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Electric Vehicle Charger Market by End-user, Type, and Geography - Forecast and Analysis 2021-2025

  • Published: Oct 2021
  • Pages: 120
  • SKU: IRTNTR44786
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The electric vehicle charger market share is expected to increase by 26825.74 thousand units from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 28.35%.

This electric vehicle charger market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers electric vehicle charger market segmentation by end-user (residential and commercial), type (slow charger and fast charger), and geography (APAC, North America, Europe, South America, and MEA). The electric vehicle charger market report also offers information on several market vendors, including ABB Ltd., AddEnergie Technologies Inc., AeroVironment Inc., Chargemaster Ltd., ChargePoint Inc., Electricite de France SA, Evatran Group Inc., Leviton Manufacturing Co. Inc., Robert Bosch GmbH, and Webasto SE among others.

What will the Electric Vehicle Charger Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Electric Vehicle Charger Market Size for the Forecast Period and Other Important Statistics

 

Electric Vehicle Charger Market: Key Drivers, Trends, and Challenges

The government incentives and subsidies for EV charging infrastructure developments are notably driving the electric vehicle charger market growth, although factors such as high cost of installation of EV chargers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electric vehicle charger industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Electric Vehicle Charger Market Driver

One of the key factors driving growth in the electric vehicle charger market is the government incentives and subsidies for EV charging infrastructure developments. Charging locations are categorized as home and on-road based on their location and as private and public based on infrastructure providers. OEMs offer home-based charging solutions with EV purchases; however, the challenge remains with the availability of on-road private and public charging facilities. The adoption rate of EVs in a region is directly proportional to the availability of charging infrastructure on roads. Attractive incentives for EV chargers and the purchase of EVs are expected to boost the installations of EV chargers and attract OEMs and private organizations to invest in the development of the infrastructure to increase the sales of EVs. Such government incentives are driving the growth of the electric vehicle charger market.

Key Electric Vehicle Charger Market Trend

 

The open and closed platform approaches by EV charger solution providers is another factor supporting the electric vehicle charger market share growth. The EV charger market is becoming more dynamic owing to the entry of many regional and local players, vibrant partnerships, and demand from end-users. As the number of EV charger providers is increasing in the market, their business approach toward charging stations is following the same trend as that of other technology-related markets, such as operating systems and smartphones. Various top players in this market believe that within a few years, the market will close down the vibrancy to establish market shares and dominancy. Therefore, we are witnessing an Apple and Android or Windows and Linux approach among the EV charging solutions providers.

Key Electric Vehicle Charger Market Challenge

The high cost of installation of EV chargers will be a major challenge for the electric vehicle charger market during the forecast period. AC level 1 residential charger unit and installation can cost $250-$1,500 on an average, based on the low cost to the high-cost system. AC level 2 residential charger unit and installation can cost an average of $600-$2,500, while AC level 2 commercial charger can cost up to $6,000 depending on the number of connectors and outlets. Among all EV chargers, DC fast chargers are the costliest; these are mainly installed by charging station providers with funding from governments and vehicle OEMs. Although various countries are supporting funding and tax rebates for the installation of private and public EV chargers, gradual phasing out of these funding from 2016-2020 will impact the EV charger market negatively. Without major support through funding and investments from the government and other companies, it is hard for the EV charger market to expand its network, especially for AC level 2 and fast charger segments.

This electric vehicle charger market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global electric vehicle charger market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the electric vehicle charger market during the forecast period.

Who are the Major Electric Vehicle Charger Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • ABB Ltd.
  • AddEnergie Technologies Inc.
  • AeroVironment Inc.
  • Chargemaster Ltd.
  • ChargePoint Inc.
  • Electricite de France SA
  • Evatran Group Inc.
  • Leviton Manufacturing Co. Inc.
  • Robert Bosch GmbH
  • Webasto SE

 

This statistical study of the electric vehicle charger market encompasses successful business strategies deployed by the key vendors. The electric vehicle charger market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • ABB Ltd. - The company offers a total EV charging solution from compact, high-quality AC wall boxes,  reliable DC fast-charging stations with robust connectivity.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electric vehicle charger market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Electric Vehicle Charger Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the electric vehicle charger market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the automotive components and accessories market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Electric Vehicle Charger Market?

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44% of the market’s growth will originate from APAC during the forecast period. China is the key market for electric vehicle chargers in APAC. Market growth in this region will be faster than the growth of the market in the South American and MEA regions.

The high number of domestic automakers will facilitate the electric vehicle charger market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating End-user Segments in the Electric Vehicle Charger Market?

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The electric vehicle charger market share growth by the residential segment will be significant during the forecast period. The residential segment of the global EV charger market accounted for the highest volume and had attracted many new entrants in the market. Many models of EV chargers are currently available as the demand for residential overnight charging is increasing. This is also leading to the entry of new vendors into the market and an increase in the availability of various EV chargers. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the electric vehicle charger market size and actionable market insights on post COVID-19 impact on each segment.

 

Electric Vehicle Charger Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 28.35%

Market growth 2021-2025

26825.74 th units

Market structure

Fragmented

YoY growth (%)

24.79

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 44%

Key consumer countries

China, US, Germany, France, and The Netherlands

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

ABB Ltd., AddEnergie Technologies Inc., AeroVironment Inc., Chargemaster Ltd., ChargePoint Inc., Electricite de France SA, Evatran Group Inc., Leviton Manufacturing Co. Inc., Robert Bosch GmbH, and Webasto SE

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Electric Vehicle Charger Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive electric vehicle charger market growth during the next five years
  • Precise estimation of the electric vehicle charger market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the electric vehicle charger industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of electric vehicle charger market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 - 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Residential - Market size and forecast 2020-2025
  • Commercial - Market size and forecast 2020-2025
  • Market opportunity by End-user

Market Segmentation by Type

  • Market segments
  • Comparison by Type
  • Slow charger - Market size and forecast 2020-2025
  • Fast charger - Market size and forecast 2020-2025
  • Market opportunity by Type

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2020-2025
  • North America - Market size and forecast 2020-2025
  • Europe - Market size and forecast 2020-2025
  • South America - Market size and forecast 2020-2025
  • MEA - Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ABB Ltd.
  • AddEnergie Technologies Inc.
  • AeroVironment Inc.
  • Chargemaster Ltd.
  • ChargePoint Inc.
  • Electricite de France SA
  • Evatran Group Inc.
  • Leviton Manufacturing Co. Inc.
  • Robert Bosch GmbH
  • Webasto SE

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The electric vehicle charger market growth will increase by $26825.74 thousand units during 2021-2025.
The electric vehicle charger market is expected to grow at a CAGR of 28.35% during 2021-2025.
Technavio has segmented the electric vehicle charger market by end user (Residential and Commercial) ,type (Slow charger and Fast charger) , and geographic (APAC, North America, Europe, South America, and MEA).
ABB Ltd., AddEnergie Technologies Inc., AeroVironment Inc., Chargemaster Ltd., ChargePoint Inc., Electricite de France SA, Evatran Group Inc., Leviton Manufacturing Co. Inc., Robert Bosch GmbH, Webasto SE are a few of the key vendors in the electric vehicle charger market.
APAC will register the highest growth rate of 43.60% among the other regions. Therefore, the electric vehicle charger market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Germany
  • France
  • The Netherlands
The key factors driving the electric vehicle charger market growth are:
  • Government incentives and subsidies for EV charging infrastructure developments
  • Open and closed platform approaches by EV charger solution providers
The electric vehicle charger market vendors should focus on grabbing business opportunities from the residential segment as it accounted for the largest market share in the base year.
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