EV charging as a Service Market is segmented by Charging Station (AC Charging Station, DC Charging Station, and Inductive Charging Station), by Connector Type (Chademo, CCS, and Others), by Location (Public, and Private), by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa, Rest of World) and EV Charging as a Service Market companies (ABB Ltd, Aerovironment, Inc., Elektromotive Limited, General Electric Company, Schneider Electric SE, Delphi Automotive PLC., Eaton Corporation PLC., Siemens AG, Tesla Motors Inc., Chargepoint Inc., and Leviton Manufacturing Co., Inc.)
The EV Charging as a Service Market is forecast to reach USD 28,161.2 Million by 2032, growing at a CAGR of 21.4 % during the forecast period.
Charging services for electric vehicles (EVs) are a risk-free option available for consumers. Despite the fact that the EV chargers are available for personal use, the market for EV Charging services is at its peak owing to the convenience these services provide.
• Fast charging services are anticipated to grow tremendously during the forecast period because of the rising demand for EV charging as a service at commercial places such as shopping malls, clubs, parks, etc. In addition to fast charging services, slow charging is also expected to gain popularity, but fast charging services have a broader user base.
• Developed and developing economies are increasingly offering convenient EV charging services to consumers. The rapidly evolving electric vehicle market drives innovation in EV technology and infrastructure. Multiplier effects, such as reduced fuel consumption and emissions, have a significant impact on electric vehicle demand worldwide. Consequently, electric vehicle charging as a service market will also experience growth. The government is supporting EV charging as service providers for developing charging services in parking lots
The ongoing technological advancements in electric vehicle charging infrastructure is going to fuel the EV Charging as a service market revenue in the years to come
V2G (vehicle-to-grid) EV charging is a system in which plug-in EVs and the grid exchange energy bi-directionally. With V2G, EVs can store and discharge unused energy back to the grid. Electrical components can be enhanced this way and add value to EV owners. As a result of this concept, electric vehicles have become one of the most preferred modes of transportation. Consequently, the entire charging station market plays a critical role in enabling the electric vehicle to charge from the grid.
China to contribute significantly to the EV charging as a service market by the end of 2032.
Increasingly populous countries such as China invest in battery swapping technology to make EV charging points available widely. A battery swap takes less than five minutes, instead of looking for a nearby EV charging service station. EV drivers can save time by charging their batteries quickly with ultrafast charging or supercharging EV Services. Drivers of electric vehicles can now charge on the go without having to wait in line. Thus, the increasing cab services are further anticipated to augment the EV Charging as a service market share.
Portable chargers to be the fastest-growing segment during the forecast period.
EV charging services find high demand in offices, homes, malls, and hotels. Electric vehicle charging services available at any such place may be inconvenient and time-consuming. Tesla, Blink Charging, SparkCharging, and ClipperCreek have all developed portable chargers that are anticipated to affect the market growth in coming years. Portable chargers are convenient, and they eliminate the need to install a stationary charging station and its associated infrastructure. The emergency portable chargers can be recharged after reaching a charging destination, and the chargers can be used to charge EVs when needed. Thus, EV users are anticipated to become less dependent on EV charging service providers in the future.
Market dominance is attributed to the active participation of electric vehicle charging service providing companies
• An agreement between ABB and Bornes Québec was signed in May 2021 in order to enhance the availability of fast and convenient charging services for electric vehicles in Québec and to accelerate Canadas transition to sustainable transportation. ABB introduced the fastest charging services for electric vehicles in September 2020 with Terra 360.
• Panasonic announced the launch of EV charging servie stations, swap stations, board charges, and more in May 2019. Earlier this year, Ather Energy launched its charging infrastructure services in Bangalore.
|Forecast Year (2032) Market Size||$8161.4 Million|
|Forecast Period CAGR||5.4%|
Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19;Companies’ Strategic Developments; List of Mega Projects; Major Contracts Won by Key Players; End User Capacity & Workforce Analysis; Company Profiling
|Market Size by Segments||By Charging Station, By Connector Type, By Location|
The Asia-Pacific EV charging as a service market is expected to be the fastest-growing market in the forecast period.
• Several initiatives have been taken by governments of emerging economies to attract large OEMs supporting electric vehicle charging as a service market. Several OEMs have partnered with charging network providers for EV charging service stations to provide EV drivers with free charging. By providing subsidized electricity rates, governments are also encouraging private companies to implement public charging points. This regional market has attracted new start-ups and established top domestic companies. Star Charge, for instance, has grown into one of the leading EV Charging service providers in China. Jio in India also plans to work with BP to speed up EV charging in the country.
• The top leading EV Charging service providers in this industry include ABB Ltd, Aerovironment, Inc., Elektromotive Limited, General Electric Company, Schneider Electric SE, Delphi Automotive PLC., Eaton Corporation PLC., Siemens AG, Tesla Motors Inc., Chargepoint Inc., and Leviton Manufacturing Co., Inc. Large energy companies such as Shells purchase of Dutch charging company NewMotion, are investing heavily in the EV charging service infrastructure players. EVgo Services LLC is set to serve as its preferred partner for electric vehicle charging services in the years to come.
Years considered for this report
• Base Year: 2021
• Forecast Period: 2022-2032
EV Charging as a Service Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2032)
• Data breakdown for application Industries (2022 – 2032)
• Integration and collaboration analysis of companies
• Capacity analysis with application sector breakdown
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategies adopted by emerging companies
Industry Segmentation and Revenue Breakdown
Charging Station Analysis (Revenue, USD Million, 2022 - 2032)
• AC Charging Station
• DC Charging Station
• Inductive Charging Station
Connector Type Analysis (Revenue, USD Million, 2022 - 2032)
Location Analysis (Revenue, USD Million, 2022 - 2032)
Country Analysis (Revenue, USD Million, 2022 – 2032)
• North America
• United States
• United Kingdom
• Rest of the Europe
• South Korea
• Rest of the APAC
• Rest of the World
• Middle East
• Rest of the World
EV charging as a Service Market companies:
• ABB Ltd
• Aerovironment, Inc.
• Elektromotive Limited
• General Electric Company
• Schneider Electric SE
• Delphi Automotive PLC.
• Eaton Corporation PLC.
• Siemens AG
• Tesla Motors Inc.
• Chargepoint Inc.
• Leviton Manufacturing Co., Inc.
Available Versions of EV Charging as a Service Market Report: -
United States EV Charging as a Service Market Research Report
Europe EV Charging as a Service Market Research Report
Asia Pacific EV Charging as a Service Market Research Report
India EV Charging as a Service Market Research Report
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