Electric Vehicle Charging Station Market

Market Leader - Electric Vehicle Charging Station Market

The global electric vehicle charging station market size is projected to reach 30,785 thousand units by 2027, from an estimated 2,115 thousand units in 2020, at a CAGR of 46.6%. The base year for the report is 2019, and the forecast period is from 2020 to 2027. The rising cost of fossil fuels and government initiatives in increasing usage of EV’s will lead to a growth of the electric vehicle charging stations segment.

The recent developments in the EVCS market have introduced Ultra fast charging and inductive charging technologies. These advancements in charging technologies are expected to decrease the charging time of electric vehicles and allow cable free charging at paring lots and on the go. The high charging time and range are some of the most important reasons that users are still a bit hesitant to prefer electric vehicles. However, government bodies are working with manufacturers to provide the necessary charging infrastructure network. Because of all these benefits, electric vehicle charging stations is considered to be a fast growing industry in the next few decades.

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The electric vehicle charging station market is dominated by players such as ChargePoint (US), Shell (The Netherlands), Tesla (US), BYD (China), Blink Charging (US). These companies developed new products, adopted expansion strategies, and undertook collaborations, partnerships, and mergers & acquisitions to gain traction in this high-growth electric vehicle charging station market.

ChargePoint is one of the top players in this market. It was formerly known as Coulomb Technologies. The company operates the largest network of independently owned EV charging stations in 14 countries. It reached 100,000 chargers by September 2019, and adds an average of 2,000 chargers per month. This company has made EV charging its core competency with various new innovative methods to complement it and thus became the world’s leading EV charging network. In may 2018, it launched a 2 MW connector for electric trucks and aviation. In September 2019, ChargePoint launched its Home Flex, which can charge at upto 50 amps.

Shell is another renowned player in this market. Shell is a Dutch MNC, was formed in 1907 as Royal Dutch Shell and is headquartered in The Hague, Netherlands. Its main business is in the oil & gas segment, and is also present in alternative energy segments such as wind power, solar power, hydrogen, etc. The company is one of the oil & gas superpowers of the world. It also offers a wide range of EV charging stations ranging from home charging, business/destination charging, and public charging through its NewMotion range of products and Greenlot range of services. In October 2018, Shell introduced  next generation V2G technology, the V2X (Vehicle to everything). In August 2019, Shell introduced charging points in 3 variants, Business Pro View, Business Lite View and Home Advanced View. In October 2019, Shell introduced its Business Hub for companies switching or scaling e-mobility.

Tesla, BYD, Blink Charging, EVgo, Shneider Electric, BP, ABB, Siemens, Webasto, Efacec, SemaConnect, ClipperCreek, Opconnect, Volta, Allego, Ionity, Wallbox, Charge+, TGOOD and Delta  are some of the other players in this market. In September 2019, Shneider electric launched its EcoStructure range of EV chargers for meeting the needs of the rapidly changing EV charging market. In January 2020, Tesla launched its V3 wall connector which can charge upto 48 amps. In January 2020, Siemens launched next generation EV chargers, the VersiCharge series of chargers. In July 2020, ABB launched Terra 184 for fast charging public electric solutions and started construction of a USD 30 million facility for developing its global requirement of DC fast chargers. In August 2020, Sema Connect launched a new solution for electric fleets, the Series 7 smart EV charging station. In August 2020, BYD launched a new service for mobile charging of EV’s such that the charging vehicle would come to the customer for EV charging whenever required for a appropriate fee. In November 2020, Blink charging launched Cable management solutions for all its new and existing EV chargers.

Related Reports:

Electric Vehicle Charging Station Market by Level of Charging (Level 1, Level 2 & Level 3, By Charging Infrastructure (Normal Charge, Type-2, CCS, CHAdeMO and Tesla Supercharger), DC fast Charging (Fast & Ultra-fast) - Global Forecast to 2027

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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[email protected]

Report Code
AT 7099
RI Published ON
3/1/2021
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