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

Global AC Electric Vehicle Charging Station Market will record over 22.2% CAGR from 2024 to 2032, catapulted by the expansion of EV charging networks.

There are inflowing investments in building both public and private charging infrastructure, enhancing the accessibility of charging stations and supporting the increasing number of electric vehicles on the road. Strategic partnerships between companies and government agencies are accelerating this expansion, fostering a more extensive and reliable network of charging points. Quoting an instance, in April 2024, Tata Passenger Electric Mobility partnered with Shell India Markets to install public EV charging stations across India. Utilizing Shell's fuel station network and Tata's data on 140,000 EVs, the initiative aims to enhance charging infrastructure and support EV adoption.

Additionally, advancements in AC charging technology, offering faster and more efficient charging solutions, are making EV ownership more convenient for consumers.

The AC electric vehicle charging station industry is segmented based on type, charging site, and region.

The level 1 segment will register a noteworthy CAGR during the forecast period, because of increased adoption of electric vehicles among urban and suburban consumers. The simplicity and cost-effectiveness of these chargers enable easy installation and adequate charging solutions for home use. As more households invest in EVs, the need for convenient, at-home charging solutions becomes more critical. Additionally, growing awareness of incentives for EV purchases accelerates the demand for level 1 AC charging stations.

The private segment will hold a considerable AC electric vehicle charging station market share by 2032, driven by the increasing number of properties installing charging infrastructure. As organizations and homeowners prioritize sustainability and seek to support their EV fleets and personal vehicles, private installations become essential. Additionally, the growing trend of offering EV charging as an employee benefit or a value-added service for tenants propels the demand. The convenience, control, and potential cost savings associated with private charging stations are significant factors contributing to their increased deployment.

North America AC electric vehicle charging station market will experience a promising CAGR through 2032, owing to regulatory support for EV adoption and significant investment in green infrastructure. The increasing urbanization and the shift towards sustainable transportation are highlighting the need for expansion of charging networks. Additionally, incentives and rebates from local governments encourage both businesses and homeowners to install EV chargers, thereby propelling the regional industry growth.