According to the new market research report “NEV Charging Infrastructure - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global NEV Charging Infrastructure market size is projected to reach USD 17.92 billion by 2030, at a CAGR of 14.7% during the forecast period.
- Global NEV Charging Infrastructure MarketSize(US$ Million), 2019-2030
Source: QYResearch, "NEV Charging Infrastructure - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
A NEV Charging Infrastructure, also called EV charging station, electric vehicle charger, electric recharging point, charging point, charge pile, ECS (electronic charging station), and EVSE (electric vehicle supply equipment), is an element in an infrastructure that supplies electric energy for the recharging of plug-in electric vehicles—including electric cars, neighborhood electric vehicles and plug-in hybrids.
For charging at home or work, some EVs have onboard converters that can plug into a standard electrical outlet or a high-capacity appliance outlet. Others either require or can use a charging station that provides electrical conversion, monitoring, or safety functionality. These stations are also needed when traveling, and many support faster charging at higher voltages and currents than are available from residential EVSEs. Public charging stations are typically on-street facilities provided by electric utility companies or located at retail shopping centers, restaurants and parking places, operated by a range of private companies.
- Global NEV Charging Infrastructure Top21Players Ranking and Market Share (Ranking is based on the revenue of 2023, continually updated)
Source: QYResearch, "NEV Charging Infrastructure - Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of NEV Charging Infrastructure include ABB, BYD, TELD, Star Charge, Chargepoint, EVBox, Wallbox, Webasto, Leviton, Pod Point, etc. In 2023, the global top 10 players had a share approximately 48.0% in terms of revenue.
Market Drivers:
D1: The growing demand of electric vehicle directly drives the growth of the market
D2: The government's incentive measures for electric vehicles promote the development of the industry
D3: People's acceptance of electric vehicles has increased
Restraint:
One of the primary restraints is the uneven distribution of charging infrastructure. In many regions, there is still a lack of widespread and convenient charging stations, especially in rural areas. This range anxiety can deter potential EV buyers. Although EV charging technology has improved, charging times are generally longer compared to refueling a conventional gasoline vehicle. This inconvenience can be a deterrent for consumers with busy schedules or long commutes. The installation and maintenance costs of EV charging equipment can be substantial. Businesses and homeowners may hesitate to invest in charging stations due to these upfront expenses, even with potential long-term savings on fuel. Urban residents often lack access to private parking spaces or garages where home charging can be easily installed. This limitation can discourage city dwellers from adopting electric vehicles.
Opportunity:
Many governments around the world are offering incentives to promote the adoption of electric vehicles. These incentives often include subsidies for EV charging infrastructure installation and favorable regulations, such as emission reduction targets and restrictions on internal combustion engine vehicles, which drive the demand for EV charging equipment. Growing concern about environmental issues, particularly air pollution and climate change, has led to increased interest in electric vehicles. As more consumers and businesses prioritize eco-friendly transportation options, the demand for EVs and their associated charging equipment rises. Improvements in battery technology have resulted in longer driving ranges and faster charging times for electric vehicles. As EVs become more practical and convenient for daily use, the need for efficient and widely available charging infrastructure grows. The growth of the EV market is not limited to one region; it is a global phenomenon. Expanding markets in countries with supportive policies and infrastructure development efforts create opportunities for EV charging equipment manufacturers and service providers.
About The Authors
| Jiquan Zhai - Lead Author |
| Email: zhaijiquan@qyresearch.com |
| Tel: 17319264309 |
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