Electric Vehicle Charging Station Industry | Forecast 2030
Electric Vehicle Charging Station Industry Data Book – Electric Vehicle Charging Infrastructure and Micro Mobility Charging Infrastructure Market
Grand View Research’s electric vehicle charging station sector database is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Electric Vehicle Charging Station Industry Data Book Coverage Snapshot
- Electric Vehicle Charging Station Industry USD 24.26 billion in 2022, 25.5% CAGR (2023-2030)
- Electric Vehicle Charging Infrastructure Market Size USD 19.67 billion in 2022, 25.5% CAGR (2023-2030)
- Micro Mobility Charging Infrastructure Market Size USD 4.58 billion in 2022, 25.8% CAGR (2023-2030)
Access the Global Electric Vehicle Charging Station Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Electric Vehicle Charging Infrastructure Market Growth & Trends
The global electric vehicle charging infrastructure market size is expected to reach USD 121.09 billion by 2030, expanding at a CAGR of 25.5% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The growth of the EVCI market can be attributed to the growing number of consumers adopting electric vehicles, which is driven by the need to make environmentally conscious decisions, increasing fuel costs, favorable government subsidies, and lower cost of ownership over the vehicle’s lifecycle.
The growing demand for electric vehicles is further driving the demand for sufficient charging infrastructure, thereby driving the market’s growth. Various electric vehicle manufacturers such as Volvo, Kia Motors, Mercedes-Benz, and Ford, among others, are collaborating with the charging infrastructure providers for easy availability of charging stations. For instance, In November 2020, ChargePoint, Inc. announced its partnership with Volvo Car USA LLC to provide a seamless charging experience to Volvo car drivers.
ChargePoint, Inc. will offer Home Flex home chargers to Volvo Car drivers owing to this partnership which will enable drivers to charge their cars at home. Moreover, Delta Electronics, Inc.; Enel X; and Ecotap BV; among others; are focusing on the development of solar-powered electric vehicle charging stations. For instance, under the Honda SmartCharge program, Enel X is currently working on the development of a solar-powered charging station in Hawaii (U.S.) in partnership with the Hawaiian Electric Company, Inc.
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Micro-mobility Charging Infrastructure Market Growth & Trends
The global micro-mobility charging infrastructure market size is expected to reach USD 27.70 billion by 2030, growing at a CAGR of 25.2% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing awareness about green transportation modes is expected to drive the adoption of micro-mobility vehicles across the globe. An increasing number of people are preferring e-scooters for traveling over shorter distances as these vehicles take less parking space and can recharge within a shorter time.
Additionally, several charging stations for e-scooters provide a dedicated parking space, which helps reduce traffic congestion. Furthermore, these charging stations can be efficiently designed as per the available space and are adaptable to any e-scooter design. These factors are expected to create growth opportunities for the market over the forecast period.
The growing preference for wireless charging stations to charge micro-mobility vehicles at a faster rate with more convenience is expected to drive the demand for wireless charging stations. Several companies are also launching intelligent dock systems called wireless charging systems that work both indoors and outdoors. For instance, in May 2020, Magment GmbH, a charging station provider, launched its intelligent wireless charging systems to provide flexible wireless charging to e-scooters. These wireless charging stations can be easily installed near streetlamps, parks, and electronic advertisement boxes.
Go through the table of content of Electric Vehicle Charging Station Industry Data Book to get a better understanding of the Coverage & Scope of the study
The key market players have developed novel concepts and ideas and upgraded the current set of products to sustain the intense competition in the market. The players have adopted new product development as their key developmental strategy to cater to the increasing demand from end-users. The electric vehicle charging infrastructure market and micro mobility charging infrastructure market can be described as moderately fragmented markets characterized by the presence of various prominent players driving competition by pursuing various strategies aimed at long-term sustenance. These strategies include geographical expansion, product innovation, a strong focus on R&D activities, strategic partnership agreements, and joint ventures. For instance, in August 2020, Robert Bosch GmbH announced the expansion of its eBike PowerStation business in Europe. Bosch eBike systems have cooperated with Swabian Alps Tourism Association (SAT) and have installed six PowerStations across the SAT so that e-mountain and e-trekking eBike riders do not face issues with charging their eBikes. Moreover, the company has also decided to install these PowerStations in the urban areas of Europe to expand its product offerings. Such initiatives are driving innovation and competition, thereby propelling the market’s growth.
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