EV Charger Service Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: Apr 2022

Pages: 142

SKU: IRTNTR73091

Snapshot

The EV charger service market share is expected to increase by USD 5.26 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 12.13%.

This EV charger service 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 EV charger service market segmentation by type (AC charging station, DC charging station, and wireless charging station) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The EV charger service market report also offers information on several market vendors, including ABB Ltd., Bayerische Motoren Werke AG, BP Plc, BYD Co. Ltd., ChargePoint Holdings Inc., Eaton Corp. Plc, EFACEC Power Solutions SGPS SA, ENGIE SA, Enphase Energy Inc., OPCONNECT, Robert Bosch GmbH, Schaffner Group, Schneider Electric SE, SemaConnect Inc., Shell plc, Siemens AG, Tesla Inc., VOLTA, Webasto SE, and BorgWarner Inc. among others.

What will the EV Charger Service Market Size be During the Forecast Period?

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EV Charger Service Market: Key Drivers, Trends, and Challenges

The government incentives and subsidies for EV charging infrastructure developments is notably driving the EV charger service market growth, although factors such as the low performance of the lithium-ion battery restricting the adoption of EVs 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 EV charger service industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key EV Charger Service Market Driver

The government incentives and subsidies for EV charging infrastructure developments is one of the key drivers supporting the EV charger service market growth. For instance, Helsinki, Finland's capital city, invested around $5.3 million over the last three years to build public charging stations, which has nearly tripled the number of such charging points in the country. Similarly, the Finnish government has recently announced a budget of more than $6 million to develop charging infrastructure during 2020-2021. Also, Denmark currently offers a tax exemption for commercial charging. This means that companies that supply EV charging on a commercial basis can receive an electricity tax rebate of around $0.15 per kilowatt-hour. Such government incentives are driving the growth of the electric vehicle charger service market.

Key EV Charger Service Market Trend

Increased installation of DC fast-charging stations is one of the key EV charger service market trends that is contributing to the market growth. Range anxiety is the main concern that is hindering the adoption of EVs. The major difference between EVs and ICE vehicles is the amount of time and effort required to refuel them. In the case of EV, even adding 80 miles of an average mile driven in a single charge can take a day if the EV is not charged through a 240-volt Level 2 charging station. The 240-volt Level 2 charging station can also take almost 8 hours to fully charge the EV, which is a serious concern restricting EV adoption. As a result, there is a growing need for DC fast-charging stations, which can reduce the range anxiety of the end consumers. This, in turn, will propel the market growth during the forecast period.

Key EV Charger Service Market Challenge

The low performance of the lithium-ion battery restricting the adoption of EVs is one of the factors hindering the EV charger service market growth. The lithium-ion battery has not been able to provide power to the vehicle for a longer duration and needs to be frequently recharged. This has made it important for the OEM manufacturers to improve the battery technology, and OEMs have been focusing on improving the methodologies used in manufacturing the battery. Moreover, the cost of the lithium-ion battery used in EVs is quite high, which leads to a significant rise in its purchase price. Thus, the low performance of the lithium-ion battery is restricting the adoption of EVs. Hence, the slow adoption of EVs will eventually lead to slow growth in the global EV charger service market during the forecast period.

This EV charger service 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 2022-2026.

Parent Market Analysis

Technavio categorizes the global electric vehicle (EV) charger service 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 EV charger service market during the forecast period.

Who are the Major EV charger Service Market Vendors?

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

This statistical study of the EV charger service market encompasses successful business strategies deployed by the key vendors. the EV charger service market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand image, distribution, and marketing to compete in the market.

Product Insights and News

ABB Ltd. - Under the electrification segment, the company manufactures and sells electrical products and solutions which are designed to provide safe, smart and sustainable electrical flow from the substation to the socket.
ABB Ltd. - The company offers AC destination, DC destination and DC fast under EV charging solutions.

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 EV charger service 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.

EV charger Service Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the EV charger service market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain 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.

Which are the Key Regions for EV charger Service Market?

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49% of the market's growth will originate from APAC during the forecast period. China and South Korea are the key markets for the EV charger service in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The increasing government initiatives to improve air quality will facilitate the EV charger service 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.

COVID Impact and Recovery Analysis

Global EV sales have become more difficult due to the COVID-19 outbreak. However, operations in various industries were gradually resumed with limited capacities in H2 2021 while maintaining social distancing norms. Moreover, the increasing need for the safety of individuals, in the long run, is expected to drive the demand for passenger vehicles, which, in turn, will drive the demand for electric vehicles. This will lead to growth in the regional market after the lifting of lockdowns during the forecast period.

What are the Revenue-generating Type Segments in the EV charger Service Market?

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The EV charger service market share growth by the AC charging station segment will be significant during the forecast period. AC Level 2 chargers use the same connector as AC Level 1 chargers. They are mostly installed in public charging stations and can charge the EV at a quicker rate compared with AC Level 1 chargers. AC Level 2 charging station replenishes nearly 12 to 20 miles of range during one hour of charging. Although AC chargers take a longer time to charge, they can extend the life of batteries and reduce the impact on the power grid. AC charging stations will hold the largest market share of the global EV charger service market during the forecast period. They are less expensive, require less modification, are easy, and are convenient to charge EV. These factors of AC charging stations will drive market growth during the forecast period.

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

EV charger Service Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 12.13%
Market growth 2022-2026	$ 5.26 billion
Market structure	Fragmented
YoY growth (%)	11.91
Regional analysis	APAC, Europe, North America, South America, and Middle East and Africa
Performing market contribution	APAC at 49%
Key consumer countries	US, China, South Korea, The Netherlands, and France
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., Bayerische Motoren Werke AG, BP Plc, BYD Co. Ltd., ChargePoint Holdings Inc., Eaton Corp. Plc, EFACEC Power Solutions SGPS SA, ENGIE SA, Enphase Energy Inc., OPCONNECT, Robert Bosch GmbH, Schaffner Group, Schneider Electric SE, SemaConnect Inc., Shell plc, Siemens AG, Tesla Inc., VOLTA, Webasto SE, and BorgWarner Inc.
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 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 EV charger Service Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive EV charger service market growth during the next five years
Precise estimation of the EV charger service market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the EV charger service industry across APAC, Europe, North America, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of EV charger service market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments
- Exhibit 24: Chart on Type - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type
- Exhibit 26: Chart on Comparison by Type
- Exhibit 27: Data Table on Comparison by Type

5.3 AC charging station - Market size and forecast 2021-2026
- Exhibit 28: Chart on AC charging station - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on AC charging station - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on AC charging station - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on AC charging station - Year-over-year growth 2021-2026 (%)

5.4 DC charging station - Market size and forecast 2021-2026
- Exhibit 32: Chart on DC charging station - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on DC charging station - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on DC charging station - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on DC charging station - Year-over-year growth 2021-2026 (%)

5.5 Wireless charging station - Market size and forecast 2021-2026
- Exhibit 36: Chart on Wireless charging station - Market size and forecast 2021-2026 ($ million)
- Exhibit 37: Data Table on Wireless charging station - Market size and forecast 2021-2026 ($ million)
- Exhibit 38: Chart on Wireless charging station - Year-over-year growth 2021-2026 (%)
- Exhibit 39: Data Table on Wireless charging station - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Type
- Exhibit 40: Market opportunity by Type ($ million)

6 Customer Landscape

6.1 Customer landscape overview
- Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation
- Exhibit 42: Chart on Market share by geography 2021-2026 (%)
- Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison
- Exhibit 44: Chart on Geographic comparison
- Exhibit 45: Data Table on Geographic comparison

7.3 APAC - Market size and forecast 2021-2026
- Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026
- Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 North America - Market size and forecast 2021-2026
- Exhibit 54: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026
- Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 China - Market size and forecast 2021-2026
- Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

7.9 US - Market size and forecast 2021-2026
- Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)

7.10 The Netherlands - Market size and forecast 2021-2026
- Exhibit 74: Chart on The Netherlands - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on The Netherlands - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on The Netherlands - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on The Netherlands - Year-over-year growth 2021-2026 (%)

7.11 South Korea - Market size and forecast 2021-2026
- Exhibit 78: Chart on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on South Korea - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on South Korea - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on South Korea - Year-over-year growth 2021-2026 (%)

7.12 France - Market size and forecast 2021-2026
- Exhibit 82: Chart on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 83: Data Table on France - Market size and forecast 2021-2026 ($ million)
- Exhibit 84: Chart on France - Year-over-year growth 2021-2026 (%)
- Exhibit 85: Data Table on France - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography
- Exhibit 86: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges
- Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape
- Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption
- Exhibit 89: Overview on factors of disruption

9.4 Industry risks
- Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered
- Exhibit 91: Vendors covered

10.2 Market positioning of vendors
- Exhibit 92: Matrix on vendor position and classification

10.3 ABB Ltd.
- Exhibit 93: ABB Ltd. - Overview
- Exhibit 94: ABB Ltd. - Business segments
- Exhibit 95: ABB Ltd. - Key news
- Exhibit 96: ABB Ltd. - Key offerings
- Exhibit 97: ABB Ltd. - Segment focus

10.4 Bayerische Motoren Werke AG
- Exhibit 98: Bayerische Motoren Werke AG - Overview
- Exhibit 99: Bayerische Motoren Werke AG - Business segments
- Exhibit 100: Bayerische Motoren Werke AG - Key news
- Exhibit 101: Bayerische Motoren Werke AG - Key offerings
- Exhibit 102: Bayerische Motoren Werke AG - Segment focus

10.5 BorgWarner Inc.
- Exhibit 103: BorgWarner Inc. - Overview
- Exhibit 104: BorgWarner Inc. - Business segments
- Exhibit 105: BorgWarner Inc. - Key news
- Exhibit 106: BorgWarner Inc. - Key offerings
- Exhibit 107: BorgWarner Inc. - Segment focus

10.6 BYD Co. Ltd.
- Exhibit 108: BYD Co. Ltd. - Overview
- Exhibit 109: BYD Co. Ltd. - Business segments
- Exhibit 110: BYD Co. Ltd. - Key news
- Exhibit 111: BYD Co. Ltd. - Key offerings
- Exhibit 112: BYD Co. Ltd. - Segment focus

10.7 ChargePoint Holdings Inc.
- Exhibit 113: ChargePoint Holdings Inc. - Overview
- Exhibit 114: ChargePoint Holdings Inc. - Product / Service
- Exhibit 115: ChargePoint Holdings Inc. - Key offerings

10.8 Eaton Corp. Plc
- Exhibit 116: Eaton Corp. Plc - Overview
- Exhibit 117: Eaton Corp. Plc - Business segments
- Exhibit 118: Eaton Corp. Plc - Key news
- Exhibit 119: Eaton Corp. Plc - Key offerings
- Exhibit 120: Eaton Corp. Plc - Segment focus

10.9 Robert Bosch GmbH
- Exhibit 121: Robert Bosch GmbH - Overview
- Exhibit 122: Robert Bosch GmbH - Business segments
- Exhibit 123: Robert Bosch GmbH - Key news
- Exhibit 124: Robert Bosch GmbH - Key offerings
- Exhibit 125: Robert Bosch GmbH - Segment focus

10.10 Schaffner Group
- Exhibit 126: Schaffner Group - Overview
- Exhibit 127: Schaffner Group - Key offerings

10.11 Shell plc
- Exhibit 128: Shell plc - Overview
- Exhibit 129: Shell plc - Business segments
- Exhibit 130: Shell plc - Key news
- Exhibit 131: Shell plc - Key offerings
- Exhibit 132: Shell plc - Segment focus

10.12 Tesla Inc.
- Exhibit 133: Tesla Inc. - Overview
- Exhibit 134: Tesla Inc. - Business segments
- Exhibit 135: Tesla Inc. - Key offerings
- Exhibit 136: Tesla Inc. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist
- Exhibit 137: Inclusions checklist
- Exhibit 138: Exclusions checklist

11.3 Currency conversion rates for US$
- Exhibit 139: Currency conversion rates for US$

11.4 Research methodology
- Exhibit 140: Research methodology
- Exhibit 141: Validation techniques employed for market sizing
- Exhibit 142: Information sources

11.5 List of abbreviations
- Exhibit 143: List of abbreviations

Methodology

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.

INFORMATION 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

DATA 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

REPORT 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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Key Questions Answered

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What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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