Market Size of China Electric Vehicle Charging Infrastructure Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 38.85 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Electric Vehicle (EV) Charging Infrastructure Market Analysis
The China Electric Vehicle Charging Infrastructure Market is valued at USD 4.28 billion in the current year and is anticipated to reach a value of USD 22.09 billion within the next five years, registering a CAGR growth of 38.85% over the forecast period.
Growing adoption and sales of electric vehicles, as well as the enactment of laws, subsidies, and policies promoting the adoption of EVs, such as exemption from registration plate lotteries and access to restricted traffic areas, are some of the major factors driving the market's growth. Further, the government's increasing focus on developing an optimal electric vehicle charging infrastructure across the country to support the rising demand for EVs is aiding the growth of the electric vehicle charging infrastructure market in China. For instance,
- In September 2023, the China Electric Vehicle Charging Infrastructure Promotion Alliance, abbreviated as EVCIPA, announced that approximately 61,000 public charging piles were added in the country in August 2023. It is an increase of 39.9% compared to the same period in 2022. Further, it was indicated that from September 2022 to August 2023, around 54,000 new piles were built on average each month in China, showcasing the rapid boost in developing the charging infrastructure in the country.
The collaboration between various OEMs, automotive manufacturers, and charging infrastructure developers is driving the market's growth. The EV charging infrastructure market in China drew investments from various capital holders, such as vehicle manufacturers, telecom operators, real estate companies, etc.
The increasing installation of private and public charging stations in China is propelling the growth of the market. It is estimated that as of the end of 2022, the total number of charging infrastructure in China reached 5.21 million units, reflecting a significant year-on-year increase of nearly 100%. It includes approximately 650,000 units of public charging infrastructure, resulting in a cumulative total of 1.8 million units, as well as around 1.9 million units of private charging infrastructure, reaching a cumulative total of over 3.4 million units. The government is also taking initiatives to improve the charging infrastructure in the country. For instance,
- In September 2022, four Chinese ministries, including the Ministry of Transport (MOT), issued a plan to speed up the construction of highway charging infrastructure. The following two-phased objectives were established to meet the growing demand for electric vehicle (EV) charging and provide mobility convenience.
Thus, due to such factors, the market studied is expected to grow considerably during the forecast period.
China Electric Vehicle (EV) Charging Infrastructure Industry Segmentation
An electric vehicle charging station, also known as an EV charging station, ECS (electronic charging station), and EVSE (electric vehicle supply equipment), supplies electric energy for the recharging/charging of plug-in electric vehicles and battery electric vehicles, including passenger cars and commercial vehicles.
The China electric vehicle charging infrastructure market is segmented by charging station type, vehicle type, and user application. By charging station type, the market is segmented into alternating current (AC) charging stations and direct current (DC) charging stations. By vehicle type, the market is segmented into passenger vehicles and commercial vehicles. By user application, the market is segmented into private infrastructure and public infrastructure.
The report offers market size and forecasts for Electric Vehicle Charging Infrastructure in value (USD) for all the above segments.
| By Charging Station Type | |
| Alternating Current (AC) Charging Station | |
| Direct Current (DC) Charging Station |
| By Vehicle Type | |
| Passenger Vehicles | |
| Commercial Vehicles |
| By User Application | |
| Private Infrastructure | |
| Public Infrastructure |
China Electric Vehicle Charging Infrastructure Market Size Summary
The China electric vehicle (EV) charging infrastructure market is experiencing significant growth, driven by the increasing adoption of electric vehicles and supportive government policies. The market is expanding rapidly as the government implements laws, subsidies, and policies to encourage EV adoption, such as exemptions from registration plate lotteries and access to restricted traffic areas. The government's focus on developing a robust charging infrastructure to meet the rising demand for EVs is a key factor propelling market growth. Collaborations between original equipment manufacturers (OEMs), automotive manufacturers, and charging infrastructure developers, along with investments from various sectors, are further boosting the market. The installation of both private and public charging stations is on the rise, supported by government initiatives to enhance infrastructure, including plans to accelerate highway charging station construction.
China's commitment to becoming a leader in the EV market is evident in its ambitious targets and substantial investments in charging infrastructure. The country aims to have a significant portion of vehicles sold be electric by 2030, necessitating a vast expansion of charging facilities. The availability of public charging stations is crucial for encouraging EV purchases, and the government is rapidly increasing the number of these stations, particularly in densely populated areas. Despite the phasing out of subsidies, EV sales continue to soar, underscoring the effectiveness of China's pro-EV policies. The market is characterized by intense competition, with major players like TELD New Energy, Star Charge, and State Grid Corporation of China dominating. Strategic partnerships and acquisitions, such as PetroChina's acquisition of Potevio New Energy Co Ltd, highlight the ongoing efforts to strengthen market presence and expand charging networks across the country.
China Electric Vehicle Charging Infrastructure Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.1.1 Favorable Government Initiatives to Support the Growth of Electric Vehicle Charging Infrastructure
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1.2 Market Restraints
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1.2.1 Supply Shortages in Building Electric Vehicle Charging Stations
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1.3 Industry Attractiveness - Porter's Five Forces Analysis
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1.3.1 Bargaining Power of Suppliers
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Threat of New Entrants
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size in Value - USD)
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2.1 By Charging Station Type
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2.1.1 Alternating Current (AC) Charging Station
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2.1.2 Direct Current (DC) Charging Station
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2.2 By Vehicle Type
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2.2.1 Passenger Vehicles
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2.2.2 Commercial Vehicles
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2.3 By User Application
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2.3.1 Private Infrastructure
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2.3.2 Public Infrastructure
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China Electric Vehicle Charging Infrastructure Market Size FAQs
What is the current China Electric Vehicle Charging Infrastructure Market size?
The China Electric Vehicle Charging Infrastructure Market is projected to register a CAGR of 38.85% during the forecast period (2024-2029)
Who are the key players in China Electric Vehicle Charging Infrastructure Market?
TELD, Starcharge, YKC, State Grid Corporation of China and TGood are the major companies operating in the China Electric Vehicle Charging Infrastructure Market.
