Overview and Scope
The electric car charger refers to equipment that supplies power for an electric car. The charging point for electric vehicles is a device that links an electric vehicle (EV) to a source of electricity for electric cars, community electric vehicles, and plug-in hybrids.
Sizing and Forecast
The electric car charger market size has grown exponentially in recent years. It will grow from <b>$5.54 billion in 2023 to $7.56 billion in 2024 at a compound annual growth rate (CAGR) of 36.3%. </b> The growth in the historic period can be attributed to electric vehicle (ev) adoption and sales growth, government incentives and regulations, environmental concerns and emissions reduction goals, consumer demand for convenient charging, and automotive industry investment in evs
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The electric car charger market size is expected to see exponential growth in the next few years. It will grow to <b>$23.62 billion in 2028 at a compound annual growth rate (CAGR) of 33.0%. </b> The growth in the forecast period can be attributed to expansion of ev charging networks, standardization of charging connectors, international market growth, global ev adoption, and growing public and private charging stations. Major trends in the forecast period include fast and ultra-fast charging solutions, wireless charging technologies, ev battery advancements, smart grid integration and demand response, and autonomous and self-parking charging stations.
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Segmentation & Regional Insights
The electric car charger market covered in this report is segmented –
1) By Type: Slow AC, Fast AC, Fast DC
2) By Charging Type: On-board Charger, Off-board Charger
3) By Application: Home, Office, Commercial
<b>Asia-Pacific</b> was the largest region in the electric car chargers market in 2023. The regions covered in the electric car charger market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increasing demand for electric vehicles owing to growing environmental awareness is expected to drive the growth of the electric car chargers market over the coming years. The world is moving towards electrified transportation to reduce the emissions of pollution from non-renewable fossil fuel vehicles and to offer transport as a substitute for costly fuel. For instance, according to May 2022 published, Global EV Outlook 2022 report, electric vehicle (EV) sales had doubled from the previous year in 2021, reaching a new high of 6.6 million. Additionally, the sales of electric car vehicles worldwide in 2021 have reached 6600000 units from 2980000 units. Therefore, the increasing sales of electric vehicles drive the growth of the electric car chargers market.
Key Industry Players
Major companies operating in the electric car charger market include <b> Leviton Manufacturing Co. Inc, ABB Group, Siemens AG, Schneider Electric Corp, AeroVironment Inc., Blink Charging Co., Bosch Automotive Service Solutions Inc, ChargePoint Inc., Delphi Automotive PLC., Eaton Corporation, Elektromotive Ltd., Evatran LLC, General Electric Company, Hubbell Device-Kellems, Legrand India Pvt. Ltd., Tesla Motors Inc., TurboDock, Alfen N.V., ClipperCreek Inc., Delta Electronics Inc., Efacec Electric Mobility S.A., EV Safe Charge Inc., EV Solutions Inc., EVBox Group, EVgo Services LLC, EVoCharge, EVSE LLC, JuiceBar EV Inc., NewMotion B.V., Tritium Pty Ltd., Wallbox Chargers S.L., Webasto Charging Systems Inc. </b>
The electric car charger market report table of contents includes:
1. Executive Summary
2. Electric Car Charger Market Characteristics
3. Electric Car Charger Market Trends And Strategies
4. Electric Car Charger Market – Macro Economic Scenario
5. Global Electric Car Charger Market Size and Growth
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31. Global Electric Car Charger Market Competitive Benchmarking
32. Global Electric Car Charger Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Electric Car Charger Market
34. Electric Car Charger Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Leviton Manufacturing Co. Inc
ABB Group, Siemens AG,
Schneider Electric Corp
AeroVironment Inc
Blink Charging Co
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