According to a new report, published by KBV research, The Global Electric Vehicle Charger Market size is expected to reach $53.1 billion by 2030, rising at a market growth of 28.6% CAGR during the forecast period.
The Commercial segment is showcasing a CAGR of 30.5% during (2023 - 2030). Many commercial entities electrify their vehicle fleets to reduce operating costs and reduce their carbon footprint. This trend is particularly prevalent in logistics, delivery services, and public transportation industries. Commercial chargers play a crucial role in supporting the charging requirements of these fleets. Businesses are increasingly embracing sustainability as a core value. Installing commercial EV chargers aligns with their corporate social responsibility (CSR) goals and demonstrates a commitment to environmental stewardship.
The Plug-in Hybrid Electric Vehicle (PHEV) segment is leading the Global Electric Vehicle Charger Market by Vehicle Type in 2022, thereby achieving a market value of $18.2 Billion by 2030. To encourage the use of PHEVs, numerous governments all over the world provide incentives and subsidies. These incentives could come in the form of tax credits, refunds, and waived registration costs. Such measures reduce the overall cost of owning a PHEV, making them an attractive option for consumers. Cities and regions worldwide are implementing stricter emissions regulations to combat air pollution. PHEVs are transitional technology that helps reduce urban emissions without requiring a full transition to electric vehicles.
The Off-board Chargers segment has shown the high growth rate of 29.9% during (2023 - 2030). Off-board chargers have evolved to provide faster charging speeds. High-power chargers are becoming more common, allowing EVs to charge rapidly and significantly reduce charging times. As EV battery technology has improved, off-board chargers have adapted to support vehicles with larger battery capacities, enabling longer driving ranges on a single charge. Owing to these factors, the demand for off-board chargers will increase significantly.
The Asia Pacific region dominated the Global Electric Vehicle Charger Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $22.2 Billion by 2030. The Europe market is poised to grow at a CAGR of 27.5% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 28.3% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/electric-vehicle-charger-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of ABB Group, Robert Bosch GmbH, AeroVironment, Inc, BorgWarner Inc, Silicon Laboratories, Inc., BP p.l.c., ChargePoint, Inc, Schaffner Holding AG, Siemens AG, and Chroma ATE Inc.
By End User
By Vehicle Type
By Charging Type
By Geography
Companies Profiled
Unique Offerings 
