EV Charger Market

EV charger market is projected to reach USD 32 billion by 2028, exhibiting a CAGR of 27.2% during forecast period.

EV charger market Overview

The EV Chargers are used for the recharging of electric vehicles including battery-electric cars, plug-in hybrid vehicles, electric buses, and others.

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Major EV charger market Drivers

Increasing electro-mobility coupled with the growing need for more efficient charging solutions is expected to drive the growth of the electric vehicles charger market size over the forecast period. Additionally, rising awareness pertaining to the reduction of vehicular emissions that contribute to climate change and smog is further stimulating the demand for EVs thereby expected to contribute to the market growth of the EV charging market. Moreover, according to the International Energy Agency (IEA), in 2019, electric cars registered 2.1 million sales globally with a 40% year-on-year increase and accounted for 2.6% of the global car sales, which is expected to provide growth opportunities to the EV charger market size over the forecast period.

Restraint in the EV Charger Market

However, the high price of electric vehicles may restraint the market growth. Moreover, the lack of EV charging stations in developing countries including India, Saudi Arabia, and others is expected to restraint the growth of the market.

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Vehicle Type – Segment Analysis

Based on the type of vehicles, battery electric vehicles are expected to hold a high market share over the forecast period owing to easy servicing than HEVs and PHEVs and reduced carbon footprints released into the atmosphere. Additionally, the presence of pure electric vehicles including Audi e-Tron, BMW i3, Chevrolet Bolt EV, Nissan LEAF, Tesla Model X, and others are further accelerating the market growth.

End-User – Segment Analysis

Based on the end-user, commercial end-user is expected to hold a notable share in the market primarily due to the increasing installation of public EV charging infrastructure at several places including movie theatres, stadiums, airports, shopping malls, corporate buildings, hotels, and others.

Charging Type – Segment Analysis

Based on the charging type, the onboard charger is expected to grow at a high CAGR over the forecast period. This can be attributed to the advantage to charge electric vehicles from the commonly available power source. The onboard systems are designed to meet the specific voltage requirements of the battery and the grid that reduces the risk of vandalism of EVs. This is further expected to contribute to the demand for onboard chargers.

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Regional – Segment Analysis:

North America is expected to hold a major market share over the forecast period owing to the high adoption of the intelligent transportation system, increasing demand for fuel-efficient vehicles, and the growing number of EV charging stations. According to the U.S. Department of Energy, several states in the U.S. have implemented incentives for the promotion and adoption of electric vehicles, including plug-in hybrid vehicles (PHEVs) and battery electric vehicles (BEVs). In addition, there are more than 27,000 public charging station locations in the U.S., and in 2019, 320,000 new EVs were sold in the U.S., which is expected to support the market growth during the forecast period.

Top Market Players

Several leading EV Charger companies operating in the market, include ABB Ltd., Robert Bosch GmbH, BorgWarner Inc., Siemens AG, Bp Pulse, Chroma ATE Inc., Pod Point Limited, Silicon Laboratories Inc., Hitachi, Ltd., and Eaton Corporation Plc, and others.

Key Developments:

• • In 2020, BorgWarner Inc. has completed its acquisition of Delphi Technologies. The combination of BorgWarner and Delphi Technologies is expected to strengthen BorgWarner’s power electronics products, vehicles, and aftermarket businesses. 

Segments covered in the Report:

The global EV Charger market has been segmented on the basis of vehicle type, end-user, charging type, and key regions. Based on vehicle type, the market is segmented into Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV), and Hybrid Electric Vehicle (HEV). Based on the end-user, the market is segmented into residential and commercial. Based on the charging type, the market is segmented into on-board chargers and off-board chargers.

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Market Segmentation

Global EV Charger Market by Vehicle Type

• • Battery Electric Vehicle (BEV)
  • Plug-in Hybrid Electric Vehicle (PHEV)
  • Hybrid Electric Vehicle (HEV)

Global EV Charger Market by End-User

• • Residential
  • Commercial

Global EV Charger Market by Charging Type

• • On-board Chargers
  • Off-board Chargers

Global EV Charger Market by Region

• • North America EV Charger Market (Option 1: As a part of the free 25% customization)

    • North America EV Charger Market by Vehicle Type
    • North America EV Charger Market by End-User
    • North America EV Charger Market by Charging Type
    • US EV Charger Market All-Up
    • Canada EV Charger Market All-Up

  • Europe EV Charger Market (Option 2: As a part of the free 25% customization)

    • Europe EV Charger Market by Vehicle Type
    • Europe EV Charger Market by End-User
    • Europe EV Charger Market by Charging Type
    • UK EV Charger Market All-Up
    • Germany EV Charger Market All-Up
    • France EV Charger Market All-Up
    • Spain EV Charger Market All-Up
    • Rest of Europe EV Charger Market All-Up

  • Asia-Pacific EV Charger Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific EV Charger Market by Vehicle Type
    • Asia-Pacific EV Charger Market by End-User
    • Asia-Pacific EV Charger Market by Charging Type
    • China EV Charger Market All-Up
    • India EV Charger Market All-Up
    • Japan EV Charger Market All-Up
    • Rest of APAC EV Charger Market All-Up

  • RoW EV Charger Market (Option 4: As a part of the free 25% customization)

    • RoW EV Charger Market by Vehicle Type
    • RoW EV Charger Market by End-User
    • RoW EV Charger Market by Charging Type
    • Brazil EV Charger Market All-Up
    • South Africa EV Charger Market All-Up
    • Saudi Arabia EV Charger Market All-Up
    • UAE EV Charger Market All-Up
    • Rest of world (remaining countries of the LAMEA region) EV Charger Market All-Up

Major Players Operating in the EV Charger Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ABB Ltd.
  • Robert Bosch GmbH 
  • BorgWarner Inc.
  • Siemens AG
  • Bp Pulse
  • Chroma ATE Inc.
  • Pod Point Limited
  • Silicon Laboratories Inc.
  • Hitachi, Ltd.
  • Eaton Corporation Plc