According to the Market Statsville Group (MSG), the global electric vehicle charger market size is expected to grow around USD 70,512.4 million by 2033, at a CAGR of 23.1% from 2023 to 2033.

EVs are charged using chargers for electric vehicles (EVs), which include batteries and an electrical source to help charge the batteries. In terms of purchase and maintenance costs, electric automobiles are less expensive than conventional petrol/diesel cars. Electric vehicles reduce the amount of dangerous gas-containing carbon footprints released into the atmosphere. Due to factors like rising demand for zero-emission transportation and burgeoning EV sales internationally, the market for electric vehicle chargers will experience higher demand. In this market, the threat of new entrants will witness a positive outlook due to the development of technologies, including bi-directional charging, usage-based analytics, automated payment, smart charging with load control, portable charging stations, and ultra-fast charging.

COVID-19 Impact on the Global Electric Vehicle Charger Market

The COVID-19 pandemic had a marginal effect on the EV charging industry in early 2020 due to the lockdown. The need for EV chargers increased in 2021 as a result of the rising demand for EVs and related markets during the epidemic due to incentives from governments around the world. Leading EV charger manufacturers and network operators increased the quantity of their private and public EV chargers globally. For instance, as of December 2021, Shell had over 250,000 EV charging stations worldwide, a significant increase from less than 50,000 in 2020. As of December 2021, ABB also had around 400,000 EV charging stations, an increase of more than 100% from the previous year.

Scope of the Global Electric Vehicle Charger Market

The study categorizes the electric vehicle charger market based on vehicle type, charging type, and end-users at the regional and global levels.

By Vehicle Type Outlook (Sales, USD Billion, 2019-2033)

• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Vehicle (PHEV)
• Hybrid Electric Vehicle (HEV)    

By Charging Type Outlook (Sales, USD Billion, 2019-2033)

• On-board Charger
• Off-board Charger

By End-User Outlook (Sales, USD Billion, 2019-2033)

• Residential
• Commercial

By Region Outlook (Sales, USD Billion, 2019-2033)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

On-board Charger segment accounts for the largest market share during the forecast period by Charging Type

The on-board charger is accounted for the highest market share in 2022. Due to their ability to be used with easily available AC power, on-board chargers are becoming increasingly popular worldwide. Depending on how a user intends to use their electric vehicle, AC charging is more adaptable, accessible, and capable of meeting practically all of their needs. Metropolitan customers are adopting EVs significantly, and the widespread domination of on-board chargers is due to the simple access to AC power in urban locations.

Asia Pacific is projected to account for the largest CAGR, by Region

Based on the regions, the global electric vehicle charger market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Asia Pacific will dominate the global electric vehicle charger market over the forecast period. The market for EV chargers in the Asia Pacific region is primarily driven by the expansion of EV charging infrastructure and rising interest in electric vehicles. The market for EV chargers is expanding owing to the rapid use of EVs for public transportation in developing and densely populated nations like China and India. To encourage the use of electric vehicles in the nation, growing economies like China, South Korea, and Japan intend to increase the number of charging stations.

Key Market Players in the Global Electric Vehicle Charger Market

The global electric vehicle charger market is fiercely competitive, and major market participants are using a variety of tactics to get an advantage over rivals, including product development, alliances, partnerships, acquisitions, and growth. Most market businesses concentrate on growing operations globally, improving their capabilities, and cultivating solid partner relationships.

Major key players in the global electric vehicle charger market are:

• Siemens AG
• ABB Ltd.
• Robert Bosch GmbH
• Delphi Automotive
• Chroma ATE
• Aerovironment Inc.
• Silicon Laboratories
• Schaffner Holdings AG
• Chargemaster PLC
• POD Point

Key Issues Addressed

• What is the market size by various segmentation of the electric vehicle charger by region and its respective countries?
• What are the customer buying behavior, key takeaways, and Porter's 5 forces of the electric vehicle charger market?
• What are the key opportunities and trends for manufacturers involved in the electric vehicle charger supply chain?
• What are the fundamental dynamics (drivers, restraints, opportunities, and challenges) of the market?
• What and how regulations, schemes, patents, and policies are impacting the growth of the market?
• What are the upcoming technological solutions influencing market trends? How will existing companies adapt to the new change in technology?
• The market player positioning, top winning strategies by years, company product developments, and launches will be?
• How has COVID-19 impacted the demand and sales of electric vehicle charger in the global market? Also, the expected BPS drop or rise count of the market and market predicted recovery period.
• Detailed analysis of the competitors and their latest launch, and what are the prominent startups introduced in the target market? Also, detailed company profiling of 25+ leading and prominent companies in the market.