Electric Vehicle Charging Station Market

Analysis by Charging Point (AC Charging, DC Charging, and Wireless Charging); by Level of Charging (Level 1, Level 2, and Level 3); by Vehicle Type (Private, and Commercial); by Installation Type (Fixed, and Portable); and by Connector (Normal Charging, Type-2, CHAdeMO, CCS, and GB/T) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 2912 | Published On: Feb 27, 2023
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Global Electric Vehicle Charging Station Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global electric vehicle charging station market is estimated to garner a revenue of ~USD 130 Billion by the end of 2033 by growing at a CAGR of ~30% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 15 Billion in the year 2022. The primary factor attributed to the electric vehicle charging stations market growth is the increased production of electric vehicles across the world. One of the primary drivers of the worldwide electric vehicle charging station market is the rising popularity of electric vehicles. As more people switch to electric vehicles, the need for charging infrastructure grows. Electric cars are gaining popularity owing to their environmental benefits, as they emit no pollutants and minimize reliance on fossil fuels. Furthermore, as battery technology advances, the range of electric cars expands, making them more feasible for regular use. As per the reports of the International Energy Agency, the number of electric vehicle sales in 2021 surpassed sales of the year 2020, nearly doubling to 6.6 million.

Electric-Vehicle-Charging-Station-scope.jpg	 Government initiatives to drive the adoption of electric vehicles, along with rising demand for electric vehicle fast-charging infrastructure and increasing prevalence of range anxiety are anticipated to support the growth of the market in the forecast period. As a result, the production rate of electric vehicles is expected to grow considerably which in turn is projected to bring lucrative growth opportunities. For instance, by 2030, it is planned to produce approximately 55 million electric vehicles across the world.

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Global Electric Vehicle Charging Station Market: Key Insights

Base Year


Forecast Year



~ 30%

Base Year Market Size (2022)

~USD 15 Billion

Forecast Year Market Size (2033)

~USD 130 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Electric Vehicle Charging Station Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Population in the World – The burgeoning population is generating the need for fuel-efficient vehicles. Thus, the increasing demand for electric vehicle charging stations is expected to raise the production rate of electric vehicles in the forecast period. The World Bank calculated the global population to be 7.84 billion in 2021, an increase from 7.09 billion in 2021. This number is anticipated to rise to 9.8 billion in 2050 and 11.2 billion in 2100, as per the United Nations, Department of Economic and Social Affairs.

  • Expansion of the Automotive Industry - As the manufacturing and sale of electric vehicles and electric vehicle batteries expand, so does the need for charging infrastructure. As more automakers engage in the development of electric vehicles and the manufacturing of electric vehicles increases, the need for EV charging stations will rise, particularly in places where EV adoption is strong. Recent statistics reveal that the global automotive industry is expected to reach approximately USD 9 trillion by 2030.  

  • Rising Concerns of Carbon Dioxide Emission – A report published recently stated that a passenger vehicle emits about 5 metric tons of carbon dioxide per year. Also, as per the International Organization of Motor Vehicle Manufacturers, globally road transport is responsible for about 16% of man-made carbon dioxide emissions.

  • Increasing Prevalence of Electric Cars with Government Support - Government rules and incentives are key factors in the growing popularity of electric vehicles. To stimulate the use of electric cars, several nations have established objectives for EV adoption and are giving financial incentives to EV customers and charging station owners. Furthermore, several towns and municipalities have established measures to encourage EV adoption, such as increasing charging station capacity and providing parking as well as other incentives to EV owners.  The latest report by International Energy Agency stated the number of electric cars on the road was 16.5 million in 2021.


  • High Costs of Infrastructure - Technology and installation costs can be prohibitively expensive, especially for fast charging stations, which require sophisticated equipment and better infrastructure. The cost of running charging stations may be costly as well because it involves the costs of power, maintenance, and labor. This can make it challenging for charging station owners to generate a profit, especially in locations with low EV adoption or a scarcity of charging stations.
  • Non-presence of Standardization Among Nations
  • Increased Need for Investments and Assets

Global Electric Vehicle Charging Station Market Segmentation

The electric vehicle charging station market is segmented and analyzed for demand and supply by vehicle type into private and commercial. Out of these, the private segment is attributed to garner the highest market share by 2033, owing to the high demand for personal vehicles by the burgeoning population. The International Energy Agency stated that passenger electric cars are surging in popularity and is estimated that 13% of new cars sold in 2022 will be electric.

The global electric vehicle charging station market is also segmented and analyzed for demand and supply by the level of charging into level 1, level 2, and level 3. Out of these segments, the level 2 segment is anticipated to garner the highest share of the market. This can be owed to the fact that the level 2 charging station offers a better range than level 1, while not requiring the special infrastructure required for level 3 DC fast chargers. For instance, a typical EV can be charged in 8-10 hours with a level 2 charger.

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

           By Charging Point

  • AC Charging
  • DC Charging
  • Wireless Charging

            By Level of Charging

  • Level 1
  • Level 2
  • Level 3

           By Vehicle Type

  • Private
  • Commercial

           By Installation Type

  • Fixed
  • Portable

           By Connector

  • Normal Charging
  • Type-2
  • CHAdeMO
  • CCS
  • GB/T

Global Electric Vehicle Charging Station Market Regional Synopsis

The Asia Pacific electric vehicle charging station market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, owing to the large production of electric vehicles in the region. China is the top producer of electric vehicles as per the International Energy Agency. The electric car registration rose from the year 2019 with almost 1000 thousand units to the year 2020 with around 1300 thousand units. Further, the large population in the region is expected to increase the demand for electric vehicles in the assessment period. The population in East Asia and the Pacific as per World Bank was 2.37 billion in 2021. Additionally, technological advancements, growth in Gross Domestic Level (GDP) along with the rise in disposable income are other factors that are anticipated to fuel the electric vehicle market size.

Additionally, the market in the European region is also projected to grow rapidly over the forecast period owing to government initiatives to build charging infrastructure across the area are factors contributing to the high growth of this region. France, Germany, the Netherlands, Norway, and the United Kingdom are five of the region's leading nations for electric cars and charging stations. To encourage customers to adopt the new technology, the EU set a goal in 2021 of one million public charging stations for electric cars by 2024 and three million by 2029. Furthermore, the deployment of EV charging stations in the area is being sparked by several other European nations' targets to lower carbon emissions and expand the use of electric vehicles in the forecast period.


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Top Featured Companies Dominating the Global Electric Vehicle Charging Station Market

    • ABB Group
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • BYD Motors Inc.
    • Shell Group
    • ChargePoint
    • Tesla
    • Schneider Electric
    • Blink Charging Co.
    • General Electric Company
    • Toshiba Corporation
    • Siemens Aktiengesellschaft

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the electric vehicle charging station market?

Ans: Rising disposable income and the growing prevalence of neurological disorders are the major factors driving the growth of the botulinum toxin market.

2) What would be the CAGR of electric vehicle charging station market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~30% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the electric vehicle charging station market growth?

Ans: The high costs of infrastructure along with the increased need for investments and assets along with the non-presence of standardization among nations are expected to hamper the market growth.

4) Which region will provide more business opportunities for growth of electric vehicle charging station market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the electric vehicle charging station market?

Ans: The major players in the market are BYD Motors Inc., Shell Group, ABB Group, ChargePoint, Tesla, Schneider Electric, Blink Charging Co., General Electric Company, Toshiba Corporation, Siemens Aktiengesellschaft, and other key players.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company

7) What are the segments in the electric vehicle charging station market?

Ans: The market is segmented by charging point, level of charging, vehicle type, installation type, connector, and by region.

8) Which segment captures the largest market size in vehicle type in the electric vehicle charging station market?

Ans: The private segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities

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