Smart EV Charger Market (Connector Type: CHAdeMO, Combined Charging System (CCS), and Supercharger; End-use: Residential Charging Unit and Commercial Charging Station; and Power Supply Range: 3 to 22 kW, 22 to 60 kW, and >60 kW)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The global smart EV charger market size was exhibited at USD 4.56 billion in 2022 and is projected to hit around USD 75.65 billion by 2032, growing at a CAGR of 32.43% during the forecast period 2023 to 2032.

Smart EV Charger Market Size, 2023 to 2032

Surge in adoption of electric vehicles among consumers, rise in trend of vehicle electrification in the automobile industry as well as government regulations on emissions, and increased fuel efficiency are prominent factors driving the demand for smart EV chargers, unlike other electric vehicles chargers

Even though the automotive sector has been severely hit by the coronavirus crisis, automakers are anticipated to reveal an increasing number of electric vehicles (EVs) post the pandemic. Such trends are anticipated to boost the growth of the smart EV charger market, since post COVID-19 incentives include installing more charging stations. However, there is a need for more attention for improving the infrastructure of home charging.

There is a huge gap between awareness and the actual number of charging stations. Companies in the smart EV charger market should increase signage and awareness about exact locations of public charging stations to encourage people to switch from conventional fuel vehicles to EVs. In the post pandemic period, it is predicted that market stakeholders will provide DC fast charging at high rates.

Smart EV Charger Market Report Scope

Report Coverage Details
Market Size in 2023 USD 6.04 Billion
Market Size by 2032 USD 75.65 Billion
Growth Rate From 2023 to 2032 CAGR of 32.43%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Connector Type, End-use, Power Supply Range Region,
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled ABB, Alfen N.V., Allego B.V., Bosch Automotive Service Solutions Inc., Efacec, Enervalis, EVBox, Juuce Limited.,OVO Energy Ltd,Schneider Electric. Smartev, TESLA, Wallbox Chargers, S.L.,Other Key Players

 

Drivers of Smart EV Charger Market

Sale and demand for electric vehicles have been increasing across the globe for the last couple of years. Electric mobility has become a mass production market from a niche product. This is majorly due to the deterioration of climatic conditions owing to transportation pollution. For the first time in the world, in 2017, the market share of electric mobility surpassed 1% share of total automobiles. This is a major factor that is likely to boost the smart EV charger market during the forecast period.

As per the announcements and current developments by automakers, approximately 500 EV models are estimated to be available by 2022. Several manufacturers, such as Tesla Inc. and Nissan, have introduced electric vehicles that are quieter on the roads and provide smooth and hassle-free ride. Low maintenance cost of electric vehicles has been an added advantage, which is likely to benefit consumers in the long-term.

Government initiatives and policies are promoting the adoption of electric vehicles; there exist several policy measures in this regard, which include monetary, traffic regulations, and charging infrastructure on freeways. Monetary policies include subsidies for electric vehicle purchase and support in road tax exemption to EV owners. Such government policies have proved effective in boosting the adoption of EVs. This has resulted in higher rate of adoption of electric vehicles in Asia Pacific and North America. Front running countries, such as those involved in the electric vehicles initiative, are already making progress from their initial phases of EV policy implementation. Various emission standards enacted by governments and various organizations, such as EURO 6 in European Union, Environment Protection Agency (EPA) in North America and Bharat Stage Emission Standards in India, have led toward compliance to these standards by vehicle manufacturers in their respective countries and regions. This, in turn, is likely to propel the demand for smart EV charger across the globe.

Challenges for Smart EV Charger Market

The price of electric vehicles, as compared to that of conventional ICE (internal combustion engine) vehicles, is significantly high and is considered as a primary restraining factor for the smart EV charger market.

The price of an electric vehicle is majorly contributed by its batteries and replacement of the batteries, after using for certain time period of about 4 to 5 years, could be highly expensive. Batteries of electric vehicles comprise heavy metals such as Lead (Pb), which could lead to multiple health disorders among humans. Furthermore, unavailability of sustainable plan for waste management of these batteries and rising production of electric vehicles is likely to present a serious waste-management challenge for recyclers at end-of-life, which may hinder the smart EV charger market during the forecast period.

The recent outbreak of COVID-19 pandemic hampered majority of businesses across the globe owing to the forced lockdown, which caused people to stay at home. The forced lockdown led to a decline in vehicle sales; subsequently, contracting the global smart EV charger market. However, the global smart EV charger market is expected to expand from 2021, owing to economic measures taken by governments to recover from financial losses caused by forced shutdown of business activities during the COVID-19 pandemic in 2020.

Smart EV Charger Market Segmentation

The global smart EV charger market has been segmented based on connector type, end-use, power supply range, and region

Based on connector type, the combined charging system (CCS) accounted for a major share of the global smart EV charger market, in terms of revenue, in 2022. The segment accounted for more than 45% share of the market in 2022. Combined charging system connectors supports both AC and DC charging, and it allows AC/DC charging through the same port, while vehicles equipped with CHAdeMO connectors have a separate port for AC charging systems. This, in turn, is likely to propel the combined charging system (CCS) segment of the global smart EV charger market during the forecast period.

Based on end-use, the smart EV charger market has been bifurcated into residential charging unit and commercial charging station. In terms of revenue, the residential charging unit segment accounted for a major share of the global smart EV charger market in 2022. Residential charging unit offers convenience and universal compatibility of home charging stations, constant use and charging also reduce its capacity to hold power. It is recommended to have an almost full battery in order to slow down the degradation of the battery, rather than a few hour taps on a public charging station.

Smart EV Charger Market: Regional Analysis

Based on region, the global smart EV charger market has been segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America

Asia Pacific accounts for a key share of the global smart EV charger market due to the high rate of adoption of electric mobility in countries such as China, Japan, India, and South Korea. Moreover, a rise in the demand for rapid and fast charging solutions in the region for long-distance rides is anticipated to boost the smart EV charger market in Asia Pacific during the forecast period. Asia Pacific is projected to remain a prominent region of the global market during the forecast period.

Followed to Asia Pacific, Europe hold major share of the global smart EV charger market, in terms of revenue, in 2022. Major industries across the Europe are planning to shut engine manufacturing plants and shift toward electric vehicles, which is anticipated to enhance the use of smart EV charger across Europe.

Some of the prominent players in the Smart EV Charger Market include:

  • ABB
  • Juuce Limited.
  • Alfen N.V.
  • Bosch Automotive Service Solutions Inc.
  • Efacec
  • Enervalis
  • OVO Energy Ltd.
  • Schneider Electric.
  • TESLA
  • Wallbox Chargers, S.L.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor, Inc. has segmented the global Smart EV Charger market.

By Connector Type

  • CHAdeMO
  • Combined Charging System (CCS)
  • Supercharger

By End-use

  • Residential Charging Unit
  • Commercial Charging Station

By Power Supply Range

  • 3 to 22 kW
  • 22 to 60 kW
  • >60 kW

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

Frequently Asked Questions

The global smart EV charger market size was exhibited at USD 4.56 billion in 2022 and is projected to hit around USD 75.65 billion by 2032

The global Smart EV Charger market is growing at a compound annual growth rate (CAGR) of 32.43% from 2023 to 2032.

ABB, Alfen N.V., Allego B.V., Bosch Automotive Service Solutions Inc., Efacec, Enervalis, EVBox, Juuce Limited.,OVO Energy Ltd,Schneider Electric. Smartev, TESLA, Wallbox Chargers, S.L.,Other Key Players

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis 

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Smart EV Charger Market 

5.1. COVID-19 Landscape: Smart EV Charger Industry Impact

5.2. COVID 19 - Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Smart EV Charger Market, By Connector Type

8.1. Smart EV Charger Market, by Connector Type, (2023-2032)

8.1.1 CHAdeMO

8.1.1.1. Market Revenue and Forecast (2020-2032)

8.1.2. Combined Charging System (CCS)

8.1.2.1. Market Revenue and Forecast (2020-2032)

8.1.3. Supercharger

8.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 9. Global Smart EV Charger Market, By End-use

9.1. Smart EV Charger Market, by End-use, (2023-2032)

9.1.1. Residential Charging Unit

9.1.1.1. Market Revenue and Forecast (2020-2032)

9.1.2. Commercial Charging Station

9.1.2.1. Market Revenue and Forecast (2020-2032)

Chapter 10. Global Smart EV Charger Market, By Power Supply Range 

10.1. Smart EV Charger Market, by Power Supply Range, (2023-2032)

10.1.1. 3 to 22 kW

10.1.1.1. Market Revenue and Forecast (2020-2032)

10.1.2. 22 to 60 kW

10.1.2.1. Market Revenue and Forecast (2020-2032)

10.1.3. >60 kW

10.1.3.1. Market Revenue and Forecast (2020-2032)

Chapter 11. Global Smart EV Charger Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.1.2. Market Revenue and Forecast, by End-use (2020-2032)

11.1.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.1.4. U.S.

11.1.4.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.1.4.2. Market Revenue and Forecast, by End-use (2020-2032)

11.1.4.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.1.5. Rest of North America

11.1.5.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.1.5.2. Market Revenue and Forecast, by End-use (2020-2032)

11.1.5.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.2. Europe

11.2.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.2.2. Market Revenue and Forecast, by End-use (2020-2032)

11.2.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.2.4. UK

11.2.4.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.2.4.2. Market Revenue and Forecast, by End-use (2020-2032)

11.2.4.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.2.5. Germany

11.2.5.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.2.5.2. Market Revenue and Forecast, by End-use (2020-2032)

11.2.5.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.2.6. France

11.2.6.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.2.6.2. Market Revenue and Forecast, by End-use (2020-2032)

11.2.6.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.2.7. Rest of Europe

11.2.7.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.2.7.2. Market Revenue and Forecast, by End-use (2020-2032)

11.2.7.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.3. APAC

11.3.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.3.2. Market Revenue and Forecast, by End-use (2020-2032)

11.3.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.3.4. India

11.3.4.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.3.4.2. Market Revenue and Forecast, by End-use (2020-2032)

11.3.4.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.3.5. China

11.3.5.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.3.5.2. Market Revenue and Forecast, by End-use (2020-2032)

11.3.5.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.3.6. Japan

11.3.6.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.3.6.2. Market Revenue and Forecast, by End-use (2020-2032)

11.3.6.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.3.7. Rest of APAC

11.3.7.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.3.7.2. Market Revenue and Forecast, by End-use (2020-2032)

11.3.7.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.4. MEA

11.4.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.4.2. Market Revenue and Forecast, by End-use (2020-2032)

11.4.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.4.4. GCC

11.4.4.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.4.4.2. Market Revenue and Forecast, by End-use (2020-2032)

11.4.4.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.4.5. North Africa

11.4.5.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.4.5.2. Market Revenue and Forecast, by End-use (2020-2032)

11.4.5.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.4.6. South Africa

11.4.6.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.4.6.2. Market Revenue and Forecast, by End-use (2020-2032)

11.4.6.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.4.7. Rest of MEA

11.4.7.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.4.7.2. Market Revenue and Forecast, by End-use (2020-2032)

11.4.7.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.5. Latin America

11.5.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.5.2. Market Revenue and Forecast, by End-use (2020-2032)

11.5.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.5.4. Brazil

11.5.4.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.5.4.2. Market Revenue and Forecast, by End-use (2020-2032)

11.5.4.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

11.5.5. Rest of LATAM

11.5.5.1. Market Revenue and Forecast, by Connector Type (2020-2032)

11.5.5.2. Market Revenue and Forecast, by End-use (2020-2032)

11.5.5.3. Market Revenue and Forecast, by Power Supply Range (2020-2032)

Chapter 12. Company Profiles

12.1. ABB

12.1.1. Company Overview

12.1.2. Product Offerings

12.1.3. Financial Performance

12.1.4. Recent Initiatives

12.2. Juuce Limited.

12.2.1. Company Overview

12.2.2. Product Offerings

12.2.3. Financial Performance

12.2.4. Recent Initiatives

12.3. Alfen N.V.

12.3.1. Company Overview

12.3.2. Product Offerings

12.3.3. Financial Performance

12.3.4. Recent Initiatives

12.4. Bosch Automotive Service Solutions Inc

12.4.1. Company Overview

12.4.2. Product Offerings

12.4.3. Financial Performance

12.4.4. Recent Initiatives

12.5. Efacec

12.5.1. Company Overview

12.5.2. Product Offerings

12.5.3. Financial Performance

12.5.4. Recent Initiatives

12.6. Enervalis

12.6.1. Company Overview

12.6.2. Product Offerings

12.6.3. Financial Performance

12.6.4. Recent Initiatives

12.7. OVO Energy Ltd.

12.7.1. Company Overview

12.7.2. Product Offerings

12.7.3. Financial Performance

12.7.4. Recent Initiatives

12.8. Schneider Electric.

12.8.1. Company Overview

12.8.2. Product Offerings

12.8.3. Financial Performance

12.8.4. Recent Initiatives

12.9. TESLA

12.9.1. Company Overview

12.9.2. Product Offerings

12.9.3. Financial Performance

12.9.4. Recent Initiatives

12.10. Wallbox Chargers, S.L.

12.10.1. Company Overview

12.10.2. Product Offerings

12.10.3. Financial Performance

12.10.4. Recent Initiatives

Chapter 13. Research Methodology

13.1. Primary Research

13.2. Secondary Research

13.3. Assumptions

Chapter 14. Appendix

14.1. About Us

14.2. Glossary of Terms

 

Proceed To Buy

USD 4500
USD 3800
USD 1900
USD 1200

Customization Offered

  • check-imgCross-segment Market Size and Analysis for Mentioned Segments
  • check-imgAdditional Company Profiles (Upto 5 With No Cost)
  • check-img Additional Countries (Apart From Mentioned Countries)
  • check-img Country/Region-specific Report
  • check-img Go To Market Strategy
  • check-imgRegion Specific Market Dynamics
  • check-imgRegion Level Market Share
  • check-img Import Export Analysis
  • check-imgProduction Analysis
  • check-imgOthers