The global electric vehicle charger market was surpassed at USD 8.97 billion in 2022 and is expected to hit around USD 106.11 billion by 2032, growing at a CAGR of 28.02% from 2023 to 2032.
Key Pointers
Report Coverage | Details |
Market Size in 2022 | USD 8.97 billion |
Revenue Forecast by 2032 | USD 106.11 billion |
Growth rate from 2023 to 2032 | CAGR of 28.02% |
Base Year | 2022 |
Forecast Period | 2023 to 2032 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Companies Covered | ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG, POD Point |
Chargers for electric cars (EVs), which have batteries and an electrical source to assist in charging the batteries, are used to provide charging for EVs. These vehicles can be charged at one of three charging levels, namely level 1, level 2, and level 3. Electric vehicles are less expensive than traditional petrol/diesel cars in terms of the purchase price as well as maintenance costs. The harmful gas-containing carbon footprints that are discharged into the atmosphere are decreased by electric automobiles.
To reduce carbon emissions, electric vehicles have become increasingly popular. Businesses are advancing their EV charging networks’ charging technologies quickly. Commercial venues have a much higher market penetration of EV charging equipment than residential areas do. According to predictions, there will be more commercial charging stations as EV adoption rises.
The rising costs of petroleum products and crude oil are one of the most significant factors influencing the EV Charger Market. Consumers in emerging market economies are already feeling the effects of the rising price of gasoline. Electric-powered vehicles are projected to have lower running costs than conventional vehicles. It is anticipated that manufacturers would create EVs with far superior batteries and longer usage times. A rise in demand for EVs and EV charging stations may also result from the falling price of EVs and the falling price of batteries.
The EV Charger Market is projected to grow as a result of rising government support for environmentally friendly and energy-efficient vehicles. The rising price of gasoline is already having an impact on consumers in developing nations. Electricity will be used to power electrical cars, which is projected to lower their operating costs. The government’s ongoing support, the rise in EV usage, the low initial cost of current EV charging technologies, and intensive R&D to speed up charging are all necessary for the EV Charger Market to expand.
The high initial cost of Level 3 fast chargers and ultra-fast chargers, however, is the main obstacle to the expansion of the EV Charger Market. People prefer to use fossil fuel-powered automobiles for 5-7 minutes, whereas level 1 and level 2 chargers might take anywhere from 6 to 16 hours to fully charge. As a result, there is a need in the market for rapid chargers that can charge EVs in under 30 minutes. A Level 3 charger can be fairly expensive at first, though. This serves as a deterrent to many who may otherwise switch to electric vehicles (EVs), as lengthy charging times may interfere with most people’s already hectic schedules.
Electric Vehicle Charger Market Segmentations:
By Vehicle Type | By Charging Type | By End User |
Plug-in Hybrid Vehicle (PHEV) Battery Electric Vehicle (BEV) Hybrid Electric Vehicle (HEV) |
On-board Charger Off-board Charger |
Residential Commercial |
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 Type
8.1. Electric Vehicle Charger Market, by Vehicle Type, 2023-2032
8.1.1 Plug-in Hybrid Vehicle (PHEV)
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Battery Electric Vehicle (BEV)
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Hybrid Electric Vehicle (HEV)
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Electric Vehicle Charger Market, By Charging Type
9.1. Electric Vehicle Charger Market, by Charging Type, 2023-2032
9.1.1. On-board Charger
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Off-board Charger
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Electric Vehicle Charger Market, By End User
10.1. Electric Vehicle Charger Market, by End User, 2023-2032
10.1.1. Residential
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Commercial
10.1.2.1. Market Revenue and Forecast (2020-2032)
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 Type (2020-2032)
11.1.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.1.3. Market Revenue and Forecast, by End User (2020-2032)
11.1.4. U.S.
11.1.4.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.1.4.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.1.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.1.5. Rest of North America
11.1.5.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.1.5.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.1.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.2. Europe
11.2.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.2.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.2.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.4. UK
11.2.4.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.2.4.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.2.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.5. Germany
11.2.5.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.2.5.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.2.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.6. France
11.2.6.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.2.6.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.2.6.3. Market Revenue and Forecast, by End User (2020-2032)
11.2.7. Rest of Europe
11.2.7.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.2.7.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.2.7.3. Market Revenue and Forecast, by End User (2020-2032)
11.3. APAC
11.3.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.3.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.3.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.4. India
11.3.4.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.3.4.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.3.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.5. China
11.3.5.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.3.5.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.3.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.6. Japan
11.3.6.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.3.6.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.3.6.3. Market Revenue and Forecast, by End User (2020-2032)
11.3.7. Rest of APAC
11.3.7.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.3.7.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.3.7.3. Market Revenue and Forecast, by End User (2020-2032)
11.4. MEA
11.4.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.4.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.4. GCC
11.4.4.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.4.4.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.4.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.5. North Africa
11.4.5.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.4.5.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.4.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.6. South Africa
11.4.6.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.4.6.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.4.6.3. Market Revenue and Forecast, by End User (2020-2032)
11.4.7. Rest of MEA
11.4.7.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.4.7.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.4.7.3. Market Revenue and Forecast, by End User (2020-2032)
11.5. Latin America
11.5.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.5.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.5.3. Market Revenue and Forecast, by End User (2020-2032)
11.5.4. Brazil
11.5.4.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.5.4.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.5.4.3. Market Revenue and Forecast, by End User (2020-2032)
11.5.5. Rest of LATAM
11.5.5.1. Market Revenue and Forecast, by Vehicle Type (2020-2032)
11.5.5.2. Market Revenue and Forecast, by Charging Type (2020-2032)
11.5.5.3. Market Revenue and Forecast, by End User (2020-2032)
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