The study involved four major activities in estimating the current size of the EV Charging Station market. Exhaustive secondary research was done to collect information on the market, the peer market, and the child markets. The next step was to validate these findings, assumptions, and sizing with the industry experts across value chains through primary research. The top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation processes were used to estimate the market size of segments and subsegments.
Secondary Research
In the secondary research process, various secondary sources such as company annual reports/presentations, press releases, industry association publications [for example, European Alternative Fuels Observatory (EAFO), European Automobile Manufacturers' Association (ACEA), China Association of Automobile Manufacturers (CAAM), International Organization of Motor Vehicle Manufacturers (OICA), Electrical Vehicle Charging Association (EVCA), National Highway Traffic Safety Administration (NHTSA), International Energy Association (IEA)], articles, directories, technical handbooks, trade websites, technical articles, and databases (for example, Marklines, and Factiva) have been used to identify and collect information useful for an extensive commercial study of the global EV Charging Station market.
Primary Research
Extensive primary research was conducted after acquiring an understanding of the EV Charging Station market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand (automotive OEMs) and supply (EV Charge Point Operator and EV Charging Service providers sides across major regions, namely, China, Asia Pacific, Europe, North America, Middle East and Rest Of the World. Approximately 30% and 70% of primary interviews were conducted from the demand and supply sides, respectively. Primary data was collected through questionnaires, emails, and telephonic interviews.
In the canvassing of primaries, various departments within organizations, such as sales, operations, and marketing, were covered to provide a holistic viewpoint in the report. After interacting with industry experts, brief sessions were also conducted with highly experienced independent consultants to reinforce the findings from primaries. This, along with the in-house subject matter experts’ opinions, led to the findings described in the remainder of this report.
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
In the bottom-up approach, EV charging station sales at the country level were considered. The penetration of EV charging stations was identified at the country/region level through secondary and primary research. Vehicle sales at the country level were then multiplied by the penetration rate of electric vehicle charging stations to determine the size of the EV charging station market in terms of volume. The country-level market size, in terms of volume, was then multiplied by the region-level average EV charging station subscription price to determine the market size in terms of value for each vehicle type. The summation of the region-level market size by volume and value gives the global-level market size.
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Market Size Validation
To derive the market for EV charging stations, by segment, in terms of volume, the adoption rate of all segments was identified at the regional level. To derive the market in terms of value, the cost breakup percentage of all segments at the regional level was applied to the global value of the EV charging station market. This gives the market for each segment in terms of volume and value.
For instance,
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The EV charging station market, by level of charging, was derived using the top-down approach to estimate the subsegments: Level 1, Level 2 while level 3 was derived from DC charger sales.
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The market size, in terms of volume, was derived at the country level. The total volume of the market were multiplied by the adoption rate breakup percentage of charging level at the country level, respectively.
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
An electric vehicle is an automobile propelled by one or more electric motors. An electric vehicle uses energy stored in rechargeable batteries, which can be charged using private or public charging infrastructure. There are four main types of electric vehicles, namely, battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), hybrid electric vehicles (HEVs), and fuel cell electric vehicles (FCEVs).
EV charging station is electrical equipment used to charge plug-in electric vehicles. This equipment can charge an electric vehicle in 6-20 hours for normal charging (Level 1 & Level 2 charging) and approximately 15-60 minutes for fast/supercharging (Level 3 charging). EVs have different charging requirements and can be used with the required chargers. They allow the conversion of current for the vehicle to be easily charged and set up at homes, semi-public places, public charging stations, and a portable charging system.
List of Key Stakeholders
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Associations, Forums, and Alliances related to EV Charging Stations
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Utility Companies
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Oil & Gas Companies
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Automobile Manufacturers
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Battery Distributors
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Battery Manufacturers
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Charging Infrastructure Providers
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Charging Service Providers
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Energy Storage Companies
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Environmental Groups
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EV Charging Pole Manufacturers
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EV Charging Network Operators
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EV Charging Station Service Providers
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EV Component Manufacturers
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EV Distributors and Retailers
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EV Manufacturers
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Electric Utilities and Grid Operators
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Electrical Contractors
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Government Agencies and Policymakers
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Property Owners
Report Objectives
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To segment and forecast the EV charging station market size in terms of volume (thousand units) and value (USD million)
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To define, describe, and forecast the market based on level of charging, charging service type, charge point operator, charging infrastructure type, charging point type, installation type, connection phase, application, DC fast charging type, operation, and region
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To segment and forecast the market size by volume (thousand units) and value (USD million) based on the level of charging (Level 1, Level 2, Level 3)
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To segment and forecast the market size by volume (thousand units) based on application (private, semi-public, public)
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To segment and forecast the market size by volume (thousand units) based on charging point type (AC charging, DC charging)
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To segment and forecast the market size by volume (thousand units) based on charging infrastructure type (CCS, CHAdeMO, Type 1, Tesla SC (NACS), GB/T Fast, Type 2)
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To provide qualitative insights on electric bus charging type (off-board top-down pantographs, onboard bottom-up pantographs, charging via connectors)
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To provide qualitative insights on charging service type (EV charging services, battery swapping services)
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To segment and forecast the market size by volume (thousand units) based on charge point operators (Asia Pacific, Europe, North America)
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To segment and forecast the market size by volume (thousand units) based on installation type (portable chargers, fixed chargers)
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To segment and forecast the market size by volume (thousand units) based on DC fast charging type (slow DC, fast DC, DC ultra-fast 1, DC ultra-fast 2)
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To segment and forecast the market size by volume (thousand units) based on operation (Mode 1, Mode 2, Mode 3, and Mode 4)
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To segment and forecast the market size by volume (thousand units) based on connection phase (single phase, three phase)
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To forecast the market size with respect to key regions, namely, China, Asia Pacific, Europe, North America, Middle East, and Rest of the World
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To provide detailed information regarding the major factors influencing the market growth (drivers, challenges, restraints, and opportunities)
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To strategically analyze the market with respect to individual growth trends, prospects, and contributions to the total market
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To study the following with respect to the market
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Value Chain Analysis
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Ecosystem Analysis
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Technology Analysis
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Case Study Analysis
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Patent Analysis
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Regulatory Landscape
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Average Selling Price Analysis
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Buying Criteria
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To strategically profile key players and comprehensively analyze their market shares and core competencies
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To track and analyze competitive developments such as deals, product developments, and other activities carried out by key industry participants
Available Customizations
With the given market data, MarketsandMarkets offers customizations in line with company-specific needs.
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Further breakdown for the EV Charging Station market, by charging level, at the country-level (for countries covered in the report)
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Further breakdown of the EV Charging Station market, by DC charging Type, at the country-level (for countries covered in the report)
Company Information
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Profiles of additional market players (up to five)
James
Jun, 2022
I would like to know more about the investments and policies expected to help boost the growth of the electric vehicle charging station market.
Jason
Dec, 2022
The global electric vehicle charging station market size is projected to grow from 2,354 thousand units in 2022 to 14,623 thousand units by 2027, at a CAGR of 44.1. Factors such as rising sales of EVs around the world, along with the growing demand for zero-emission transport will boost the demand for the electric vehicle charging station market. Developments in technologies like portable charging stations, bi-directional charging, smart charging with load management, usage-based analytics, and automated payment, and the development of ultra-fast charging technology will create new opportunities for this market..
Leon
Dec, 2022
This is a brand-new study published couple e of weeks ago and the report covers the industry statistics considering the actual sales volumes and revenue for the year 2021 as the base year data to estimate and forecast the market to 2027. Yes, we have covered the post-COVID19 impact analysis and Supply Chain disruption of the market and also since we track the EV market, we have drawn parallels from the EV sales growth report to estimate the growth rates for the EVSE market..