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Electric Vehicle Supply Equipment Market

Electric Vehicle Supply Equipment Market

Electric Vehicle Supply Equipment Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

148

Base Year:

2021

Date

Apr - 2022

Format:

PDF XLS PPT

Report Code:

VMR-1490

Segments Covered
  • By Power Type AC Power, DC Power
  • By Product Portable Charger, EV Charging Kiosk, Onboard Charging Station, Others
  • By Charging Station Type Normal Charging, Super Charging, Inductive Charging
  • By Application Commercial, Residential
  • By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Forecast YearsForecast Years: 2021 - 2028
Historical YearsHistorical Years: 2016 - 2020
Revenue 2021Revenue 2021: USD 2,037.1 Million
Revenue 2028Revenue 2028: USD 7,808.2 Million
Revenue CAGRRevenue CAGR (2021 - 2028): 25.1%
Fastest Growing Region Fastest Growing Region (2021 - 2028) Asia Pacific
Largest Region Largest Region (2021): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst
Electric Vehicle Supply Equipment Market Share

Market Synopsis:

The Global Electric Vehicle Supply Equipment Market is valued at USD 2,037.1 Million in the year 2021 and is projected to reach a value of USD 7,808.2 Million by the year 2028. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 25.1% over the forecast period.

Electric Vehicle Supply Equipment Market Size, 2021 To 2028 (USD Million)

EVSE stands for Electric Vehicle Supply Equipment, and it is used to charge electric vehicles in a variety of residential and commercial settings such as homes, corporate offices, highways, parks, hotels, and bus depots. Market growth is aided by increased public and private sector initiatives to encourage the adoption of electric vehicles (EVs). Several governments have begun to offer financial incentives, such as subsidies and tax breaks, to encourage people to purchase electric vehicles, which is contributing to an increase in demand for Electric Vehicle Supply Equipment.

In the countries that produce the most electricity, utilities charge lower tariffs for electricity consumed by EVSE, which drives the market. Furthermore, there has been an increase in government initiatives in recent years, such as the awarding of contracts for the development of charging infrastructure around the world. Furthermore, the increasing emphasis of private organizations is resulting in an increase in demand for Electric Vehicle Supply Equipment. Several public transportation agencies are focusing on collaborations with bus manufacturers to develop bus charging stations. Aside from that, various government agencies are funding the development of charging stations. The growing emphasis of various governments and automobile companies on improving the performance of charging infrastructure is expected to drive the market even further. a

Market Segmentation:

The Electric Vehicle Supply Equipment Market is segmented on the basis of Power type, Product, Charging station type and Application. On the basis of power type, the market is segmented into AC Power and DC Power. On the basis of product, the market is segmented into Portable Charger, EV Charging Kiosk, Onboard Charging Station and Others. On the basis of charging station type, the market is segmented into Normal Charging, Super Charging and Inductive Charging. On the basis of charging station type, the application is segmented into Commercial and Residential.

Below tree is interactive. You can click the nodes to get more information.

Based on Power Type

On the basis of power type, the market is segmented into AC Power and DC Power. The DC power segment dominated the market, and it is expected to grow significantly over the forecast period. The increase in the number of Public-Private Partnerships (PPP) for the development of level-1 and level-2 DC charging stations in commercial locations is a major factor driving the growth of this segment. Furthermore, when compared to AC chargers, DC chargers allow drivers to charge electric vehicles at a faster rate. Over the forecast period, the AC power segment is expected to grow at a rapid pace. In addition, there has been a significant increase in the adoption of level-1, AC chargers among corporate organizations, which is driving the segment even further.

Based on Product

On the basis of product, the market is segmented into Portable Charger, EV Charging Kiosk, Onboard Charging Station and Others. Due to the adoption of self-service charging solutions such as EV interactive kiosks with advanced intelligence, the EV charging kiosk segment dominated the market in 2018. Furthermore, technological advancements such as the integration of Radio-Frequency Identification (RFID) and Near Field Communication (NFC) in EVSE have improved the performance of digital payments for EV customers using the infrastructure. Furthermore, the lack of additional workforce in developed countries has made it difficult for electric vehicle charging station owners to assign customer service representatives during peak traffic periods.

Asia Pacific to Continue Dominating the Global Electric Vehicle Supply Equipment Market

Asia Pacific is likely to be the fastest-growing regional market over the forecast period with a market share of 36.90%. Asia Pacific held the largest market share in 2021 and is expected to grow at the fastest Compound Annual Growth Rate (CAGR). The emphasis placed by various governments on increasing the adoption of electric vehicles and supporting charging infrastructure has prompted a number of start-ups as well as key global players to collaborate with government agencies to develop new charging solutions. Furthermore, governments in countries such as South Korea and Japan are focusing large investments on expanding EV charging infrastructure

Competitive Landscape:

Key players operating in the Global Electric Vehicle Supply Equipment Market include AeroVironment Inc., ABB Ltd., ChargePoint Inc., ClipperCreek Inc., Chargemaster PLC, Eaton Corporation, Leviton Manufacturing Company, Inc., Siemens. and others.

Segmentation of the Global Electric Vehicle Supply Equipment Market:

Parameter Details
Segments Covered
  • Power Type (AC Power, DC Power)
  • Product (Portable Charger, EV Charging Kiosk, Onboard Charging Station, Others)
  • Charging Station Type (Normal Charging, Super Charging, Inductive Charging)
  • Application (Commercial, Residential)
  • Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa)
Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • AeroVironment Inc.
  • ABB Ltd.
  • ChargePoint Inc.
  • ClipperCreek Inc.
  • Chargemaster PLC
  • Eaton Corporation
  • Leviton Manufacturing Company Inc.
  • Siemens.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis

Electric Vehicle Supply Equipment Market to Reach Valuation of USD 7,808.2 Million by 2028 - Increasing Demand for electric vehicles to Drive the Market Growth
From the period 2022 to 2028, the Global Electric Vehicle Supply Equipment Market is expected to reach USD 7,808.2 Million in terms of revenue, growing at a Compound Annual Growth Rate (CAGR) of 25.1%. An electric vehicle's electricity is supplied by the Electric Vehicle Supply Equipment Market (E...
FAQ
Frequently Asked Question
  • The global Electric Vehicle Supply Equipment valued at in 2020 and is expected to reach in 2028 growing at a CAGR of 25.1%.

  • The prominent players in the market are AeroVironment Inc., ABB Ltd., ChargePoint Inc., ClipperCreek Inc., Chargemaster PLC, Eaton Corporation, Leviton Manufacturing Company, Inc., Siemens..

  • The market is project to grow at a CAGR of 25.1% between 2021 and 2028.

  • The driving factors of the Electric Vehicle Supply Equipment include

    • Government initiatives for development of electric vehicle charging infrastructure

  • Asia Pacific was the leading regional segment of the Electric Vehicle Supply Equipment in 2020.

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