Global Electric Vehicle Charging Infrastructure Market Analysis Report 2024-2030: Declining Lithium-ion Battery Costs Presents Growth Opportunities

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Feb 21, 2024, 14:30 ET

DUBLIN, Feb. 21, 2024 /PRNewswire/ -- The "Global Electric Vehicle (EV) Charging Infrastructure Market Size, Share & Trends Analysis Report by Charger Type, Connector, Level of Charging, Connectivity, Application, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.

The global EV charging infrastructure market is anticipated to reach USD 125.39 billion by 2030, expanding at a CAGR of 25.4% from 2024 to 2030. The growth of the electric vehicle charging infrastructure (EVCI) market is attributed to a growing consumer base adopting electric vehicles. This shift is fueled by eco-friendly choices, rising fuel expenses, government incentives, and reduced ownership costs throughout the vehicle's lifespan.

An increasing interest in electric vehicles is amplifying the need for sufficient charging infrastructure, driving market growth. Several electric vehicle manufacturers, including Kia Motors, Volvo, Ford, and Mercedes-Benz, are partnering with charging infrastructure providers to ensure convenient access to charging stations.

Moreover, Ecotap BV, Delta Electronics, and Enel X, among others, are focusing on the development of solar-powered electric vehicle charging stations. For instance, within the Honda SmartCharge program, Enel X is engaged in developing a charging station powered by solar energy in Hawaii, the U.S., through collaboration with the Hawaiian Electric Company, Inc.

Several companies are working to enhance electric vehicle supply equipment (EVSE) to improve convenience for long-distance travel. Manufacturers such as Tesla, Inc. and Nissan are focusing on ensuring compatibility of their electric vehicles with public charging networks. For instance, in February 2023, in a move to bolster EV adoption in the U.S., the White House collaborated with Tesla Inc. to increase the availability of EV charging infrastructure across the U.S. As part of the collaboration, Tesla Inc. has pledged to make at least 7,500 of its chargers available to all types of EVs by the end of 2024.

The significant growth is majorly owing to the rising initiatives undertaken by both private as well as public sectors to encourage the population to switch to electric vehicles. These initiatives have stimulated the purchase of EVs and have concurrently raised consumer awareness about the advantages of such vehicles. Therefore, the demand for EV charging infrastructure is anticipated to grow significantly.

For instance, in the U.S., the Washington State Department of Transportation has collaborated with the Oregon Department of Transportation to construct the West Coast Electric Highway (WCEH), which includes 57 EV charging stations across Washington and Oregon. Moreover, multiple governments are collaboratively developing intercontinental networks of highway charging stations.

The rising demand for EVs is owing to the increasing awareness of environmental sustainability and the strict emissions regulations enforced by governments. As private companies are focusing on innovating electric vehicle chargers and charging stations, governments are partnering with these firms to deploy EV charging infrastructure. In addition, technologies, such as near-field communication (NFC) and Radio Frequency Identification (RFID), have enabled the installation of interactive, self-operated, and kiosk-based charging stations within highway charging stations. Numerous private organizations are investing in the development of electric vehicle charging stations along highways. All these factors are propelling the demand for highway EV charging stations.

EV Charging Infrastructure Market Report Highlights

In terms of charger type, the fast charger segment dominated the market in 2023. The rising preference for EVs among consumers seeking more convenient and efficient vehicle charging methods is propelling the growth of this segment
In terms of connector, the CHAdeMO segment is expected to grow at a significant CAGR during the forecast period. The CHAdeMO connector's capacity to provide a DC fast charging solution, enabling swift EV battery recharge, acts as a significant contributor to segment growth
In terms of level of charging, the level 2 segment dominated the market in 2023. The growth of level 2 charging networks, especially in urban areas and along major U.S. highways, significantly drives segment expansion. With increasing electric vehicle adoption, numerous municipalities and businesses are investing in level 2 charging infrastructure to retain and attract EV drivers
In terms of connectivity, the non-connected charging stations segment led the market in 2023. The growing adoption of stand-alone chargers by small businesses, private individuals, and municipalities is a major factor contributing to segment growth
In terms of application, the commercial segment held a major revenue share in 2023. Increasing number of EV charging stations in commercial spaces and rising government funding and initiatives for installing publicly accessible EV charging stations are major factors behind segment growth
The Asia-Pacific region dominated the market in 2023. Stringent vehicle emission standards and a strong emphasis on electric vehicle research and development act as key drivers propelling regional market growth for electric vehicle (EV) charging infrastructure

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Outlook
2.3. Competitive Insights

Chapter 3. Market Variables, Trends, and Scope
3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.1.1. Growing contribution of transportation sector towards carbon emission
3.3.1.2. Advances in battery technology and growing emphasis on autonomous vehicles
3.3.1.3. Government regulations and tax exemptions further promote the adoption of EVS
3.3.2. Market Challenge Analysis
3.3.2.1. High costs of setting-up EV infrastructure
3.3.2.2. Higher space requirement & uncertainty related to electricity costs
3.3.2.3. Emergence of hydrogen fuel cell vehicles
3.3.3. Market Opportunity Analysis
3.3.3.1. Declining lithium-ion battery costs
3.4. Electric Vehicle Charging Infrastructure Market Analysis Tools
3.4.1. Porter's Five Forces Analysis
3.4.2. PESTEL Analysis

Chapter 4. Electric Vehicle Charging Infrastructure Market: Charger Type Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Electric Vehicle Charging Infrastructure Market: Charger Type Movement Analysis, USD Million, Volume Unit, 2023 & 2030
4.3. Slow Charger
4.4. Fast Charger

Chapter 5. Electric Vehicle Charging Infrastructure Market: Charging Type Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Electric Vehicle Charging Infrastructure Market: Charging Type Movement Analysis, USD Million, Volume Unit, 2023 & 2030
5.3. AC
5.4. DC

Chapter 6. Electric Vehicle Charging Infrastructure Market: Installation Type Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Electric Vehicle Charging Infrastructure Market: Installation Type Movement Analysis, USD Million, Volume Unit, 2023 & 2030
6.3. Fixed
6.4. Portable

Chapter 7. Electric Vehicle Charging Infrastructure Market: Connector Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Electric Vehicle Charging Infrastructure Market: Connector Movement Analysis, USD Million, Volume Unit, 2023 & 2030
7.3. CHAdeMO
7.4. CCS
7.5. Others

Chapter 8. Electric Vehicle Charging Infrastructure Market: Level of Charging Estimates & Trend Analysis
8.1. Segment Dashboard
8.2. Electric Vehicle Charging Infrastructure Market: Level of Charging Movement Analysis, USD Million, Volume Unit, 2023 & 2030
8.3. Level 1
8.4. Level 2
8.5. Level 3

Chapter 9. Electric Vehicle Charging Infrastructure Market: Connectivity Estimates & Trend Analysis
9.1. Segment Dashboard
9.2. Electric Vehicle Charging Infrastructure Market: Connectivity Movement Analysis, USD Million, Volume Unit, 2023 & 2030
9.3. Non-connected Charging Stations
9.4. Connected Charging Stations

Chapter 10. Electric Vehicle Charging Infrastructure Market: Operation Estimates & Trend Analysis
10.1. Segment Dashboard
10.2. Electric Vehicle Charging Infrastructure Market: Operation Movement Analysis, USD Million, Volume Unit, 2023 & 2030
10.3. Mode 1
10.4. Mode 2
10.5. Mode 3
10.6. Mode 4

Chapter 11. Electric Vehicle Charging Infrastructure Market: Deployment Estimates & Trend Analysis
11.1. Segment Dashboard
11.2. Electric Vehicle Charging Infrastructure Market: Deployment Movement Analysis, USD Million, Volume Unit, 2023 & 2030
11.3. Private
11.4. Semi-Public
11.5. Public

Chapter 12. Electric Vehicle Charging Infrastructure Market: Application Estimates & Trend Analysis
12.1. Segment Dashboard
12.2. Electric Vehicle Charging Infrastructure Market: Application Movement Analysis, USD Million, Volume Unit, 2023 & 2030
12.3. Commercial
12.3.2. Destination Charging Stations
12.3.3. Highway Charging Stations
12.3.4. Bus Charging Stations
12.3.5. Fleet Charging Stations
12.3.6. Other Charging Stations
12.4. Residential
12.4.2. Private Houses
12.4.3. Apartments/Societies

Chapter 13. Electric Vehicle Charging Infrastructure Market: Regional Estimates & Trend Analysis
13.1. Electric Vehicle Charging Infrastructure Market Share, by Region, 2023 & 2030, USD Million, Volume Unit

Chapter 14. Competitive Landscape
14.1. Recent Developments & Impact Analysis by Key Market Participants
14.2. Company Categorization
14.3. Company Market Positioning
14.4. Company Market Share Analysis
14.5. Company Heat Map Analysis
14.6. Strategy Mapping
14.7. Company Profiles

ABB Ltd.
ChargePoint, Inc.
Leviton Manufacturing Co., Inc.
Blink Charging Co.
Tesla Inc.
Webasto Group
bp pulse
Eaton Corporation plc
Schneider Electric, Inc.
Siemens
BTC Power
Delta Electronics, Inc.
Tritium DCFC

For more information about this report visit https://www.researchandmarkets.com/r/k0qd05

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