Electric Vehicle Charging Infrastructure Market Research Report 2027 by Emergen Research

The global Electric Vehicle Charging Infrastructure Market is expected to reach USD 69.86 Billion by 2027, according to a new report by Emergen Research. A surge in the adoption of electric vehicles is likely to fuel the demand for electric vehicle charging infrastructure. Governments across the globe are investing heavily in the charging infrastructure to create opportunities for the OEMs to expand their business and revenue. The Asia Pacific and European regions are leading the adoption of these vehicles to curb the level of air pollution and emission of greenhouse gases (GHGs).

The leading players in the market include Chargepoint, Inc., ABB Ltd., Tesla Inc., BP Chargemaster, EVGO Services LLC, Semaconnect Network, Greenlots, and EV Connect, Electrify America LLC, and Opconnect Inc., among others.

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However, the high cost required in the initial investment, overhaul, and maintenance is hindering the market's development. The dramatic reduction in local air pollution, greenhouse gas emissions and resulting climate change impacts, and less oil usage from the transport sector due to the usage of electric vehicles promise a breakthrough in the future transportation sector. Electric vehicles save more greenhouse gas emissions compared to ICE vehicles having akin features. This is attributed to the higher fuel economy fine associated with the heavier weight of ICE vehicles as compared with electric vehicles.

Infrastructure Provider Outlook (Revenue, USD Billion; 2017-2027)

1. Charging Point Operator
2. E-Mobility Service Provider
3. Charging Hubs

Charging Infrastructure Type Outlook (Revenue, USD Billion; 2017-2027)

1. CCS
2. CHADEMO
3. Normal Charging
4. Tesla Supercharger
5. TYPE-2 (IEC 62196)

Charging Level Outlook (Revenue, USD Billion; 2017-2027)

1. Level 1 (120 V)
2. Level 2 (208 V – 240 V)
3. Level 3 (UPTO 600 V)

Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)

1. Electric bike
2. Plug-in hybrid PHEV
3. EV passenger cars
4. Heavy delivery vans
5. Others

Installation Type Outlook (Revenue, USD Billion; 2017-2027)

1. Portable Charger
2. Fixed Charger

Application Outlook (Revenue, USD Billion; 2017-2027)

1. Public
2. Private

Regional Outlook (Revenue, USD Billion; 2017-2027)

1. North America
2. U.S.
3. Canada
4. Europe
5. Germany
6. UK
7. France
8. BENELUX
9. Rest of Europe
10. Asia Pacific
11. China
12. Japan
13. South Korea
14. Rest of APAC
15. Latin America
16. Brazil
17. Rest of LATAM
18. MEA
19. Saudi Arabia
20. UAE
21. Rest of MEA

North America is projected to command the market expansion over the projected timeline attributable to the soaring implementation of Ground-based Monitoring Systems and Sensing and Imagery Systems to enhance the productivity of the agricultural sector. The augmented adoption of smart and precision farming, coupled with the presence of significant market players, is contributing to the progress of the market in the region. The Asia Pacific region is forseen to be the fastest-growing market due to rising initiatives for water conservation in the region. 

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Key Highlights from the Report

1. In November 2019, Mammoet, who is a global market leader for lifting and transporting heavy objects, entered into a partnership with the SGS group. SGS Group is helping the company with the construction of a large oil refinery in Nigeria.
2. The ground-based monitoring system segment held the largest market share of 55.2% in 2019. Growing adoption of the Ground-based Monitoring Systems among the skilled farmers in the developed economies to increase agricultural productivity and enhance crop quality is expected to drive the growth of the segment.
3. Services are forecasted to grow with the fastest CAGR of 13.8% over the forecast period. Increasing utilization of the Internet of things (IoT) enabled devices for agricultural and non-agricultural purposes, and the growing number of connected agriculture devices is expected to drive the growth of the services segment in the Electric Vehicle Charging Infrastructure market.
4. The agricultural segment accounted for the largest market share in 2019. The rising global population, along with the rising demand for food, is expected to increase the adoption of smart agricultural practices.
5. The Asia Pacific region is expected to be the fastest-growing region over the forecast period. The region is continuously striving to increase agricultural productivity by implementing technologically advanced agricultural practices.