Global EV Charging Infrastructure Market
EV Charging Infrastructure Market size is estimated at USD 42 billion in 2024 and is anticipated to cross USD 165.1 billion by the end of 2037, expanding at more than 32.9% CAGR during the forecast period, i.e., 2025-2037. In 2025, the industry size of EV charging infrastructure is assessed at USD 54.1 billion.
The EV charging infrastructure market is growing due to the increasing adoption of electric vehicles and supportive government policies. For instance, in January 2024, the U.S. government allocated USD 623 million in infrastructure investment toward EV charging infrastructure. This indicates a growing support to enhance the accessibility of EV charging. Additionally, regulatory frameworks and standards are being established to ensure the safety, reliability, and interoperability of the charging infrastructures. The collective efforts by governments and industry stakeholders are driving the prospects of the EV charging infrastructure market.
Businesses are investing aggressively to promote the expansion of their charging networks and product innovation to take advantage of the growth in the market. For instance, in June 2024, ChargePoint and LG Electronics partnered with integrated hardware and software-based solutions to execute EV recharge. Other firms are forming strategic partnerships to share expertise and resources toward expanding the network. The R&D investments are also testing cutting-edge technologies and charging features that answer EV owners' diverse requirements.
Growth Drivers:
Challenges:
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
32.9% |
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Base Year Market Size (2024) |
USD 42 billion |
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Forecast Year Market Size (2037) |
USD 165.1 billion |
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Regional Scope |
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Charging Point Type (AC Charging Point, DC Charging Point)
The AC charging point segment is poised to hold the largest share of 89.7% in the electric vehicle (EV) charging infrastructure market during the forecast period. The continuous demand for AC charging points can be attributed to cost and flexibility, especially for residential applications. Companies collaborate to increase their presence in the market. For example, MG Motor India collaborated with Prestige Group to set up 100 EV chargers across residential properties in Bangalore in August 2023. Such developments offer a vital push for the growth in the adoption of home charging solutions.
Installation Type (Fixed, Portable)
By the end of 2037, fixed installation segment is estimated to capture around 78% electric vehicle charging infrastructure market share. Fixed installations are mainly deployed as they offer reliability, scalability, and seamless integration into existing infrastructures. Fixed stations provide robust and convenient charging, suitable for public charging networks and commercial applications. For instance, in July 2023, Siemens equipped 64 ENGIE Vianeo stations with 320 high-power EV chargers, along freeway rest areas across France, thereby showing the scalability and efficiency of fixed infrastructure in high-traffic places even further.
Application (Private, Semi-Public, Public)
In electric vehicle charging infrastructure market, private segment is expected to account for around 73.5% revenue share by 2037. The factors driving the growth include easy installation and minimal infrastructure updates, which the public charging stations do not offer and minima. Partnerships among other market players are further supporting the segment's growth. For instance, in June 2024, Blink Charging Co. and Envoy Technologies Inc. collaborated to deliver shared EVs on-site among the residents. This move boosts the convenience and sustainability among the residents, consequently increasing the demand for private charging solutions.
Our in-depth analysis of the electric vehicle (EV) charging infrastructure market includes the following segments:
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Segment |
Subsegments |
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Charging Level |
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Charging Point Type |
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Installation Type |
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Application |
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Charging Infrastructure Component |
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APEJ Market Statistics
Asia Pacific excluding Japan in electric vehicle charging infrastructure market is expected to account for around 33.2% revenue share by 2037. Several key factors are driving this growth, including rapid urbanization, increasing disposable income, and supportive government policies promoting EV adoption. Additionally, the presence of major automotive manufacturers in the region, coupled with their focus on developing affordable EV models contributes to the market's growth in this region.
China leads the APEJ EV charging infrastructure market and is expected to continue its dominance until 2037. The prime factors driving EV charging infrastructure in China include government support through subsidies, incentives, and benign policies for spreading EV adoption and developing a robust charging network. For instance, in June 2023, the Chinese government extended the exemption on new energy vehicle taxes to 2027, continuing to drive EV sales and indirectly charging infrastructure demand.
India’s EV charging infrastructure industry is expected to rise at a CAGR of 32.5% during the forecast period. One of the huge catalysts for growth in India's EV charging infrastructure market has been the ambitious target set by the government, which is to achieve 30% EV sales penetration by the year 2030. Initiatives launched by the government to achieve this target include the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles scheme, which provides financial incentives for both purchases of EVs and the setting up of charging infrastructure. Further, partnerships between public and private sectors have been quite instrumental in expanding the network of charging outlets and thereby accelerating the adoption of EVs in India.
North America Market Analysis
North American EV charging infrastructure market is likely to expand at a CAGR of 32.9% during the projection period. Some factors driving growth include the rising adoption of EVs, favorable government policies such as tax incentives and subsidies, and technological advancements in EV charging. Furthermore, increasing funds by the public and private sectors for the development of charging infrastructure is expected to boost market growth going ahead.
The U.S. is anticipated to lead the EV charging infrastructure market with a CAGR of 32.9% through 2037. One major development that reinforces growth is the Bipartisan Infrastructure Law passed in November 2021, which dedicated USD 7.5 billion to establishing a national network of 500,000 EV chargers. This investment is likely to substantially improve access to and availability of the charging infrastructure, thereby further stimulating EV adoption and market growth.
Canada is likely to offer ample expansion opportunities for players in the EV charging infrastructure market during the forecast period. In February 2022, the Canadian government announced an investment of USD 547.5 million to facilitate the installation of 50,000 EV chargers across the country. This resulted in added convenience to charging electric vehicles while supporting the expansion of the market.
The EV charging infrastructure market is highly fragmented, with established players competing for market share against new entrants. ChargePoint, Inc., Blink Charging Co., and Tesla, Inc. presently dominate the market, driven by strong brand presence, strength in technology, and the wide spread of their charging networks. Companies like these have a strong focus on building scale through strategic partnerships, business acquisitions, and innovation in the sphere of EV charging.
Some partnerships and collaborations are changing the competitive landscape. For example, in October 2023, Toyota and its luxury brand Lexus joined Tesla's North American Charging Standard plug for EV charging. This decision is in line with similar steps by other large automakers, including Ford, GM, Honda, and BMW. This collaboration is likely to further raise the competitive bar in driving innovation within the market.
Here are some leading companies in the electric vehicle (EV) charging infrastructure market :
Author Credits: Saima Khursheed
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