Electric Vehicle Charging as a Service Market Analysis

Charging Point Type Segment Analysis        

Alternate current (normal charging) segment is set to dominate over 60% electric vehicle charging as a service market share by 2035. The rising expansion of charging stations globally providing alternate current will help this segment to have a massive revenue share by the end of 2035.

As mentioned in IEA’s Global EV Outlook 2024, there are 15,900 of private non-home chargers in the US, and more than 2,500,000 chargers in the EU are categorized as having limited access.

Application Segment Analysis        

By the end of 2035, private segment is estimated to hold over 55% electric vehicle charging as a service market share. The expanding use of private charging stations will highly drive the market expansion of this segment.

Conforming with the Global EV Outlook 2024 by the International Energy Association (IEA), in several nations, including the US (83%), Canada (80%), and others, a significant portion of EVs are charged at home.  In actuality, several nations have well-established infrastructure for home charging.

Charging Service Segment Analysis        

In electric vehicle charging as a service market, battery-changing service segment is expected to account for more than 66% revenue share by the end of 2035. The growth of this segment will be noticed because more consumers demand battery swapping for their electric vehicles.

Moreover, as per IEA’s report released in 2024, battery-switching solutions are gaining traction in the expanding markets as well, particularly in India. The Indian State of Maharashtra and the Chinese battery-swapping business Gogoro announced a USD 2.5 billion cooperation in 2023. Gogoro is situated in Taipei.

Our in-depth analysis of the global electric vehicle charging as a service market includes the following segments: