The global electric vehicle supply equipment (EVSE) market size was US$ 27.3 billion in 2021. The global electric vehicle supply equipment (EVSE) market is forecast to grow to US$ 299.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 28.2% during the forecast period from 2022 to 2030.
EVSE find application in charging electric vehicles across various locations, including homes, highways, parks, corporate offices, bus depots, hotels, etc.
Factors Influencing the Market
The rapidly growing electric vehicle industry will primarily drive the growth of the electric vehicle supply equipment (EVSE) market during the forecast period. Moreover, the growing transportation industry is expected to benefit the electric vehicle supply equipment (EVSE) market during the forecast period. Various public transport agencies, such as the Warsaw Public Transport Authority, Göteborg Energi, etc., are emphasizing developing efficient growth strategies. Thus, it will offer lucrative growth opportunities for the electric vehicle supply equipment (EVSE) market during the study period.
Rising funding by government agencies for the improvement of EV charging infrastructure will contribute to the growth of the electric vehicle supply equipment (EVSE) market during the forecast period. For instance, the Automotive Research Association of India unveiled its plan to install nearly 200 EV charging stations across the country.
Growing fuel prices and increasing regulations mandating the sales of electric vehicles will benefit the electric vehicle supply equipment (EVSE) market.
COVID-19 Impact Analysis
The COVID-19 pandemic has affected the demand for electric vehicles as governments initially halted travel activities. Moreover, the focus from transportation significantly shifted to the healthcare segment. As a result, the market witnessed reduced investments. Therefore, it hampered the growth of the electric vehicle supply equipment (EVSE) market.
Regional Analysis
The Asia-Pacific electric vehicle supply equipment (EVSE) market has significant potential in the coming years due to the growing automotive industry in the region. The presence of a large number of EV manufacturers is expected to benefit the electric vehicle supply equipment (EVSE) market during the forecast period. Apart from that, China holds the largest share in the EV industry, which will contribute to the electric vehicle supply equipment (EVSE) market growth.
Growing technological advancements and rising investments by government bodies will benefit the market. Apart from that, the governments in India, China, Japan, and South Korea have introduced various regulations aimed at increasing the use of electric vehicles. Thus, it will drive the scope of the electric vehicle supply equipment (EVSE) market during the study period.
Competitors in the Market
• Abb Ltd
• Chargepoint Holdings, Inc
• Delta Electronics, Inc
• BP Chargemaster
• Eaton Corporation Plc
• Leviton Manufacturing Co., Inc.
• Siemens AG
• Schneider Electric
• Tesla
• Webasto Group
• Other Prominent Players
Market Segmentation
The global electric vehicle supply equipment (EVSE) market segmentation focuses on Power, Product, Charging Station, Application, and Region.
By Power Type Outlook
• AC Power
• DC Power
By Product Outlook
• Portable Charger
• EV Charging Kiosk
• Onboard Charging Station
• Others
By Charging Station Type Outlook
• Normal Charging
• Super Charging
• Inductive Charging
By Application Outlook
• Commercial
o Destination Charging Station
o Highway Charging Station
o Bus Charging Station
o Fleet Charging Station
o Others
• Residential
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America
