The global Charging Piles market is segmented by Product (Slow AC, Fast AC, Fast DC), by Application (Residential charging, Public charging, Private charging), by Region (The United States, Canada, Mexico, Germany, France, UK, Russia, Italy, China, Japan, Korea, India, Brazil, Argentina, Colombia, Saudi Arabia, UAE, Egypt, Nigeria, and South Africa) and Global Piles market companies (Webasto, Schneider Electric, Leviton, Pod Point, Clipper Creek, Auto Electric Power Plant, Eaton, Chargepoint, ABB, Xuji Group)
The global Charging Pile market is valued at the U.S. $1.6 billion in 2021 and is expected to reach $9.2 billion by the end of 2032, growing at a CAGR of 20.8% during 2022-2032.
Charging piles are used to charge various types of electric cars according to different voltage levels. The input end of the charging piles is directly connected to the AC power grid, and the output end is equipped with charging plugs for charging electric cars. Charging piles generally provide two charging modes: regular charging and quick charging. People can swipe a specific charging card on the human-computer interaction interface provided by the charging pile to carry out corresponding operations such as charging mode, charging time, cost data printing, etc. The display screen of the charging pile can display the charging amount, cost, charging time, and other data. It is easy to use and saves the environment from emissions.
Property owners have shown keen interest in setting up EV charging piles in their buildings because it attracts and retains tenants. Similarly, setting up of EV charging piles outside office premises helps companies attract and retain employees. EV charging piles provide advertising opportunities to companies by promoting their products. The automatic payment system and taking control of your electricity consumption have helped businesses maintain transparency and manage the system efficiently.
Covid 19 impact analysis:
There are more than 11 million EVs on the road worldwide. Though the global automotive industry suffered a lot due to COVID-19, global EV registration increased by 41% in 2020. International Energy Agency data states that the global EV sales volume is expected to be 15 million units to 20 million units by 2025. According to International Energy Agency data, the number of EV charging infrastructures worldwide is 9.5 million units, which includes 2.5 million units of public ones, they predict that the global EV charging infrastructures will grow approximately to 50 million units, including 10 million units of public.
EV Charging Piles Market Growth Factors:
After the pandemic, the demand for Electric vehicles has skyrocketed and the industry is expected to witness rapid growth in recent years leading to a large-scale increase in demand for the charging pile market. The increasing adoption of consumers from conventional cars to EVs and initiatives from major key players and companies in deploying EV charging infrastructure are the major growth drivers of this market.
Policies passed regarding constraining the use of fossil fuel-powered vehicles largely supports the flourishing of this market. Governments globally are also investing in electric mobility not only to conserve energy but also to raise environmental awareness and concerns. This caused the demand for electronic vehicle infrastructure making EV charging stations mandatory.
EV Charging Piles Hindering Factors:
The high cost of electric vehicles acts as a major disadvantage for the growth of the market. The charging piles industry is directly dependent on the electric vehicle market, which negatively impacts the charging pile market share. In addition to this, a large amount of expenditure is needed for the proper maintenance of these charging piles. This acts as a hindrance as people reconsider normal vehicles that are less costly over these high-maintenance electric vehicles. This restrains the market growth.
Current Shift in Trends:
The charging pile market has seen wild growth and expansion after COVID-19 majorly due to its huge application in the automobile and vehicle industries. There are many innovations and developments that are seen. The introduction of high-end intelligent EV brands is one such discovery in the market that is considered as the latest trend. The new kinds of piles that are being used are much smarter and more convenient compared to the other ones. These are technologically advanced and result in consumption upgrading in the automobile industry. Another advantage of using intelligent charging piles is that their charging quality is very superior. They also have better safety features. These are considered the latest innovations in the market.
Chinas charging pile ownership ranks 1st in the world. Chinas EV ownership is 4.92 million units, and the number of charging piles amounts to 1.68 million units. The number of private and commercial charging piles hit 874,700 units and 806,000 units, respectively. Chinas EV ownership is expected to amount to 17.82 million units by 2025 and the number of charging piles will be 9.39 million units. Where the number of private and commercial charging piles will be 6.18 million units and 3.21 million units.
The Biden-Harris Administration has brought forward new steps to meet America’s goal to make the first-ever national network of 500,000 electric vehicle chargers all along the country. The government intends to make charging electric vehicles convenient, reliable, and more affordable, even when driving long distances. The government wants to bring forward a common standard to ensure everyone can use the network as all EV chargers may not work for all cars, or may lack common payment methods, no matter which companies electric vehicle is driven or which state they stay in. It targets having a 50% share of all vehicles sold by 2030 to be fully electric, but this would require a huge EV charging infrastructure to be built.
Product Launch: A Key Strategy for Competitors
The charging piles producing companies are continuously working towards new product developments or upgrading their existing product portfolio. Several companies in the market are using acquisition strategies to strengthen their market position, in addition, partnerships and collaborations are among the major strategies adopted. In 2016, ChargePoint, Inc, one of the leading charging piles producing companies, collaborated with BMW of North America, LLC and Volkswagen of America, for putting up100 DC fast-chargers across the east and west coasts of the U.S. They have been undertaking various strategic initiatives to expand their presence in Europe. In 2017, Chargemaster Plc acquired Electromotive Limited, an infrastructure supplier and by this acquisition, they tried to expand their existing portfolio and customer services.
XPeng launched their 2nd Generation of household electric vehicle charging piles in January 2022. This new pile supports a 4G remote control, OTA upgrades, and many other new functions. The 4G network data transmission based on Bluetooth data helps the users to see the real-time operating status of the charging pile and perform various remote operations through the mobile app. The OTA upgrade functions can automatically receive and download firmware upgrade packages from the background, continuously optimize firmware features, and meet user needs in real-time through remote dynamic updates. The working temperature of the new EV charging pile ranges from -40ºC to 60ºC and can be used in various extreme weather scenarios. Zeekr launched a new 11kW smart home charging pile on 16th August 2022. The new pile has higher output power, faster-charging speed, and higher efficiency. Zeekr 11kW piles have many intelligent features such as plug-and-charge, remote upgrades, free control, non-inductive starts, and many more. Each charging pile can add five sharing accounts and can be shared by several consumers. The protection level is IP55, which effectively prevents dust and rain.
Regional Analysis for EV Charging Pile Market
● North America: The United States, Canada, and Mexico
● Europe: Germany, France, Spain, UK, Russia, and Italy
● Asia-Pacific: China, Japan, Korea, India, and Southeast Asia
● South America: Brazil, Argentina, Colombia, etc.
● The Middle East and Africa: Saudi Arabia, UAE, Egypt, Nigeria, and South Africa
The major reason for the development of the EV market in these regions is increasing technological advancements. Many new inventions are being seen in the charging piles, with China being on the top. The presence of key companies and huge investments are other factors promoting increased market share.
|Forecast Year (2032) Market Value||USD 9.2 Billion|
|Forecast Period CAGR||20.8|
|Report Coverage||Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Various regulations imposed by the governments on the consumption of Charging Pile; Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the Charging Pile; Company Profiling|
Segments Covered By Type, By Application
Years considered for this report
• Historical Years: 2019-2021
• Base Year: 2021
• Forecast Period: 2022-2032
Global Charging Piles Market Research Report Analysis Highlights
• Insight of both demand and supply of the industry.
• The impact of COVID-19 on the industry
• The driving or restraining factor
• The regional insights
• Segmentation analysis
• Companies strategic developments
• Various regulations imposed by the governments on the consumption of Charging Pile
• Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the Charging Pile
• Company Profiling.
EV Charging Piles Market Segmentation
Product Type Analysis (Revenue, USD Million, 2022 - 2032)
• Slow AC
• Fast AC
• Fast DC
Application Type Analysis (Revenue, USD Million, 2022 - 2032)
• Residential charging
• Public charging
• Private charging
Key Industry Players
• Schneider Electric
• Pod Point
• Clipper Creek
• Auto Electric Power Plant
• Xuji Group
Available Versions of EV Charging Piles Market Report: -
United States EV Charging Piles Market Research Report
Europe Sports EV Charging Piles Market Research Report
Asia Pacific EV Charging Piles Market Research Report
India EV Charging Piles Market Research Report
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