U.S. Electric Vehicle Charging Infrastructure Market Size, Share & Trends Analysis Report By Charger Type, By Connector (CHAdeMO, Combined Charging System), By Application- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2021-2027
The global U.S. Electric Vehicle Charging Infrastructure market gathered revenue around USD 2.14 Billion in 2020 and market is set to grow USD 29.10 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 39.2% during the prediction period 2021 to 2027.
Government policies and initiatives favoring the adoption of electric vehicles are also driving the demand for electric vehicle charging stations in the U.S. Moreover, government agencies are also signing long-term contracts with EVCI manufacturers, such as Siemens, Tesla, Chargepoint, among others for the development of bus and car charging stations on highways.
Easy integration with smart grid infrastructure and bi-directional charging capability is anticipated to drive the growth of the CHAdeMO segment over the forecast period. Moreover, research and development initiatives and investments by electric vehicle manufacturers such as Nissan Motor Co., Ltd. and Mitsubishi Motors Corporation for developing DC fast charging networks to support long-range travel is expected to drive the demand for CHAdeMO in the U.S. market.
In the wake of rising demand for sustainable and cost-effective mobility, various governments are emphasizing the development of ‘electric highways’. Level 2 and Level 3 DC charging stations with a power output in the range of 100 kW to 200 kW are being mostly used for highway charging station projects. Technologies, such as Radio Frequency Identification (RFID) and Near-Field Communication (NFC), have enabled the installation of interactive, kiosk-based, and self-operated charging stations within highway charging stations. Several private organizations are keen on investing in the development of electric vehicle charging stations along the highways. All these factors are driving the demand for highway charging stations.
Various government agencies are also partnering with each other on the development of highway electric charging stations. For instance, in the U.S., the Washington State Department of Transportation has partnered with the Oregon Department of Transportation to construct the West Coast Electric Highway (WCEH) that consists of 57 electric vehicle charging stations across Oregon and Washington.
As a part of the global EVCI expansion strategy, various EV charger manufacturers are adopting a collaborative model under which they are partnering with EV vehicle manufacturers and other businesses, such as hotels & retail chains, and utility service providers to deploy EV charging stations. At the same time, major EVCI manufacturers are working on integrating ultra-fast charging, autonomous park and charge, and wireless charging technologies to enhance the operational functionality of the electric vehicle, increase consumer convenience and minimize the charging time. Thus, the increased efforts of car manufacturers to make enhancements in electric vehicle charging infrastructure is driving the market growth. Further, Electric vehicles are experiencing a smaller dip in their sales compared to traditional automobiles due to the effects of a shrinking economy in response to the global coronavirus pandemic. This is expected to adversely impact the electric vehicle charging infrastructure market.
This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the U.S. Electric Vehicle Charging Infrastructure market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global U.S. Electric Vehicle Charging Infrastructure market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.
|Market Size||USD 29.10 Billion by 2027|
|Growth Rate||CAGR of 39.2% From 2021 to 2027|
|Forecast Period||2021 to 2027|
|Historic Data||2017 to 2020|
|Report coverage||Growth Factors, Revenue Status, Competitive Landscape, and Future Trends|
|Segments Covered||Charger type, connector, application and Region
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||ABB; BTC Power; Delta Electronics, Inc.; Webasto Group; ChargePoint, Inc.; AeroVironment Inc.; General Electric Company; Leviton Manufacturing Co., Inc.; SemaConnect, Inc.; Tesla, Inc.; ClipperCreek, Inc.|
COVID-19 Impact Assessment on Market Landscape
The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offers present short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.
U.S. Electric Vehicle Charging Infrastructure market Report empowers readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplishes sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.
By Charger Type analysis;
The fast charger segment led the market and accounted for more than 93% share of the global revenue in 2020. The growth of the segment is attributed to the rise in the number of consumers preferring electric vehicles for long-distance travel. The extensive deployment of infrastructure for charging electric vehicles by the corporate sector is expected to drive the demand for fast chargers in the U.S. over the forecast period.
On the other hand, the slow charger segment is anticipated to grow at a fast pace accounting for a high market volume by 2027. The demand for slow chargers is significantly driven by vehicle owners who prefer charging vehicles at home using a standard electricity outlet.
By Connector analysis;
The Combined Charging System (CCS) segment dominated the market and accounted for more than a 46% share of the global revenue in 2020. The increasing electrification and support by major manufacturers and OEMs, including Daimler AG, Ford Motor Company, General Motor Company, and Volkswagen is driving the segment growth. A CCS connector is developed by combining the basic SAE J1772 and two additional large pins for quick charging. A CCS connector supports slow and fast charging since it uses the Programmable Logic Controller (PLC) protocol that is a part of smart grid protocols. For instance, Hyatt has installed electric vehicle charging stations in the parking facility of the hotel. These stations have been deployed by Tesla, Inc., and consist of eight Levels 1 connectors that deliver an output of up to 6 kW.
By Application analysis;
The commercial segment dominated the market and accounted for more than 89.6% share of the global revenue in 2020. Government initiatives and funding for the installation of publicly accessible electric vehicle charging stations and active participation from electric vehicle manufacturers are expected to drive the growth of the segment. Several governments are pursuing various initiatives toward the development of electric highways, such as the Trans-U.S. highway project, and the West Coast Electric Highway (WCEH). Governments are also providing subsidies for the deployment of highway electric vehicle charging stations.
Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
- Company Overview
- Company Market Share/Positioning Analysis
- Product Offerings
- Financial Performance
- Recent Initiatives
- Key Strategies Adopted by Players
- Vendor Landscape
- List of Suppliers
- List of Buyers
Some of the prominent players in the U.S. Electric Vehicle Charging Infrastructure Market include: ABB; BTC Power; Delta Electronics, Inc.; Webasto Group; ChargePoint, Inc.; AeroVironment Inc.; General Electric Company; Leviton Manufacturing Co., Inc.; SemaConnect, Inc.; Tesla, Inc.; ClipperCreek, Inc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2027 and covers subsequent region in its scope:
- By Charger Type
- Slow Charger
- Fast Charger
- By Connector
- Combined Charging System
- By Application
- United Kingdom
- Rest of Europe
- Southeast Asia
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- North Africa
- South Africa
- Rest of Middle East & Africa
Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and product launches in the market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the market
In the study, a unique research methodology is utilized to conduct extensive research on the growth of the U.S. Electric Vehicle Charging Infrastructure market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the U.S. Electric Vehicle Charging Infrastructure market study are as follows - statistics from government organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the market, and makes the projections on the growth prospects of the U.S. Electric Vehicle Charging Infrastructure markets more accurate and reliable.
It involves company databases such as Hoover's: This assists us recognize financial information, structure of the market participants and industry competitive landscape.
The secondary research sources referred in the process are as follows:
- Governmental bodies, and organizations creating economic policies
- National and international social welfare institutions
- Company websites, financial reports and SEC filings, broker and investor reports
- Related patent and regulatory databases
- Statistical databases and market reports
- Corporate Presentations, news, press release, and specification sheet of Manufacturers
Primary research includes face-to face interviews, online surveys, and telephonic interviews.
- Means of primary research: Email interactions, telephonic discussions and Questionnaire based research etc.
- In order to validate our research findings and analysis we conduct primary interviews of key industry participants. Insights from primary respondents help in validating the secondary research findings. It also develops Research Team’s expertise and market understanding.
Industry participants involved in this research study include:
- CEOs, VPs, market intelligence managers
- Procuring and national sales managers technical personnel, distributors and resellers
- Research analysts and key opinion leaders from various domains
Key Points Covered in U.S. Electric Vehicle Charging Infrastructure Market Study:
- Growth of U.S. Electric Vehicle Charging Infrastructure in 2021
- Market Estimates and Forecasts (2017-2027)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for U.S. Electric Vehicle Charging Infrastructure and How to Navigate
- Key Product Innovations and Regulatory Climate
- U.S. Electric Vehicle Charging Infrastructure Consumption Analysis
- U.S. Electric Vehicle Charging Infrastructure Production Analysis
- U.S. Electric Vehicle Charging Infrastructure and Management