Electric Vehicle Charging Stations Market by Application, Charging Level, Charging Point, Charging Infrastructure, Operation, DC Fast Charging, Charging Point Operator, Connection Phase, Service, Installation and Region – Global Forecast to 2030

The global electric vehicle charging station market is expected to grow from USD 7.3 billion in 2024 to USD 12.1 billion by 2030, growing at a compound annual growth rate of 8.8%. Parameters such as increasing demand for electric vehicles along with significant technological growth in the electric vehicle charging station market are expected to boost the revenue growth of the electric vehicle charging station market during the forecast period. Furthermore, falling prices of electric vehicles coupled with government policies and subsidies to build the electric vehicle charging infrastructure will create new opportunities for the electric vehicle charging station market.

“The Mode 3 charger segment is expected to be the largest market in terms of charging power during the forecast period.”

As demand for electric vehicles (EVs) soars, Mode 3 electric vehicle charging stations are becoming increasingly popular. These stations feature a Type 2 socket for AC charging and are suitable for installation in public areas, workplaces, and residential complexes, but not for private use. Mode 3 charging is widely available at public charging stations around the world and uses Level 2 AC chargers that can deliver higher power than regular household sockets. Recent advances in Mode 3 electric vehicle charging focus on improving charging speeds, safety features, and user interfaces. Many countries are investing heavily in Mode 3 charging infrastructure to meet the growing electric vehicle market. For example, the EU aims to build one million public charging points by 2025, and China plans to operate 1.2 million public charging stations by 2030. In the United States, major automakers and energy providers are working together to expand the charging network, while various states have set goals for electric vehicle adoption and charging infrastructure development.

Mode 3 charging requires a continuous connection to a power grid via a power system and is commonly used in wallboxes, commercial charging stations and other automated AC charging systems.

Download PDF brochure @ www.marketsandmarkets.com/pdfdown…d=89574213

“Level 3 chargers are expected to be the largest segment in the electric vehicle charging station market during the forecast period”

The increasing demand for accessible fast charging options will drive the market. Level 3 chargers with a power output of over 50 kW can quickly charge an electric vehicle in less than an hour. Powered by a 480 V direct current (DC) plug, these chargers deliver considerable power, covering around 270 km in just 30 minutes. While these chargers are the most expensive option, they are suitable for longer journeys, commercial vehicles such as taxis, and people with limited access to home charging options. ABB (Switzerland) has developed a fast charging station that can charge an electric vehicle in less than half an hour and has a rated power of up to 400 kW. It is currently the fastest charging solution available, enabling an average of 80 to 130 kilometers in just 30 minutes. Tesla’s Supercharger can travel up to 270 km in the same time; it uses 480V, 400 amps of power and delivers 240 kW of power. Charging stations of this scale cost on average between $30,000 and $50,000 due to significantly higher equipment costs and the need to install transformers. Leading CPOs and CPMs are working to develop products for high-power Level 3 charging. For example, in January 2023, ChargePoint (US) and Stem (US) entered into an agreement to leverage their AI-driven clean energy solutions and services to accelerate the adoption of electric vehicle charging and battery storage solutions. Similarly, in February 2022, Tritium (Australia) partnered with Wise EV (US), a subsidiary of renewable energy provider Wise Power, to supply fast chargers for a new nationwide electric vehicle charging network.

“North America is expected to see the most significant growth during the forecast period.”

North America includes developed nations such as the US and Canada and serves as a major regional hub for respected original equipment manufacturers (OEMs) known for delivering high-quality, high-performance vehicles. Well-known OEMs such as Tesla and GM are prioritizing the development of faster, cleaner and higher-performance electric vehicles and charging infrastructure to support them. Tesla’s NACS electric vehicle charging station has received official certification to the North American standard, marking a significant milestone in the electric vehicle charging space. NACS aims to improve installations, reduce costs and increase accessibility. The widespread adoption of NACS by well-known automakers sets the standard for efficient and reliable charging infrastructure and ensures that public EV networks alongside Tesla’s benefit from crucial government funding support. Leading OEMs such as BMW, Nissan, Volkswagen and Daimler have launched electric vehicles in the region. Major companies offering electric vehicle charging stations in the US include ChargePoint, Leviton, Blink Charging, SemaConnect, EVgo and Volta. Numerous well-known companies, including Tesla, General Motors, EVgo, Pilot, Hertz and BP, are actively expanding their networks by deploying thousands of public charging stations over the next two years. Canada expects a surge in demand for charging stations due to its burgeoning EVCS startup ecosystem and the increasing presence of electric vehicles.

In-depth interviews were conducted with CEOs, marketing directors, other innovation and technology directors, and executives of various key organizations operating in this market.

Key players

Some of the key players in the electric vehicle charging station market include ABB (Switzerland), BYD (China), ChargePoint (US), Tesla (US), and Siemens (Germany). These companies provide electric vehicle charging stations and solutions to both OEMs and charging station operators and have strong distribution networks across the globe.

Request a free sample report @ www.marketsandmarkets.com/request…d=89574213

News from

MarketsandMarkets™
Category: Industry reports and market analyses Profile: About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America’s best management consulting firms according to a recent report by Forbes. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, using a human-machine offering to drive above-average growth for progressive organizations in the B2B space. We have the broadest view of new technologies and are therefore able to create above-average growth for clients. Earlier this year, we …

This email address is protected from spambots. JavaScript must be enabled to view it!