Market Size of Global Electric Vehicle Charging Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 31.20 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Global Electric Vehicle Charging Equipment Market Analysis
The Global Electric Vehicle Charging Equipment Market size in terms of installed base is expected to grow from 3.18 Million units in 2024 to 12.34 Million units by 2029, at a CAGR of 31.20% during the forecast period (2024-2029).
- Over the medium term, growth in electric vehicle sales and companies investing in commissioning new charging stations are expected to drive the market in the forecast period.
- On the other hand, the negative impact on the environment is expected to hamper the market’s growth in the forecast period.
- The development of charging technology for faster and more efficient charging is expected to create a significant opportunity in the market during the forecast period.
- Europe is expected to witness significant growth in the market over the forecast period.
Global Electric Vehicle Charging Equipment Industry Segmentation
Electric vehicle (EV) charging equipment refers to the infrastructure and devices required to charge electric vehicles, which include battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). These charging systems enable EVs to replenish their electrical energy, allowing them to continue driving. The charging equipment can be categorized into different levels based on the power output and charging time.
The global electric vehicle charging equipment market is segmented by application, charging type, and geography. By application, the market is segmented into home charging, workplace charging, and public charging. By charging type, the market is segmented into AC charging (Level 1 and Level 2) and DC charging. The report also covers the market size and forecasts across several major regions. For each segment, the market sizing and forecasts were made based on volume.
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| Home charging | |
| Workplace charging | |
| Public charging |
| Charging Type | |
| AC Charging (Level 1 and Level 2) | |
| DC Charging |
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Global Electric Vehicle Charging Equipment Market Size Summary
The global electric vehicle charging equipment market is poised for substantial growth, driven by the increasing adoption of electric vehicles and the corresponding need for robust charging infrastructure. As electric vehicle sales continue to rise, the demand for EV charging equipment is expected to surge, with significant investments from companies in establishing new charging stations. This growth is further supported by government initiatives aimed at reducing greenhouse gas emissions, which include incentives for electric vehicle adoption and the development of charging infrastructure. However, environmental concerns may pose challenges to market expansion. Technological advancements in charging solutions, particularly those focused on faster and more efficient charging, present significant opportunities for market players.
Europe is anticipated to experience notable growth in the electric vehicle charging equipment market during the forecast period. The region's proactive approach in permitting the installation of EV charging sites in various locations, including public and residential areas, is expected to drive demand. Companies are actively expanding their charging hubs to meet the increasing need for EV charging infrastructure, addressing consumer concerns about range anxiety and accessibility. Strategic initiatives, such as Fastned's expansion of fast-charging sites in Germany and Mercedes-Benz's establishment of proprietary charging hubs, underscore the region's commitment to enhancing EV infrastructure. The market's semi-fragmented nature is characterized by key players like ABB Ltd, Robert Bosch GmbH, and ChargePoint Inc., who are instrumental in shaping the industry's growth trajectory.
Global Electric Vehicle Charging Equipment Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 Growth in Electric Vehicle Sales
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1.5.1.2 Companies Investing in Commissioning New Charging Stations
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1.5.2 Restraints
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1.5.2.1 The Negative Impact on the Environment
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1.6 Supply Chain Analysis
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1.7 Industry Attractiveness - Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Application
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2.1.1 Home charging
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2.1.2 Workplace charging
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2.1.3 Public charging
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2.2 Charging Type
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2.2.1 AC Charging (Level 1 and Level 2)
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2.2.2 DC Charging
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 France
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2.3.2.3 United Kingdom
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 NORDIC
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2.3.2.7 Turkey
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2.3.2.8 Russia
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2.3.2.9 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 India
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2.3.3.3 Australia
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2.3.3.4 Japan
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2.3.3.5 Malaysia
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2.3.3.6 Thailand
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2.3.3.7 Indonesia
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2.3.3.8 Vietnam
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2.3.3.9 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 Saudi Arabia
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2.3.4.2 United Arab Emirates
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2.3.4.3 Qatar
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2.3.4.4 Egypt
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2.3.4.5 Nigeria
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2.3.4.6 South Africa
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2.3.4.7 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Columbia
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2.3.5.4 Rest of South America
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Global Electric Vehicle Charging Equipment Market Size FAQs
How big is the Global Electric Vehicle Charging Equipment Market?
The Global Electric Vehicle Charging Equipment Market size is expected to reach 3.18 million units in 2024 and grow at a CAGR of 31.20% to reach 12.34 million units by 2029.
What is the current Global Electric Vehicle Charging Equipment Market size?
In 2024, the Global Electric Vehicle Charging Equipment Market size is expected to reach 3.18 million units.
