Peer-To-Peer Electric Vehicle Charging Market to Reach $644.98 Million by 2030

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Sep 12, 2022, 10:00 ET

DUBLIN, Sept. 12, 2022 /PRNewswire/ -- The "Peer-To-Peer Electric Vehicle Charging Market Size, Share & Trends Analysis Report by Charger Type (Level 1, Level 2), by Application (Residential, Commercial), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.

The global peer-to-peer electric vehicle charging market size is expected to reach USD 644,982.3 thousand by 2030, registering a CAGR of 22.2% from 2022 to 2030. The rising demand for electric vehicles worldwide has encouraged an increase in the number of peer-to-peer electric vehicle charging stations installed across the globe to address the range anxiety issues associated with electric vehicles.

Moreover, rising awareness among users to use green transportation modes is also expected to propel the adoption of electric vehicles, which is likely to contribute to the market growth over the forecast period.

Several governments across the globe have mandated space allocation for EV charging infrastructure in the parking spaces of residential complexes, which is expected to create new growth opportunities for the market.

For instance, in June 2019, the Government of India, under the new guidelines of the housing and urban development ministry, mandated that the residential and commercial complexes across India would allocate 20% of their parking space for electric vehicle charging facilities. Such factors are expected to create growth opportunities for the market over the forecast period.

Many companies are partnering with electric car manufacturers to provide a seamless charging experience to customers. For instance, in March 2021, ChargePoint announced its partnership with Polestar cars, a Swedish company that manufactures electric vehicles. Under this partnership, Polestar drivers would have access to over 100,000 ChargePoint charging points and additional charging spots made possible through roaming agreements with other major charging networks in North America.

Peer-To-Peer Electric Vehicle Charging Market Report Highlights

The level 1 charger segment is anticipated to register significant growth owing to the increasing number of multi-unit dwellings installing level 1 charging stations.
The commercial segment is projected to register the highest CAGR over the forecast period owing to the increasing focus of companies such as The Coca-Cola Company and General Motors on making EV charging stations at their facilities open to the public.
The increasing adoption of smart city initiatives to boost the adoption of electric vehicles in emerging economies, such as China and India, is expected to create growth opportunities for the market in the Asia Pacific region over the forecast period.

Market Dynamics

Market Drivers

Increasing Contribution of Transportation Sector Toward Carbon Emissions
Advances in Battery Technology and Growing Emphasis on Autonomous Vehicles
Rise in the Number of Residential Charging Stations and Growing Need to Reduce Range Anxiety Among Electric Vehicle Drivers

Market Challenges

Rise in the Number of Public Charging Stations

Market Opportunities

Government Regulations and Tax Exemptions

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Peer-To-Peer Electric Vehicle Charging Industry Outlook

Chapter 4 Peer-To-Peer Electric Vehicle Charging Charger Type Outlook

Chapter 5 Peer-To-Peer Electric Vehicle Charging Application Outlook

Chapter 6 Peer-To-Peer Electric Vehicle Charging Regional Outlook

Chapter 7 Competitive Analysis

Chapter 8 Competitive Landscape

Companies Mentioned