Global EV CHarger Market Size By Type (Plug-in Charging Station (Level-1, Level-2, Level-3), Wireless Charging Station), By Component (Hardware, Software), By Bus Charging Infrastructure (Off-Board Top-Down Pantograph, On-Board Bottom-Up Pantograph), By Geographic Scope And Forecast

EV Charger Market Size And Forecast

EV Charger Market size was valued at USD 7.05 Billion in 2022 and is projected to reach USD 61.23 Billion by 2030, growing at a CAGR of 18.21% from 2023 to 2030.

There is an increasing need for environmentally friendly transportation, and governments are promoting electric vehicles and their charging infrastructure through favorable policies, subsidies, and tax breaks (FAME, India). Additionally, a number of countries have made plans to gradually phase out the sale of automobiles powered by fossil fuels. The Global EV Charger Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global EV Charger Market Definition

Chargers for electric cars (EVs), which have batteries and an electrical source to assist in charging the batteries, are used to provide charging for EVs. These vehicles can be charged at one of three charging levels, namely level 1, level 2, and level 3. Electric vehicles are less expensive than traditional petrol/diesel cars in terms of the purchase price as well as maintenance costs. The harmful gas-containing carbon footprints that are discharged into the atmosphere are decreased by electric automobiles.

To reduce carbon emissions, electric vehicles have become increasingly popular. Businesses are advancing their EV charging networks’ charging technologies quickly. Commercial venues have a much higher market penetration of EV charging equipment than residential areas do. According to predictions, there will be more commercial charging stations as EV adoption rises.

Global EV Charger Market Overview

The rising costs of petroleum products and crude oil are one of the most significant factors influencing the EV Charger Market. Consumers in emerging market economies are already feeling the effects of the rising price of gasoline. Electric-powered vehicles are projected to have lower running costs than conventional vehicles. It is anticipated that manufacturers would create EVs with far superior batteries and longer usage times. A rise in demand for EVs and EV charging stations may also result from the falling price of EVs and the falling price of batteries.

The EV Charger Market is projected to grow as a result of rising government support for environmentally friendly and energy-efficient vehicles. The rising price of gasoline is already having an impact on consumers in developing nations. Electricity will be used to power electrical cars, which is projected to lower their operating costs. The government’s ongoing support, the rise in EV usage, the low initial cost of current EV charging technologies, and intensive R&D to speed up charging are all necessary for the EV Charger Market to expand.

The biggest problem with getting more EV chargers out there is the expense, especially for those super-fast Level 3 chargers. Think about itfolks are used to filling up their gas cars in like, 5-7 minutes. With regular Level 1 and Level 2 chargers, you're looking at potentially 6 to 16 hours to get a full charge! That's why we need rapid chargers that can juice up your EV in under 30 minutes. But here's the kickera Level 3 charger can be pretty expensive upfront. And that price tag? It stops a lot of people from switching to electric cars, because let's face it, nobody wants to wait forever to charge up when they're already juggling a million things.

Global EV Charger Market Segmentation Analysis

The Global EV Charger Market is segmented on the basis of Type, Component, Bus Charging Infrastructure, And Geography.

EV Charger Market, By Type

• Plug-in Charging Station (Level-1, Level-2, Level-3)
• Wireless Charging Station

Based on Type, The market is bifurcated into Plug-in Charging Station (Level-1, Level-2, Level-3) and Wireless Charging Station. Due to the quick development of technology and the increasing demand for level 3 charging stations internationally, the level 3 charging station sector is anticipated to hold the greatest proportion of the overall EV Charger Market. Level 3 charging stations provide faster charging and accommodate long-range battery electric vehicles. For instance, level 3 charging stations are the most popular charging stations on highways since they can charge some electric vehicles up to 80% in 20 to 30 minutes.

EV Charger Market, By Component

• Hardware
• Software

Based on Component, The market is bifurcated into Hardware and Software. Due to the increased need for charging station hardware replacement, upgrade, and modification to improve lifespan and performance as well as to gain comparative and competitive advantage, the Hardware sector is anticipated to hold the highest share of the global EV Charger Market. However, during the projection period, the Software category is anticipated to develop at the quickest CAGR.

EV Charger Market, By Bus Charging Infrastructure

• Off-Board Top-Down Pantograph
• On-Board Bottom-Up Pantograph

Based on Bus Charging Infrastructure, The market is bifurcated into Off-Board Top-Down Pantograph and On-Board Bottom-Up Pantograph. The Off-Board Top-Down Pantograph segment is anticipated to experience the highest growth share of the entire EV Charger Market in 2020. This is primarily attributable to its quick, dependable, and flexible operation as it only requires one charging terminal, which greatly increases the flexibility of bus service because the off-board charging infrastructure can be used by multiple buses per hour, even of different manufacturers. During the predicted period, this segment is expected to contribute significantly.

EV Charger Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest of the world

Looking at where in the world EV chargers are popular, we can divide the market into North America, Europe, Asia Pacific, and, well, the rest of the world. Back in 2020, Asia Pacific was already predicted to be the big leader in EV chargers, with Europe and North America trailing behind, followed by Latin America, the Middle East, and Africa. And get thisAsia Pacific is expected to keep growing really fast, mostly because they're electrifying their car industry and building out all sorts of charging infrastructure. Plus, countries like China and Japan are going crazy for electric vehicles!

Additionally, nations like South Korea and India are stepping up their use of electric vehicles in an effort to minimize greenhouse gas emissions. For instance, to promote the use of electric vehicles and the related charging infrastructure, the Indian government started the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme on April 1, 2019.

Key Players

The “Global Laparoscopy Devices Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are  ABB Ltd., Robert Bosch GmbH, Siemens AG, Delphi Automotive, Chroma ATE, Aerovironment Inc., Silicon Laboratories, Chargemaster PLC, Schaffner Holdings AG, and POD. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

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We'll dive into the market with both qualitative (think "why") and quantitative (think "how much") analysis, breaking it down by segments that consider everything from money matters to other important stuff. You'll get market value data in good old USD Billion for each segment and sub-segment. We'll pinpoint which region and segment are set to explode with the fastest growth and which ones are the current top dogs. Expect a geographic breakdown analyzing product/service consumption and the factors influencing the market in each area. We'll map out the competitive landscape, showing the market ranking of major players, plus all the exciting news—new service/product launches, partnerships, expansions, and acquisitions—from the last five years. We've also got extensive company profiles featuring overviews, insights, benchmarking, and SWOT analysis for those key players. See the current and future market outlook, considering recent developments, growth opportunities, drivers, and the challenges in both up-and-coming and established regions. We'll dig deep using Porter’s five forces analysis to analyze the market from multiple angles. Plus, you'll get insight through the Value Chain and a look at market dynamics, including future growth opportunities. And to top it off, you get 6 months of post-sales support from our analysts!

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