Global Electric Vehicle Charging Station Market Size To Exceed USD 484.18 Billion by 2035| CAGR of 25.17%
Category: Automotive & TransportationAccording to a research report published by Spherical Insights & Consulting, The Global Electric Vehicle Charging Station Market Size is Expected To Grow from USD 40.98 Billion in 2024 to USD 484.18 Billion by 2035, at a CAGR of 25.17% during the Forecast Period 2025-2035.
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Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Electric Vehicle Charging Station Market Size, Share, and COVID-19 Impact Analysis, By Level of Charging (Level 1, Level 2, and Level 3), By Connector Type (AC Charging, DC Charging, and Wireless Charging), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/electric-vehicle-charging-station-market
An electric vehicle charging station, also known as an EV charging station, is a building or installation that has electric vehicle supply equipment that allows an EV to be charged by connecting it to a power source either inductively or conductively. An electric car can be charged by connecting it to an electric source using an electric vehicle charging station, also known as an EV charging point. Electric vehicle supply equipment and the infrastructure required for power delivery make up the station. Level 1, Level 2, and Level 3 are the three capacities of the charging stations. They are utilized in public spaces, business districts, offices, apartment buildings, and private homes. They can be wall mounted or pedestal mounted devices. EVs can be charged anywhere, including at home, at work, or in public areas, in contrast to traditional cars, which can only be refueled at petrol stations. There are many different kinds and configurations of charging equipment that transfer electricity from the energy grid to an EV. Additionally, longer range EVs are more cost competitive with internal combustion engine vehicles because the battery pack cost decreases, which has also prompted automakers to create a greater range of EVs across more vehicle categories to better satisfy consumer demand. However, the electric vehicle charging station’s high installation and operational costs are likely going to restrict market expansion.
The level 3 segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.
Based on the level of charging, the electric vehicle charging station market is divided into level 1, level 2, and level 3. Among these, the level 3 segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. The segment's development is stimulated because it provides extremely fast charging speeds, making long distance travel feasible, satisfies the need of commercial fleets that require little downtime, and meets the demands of customers who do not have access to home charging, all of which are supported by infrastructure investment and government incentives.
The AC charging segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.
Based on the connector type, the electric vehicle charging station market is divided into AC charging, DC charging, and wireless charging. Among these, the AC charging segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The segment's increase is prompted by installation, simpler to incorporate into the current power infrastructure, and ideal for household, business, and daily metropolitan charging requirements. EVs are a popular option because of their wide range of compatibility and lower initial expenses.
Asia Pacific is expected to hold the majority share of the global electric vehicle charging station market during the forecast period.
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Asia Pacific is expected to hold the majority share of the global electric vehicle charging station market during the forecast period. The electric vehicle charging station market is encouraged by the transition to electric mobility, which is supported by robust government policies and incentives, high EV adoption, particularly in China, India, and South Korea, significant infrastructure investment, fast urbanization, increased environmental consciousness, and rising disposable incomes.
Europe is anticipated to grow at the fastest pace in the global electric vehicle charging station market during the forecast period. The electric vehicle charging station market in the Europe is bolstered by large public and private investments in charging infrastructure, strict emissions targets driving EV sales, strong regulatory support, e.g., AFIR mandates for fast chargers every 60 km on highways, growing consumer demand, and improved grid readiness.
Major vendors in the global electric vehicle charging station market are ABB Ltd., ChargePoint, Inc., EVgo Services LLC., Allego, Scheinder Electric, Blink Charging Co., Wi Tricity Corporation, Toshiba Corporation, AeroViroment, Inc., Mojo Mobility, Inc., General Electric, Robert Bosch GmbH, Chargemaster plc., Evatran Group, HellaKGaAHueck& Co., and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In May 2023, Canada and the U.S. announced the first EV charging corridor between Quebec and Michigan, one of the busiest passenger and trade corridors between the two countries. This corridor would include electric vehicle charging infrastructure every 80 km, with at least one DC fast charger with CCS ports. In Canada, the corridor would include 215 stations, all within 6km of a highway, including 61 stations between Detroit and Toronto and another 154 stations between Toronto and Quebec City.
- In May 2023, Blink Charging Co. launched a new integrated battery storage and DCFC charger unit that will integrate with four Blink EV chargers at the Southport Plaza in Philadelphia, PA. The latest state of the art Battery Energy Storage System efficiently stores energy onsite and provides power to EV drivers when needed.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the electric vehicle charging station market based on the below-mentioned segments:
Global Electric Vehicle Charging Station Market, By Product Type
- Level 1
- Level 2
- Level 3
Global Electric Vehicle Charging Station Market, By Connector Type
- AC Charging
- DC Charging
- Wireless Charging
Global Electric Vehicle Charging Station Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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