The growth of the electric car charger market is driven by the global rise in electric vehicle adoption and advancements in battery technology

AUSTIN, TX, UNITED STATES, January 30, 2025 /EINPresswire.com/ -- Market Size & Industry Insights

According to the SNS Insider Report,“The Electric Car Charger Market was valued at USD 5.39 billion in 2023 and is expected to grow to USD 82.02 billion by 2032, at a CAGR of 35.3% over the forecast period of 2024-2032.”

Global EV Growth and Strict Emissions Regulations Drive Surge in Electric Car Charger Market

The electric car charger market is gaining traction driven by the global proliferation of electric vehicles (EVs). Governments are bringing out strict emissions regulations and providing tax credits and subsidies to stimulate demand for EVs. This has created a booming need for supply infrastructure, including home chargers, public charging stations, and fast-charging networks. With battery technology constantly improving EV range and time to charge, the pressure for efficient and widespread charging only grows, writes Michael Kazin. Moreover, the increasing investments made by automobile manufacturers, energy companies, and technology firms in charging infrastructure further proliferate the market growth.

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SWOT Analysis of Key Players as follows:
- Leviton Manufacturing Co. Inc.
- ABB Ltd.
- Siemens AG
- Schneider Electric Corp
- AeroVironment Inc.
- Eaton
- Evatran LLC
- Tesla Motors Inc.
- Delphi Automotive Plc.
- Bosch Automotive Service Solutions Inc.
- Elektromotive Ltd.
- Hubbell Device-Kellems
- Legrand
- TurboDock
- GE
- Chargepoint
- Blink

Smart Charging Solutions Wireless Technology and Ultra-Fast DC Chargers Drive EV Market Growth and Sustainability

Advancements such as smart charging solutions, wireless charging technology, and the implementation of vehicle-to-grid (V2G) features have forever changed the domain. Smart chargers help to allocate energy more efficiently by regulating charging by the electricity demand and supply. Charging stations powered by renewable energy are also being rolled out as well, helping to meet sustainable energy goals. Plus, electric automotive convenience is primarily driven by the expansion of ultra-quick DC chargers that scale up EVs in minutes instead of hours. Market growth is further encouraged by the increasing demand for good and dependable EV charging infrastructure due to urbanization and long-distance travel.

BEVs Dominate EV Market in 2023 While Home Charging Leads and Commercial Charging Set for Explosive Growth

By Vehicle Type: In 2023, the market share was led by Battery Electric Vehicles. The growth of this segment is dependent on various factors, including government incentives, and technological advancements in batteries and electric vehicle (EV) charging infrastructure, making the segment likely to record the fastest CAGR from 2024 to 2032. Automakers increasingly view battery electric vehicles BEVs as the future of sustainable personal mobility and are prioritizing the development of all-electric models in response to tightening emissions regulations and growing consumer expectations for zero-emission vehicles.

By Application: Home charging accounted for most of the EV charging market in 2023, as most EV owners prefer not to charge anywhere else. As EVs gained traction, residential chargers appeared as the number one way to top-up right at home, overnight, without driving to public stations.

Commercial charging will witness the fastest growth during the period from 2024 to 2032, as public charging infrastructure gears up. Commercial charging stations, particularly fast-charging networks, will play an essential role in facilitating urban mobility and enabling long-distance travel as the number of EVs on the road continues to grow, stimulating fast adoption.

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KEY MARKET SEGMENTS:

By Type
Slow AC
Fast AC
Fast DC

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

By Charging Infrastructure Type
CCS
CHADEMO
Normal Charge
Tesla Super Charger
Type 2 (IEC 621196)

By Application
Home
Office
Commercial

Asia-Pacific Leads EV Charging Market in 2023 While North America Set for Explosive Growth Ahead

In 2023, the Asia-Pacific region continued to hold power over the electric vehicle (EV) charging market, owing to the swift growth of electric vehicle uptake in China,  Japan, and South Korea. Being the biggest EV market, China has not only developed EVs but also is pouring lots of effort into building charging facilities. Massive government initiatives, subsidies, and policies supporting emission reductions in the region have supported the penetration along with a network of public and home charging infrastructure, boosting its regional dominance.

North America is predicted to grow the fastest CAGR over the forecast period from 2024 to 2032. Fuel cell electric vehicles (FCEVs) will benefit from the rising adoption of electric vehicles (EVs) in the U.S. and Canada, along with major investments for charging infrastructure, spurring this growth. North America is likely to be one of the growth regions soon since automakers will boost production of EVs and governments are promoting clean energy solutions over the next few years will drive the need for commercial and fast-charging stations.

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Recent Developments:

-In December 2024, ChargePoint and General Motors (GM) teamed up to install up to 500 ultra-fast EV chargers across the U.S. by the end of 2025, aiming to boost charging infrastructure.
-In March 2024, Leviton launched plug-in EV charging stations compatible with the My Leviton app, allowing users to schedule and monitor charging remotely.
-In January 2025, Schneider Electric launched the Charge Pro in Europe to accelerate EV adoption, offering an energy-efficient charging solution for commercial fleets and multifamily residences.

TABLE OF CONTENT - Key Points

Chapter 1. Introduction

Chapter 2. Executive Summary

Chapter 3. Research Methodology

Chapter 4. Market Dynamics Impact Analysis

Chapter 5. Statistical Insights and Trends Reporting

Chapter 6. Competitive Landscape

Chapter 7. Electric Car Charger Market Segmentation, by Type

Chapter 8. Electric Car Charger Market Segmentation, by Vehicle Type

Chapter 9. Electric Car Charger Market Segmentation, by Charging Infrastructure Type

Chapter 10. Electric Car Charger Market Segmentation, by Application

Chapter 11. Regional Analysis

Chapter 12. Company Profiles

Chapter 13. Use Cases and Best Practices

Chapter 14. Conclusion

Continued…

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Akash Anand
SNS Insider
+1 415-230-0044
info@snsinsider.com

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