The EV Charger Service Market is expected to grow from USD 15.42 billion in 2020 to USD 94.17 by 2026 at a CAGR of 17.41% from 2020 to 2026.
Electric vehicle (EV) charging service includes an electric vehicle charging station where an electric vehicle can be charged. Same as fuel stations, charging stations are used for refilling the charging into electric vehicle batteries. As the number of electric vehicles is rising, the demand for rapid charging is also rising. Commonly, when the battery of an electric vehicle is likely to dry, the rate of charging is high. As the battery is charged, the rate of charging eventually decreases, which is known as tapering. Tapering can be observed at above 50% of charging. Thus, the electric vehicle manufacturers suggest charging vehicles up to 80% only. Implementation of strict emission norms is majorly boosting the global EV charger service market. Various governments from countries such as Germany, China, India, Brazil and France have declared ban on use of diesel powered vehicles, in order to curb carbon emissions. Governments of various other countries are projected to impose strict emission rules in the near future in order to match the Paris Climate Accord. It is an agreement signed by 195 nations in order to maintain the global temperature rise well below 2°C. Strict emission rules are driving the demand for electric and hybrid electric vehicles. This, in turn, is surging the demand for EV charger service. In addition, the development of higher-efficiency electric vehicle batteries and vehicles is accelerating the global EV charger service market. On the other hand, the availability of household EV chargers is a key restraint of the global EV charger service market. Various companies have introduced vehicles which can be charged at home, which is constraining the market. Moreover, the electrical Vehicles operating on electricity will minimize the operating cost of usage for these vehicles. Manufacturers are estimated to develop EV’s with improved battery life and longer usage duration. Another key factor propelling the market is the minimum cost of electric vehicles with the reduction of battery cost which may result in surge in demand for EV’s and EV charger services.
Furthermore, many countries have identified the requirement to go electric to minimize the growing pollution levels from vehicles, with the US and China already gearing up to electric vehicles. These countries have taken initiatives to enhance the charging network across their states for ease of shifting to EV’s and encouraging this segment using tax rebates, incentives, preferential policies etc. China, US and few European countries have supported the setting up cost of EV charging stations at residential complexes, semi public areas, private homes etc. Thus, the above mentioned factors are creating opportunities for the market.
The global EV Charger Service Market is segregated on the basis of Charging Station as AC Charging Station, DC Charging Station and Inductive Charging Station. Based on Connector Type the global EV Charger Service Market is segmented in CHAdeMO, CCD and Others. Based on Location the global EV Charger Service Market is segmented in Public and Private. Based on Charging Level the global EV Charger Service Market is segmented in Level 1, Level 2 and Level 3.
The global EV Charger Service Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The EV Charger Service Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
ABB, EVgo Services LLC., ChargePoint, Inc., Blink Charging Co., Allego and others are among the major players in the global EV Charger Service Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global EV Charger Service Market has been segmented as below:
EV Charger Service Market, By Charging Station
EV Charger Service Market, By Connector Type
EV Charger Service Market, By Location
EV Charger Service Market, By Charging Level
EV Charger Service Market, By Region
EV Charger Service Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global EV Charger Service Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global EV Charger Service Market share. Major industry players with significant revenue share include ABB, EVgo Services LLC., ChargePoint, Inc., Blink Charging Co., Allego, Schneider Electric and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. EV Charger Service Market, By Charging Station
5.1. Key Points
5.2. AC Charging Station
5.3. DC Charging Station
5.4. Inductive Charging Station
6. EV Charger Service Market, By Connector Type
6.1. Key Points
6.2. CHAdeMO
6.3. CCD
6.4. Others
7. EV Charger Service Market, By Location
7.1. Key Points
7.2. Public
7.3. Private
8. EV Charger Service Market, By Charging Level
8.1. Key Points
8.2. Level 1
8.3. Level 2
8.4. Level 3
9. Competitive Landscape
9.1. Introduction
9.2. Start-up companies- EV Charger Service Market
9.3. Recent Developments
9.3.1. Mergers & Acquisitions
9.3.2. New Product Developments
9.3.3. Portfolio/Production Capacity Expansions
9.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
9.3.5. Others
10. Company Profile
10.1. ABB
10.2. EVgo Services LLC.
10.3. ChargePoint, Inc.
10.4. Blink Charging Co.
10.5. Allego
10.6. Schneider Electric
10.7. Toshiba Corporation
10.8. Wi Tricity Corporation
10.9. Mojo Mobility Inc.
10.10.AeroVironment, Inc.
10.11. Robert Bosch GmbH
10.12. General Electric
10.13. Evatran Group
10.14. Chargemaster plc
10.15. Siemens AG
10.16. Tesla.
10.17. Shell
10.18. BYD
10.19. BP Chargemaster
10.20. ClipperCreek, Inc.
10.21. General Electric Company
10.22. Eaton Corp.
10.23. Leviton Manufacturing Co., Inc.
10.24. Webasto SE
EV Charger Service Market, By Charging Station
EV Charger Service Market, By Connector Type
EV Charger Service Market, By Location
EV Charger Service Market, By Charging Level
EV Charger Service Market, By Company