Global EV Charging Infrastructure Market Size To Surpass USD 286.91 Billion by 2032 | CAGR of 28.3%

Category: Automotive & Transportation

RELEASE DATE Apr 2023
REPORT ID SI1738

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Global EV Charging Infrastructure Market to Exceed $286.91 billion by 2032

According to a research report published by Spherical Insights & Consulting, The Global EV Charging Infrastructure Market size is to grow from USD 23.74 billion in 2022 to USD 286.91 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 28.3% during the forecast period.

 

EV Charging Infrastructure Market

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Browse key industry insights spread across 210 pages with 122 market data tables and figures & charts from the report on "Global EV Charging Infrastructure Market Size, Share, and COVID-19 Impact Analysis, By Charger Type (Slow Charger and Fast Charger), By Connector (CHAdeMO, Combined Charging System, and Others), By Application (Commercial and Residential), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032 Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/ev-charging-infrastructure-market

 

Electric Vehicle (EV) charging infrastructure is a critical component of the growing electric mobility ecosystem. It refers to the network of charging stations and related equipment that enable EV owners to charge their vehicles. EV charging infrastructure can include various types of chargers, such as Level 1, Level 2, and Level 3 (DC fast chargers), as well as associated hardware and software for monitoring, payment, and management. It plays a crucial role in supporting the adoption of EVs by providing convenient and reliable charging options, addressing range anxiety, and promoting sustainable transportation. Governments, utilities, and private companies are investing in expanding and improving EV charging infrastructure to meet the increasing demand for electric mobility.

 

Fast charger is expected to grow at a higher CAGR of around 31.2% over the forecast period

The global EV charging infrastructure market is categorized based on charger type. The fast charger is the fastest growing segment in the global EV charging infrastructure market due to increasing demand for quicker charging, particularly for long-distance travel and commercial fleet operations. Fast chargers, also known as Level 3 chargers, offer high power output and significantly shorter charging times compared to slow chargers, making them essential for the growing number of electric vehicles on the road. Moreover, advancements in fast-charging technology, support from automakers, and government initiatives to promote fast-charging infrastructure have further fueled the growth of the fast-charger segment, making it the fastest-growing market in the EV charging infrastructure industry.

 

The commercial segment dominated the market with around 52.7% revenue share in 2022

Based on application, the global EV charging infrastructure market is segmented into commercial and residential. The commercial category accounted for the largest share, approximately xx%, in the EV charging infrastructure market in 2022. This can be attributed to the increasing adoption of electric vehicles in commercial fleet operations, such as delivery vans, taxis, and buses. Commercial operators are recognizing the benefits of EVs, including lower operating costs, reduced emissions, and improved sustainability, which are driving the demand for dedicated charging infrastructure to support their electric fleets. As a result, the commercial category has emerged as a dominant player in the market, with a growing share of EV charging installations being deployed for commercial use.

 

The Asia-Pacific segment is expected to grow at a CAGR of around 29.6% over the forecast period

 

EV Charging Infrastructure Market

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Based on region, the Asia-Pacific region is recognized as the fastest-growing market in the world, characterized by robust economic growth and dynamic consumer demand. With countries such as China, India, and Southeast Asian nations experiencing rapid industrialization and urbanization, there is a burgeoning middle class with increasing purchasing power. This has led to a surge in demand for various products and services, creating a favorable environment for businesses to expand and flourish. Additionally, supportive government policies, investment in infrastructure, and advancements in technology have further fueled the growth of the Asia-Pacific market, making it a significant driver of global economic growth and a preferred destination for business opportunities.

 

Major players in the global EV charging infrastructure market include AeroVironment, Inc., ABB, BP Chargemaster, ChargePoint, Inc., ClipperCreek, Inc., Eaton Corp., General Electric Company, Leviton Manufacturing Co., Inc., SemaConnect, Inc., Schneider Electric, Siemens AG, Tesla, Inc., and Webasto SE, among others.

 

EV Charging Infrastructure Market, By Charger Type

  • Slow Charger
  • Fast Charger

EV Charging Infrastructure Market, By Connector Type

  • CHAdeMO
  • Combined Charging System
  • Others

EV Charging Infrastructure Market, By Application

  • Commercial
  • Residential

 

EV Charging Infrastructure Market, 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 Middle East & Africa

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

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