PUBLISHER: The Business Research Company | PRODUCT CODE: 1648756
PUBLISHER: The Business Research Company | PRODUCT CODE: 1648756
An electric car charger is a device designed to supply power to electric vehicles (EVs). These charging points link electric cars, community electric vehicles, and plug-in hybrids to a source of electricity.
The primary types of electric car chargers include slow AC, fast AC, and fast DC chargers. Slow AC charging is commonly used in multi-dwelling structures, residences, and fleet charging sites where vehicles have ample time for charging. It typically takes about 5-8 hours for a full charge, with the AC power converted to DC and fed directly into the vehicle's battery by a converter. Fast AC chargers can fully recharge smaller electric vehicles in three to four hours, while fast DC chargers convert AC power to DC within the charging station, delivering DC power directly to the vehicle's battery for faster charging. These chargers may have different charging types, such as on-board and off-board chargers, and find applications in various locations, including homes, offices, and commercial areas.
The electric car chargers market research report is one of a series of new reports from The Business Research Company that provides electric car chargers market statistics, including electric car chargers industry global market size, regional shares, competitors with a electric car chargers market share, detailed electric car chargers market segments, market trends and opportunities, and any further data you may need to thrive in the electric car chargers industry. This electric car chargers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electric car charger market size has grown exponentially in recent years. It will grow from $10.14 billion in 2024 to $12.64 billion in 2025 at a compound annual growth rate (CAGR) of 24.6%. The growth in the historic period can be attributed to electric vehicle (ev) adoption and sales growth, government incentives and regulations, environmental concerns and emissions reduction goals, consumer demand for convenient charging, and automotive industry investment in evs.
The electric car charger market size is expected to see exponential growth in the next few years. It will grow to $30.42 billion in 2029 at a compound annual growth rate (CAGR) of 24.6%. The growth in the forecast period can be attributed to expansion of ev charging networks, standardization of charging connectors, international market growth, global ev adoption, and growing public and private charging stations. Major trends in the forecast period include fast and ultra-fast charging solutions, wireless charging technologies, ev battery advancements, smart grid integration and demand response, and autonomous and self-parking charging stations.
The electric car chargers market is anticipated to experience significant growth, driven by the increasing demand for electric vehicles (EVs) amid growing environmental awareness. The global shift toward electrified transportation aims to reduce pollution emissions from traditional fossil fuel vehicles, offering an alternative that is more environmentally friendly. According to the Global EV Outlook 2022 report published in May 2022, global EV sales doubled in 2021, reaching a record high of 6.6 million units. The surge in electric car sales, totaling 6,600,000 units in 2021 compared to 2,980,000 units in the previous year, underscores the momentum toward electric mobility. This rising demand for electric vehicles serves as a catalyst for the growth of the electric car chargers market.
Another contributing factor to the growth of the electric car charger market is the increasing trend of e-bikes and e-mountain bikes. E-bikes, or electric bikes, are bicycles equipped with an electric motor to assist in propulsion, while e-mountain bikes are designed for off-road use on challenging terrains. The adoption of e-bikes and e-mountain bikes is gaining traction, leading to a growing need for accessible charging infrastructure to power these electric bicycles. The German Bicycle Industry Association reported a significant increase in e-bike exports, reaching 190,000 units in 2023, marking a 56% rise compared to Q1 2022. This surge in e-bike adoption contributes to the demand for charging stations, including small-scale solutions compatible with electric cars, thus driving the growth of the electric car charger market.
In response to market demands and advancements in technology, major companies in the electric car charger market are innovating by developing new products, such as solar-powered electric car chargers. A solar-powered electric car charger harnesses energy from the sun through solar panels to generate electricity for charging electric vehicles. In August 2022, Sunrun Inc., a U.S.-based energy services provider, launched the Level 2 EV Charger as part of its home energy management solutions. This solar-powered EV charger, operating at a 40-amp Level 2, offers a practical solution for overnight charging and is compatible with all EV models. With intelligent features that allow users to customize settings and manage the charging process, Sunrun's Level 2 EV Charger addresses the growing demand for electric vehicles in the United States, emphasizing energy self-sufficiency and cost-efficiency.
Leading companies in the electric car charger market are focusing on developing technologically advanced solutions, such as the fastest DC charger, to boost charging efficiency and minimize downtime for electric vehicle (EV) users. The fastest DC charger refers to an EV charging station that uses direct current (DC) to deliver high power for rapid battery charging. For instance, in May 2024, Exicom Tele-Systems Ltd., an India-based provider of EV charging solutions, introduced the Harmony Gen 1.5, promoted as India's fastest DC charger for EVs, with a power output ranging from 60 kW to 400 kW. This innovative charger features a modular design for easy scalability and dynamic power distribution among multiple vehicles. It also includes an AI-driven management system for enhanced operational efficiency and predictive maintenance, along with user-friendly features such as ambient lighting and cable management. Constructed from high-quality steel, the Harmony Gen 1.5 is designed to endure India's harsh climate, making it suitable for a range of vehicles, from lightweight cars to heavy-duty buses.
In June 2022, Schneider Electric, a France-based company specializing in digital automation and energy management, acquired EV Connect, Inc., a U.S.-based provider of electric charging solutions. This strategic acquisition positions Schneider Electric to accelerate its growth, leveraging the expertise and solutions offered by EV Connect. The move reflects the growing importance of integrating electric vehicle charging infrastructure into Schneider Electric's portfolio, aligning with the increasing adoption of electric vehicles.
Major companies operating in the electric car charger market include Leviton Manufacturing Co. Inc, ABB Group, Siemens AG, Schneider Electric Corp, AeroVironment Inc., Blink Charging Co., Bosch Automotive Service Solutions Inc, ChargePoint Inc., Eaton Corporation, Elektromotive Ltd., Evatran LLC, General Electric Company, Hubbell Device-Kellems, Legrand India Pvt. Ltd., Tesla Motors Inc., TurboDock, Alfen N.V., ClipperCreek Inc., Delta Electronics Inc., Efacec Electric Mobility S.A., EV Safe Charge Inc., EV Solutions Inc., EVBox Group, EVgo Services LLC, EVoCharge, EVSE LLC, JuiceBar EV Inc., NewMotion B.V., Tritium Pty Ltd., Wallbox Chargers S.L., Webasto Charging Systems Inc.
Asia-Pacific was the largest region in the electric car chargers market in 2024. The regions covered in the electric car chargers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The countries covered in the electric car chargers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The electric car chargers market consists of sales of slow alternating current (AC) electric-car chargers, fast alternating current (AC) electric-car chargers, and fast direct current (DC) electric-car chargers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electric Car Charger Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electric car charger market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electric car charger ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electric car charger market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.