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The global EV Charging Station market is projected to grow from USD 11.9 billion in 2022 to USD 76.9 billion by 2027, registering a CAGR of 45.0% from 2022 to 2027. Factors such as rising sales of EVs worldwide and the growing demand for zero-emission transport will boost the demand for the electric vehicle charging station market. The market for EV charging stations is expected to be led by Government incentives and regulations along with OEM support for the shift to zero-emission transport and sales of their EVs.

Major manufacturers in this market are based in China, North America and Europe. ABB (Switzerland), Shell (Netherlands), ChargePoint (US), Tesla (US), and BYD (China) are among few leading players operating in EV charging station market. The increasing sensitivity of various governments towards a cleaner environment has increased the demand for zero-emission vehicles. Governments of different countries are introducing lucrative schemes and incentives to attract and encourage people to buy electric vehicles, including high discounts, free electricity (initially), and free public charging stations. Apart from this, governments are working with manufacturers to build charging and manufacturing facilities and offering exemptions in taxation.

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ABB

The company is one of the largest manufacturers worldwide and providers of EV charging stations, with over 17,000 DC fast chargers and over 1,000,000 level 1 and level 2 chargers installed in over 85 markets worldwide. It formed a strategic alliance with Tallarna Ltd, a UK-based climate technology startup, to expand its user-friendly energy management technologies offerings. In May 2022, ABB announced that its e-mobility division reached an agreement to acquire a majority stake in Numocity (India), a digital platform for electric vehicle charging in India. According to a statement from ABB, the company will increase its share in Numocity to 72% and have the option to become the sole owner by 2026.

Shell

Shell is a company primarily involved in the oil and gas industry, but it also has a presence in alternative energy segments such as wind power, solar power, and hydrogen. One of its offerings is a wide range of EV charging stations that cater to different types of users, including those for home, business/destination, and public charging. These charging stations utilize Connected loT technology to charge multiple EVs while ensuring stable charging and reducing power wastage. Additionally, Shell provides charging solutions for fleet operators and offers Green charging services. The company has set a target to operate over 500,000 charge points by 2025 and currently operates more than 80,000 charge points at homes, businesses, Shell retail sites, and destinations.

Shell is collaborating with various companies and organizations to offer integrated EV charging solutions for both home and public use. In January 2023, Shell USA acquired the electric vehicle charging company Volta for USD 169 million, expanding its presence in the US electric vehicle market. The company is committed to providing clean and reliable energy to support the growth of the EV market and contribute to a lower-carbon future.

Tesla

Tesla is a leading electric car manufacturer globally, with a strong presence in the plug-in and battery electric vehicle segments. The company is involved in designing, developing, manufacturing, and marketing high-performance electric car battery energy storage equipment, including EV charging stations and solar panels. Tesla has also built a significant charging station network, operating primarily through the Automotive and Energy Generation & Storage segments. The company has established charging stations in over 40 countries, including the US, Canada, UK, UAE, China, France, Germany, Italy, Russia, Japan, South Korea, and Australia. Tesla claims to have installed more than 40,000 superchargers in 4,470 stations worldwide and sells solar energy products directly to consumers. In January 2023, Tesla announced plans to allocate an additional USD 36 billion to expand the Gigafactory Nevada and hire 3,000 new employees. The company aims to build two new factories, including a 4680-cell factory with the capacity to produce 100 GWh batteries annually, which is sufficient for 1.5 million light-duty vehicles. It also plans to build its first high-volume factory for producing Semi, an all-electric truck with a range of 500 miles and energy consumption of less than 2 kWh per mile.

BYD

BYD (Build Your Dreams) is a leading technology company that has a strong presence in the electronics, automobiles, and new energy sectors. The company operates through three primary segments: automobiles and related products, handset equipment and assembly services, and rechargeable battery and photovoltaics. Its subsidiary, BYD Auto, is involved in the electric vehicle, battery, and electric charging businesses. The company operates its charging network in China, offering EV owners convenient and efficient charging services. In November 2022, Ampol, a leading petroleum company in Australia, partnered with BYD Automotive, the fourth-largest electric vehicle company globally, to promote the widespread adoption of EVs in Australia. The partnership aims to provide a comprehensive solution for BYD customers, including charging options at home and on the go.

ChargePoint

The company formerly known as Coulomb Technologies, ChargePoint, is recognized as the world's leading network of independently owned EV charging stations in 14 countries, boasting over 174,000 chargers as of March 2022. ChargePoint's core competency is EV charging, and it has implemented various innovative methods to complement its services, securing its place as a leader in the global EV charging network market. The company, which employs 1,436 people as of 2022, offers Level 1 EVSE for home charging and Level 2 and 3 EVSE for semi-public and public charging, providing normal and fast charging from its public charging stations. ChargePoint values safety and ensures that all hardware is UL and CE certified, while its mobile app and home charger have received high ratings. The company has dedicated in-house teams for quality, reliability, and testing and provides 24/7 support to EV drivers worldwide.

Related Reports:

EV Charging Station Market by Application, Level of Charging, Charging Point, Charging Infrastructure, Operation, Electric Bus Charging, DC Fast Charging, Connectivity, Connection Phase, Service, Installation and Region - Global Forecast to 2027

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Northbrook, IL 60062
USA : 1-888-600-6441
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