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AC Electric Vehicle Charging Station Market Size - By Type (Level1, Level 2), By Charging Site (Public, Private) & Forecast, 2024 – 2032

  • Report ID: GMI9654
  • Published Date: May 2024
  • Report Format: PDF

AC Electric Vehicle Charging Station Market Size

AC Electric Vehicle Charging Station Market size was valued at USD 15.1 billion in 2023 and is projected to grow at 22.2% CAGR from 2024 to 2032. Global electric vehicle market expansion along with economic factors catering to the adoption of electric vehicles will influence the business outlook. Market players are diversifying their geographic presence and tailoring their offerings to local market needs and preferences.
 

AC Electric Vehicle Charging Station Market

Economic factors including the total cost of ownership of EVs compared to internal combustion engine vehicles, electricity pricing, and infrastructure investment, play a significant role in market growth. For instance, in February 2023, BP decided to invest USD 1 billion in EV charging solutions across the U.S. to enhance the overall EV charging infrastructure across the country. The availability of affordable charging solutions and favorable financing options can accelerate market adoption.
 

AC Electric Vehicle Charging Station Market Trends

Rising adoption of data analytics & connectivity along with increasing regulatory regimes towards the adoption of electric vehicles to curb down the emission is facilitating the market expansion. Data analytics and connectivity features are increasingly being integrated into AC charging stations to provide insights into charging behavior, energy consumption, and grid management. These features enable operators to optimize charging station deployment, manage peak demand, and offer value-added services to customers.
 

In addition, regulatory developments, including building codes, zoning regulations, and EV infrastructure mandates, are shaping the AC EV charging station industry. Governments are enacting policies to incentivize the deployment of charging infrastructure and ensure interoperability and accessibility for EV owners.
 

AC Electric Vehicle Charging Station Market Analysis

AC Electric Vehicle Charging Station Market, By Type , 2022 – 2032 (USD Billion)

Based on type, the market is segmented into Level 1 & Level 2. Level 2 AC EV charging stations segment is expected to surpass USD 92 billion by 2032. Exponential & continuous urbanization along with rising smart city initiatives across developing regions will further complement the business scenario. In addition, the integration of renewable energy sources, such as solar and wind power, with AC charging infrastructure is gaining momentum.
 

Smart charging solutions that optimize charging times based on the availability of renewable energy are becoming increasingly common. These solutions enable EV owners to charge their vehicles using clean energy sources, thereby driving business growth.
 

AC Electric Vehicle Charging Station Market Share, By Charging Site, 2023

Based on charging site, the AC electric vehicle charging station market is divided into public & private. The public charging site industry is anticipated to expand at a CAGR of over 23% through 2032. Strategic partnerships and collaborations between EV manufacturers, charging infrastructure providers, utilities, and other stakeholders are driving the market trend. In addition, municipalities and local governments are investing in public charging infrastructure to support the transition to electric mobility and reduce carbon emissions.
 

Asia Pacific AC Electric Vehicle Charging Station Market, 2022 – 2032 (USD Billion)

The Asia Pacific AC electric vehicle charging station market size is poised to cross USD 63 billion by 2032. Growing demand and adoption of electric vehicles along with increasing technological advancements uplifting the evolving needs of consumers through non-ICE engine vehicles is anticipated to spur the market growth. In addition, manufacturers are focusing on developing more efficient and user-friendly charging solutions to meet the changing requirements of consumers and businesses, thereby contributing to the Asia Pacific EV charging station industry growth.
 

The U.S. exerts considerable influence in the AC electric vehicle charging station industry, propelled by its robust automotive sector and prominent industry players like Tesla, General Motors, and Ford. Government incentives and regulations foster electric vehicle uptake, while a thriving research and development ecosystem drives technological innovation in AC Electric Vehicle Charging Station. Consequently, the U.S. occupies a pivotal position in the market, leveraging its industry leadership, regulatory support, and innovation prowess.
 

AC Electric Vehicle Charging Station Market Share

AC Electric Vehicle Charging Station Market Share Analysis, 2023

ABB, Blink Charging Co., ChargePoint Inc., EVBox, Schneider Electric, among others are the few of the dominating market players in the AC electric vehicle charging station industry. In addition, EV charging station players revolves around innovation, partnerships, customer focus, regulatory compliance, and sustainability, aiming to capitalize on the expanding market opportunities in the electric mobility ecosystem.
 

AC Electric Vehicle Charging Station Market Companies

Some of the key market players operating across the AC electric vehicle charging station industry are:

  • ABB
  • Blink Charging Co.
  • Bosch Automotive Service Solutions LLC.
  • ChargePoint, Inc.
  • Charge Zone India
  • Delta Electronics
  • Eaton
  • Elli
  • Enphase Energy
  • EVBox
  • FLO Services USA Inc.
  • Leviton Industries
  • Schneider Electric
  • Siemens
  • SIGNET EV
  • Vinfast
  • Volta Industries Inc.
  • Zunder
     

AC Electric Vehicle Charging Station Industry News

  • In April 2024, Charge Zone in India announced to receive an investment of over USD 19 million by British International Investment (BII) to increase the expansion of EV charging network in the country. This will result in the expansion of EV charging infrastructure in the country, thereby adding to the market growth.
     
  • In July 2023, the government of Germany announced an investment of over USD 900 million to accelerate the rollout of EV charging infrastructure. This funding includes over USD 500 million allocated for installing charging stations at private households and over USD 400 million earmarked to support companies in establishing charging stations for commercially utilized vehicles, such as taxis, rental cars, delivery vehicles, and those used by tradespeople.
     

The AC electric vehicle charging station market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘Units’ and revenue in ‘USD Billion’ from 2021 to 2032, for the following segments:

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Market, By Type

  • Level 1
  • Level 2

Market, By Charging Site

  • Public
  • Private

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Norway
    • Germany
    • France
    • Netherlands
    • UK
  • Aisa Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • South Africa
  • Latin America
    • Brazil
    • Argentina

 

Authors: Ankit Gupta, Shashank Sisodia

Frequently Asked Questions (FAQ) :

The market size of AC electric vehicle (EV) charging station reached USD 15.1 billion in 2023 and will grow at 22.2% from 2024 to 2032, led by global electric vehicle market expansion.

The level 2 segment is expected to surpass USD 92 billion by 2032, driven by continuous urbanization along with rising smart city initiatives.

Asia Pacific market is anticipated to exceed USD 63 billion by 2032, propelled by growing demand for electric vehicles along with increasing technological advancements.

ABB, Blink Charging Co, Bosch Automotive Service Solutions LLC, ChargePoint, Inc, Charge Zone India, Delta Electronics, Eaton, Elli, Enphase Energy, and EVBox among others.

AC Electric Vehicle Charging Station Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 18
  • Tables & Figures: 15
  • Countries covered: 18
  • Pages: 135
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