Electric Vehicle Charging Global Market to Reach $81.1 Billion by 2027 at a CAGR of 27.4%

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Nov 14, 2022, 14:15 ET

DUBLIN, Nov. 14, 2022 /PRNewswire/ -- The "Electric Vehicle Charging: Infrastructure and Global Markets" report has been added to ResearchAndMarkets.com's offering.

Electric vehicle charging infrastructure plays a significant role in boosting the demand for electric vehicles. The trends for plug-in electric vehicles are on a significant growth trajectory, including battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Both BEVs and PHEVs can be charged externally, and they have long driving ranges; this has helped to reduce the range anxiety in the minds of potential customers who hesitated to go with electric vehicles at some point. Robust charging infrastructure will add more confidence to buyers, as there will be no scarcity of charging points to serve the demands of users within the growing fleet of plug-in electric vehicles. Governments plan to invest in

developing the charging infrastructure to support the targets they have set for inducting clean vehicles into the total vehicular fleet.

From a regulatory standpoint, automakers are compelled to produce a certain percentage of green vehicles to balance the carbon footprint from sales of conventional vehicles. This percentage varies among countries, depending on the governing committee adopting green alternatives. Reduced prices for key components within hybrid vehicles also diminish the price gap between conventional and hybrid vehicles.

The price gap becomes more significant with the increasing battery driving range, but advancements in battery technology and the continuous decline in battery prices will reduce this price gap and make the option of hybrid and electric vehicles more attractive for typical buyers. The Asia-Pacific region, Europe and North America are the largest electric vehicle charging infrastructure markets. Asia-Pacific and Europe are the fastest-growing electric vehicle regions, and these regions will drive the electric vehicle charging infrastructure market during the forecast period.

This report covers the top electric vehicle charging infrastructure manufacturers, including the original equipment manufacturers (OEMs) with in-house manufacturing capabilities. Asia-Pacific-based suppliers are expanding due to increased demand for their low-cost products, regionally and internationally. Most of these companies have formed joint ventures with more established global suppliers, such as ChargePoint Inc., Blink Charging Co. and Electrify America LLC.

Market Dynamics

Key Market Drivers

Increase in the Global Demand for Electric Vehicles
Tax Incentives and Regulatory Assistance for Plug-In Hybrid Electric Vehicles
Government Funding and Incentives Expected to Assist Electric Vehicle Charging Infrastructure
Lowering the Cost of EV Batteries on the Global Market to Increase EV and EVc Demand.

Market Restraints

High Capital Cost for Electric Vehicles Compared to the Conventional Ice Vehicles
Inadequate Electric Vehicle Charging Infrastructure

Key Challenges

Stringent Guidelines for Installation of EV Charging Stations
Limited Battery Capacity in Electric Vehicles
Lithium Less Readily Available for Use in Electric Vehicle Batteries

Market Opportunities

Strict Emission Regulations Creating a Market for Electric Vehicle Sales
Government Efforts Relating to Electric Vehicles
Government Support for Public Transportation Electrification

Future Trends

Autonomous Charging
Three-Dimensional EV Printing
V2G EV Charging Stations
Wireless and Inductive Charging

Report Includes

38 total tables
An up-to-date overview of the global market scenario for electric vehicle (EV) charging infrastructure
Analyses of the global and regional market trends, with historic market revenue for 2021, estimates for 2022, and projections of compound annual growth rates (CAGRs) through 2027
Highlights of the current and upcoming market potential for the EV charging infrastructure, industry growth drivers, and areas of focus to forecast this market into various segments and sub-segments
Estimation of the actual market size and market forecast for electric vehicle charging infrastructure, and corresponding market share analysis based on EV type, charger type, installation/system, connector type, and geographic region
Updated information on key market drivers and opportunities, industry shifts and regulations, and other demographic factors that will influence this market demand in the coming years (2022-2027)
Insight into the major technology challenges, issues and risks, government regulations, recent developments, and COVID-19 impact on the global EV charging market
Patent review and new developments, R&D efforts, industrial changes with emphasis on recent investments, and current state of the market for electric vehicle charging infrastructure
Identification of the major stakeholders and analysis of the competitive landscape based on recent developments and segmental revenues

Key Topics Covered:

Chapter 1 Introduction

Chapter 2 Summary and Highlights

Chapter 3 Market Overview

Chapter 4 Market Dynamics

Chapter 5 Market Breakdown by Charging Type

Chapter 6 Market Breakdown by Installation Type

Chapter 7 Market Breakdown by Charging Infrastructure Type

Chapter 8 Market Breakdown by Charging Service

Chapter 9 Market Breakdown by Region

Chapter 10 Patent Analysis

Chapter 11 Competitive Landscape

Chapter 12 Company Profiles