Inkwood Research anticipates that the global electric vehicle charging system market will reach $101.59 billion by 2028, progressing with a 46.66% CAGR over the forecasting period. The base year considered for the market study is 2020 and the forecast years are from 2021 to 2028. The adoption of electric vehicles has shown tremendous growth worldwide. It is also promising as a cleaner mode of transport, provided the source of the electricity is renewable. However, the electric vehicle market requires a strong electric charging infrastructure in place.

GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET FORECAST 2021-2028

Global Electric Vehicle Charging System Market by Product Type (Home Charging Systems, Commercial Charging Systems) Market by Mode of Charging (Plug-in Charging System (Level 1, Level 2, Level 3), Wireless Charging System) and by Geography

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Inkwood Research anticipates that the global electric vehicle charging system market will reach $101.59 billion by 2028, progressing with a 46.66% CAGR over the forecasting period. The base year considered for the market study is 2020 and the forecast years are from 2021 to 2028.

The adoption of electric vehicles has shown tremendous growth worldwide. It is also promising as a cleaner mode of transport, provided the source of the electricity is renewable. However, the electric vehicle market requires a strong electric charging infrastructure in place. In this regard, the electric vehicle charging system entails a setup that powers electric vehicles. Several companies and start-ups have entered this industry owing to the increased demand for electric vehicles. Moreover, the sector also witnesses myriad technological developments, such as faster charging time and longer range.
electric-vehicle-charging-system-market

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Key drivers fueling the global electric vehicle charging system market growth:

  • Growth in the electric vehicle industry
    • Despite the COVID-19 pandemic, the sales of electric vehicles continue to observe a growing trend.
    • Electric vehicles are facilitated by environmental concerns, technological innovations, and governmental incentives.
    • Upon analyzing the current trends, several leading automotive companies have started manufacturing electric vehicles.
    • The large-scale deployment of electric vehicle charging systems is highly crucial for the market growth.
  • Rising environment pollution concerns
  • Governmental push for the electric vehicle industry
  • Technological advancements
  • Phase-out plans of internal combustion engine vehicles by various countries

Key market growth restraining factors:

  • High costs of electric vehicle charging infrastructure
    • The cost of setting up electric vehicle charging systems is relatively high.
    • Moreover, the overall price includes the original setup cost as well as the maintenance.
    • The possibility of incurring unanticipated expenses, such as faulty or damaged charging equipment, among others, is highly likely.
    • Hence, the high costs associated with setting up electric vehicle charging infrastructure negatively affects its adoption.
  • Lack of standardization
  • High charging time
  • Competition from hydrogen fuel cell vehicles

The report scope of the global electric vehicle charging system market covers the segmentation analysis of mode of charging and product type.

Market by Product Type

  • Commercial Charging Systems
  • Home Charging Systems
    • As the most commonly adopted electric vehicle charging infrastructure, home charging systems is expected to be the dominating product type by 2028.
    • This segment is mainly boosted by purchases from residential users who own electric vehicles and have high disposable incomes.
    • The initiatives undertaken by the government to reduce carbon emissions further make it lucrative for buyers.
    • However, the solution is not suitable for urban areas, where people live in tall buildings, since they do not have adequate space or access for setting up electric vehicle charging systems.

Geographically, the global electric vehicle charging system market is segmented based on four major regions, which includes:

  • North America: The United States and Canada
    • North America is the leading region across the global electric vehicle charging system market.
    • Incentive programs launched by the governments are among the key factors fueling the region’s market growth.
    • The North American market is considerably developed and competitive, with several leading companies operating in the region. Besides, the United States has a well-established presence of major market players.
    • North America provides companies with profitable funding opportunities, owing to the regional market’s popularity.
  • Europe: The United Kingdom, Germany, France, Norway, the Netherlands, and Rest of Europe
  • Asia-Pacific: China, Japan, India, South Korea, Singapore, Australia & New Zealand, and Rest of Asia-Pacific
  • Rest of World: Latin America, the Middle East & Africa

Major players operating in the global electric vehicle charging system market:

  • ABB Ltd
  • ChargePoint
  • EVBox
  • EVgo
  • Tesla
  • Others

Key strategies adopted by some of these companies:

In February 2021, Efacec introduced a new generation of chargers. In December 2020, ABB and ChargeLab partnered to offer integrated electric vehicle charging hardware and software. In March 2020, Blink Charging launched its innovative new mobile EV charging station. ABB Ltd acquired Chargedot Shanghai New Energy Technology Co Ltd in March 2020.

Key trends of the global electric vehicle charging system market:

  • The growing interest in wireless charging technology and transitioning dynamics augment the global market’s traction.
  • Developments across vehicle-to-grid (V2G) technologies provide the market with lucrative growth opportunities.
  • Increased investments in the electric vehicle industry to fuel the market growth.
  • Firms are adopting the special purpose acquisition companies (SPAC) route for funding.

 

Frequently Asked Questions (FAQs):

  • Which country dominates the electric vehicle charging system market?

A: China dominates the global electric vehicle charging system market.

  • Which is the most significant challenge faced by the global electric vehicle charging system market?

A: High charging time is one of the major challenges faced by the global electric vehicle charging system market.

  • Which technological disruption is likely to affect the market in the future?

A: Technological advancements in wireless charging systems and the use of battery swapping systems as a mode of charging electric vehicles are some of the technological disruptions likely to be witnessed by the market over the upcoming years.

  • Which is the fastest-growing mode of charging?

A: Wireless charging system is the fastest-growing mode of charging.

  1. RESEARCH SCOPE & METHODOLOGY
    • STUDY OBJECTIVES
    • SCOPE OF STUDY
    • METHODOLOGY
    • ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    • MARKET SIZE & ESTIMATES
    • MARKET OVERVIEW
  3. MARKET DYNAMICS
    • DEVELOPMENT OF ELECTRIC VEHICLE CHARGING TECHNOLOGY
    • KEY DRIVERS
      • GROWTH IN ELECTRIC VEHICLE INDUSTRY
      • RISING ENVIRONMENT POLLUTION CONCERNS
      • GOVERNMENTAL PUSH FOR ELECTRIC VEHICLE INDUSTRY
      • TECHNOLOGICAL ADVANCEMENTS
      • PHASE-OUT PLANS OF INTERNAL COMBUSTION ENGINE VEHICLES BY VARIOUS COUNTRIES
    • KEY RESTRAINTS
      • HIGH COSTS OF ELECTRIC VEHICLE CHARGING INFRASTRUCTURE
      • LACK OF STANDARDIZATION
      • HIGH CHARGING TIME
      • COMPETITION FROM HYDROGEN FUEL CELL VEHICLES
  1. KEY ANALYTICS
    • IMPACT OF COVID-19 ON ELECTRIC VEHICLE CHARGING SYSTEM MARKET
    • KEY INVESTMENT INSIGHTS
    • PORTER’S FIVE FORCES ANALYSIS
      • BUYERS POWER
      • SUPPLIERS POWER
      • SUBSTITUTION
      • NEW ENTRANTS
      • INDUSTRY RIVALRY
    • OPPORTUNITY MATRIX
    • VENDOR LANDSCAPE
    • INCENTIVES FOR ELECTRIC VEHICLE CHARGING SYSTEM MARKET
    • VALUE CHAIN ANALYSIS
  2. MARKET BY PRODUCT TYPE
    • HOME CHARGING SYSTEMS
    • COMMERCIAL CHARGING SYSTEMS
  3. MARKET BY MODE OF CHARGING
    • PLUG-IN CHARGING SYSTEM
      • LEVEL 1
      • LEVEL 2
      • LEVEL 3
    • WIRELESS CHARGING SYSTEM
  4. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    •  EUROPE
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • NORWAY
        • NETHERLANDS
        • REST OF EUROPE
    •  ASIA-PACIFIC
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • SINGAPORE
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    •  REST OF WORLD
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA
  1. COMPETITIVE LANDSCAPE
    • KEY STRATEGIC DEVELOPMENTS
      • MERGERS & ACQUISITIONS
      • PRODUCT LAUNCHES & DEVELOPMENTS
      • PARTNERSHIPS & AGREEMENTS
      • BUSINESS EXPANSIONS & DIVESTURES
    • COMPANY PROFILES
      • ABB LTD
      • ALFEN
      • ALLEGO
      • BLINK
      • CHARGEPOINT
      • DELTA ELECTRONICS INC
      • EATON
      • EFACEC
      • EVBOX
      • EVGO
      • SCHNEIDER ELECTRIC
      • SEMACONNECT
      • SIEMENS
      • TESLA
      • WEBASTO

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ELECTRIC VEHICLE CHARGING SYSTEM

TABLE 2: COUNTRY-WISE PHASE-OUT PLANS FOR ICE VEHICLES

TABLE 3: INCENTIVES FOR NORTH AMERICA

TABLE 4: INCENTIVES FOR EUROPE

TABLE 5: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY PRODUCT TYPE, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 6: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY PRODUCT TYPE, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 7: GLOBAL HOME CHARGING SYSTEMS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 8: GLOBAL HOME CHARGING SYSTEMS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 9: GLOBAL COMMERCIAL CHARGING SYSTEMS MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 10: GLOBAL COMMERCIAL CHARGING SYSTEMS MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 11: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY MODE OF CHARGING, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 12: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY MODE OF CHARGING, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 13: GLOBAL PLUG-IN CHARGING SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 14: GLOBAL PLUG-IN CHARGING SYSTEM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 15: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY CHARGING VOLTAGE LEVEL, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 16: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY CHARGING VOLTAGE LEVEL, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 17: GLOBAL LEVEL 1 MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 18: GLOBAL LEVEL 1 MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 19: GLOBAL LEVEL 2 MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 20: GLOBAL LEVEL 2 MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 21: GLOBAL LEVEL 3 MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 22: GLOBAL LEVEL 3 MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 23: ADVANTAGES & DISADVANTAGES OF WIRELESS CHARGING SYSTEM

TABLE 24: GLOBAL WIRELESS CHARGING SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 25: GLOBAL WIRELESS CHARGING SYSTEM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 26: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 27: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY GEOGRAPHY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 28: NORTH AMERICA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 29: NORTH AMERICA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 30: EUROPE ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 31: EUROPE ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 32: ASIA-PACIFIC ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COUNTRY, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 33: ASIA-PACIFIC ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COUNTRY, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 34: REST OF WORLD ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY REGION, HISTORICAL YEARS, 2016-2020 (IN $ MILLION)

TABLE 35: REST OF WORLD ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY REGION, FORECAST YEARS, 2021-2028 (IN $ MILLION)

TABLE 36: LIST OF MERGERS & ACQUISITIONS

TABLE 37: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 38: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 39: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES

FIGURE 1: LITHIUM-ION BATTERY PRICE PER KWH (2010-2018)

FIGURE 2: KEY INVESTMENT INSIGHTS

FIGURE 3: PORTER’S FIVE FORCES ANALYSIS

FIGURE 4: OPPORTUNITY MATRIX

FIGURE 5: VENDOR LANDSCAPE

FIGURE 6: VALUE CHAIN ANALYSIS

FIGURE 7: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, GROWTH POTENTIAL, BY PRODUCT TYPE, IN 2020

FIGURE 8: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY HOME CHARGING SYSTEMS, 2021-2028 (IN $ MILLION)

FIGURE 9: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY COMMERCIAL CHARGING SYSTEMS, 2021-2028 (IN $ MILLION)

FIGURE 10: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, GROWTH POTENTIAL, BY MODE OF CHARGING, IN 2020

FIGURE 11: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY PLUG-IN CHARGING SYSTEM, 2021-2028 (IN $ MILLION)

FIGURE 12: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, GROWTH POTENTIAL, BY CHARGING VOLTAGE LEVEL, IN 2020

FIGURE 13: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY LEVEL 1, 2021-2028 (IN $ MILLION)

FIGURE 14: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY LEVEL 2, 2021-2028 (IN $ MILLION)

FIGURE 15: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY LEVEL 3, 2021-2028 (IN $ MILLION)

FIGURE 16: GLOBAL ELECTRIC VEHICLE CHARGING SYSTEM MARKET, BY WIRELESS CHARGING SYSTEM, 2021-2028 (IN $ MILLION)

FIGURE 17: NORTH AMERICA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 18: UNITED STATES ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 19: CANADA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 20: EUROPE ELECTRIC VEHICLE CHARGING SYSTEM MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 21: UNITED KINGDOM ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 22: GERMANY ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 23: FRANCE ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 24: NORWAY ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 25: NETHERLANDS ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 26: REST OF EUROPE ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 27: ASIA-PACIFIC ELECTRIC VEHICLE CHARGING SYSTEM MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 28: CHINA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 29: JAPAN ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 30: INDIA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 31: SOUTH KOREA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 32: SINGAPORE ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 33: AUSTRALIA & NEW ZEALAND ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 34: REST OF ASIA-PACIFIC ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION

FIGURE 35: REST OF WORLD ELECTRIC VEHICLE CHARGING SYSTEM MARKET, REGIONAL OUTLOOK, 2020 & 2028 (IN %)

FIGURE 36: LATIN AMERICA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

FIGURE 37: MIDDLE EAST & AFRICA ELECTRIC VEHICLE CHARGING SYSTEM MARKET, 2021-2028 (IN $ MILLION)

  1. MARKET BY PRODUCT TYPE
    • HOME CHARGING SYSTEMS
    • COMMERCIAL CHARGING SYSTEMS
  2. MARKET BY MODE OF CHARGING
    • PLUG-IN CHARGING SYSTEM
      • LEVEL 1
      • LEVEL 2
      • LEVEL 3
    • WIRELESS CHARGING SYSTEM
  3. GEOGRAPHICAL ANALYSIS
    • NORTH AMERICA
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED STATES
        • CANADA
    •  EUROPE
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • UNITED KINGDOM
        • GERMANY
        • FRANCE
        • NORWAY
        • NETHERLANDS
        • REST OF EUROPE
    •  ASIA-PACIFIC
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • COUNTRY ANALYSIS
        • CHINA
        • JAPAN
        • INDIA
        • SOUTH KOREA
        • SINGAPORE
        • AUSTRALIA & NEW ZEALAND
        • REST OF ASIA-PACIFIC
    •  REST OF WORLD
      • KEY GROWTH ENABLERS
      • KEY CHALLENGES
      • KEY PLAYERS
      • REGIONAL ANALYSIS
        • LATIN AMERICA
        • MIDDLE EAST & AFRICA

 

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