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Redding, California - July 11, 2023

North America Electric Vehicle Charging Stations Market to be Worth $17.6 Billion by 2030

North America Electric Vehicle Charging Stations Market by Component, Charging Type, Connection Type (Connectors, Wireless Charging), Mounting Type, Vehicle Type (Passenger Cars, Two-wheelers & Scooters), End User and Geography - Forecast to 2030

Meticulous Research^®—a leading global market research company, published a research report titled, ‘North America Electric Vehicle Charging Stations Market by Component, Charging Type, Connection Type (Connectors, Wireless Charging), Mounting Type, Vehicle Type (Passenger Cars, Two-wheelers & Scooters), End User and Geography - Forecast to 2030.’

According to this latest publication from Meticulous Research^®, the North America electric vehicle charging stations market is projected to reach $17.6 billion by 2030, at a CAGR of 26.8% during the forecast period. The growth of this market is driven by the rising incentives for installing charging stations in workplace & residential areas and the growing government initiatives to reduce consumer barriers to EVs and installations of charging stations. However, the lack of grid capacities to support EV charging stations restrains the growth of this market. Furthermore, retail MNCs' growing deployment of charging stations and increasing electric mobility adoption is expected to create market growth opportunities. However, the uncertainty about financing charging station installations is a major challenge for players in this market. The latest trend in the market is electric vehicle charging stations powered by renewable energy.

The North America electric vehicle charging stations market is segmented by component (hardware [electric vehicle supply equipment (EVSE), cable management systems, and electrical distribution systems], software [charging station management systems (CSMS), smartphone applications, open charge point protocol (OCPP), and interoperability solutions], services [system integration & installation and maintenance]), by charging type (level 2, DC fast charging, and level 1), by connection type (connectors, pantographs, and wireless charging [static wireless EV charging and dynamic wireless EV charging]), by mounting type (wall mount, pedestal mount, and ceiling mount), by vehicle type (passenger cars, heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters), by end user (commercial EV charging stations[commercial public EV charging stations {on-road charging, parking spaces, and destination chargers} and commercial private EV charging stations {fleet charging and captive charging}] and residential EV charging stations), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.

Based on component, the North America electric vehicle charging stations market is segmented into hardware, software, and services. In 2023, the hardware segment is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of this segment is attributed to the increasing government initiatives aimed at electrifying public bus fleets and deploying associated charging infrastructure and the rising adoption of EVs.

However, the software segment is projected to register the highest CAGR during the forecast period due to the increasing transparency in electricity consumption and demand charges and the growing need for managing EV fleets in real-time.

Based on charging type, the North America electric vehicle charging stations market is segmented into Level 2, DC fast charging, and Level 1. In 2023, the Level 2 segment is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of this segment is attributed to the increasing use of Level 2 chargers for residential and commercial applications and government incentives and regulations to promote the installation of Level 2 chargers.

However, the DC fast charging segment is projected to register the highest CAGR during the forecast period due to increasing government rebates on the purchase of DC fast charging stations, increasing investments from automakers towards the development of DC fast charging station infrastructure to support their long-range battery-electric vehicles, need to provide significantly faster charging compared to Level 2 chargers, and increasing installation of DC fast chargers in public locations along highways.

Based on connection type, the North America electric vehicle charging stations market is segmented into connectors, pantographs, and wireless charging. In 2023, the connectors segment is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of this segment is attributed to the increasing need for faster charging connectors compatible with high-power DC fast charging, the growing need for reliable connectors to minimize the risk of electrical faults, overheating, and other potential hazards, and increasing development and adoption of standardized connectors to ensure compatibility between charging stations and electric vehicles. Also, this segment is projected to register the highest CAGR during the forecast period.

Based on mounting type, the North America electric vehicle charging stations market is segmented into wall mount, pedestal mount, and ceiling mount. In 2023, the pedestal mount is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of this segment is attributed to the increasing installation of Level 2 pedestal mounts in retail stores, supermarkets, and fuel stations and the growing adoption of industrial EV fleet management and commercial charging stations.

However, the wall mount segment is projected to register the highest CAGR during the forecast period due to the increasing use of either Level 1 or Level 2 electric vehicle supply equipment (EVSE) and the increasing need to offer high-speed charging in a compact, affordable, and scalable package.

Based on vehicle type, the North America electric vehicle charging stations market is segmented into passenger cars, heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters. In 2023, the passenger cars segment is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of this segment is attributed to the favorable government policies and subsidies supporting EV adoption, advancement of EV battery technology, and expansion of charging infrastructure networks.

However, the heavy commercial vehicles segment is projected to register the highest CAGR during the forecast period due to the increasing adoption of electric buses and trucks for public transport and freight services and the growing adoption of autonomous delivery vehicles.

Based on end user, the North America electric vehicle charging stations market is segmented into commercial EV charging stations and residential EV charging stations. In 2023, the commercial EV charging stations segment is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of this segment is attributed to the increasing adoption of electric vehicles in commercial fleets for cost savings and reduced emissions, increasing government regulations and incentives for electric vehicle adoption in commercial fleets, and increasing Infrastructure development for shared mobility services. Also, this segment is projected to register the highest CAGR during the forecast period.

Based on country/region, the North America electric vehicle charging stations market is segmented into the U.S. and Canada. In 2023, the U.S. is expected to account for the largest share of the North America electric vehicle charging stations market. The large market share of the U.S. is attributed to the growing actions taken by the local and state governments to enhance the adoption of EVs and the increasing incentives for EVs and charging stations.

However, Canada is projected to register the highest CAGR during the forecast period due to the growing government initiative for implementing a zero-emission vehicle plan and the increasing EV deployment by shared mobility operators.

Key Players:

The key players operating in the North America electric vehicle charging stations market include ChargePoint Holdings, Inc. (U.S.), Blink Charging Co. (U.S.), ABB Ltd. (Switzerland), Tesla, Inc. (U.S.), BP p.l.c. (U.K.), EVgo Inc.(U.S.), Shell Plc (U.K.), EVBox Group (Netherlands), Electrify America LLC (U.S.), AddÉnergie Technologies Inc. (Canada), HANGZHOU AONENG POWER SUPPLY EQUIPMENT CO., LTD. (China), Webasto Group (Germany), EV Charging Installers America LLC, and Siemens AG (Germany).

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Key questions answered in the report-

Which are the high-growth market segments based on component, charging type, connection type, mounting type, vehicle type, end user, and country/region?
What was the historical market for electric vehicle charging stations in North America?
What are the market forecasts and estimates for the period 2023–2030?
What are the major drivers, restraints, opportunities, challenges, and trends in the North America electric vehicle charging stations market?
Who are the major players, and what shares do they hold in the North America electric vehicle charging stations market?
How is the competitive landscape in the North America electric vehicle charging stations market?
What are the recent developments in the North America electric vehicle charging stations market?
What are the different strategies adopted by the major players in the North America electric vehicle charging stations market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the North America electric vehicle charging stations market, and how do they compete with the other players?

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Redding, California - July 11, 2023

North America Electric Vehicle Charging Stations Market to be Worth $17.6 Billion by 2030

North America Electric Vehicle Charging Stations Market by Component, Charging Type, Connection Type (Connectors, Wireless Charging), Mounting Type, Vehicle Type (Passenger Cars, Two-wheelers & Scooters), End User and Geography - Forecast to 2030

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