ChargePoint, Inc., ABB Ltd., Shell plc, Siemens AG, Schneider Electric SE, Tesla, Inc., Eaton Corporation, Webasto Group, Cyber Switching Patents LLC, and TGOOD Global Ltd. are the key players in the global market for electric vehicle charging stations.
As per the analysis by Expert Market Research, the global electric vehicle charging station market reached an approximate value of more than USD 5 billion in 2021. Aided by the growing demand for electric vehicles, the market is projected to grow in the forecast period of 2022-2027 at a CAGR of 42.5%, reaching a value of over USD 41.9 billion by 2027.
The adoption of electric vehicles is growing due to the increase in carbon emissions and other dangerous pollutants from transportation. As a result, infrastructure for electric vehicle charging is becoming increasingly necessary in both commercial and residential settings. Subscription models and increasing cooperation from manufacturers for charging infrastructure are anticipated to support market growth. The electric vehicle charging station market will continue to develop as people become more aware of the advantages of sustainable fuel sources.
Residential buildings close to transportation facilities are more likely to be exposed to automobile emissions, which are linked to heart and respiratory conditions including asthma. Since these conditions are considered to be long-term chronic illnesses, the popularity of low-emission vehicles and electric car charging stations is expected to increase over the forecast period. The electric vehicle charging station market is expanding due to the rising demand for electrified vehicles spurred on by rising disposable incomes, rapid urbanisation, expanding electrical and electronic technology, and the booming transportation sector in emerging nations.
Additionally, it is anticipated that the market would grow during the forecast period due to the increased financing by various governments to speed up the development of EV charging stations. However, the high installation costs of electric vehicle charging stations are anticipated to operate as a market restraint.
In the Asia Pacific, growing support from various governments to promote the use of electric vehicles in the face of rising pollution levels is increasing the adoption of electric vehicles for personal and commercial use. This is further expanding the market penetration of major EV manufacturers in developing countries like China and India, driving the growth of the Asia Pacific electric vehicle charging station market.
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|Headquarters:||California, United States|
An open network of electric vehicle charging stations is run by ChargePoint, Inc. The company offers cloud-based service options in the form of yearly subscriptions for the supplying of tools, data, payment processing, and driver assistance. ChargePoint provides services to businesses, utilities, governments, malls, and parking service providers all around the world. To help enterprises manage large EV deployments, ChargePoint offers networked charging stations together with yearly SaaS subscriptions with capabilities for car scheduling and fuelling optimisation.
ABB is a top global technology corporation that strives for a more prosperous and sustainable future by driving industrial as well as social change. ABB pushes technological boundaries to raise performance to new heights by integrating software with its portfolio of automation, electrification, robotics, and motion solutions.
|Headquarters:||London, United Kingdom|
Formerly known as Royal Dutch Shell Plc, Shell plc (Shell) is an integrated oil and gas business. The corporation searches for and produces oil and gas, with widespread sourcing from traditional fields, coal formations, tight rock, and shale. By 2025, Shell aims to have over 500,000 charging stations operating. They currently manage around 90,000 electric car charging stations in residences, workplaces, Shell retail locations, and other locations. More than 300,000 extra charge points are currently accessible through Shell's roaming networks.
Industry, infrastructure, transportation, and healthcare are the main focus areas for Siemens, a technology corporation. The company develops technology with the goal of providing clients with genuine value, whether it be through more resource-efficient industries, cleaner and more comfortable transportation, robust supply chains, cutting-edge healthcare, or smarter buildings and grids. Electrification, automation, and digitalisation are the company's main areas of concentration. Additionally, Siemens offers engineering services in the fields of automation and control, electricity, transportation, and medical diagnostics.
Energy management and automation business Schneider Electric SE (Schneider Electric), originally known as Schneider Electric SA, creates associated technologies and solutions for power distribution. It enables integrated corporate management for industries, homes, buildings, infrastructure, and data centres by integrating industry-leading process and energy technologies, across the entire lifespan of products, software, controls, and services.
|Headquarters:||Texas, United States|
Tesla is a clean energy and electric vehicle firm run by Elon Musk. Tesla, Inc. is an American company that focuses on the production of electric cars, solar panels, and batteries for both personal and commercial use. Tesle aims to install 20,000 charging stations across the United States.
Eaton is an industry pioneer in intelligent power management and is dedicated to improving people's quality of life and protecting the environment for all. The company is accelerating the transition of the planet to renewable energy and aiding in the resolution of the most pressing power management issues by leveraging the global growth trends of electrification and digitalisation. The business operates across a number of segments, including automobile, aerospace, electrical goods, electrical systems and services, and most recently, eMobility.
The Webasto Group is one of the top 100 global automotive suppliers and a global partner in innovative technologies for the mobility sector. The company's primary business, which consists of a wide variety of roofs and heating and cooling systems for different types of vehicles (including boats), is constantly evolving, for instance with an eye toward autonomous driving. Additionally, the Group has been steadily growing its selection of electromobility solutions since 2016. Batteries, charging systems, electric heating systems, and extra services all fall under this category.
|Headquarters:||California, United States|
Cyber Switching, which was established in 1994, continues to develop cutting-edge power distribution methods and technologies. With a strong emphasis on cutting-edge power solutions, the company has developed a number of product lines that provide fresh and intriguing ways to manage energy. Cyber Switching has created some of the most dependable commercial EV charging stations in the market after creating a novel way to battle the impending fear of maxing out the limits of power grid.
|Headquarters:||Hong Kong, China|
TGOOD was established in 2004 by an innovative group of German and Chinese engineers. Since then, it has developed into the world's largest manufacturer of prefabricated substations and EV charging infrastructure. All of the E-Houses and electrical parts are produced internally by the company.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.