Global Electric Car Chargers Market Size, Share and Trends Analysis Report, By Vehicle Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Hybrid Electric Vehicle), By Charging Type (On-Board Chargers and Off-Board Chargers), and By End-User (Residential and Commercial) Forecast Period (2022-2028)

The global electric car chargers market is anticipated to grow at a CAGR of 21.1 % during the forecast period (2022-2028). Increasing government regulations to reduce pollution, increase access to the electric car market, and the expansion of government programs to improve electric vehicle charging infrastructure is expected to accelerate the market growth during the forecast period. However, the limited number of EV charging stations, the lack of EV charging suspension, the increase in demand for luxury cars and power supply, and wireless charging of electric vehicles are impacting the growth of the market during the forecast period.

In addition, fuel for fossil fuels is not a renewable energy source and is expected to run out in the future and will positively imopact the market as adoption of electric vehicles will increase. To support sustainable development, it is important to develop and utilize alternative fuel sources. It includes the use of electric vehicles, which do not use gas and are more economical than conventional vehicles. An electric car converts more than 50% of the electricity from the grid to wheels, while a gas-powered car can convert about 17% –21% of the energy stored in the fuel. Demand for fuel-efficient vehicles has recently increased due to rising fuel and diesel prices. This is due to the depletion of fuel reserves and the growth of the corporate practice of making huge profits from these oil reserves. These factors increase the need for better fuel-saving technologies, leading to increased demand for electric vehicles for transportation over the forecast period.

The government provides car manufacturers with subsidies, discounts, and fixed allowances. Government grants for electric car purchases are important in influencing customer purchasing decisions. These factors have boosted the sale and production of EVs globally and created demand for the electric car chargers market during the forecast period. The growing number of electric vehicles requires charging stations and power grids established to ensure the smooth running of the vehicles.

Some major players in the market include ABB Ltd., AeroVironment Inc., Chargemaster Plc., Pod Point Ltd., and Siemens AG, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in July 2021, ChargePoint Holdings, Inc., the leading E-charging network in North America and Europe, announced it had entered into a guaranteed acquisition agreement to be an e-mobility provider with Europe’s leading charging software platform.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Vehicle Type
  • By Charging Type
  • By End-User
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- ABB Ltd., AeroVironment Inc., Chargemaster Plc., Pod Point Ltd., and Siemens AG, among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Electric Car Chargers Market Report by Segment

By Vehicle Type

• Battery Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Hybrid Electric Vehicle

By Charging Type

• On-Board Chargers
• Off-Board Chargers

By End-User

• Residential
• Commercial

Global Electric Car Chargers Market Report by Region

North America

• United States
• Canada

Europe

• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe

Asia-Pacific

• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific

Rest of the World

• Latin America
• Middle East & Africa