the electrification of corporate fleets, ChargePoint Holdings Inc. and ALD Automotive inked a deal to launch a new EV charging business in Europe. The solution offers drivers access to over 485,000 charging ports via a unified charging card and app.
Market Opportunities and Challenges
Opportunities: Numerous important factors are driving the demand for EV chargers. One significant driver of demand for intelligent charging systems is the growing usage of electric vehicles (EVs), as more individuals and companies switch to electric mobility. Through subsidies, tax credits, and emissions reduction targets, government programmes around the world—including policies, incentives, and regulations—aim to hasten the adoption of electric vehicles (EVs) and the installation of smart charging infrastructure. Concerns about air pollution, climate change, and growing environmental consciousness are pushing people and organisations to select electric vehicles and sustainable energy sources for charging.
Challenges: A lack of infrastructure development, especially in rural and less developed areas, is one of the obstacles facing the market for electric vehicle chargers and prevents the widespread adoption of EVs. Exorbitant upfront installation and maintenance costs discourage investment, particularly in rapid chargers. Compatibility problems arise from the absence of global standards for connectors and chargers, which makes infrastructure deployment and user experience more difficult. The infrastructure of the current grid is strained by the increased demand for electricity from EV charges, requiring changes for stability. Market expansion is further hampered by consumers' lack of knowledge and comprehension of EV charging choices.
Market Competitive Landscape
In order to create cutting-edge charging technologies like ultra-fast chargers and bi-directional charging systems, several companies are consistently investing in research and development. In an effort to meet the rising need for dependable and effective EV charging infrastructure, they are also establishing strategic alliances and partnerships to broaden their geographic reach and enhance their service offerings. Major players of this market are Abb Ltd., Aerovironment Inc., Chargemaster Plc, Chroma Ate, Delphi Automotive, Pod Point, Robert Bosch Gmbh, Schaffner Holdings Ag, Silicon Laboratories, Siemens Ag and Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Vehicle Type, By End User, By Charging Type
|
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe
|
| Companies Covered | Abb Ltd., Aerovironment Inc., Chargemaster Plc, Chroma Ate, Delphi Automotive, Pod Point, Robert Bosch Gmbh, Schaffner Holdings Ag, Silicon Laboratories, Siemens Ag and Others. |
COVID-19 Impact on Global Electric Vehicle Charger Market
The market for electric vehicle (EV) chargers was affected by the COVID-19 epidemic in a number of ways. Lockdowns, supply chain hiccups, and suspended production operations caused the market to first become unstable, which delayed the installation of charging infrastructure and decreased EV sales. The immediate demand for new EV sales was also lessened by reduced travel and economic uncertainties, which in turn lessened the need for charging solutions.
Key Target Audience:
- EV Owners
- Automotive Manufacturers
- Fleet Operators
- Residential Property Owners
- Commercial Property Owners
- Public Charging Network Providers
- Municipalities and Governments
- Utility Companies
- Real Estate Developers
Our in-depth analysis of the Electric Vehicle Charger Market includes the following segments:
|
By Vehicle Type: |
Battery Electric Vehicle (BEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Hybrid Electric Vehicle (HEV)
|
|
By End User: |
Residential
Commercial
|
|
By Charging Type: |
On-board Chargers
Off-board Chargers
|
Key Topics Covered in the Report:
- Global Electric Vehicle Charger Market Size (FY’2024-FY’2033)
- Overview of Global Electric Vehicle Charger Market
- Segmentation of Global Electric Vehicle Charger Market By Vehicle Type (Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV))
- Segmentation of Global Electric Vehicle Charger Market By End User (Residential, Commercial)
- Segmentation of Global Electric Vehicle Charger Market By Charging Type (On-board Chargers, Off-board Chargers)
- Statistical Snap of Global Electric Vehicle Charger Market
- Expansion Analysis of Global Electric Vehicle Charger Market
- Problems and Obstacles in Global Electric Vehicle Charger Market
- Competitive Landscape in the Global Electric Vehicle Charger Market
- Impact of COVID-19 and Demonetization on Global Electric Vehicle Charger Market
- Details on Current Investment in Global Electric Vehicle Charger Market
- Competitive Analysis of Global Electric Vehicle Charger Market
- Prominent Players in the Global Electric Vehicle Charger Market
- SWOT Analysis of Global Electric Vehicle Charger Market
- Global Electric Vehicle Charger Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Electric Vehicle Charger Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Electric Vehicle Charger Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Electric Vehicle Charger Market
7. Global Electric Vehicle Charger Market, By Vehicle Type (USD Million) 2020-2033
7.1. Global Electric Vehicle Charger Market Size, Share and Forecast, By Vehicle Type, 2020-2026
7.2. Global Electric Vehicle Charger Market Size, Share and Forecast, By Vehicle Type, 2027-2033
7.3. Battery Electric Vehicle (BEV)
7.4. Plug-in Hybrid Electric Vehicle (PHEV)
7.5. Hybrid Electric Vehicle (HEV)
8. Global Electric Vehicle Charger Market, By End User (USD Million) 2020-2033
8.1. Global Electric Vehicle Charger Market Size, Share and Forecast, By End User, 2020-2026
8.2. Global Electric Vehicle Charger Market Size, Share and Forecast, By End User, 2027-2033
8.3. Residential
8.4. Commercial
9. Global Electric Vehicle Charger Market, By Charging Type (USD Million) 2020-2033
9.1. Global Electric Vehicle Charger Market Size, Share and Forecast, By Charging Type, 2020-2026
9.2. Global Electric Vehicle Charger Market Size, Share and Forecast, By Charging Type, 2027-2033
9.3. On-board Chargers
9.4. Off-board Chargers
10. Global Electric Vehicle Charger Market Forecast, 2020-2033 (USD Million)
10.1. Global Electric Vehicle Charger Market Size and Market Share
11. Global Electric Vehicle Charger Market, By Region, 2020-2033 (USD Million)
11.1. Global Electric Vehicle Charger Market Size and Market Share By Region (2020-2026)
11.2. Global Electric Vehicle Charger Market Size and Market Share By Region (2027-2033)
11.3. Asia-Pacific
11.3.1. Australia
11.3.2. China
11.3.3. India
11.3.4. Japan
11.3.5. South Korea
11.3.6. Rest of Asia-Pacific
11.4. Europe
11.4.1. France
11.4.2. Germany
11.4.3. Italy
11.4.4. Spain
11.4.5. United Kingdom
11.4.6. Rest of Europe
11.5. Middle East and Africa
11.5.1. Kingdom of Saudi Arabia
11.5.2. United Arab Emirates
11.5.3. Qatar
11.5.4. South Africa
11.5.5. Egypt
11.5.6. Morocco
11.5.7. Nigeria
11.5.8. Rest of Middle-East and Africa
11.6. North America
11.6.1. Canada
11.6.2. Mexico
11.6.3. United States
11.7. Latin America
11.7.1. Argentina
11.7.2. Brazil
11.7.3. Rest of Latin America
12. Company Profile
12.1. ABB LTD.
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. AEROVIRONMENT INC.
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. CHARGEMASTER PLC
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. CHROMA ATE
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. DELPHI AUTOMOTIVE
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. POD POINT
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. ROBERT BOSCH GMBH
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. SCHAFFNER HOLDINGS AG
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. SILICON LABORATORIES
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. SIEMENS AG
12.10.1. Company details
12.10.2. Financial outlook
12.10.3. Product summary
12.10.4. Recent developments
12.11. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
