Australia Electric Vehicle Charging Stations Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type Of Electric Vehicle (Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs)), And By Application (Public, Private) - Forecasts From 2022 To 2027

The Australian electric vehicle charging stations market is valued at US$19.033 million in 2020.

Introduction

Charging stations are places where electric cars (EVs) may be charged. Public and private charging stations are the two most common types of charging stations. Workplace charging stations and public locations are examples of public charging stations. Private charging stations include charging at home or at fleet facilities. Range anxiety is a major drawback for EVs. The dread of running out of power in the middle of a journey and not being able to reach a charging station is known as range anxiety. In order to motivate individuals to use more EVs, drastic investments are made in electric vehicle charging stations or charging infrastructure.

Market Trend:

Due to growing concerns about environmental preservation and climate change, electric vehicle sales have surged in recent years. The electric car market in the country is being boosted by several investments made by the federal and state governments to bring about beneficial environmental changes. Even though there are no additional subsidies provided by the federal government to promote the use of EVs, still, the majority of Australians prefer Evs over other vehicles. According to the Australian Institute’s polling, 62% of Australians support the use of tax subsidies to reduce the cost of Evs. Furthermore, Australia aims to reach net-zero carbon emission before 2050.  One of the most affected countries due to climate change in Bangladesh.

Growth Factors

• The rising advent of Electric Vehicles

Australia shows great dynamics for the small markets. The rising advent of EVs is boosting the electric vehicle charging station market in the region. Australia’s EV sales accounted for 1.6% of the total vehicle market in 2021. The country sold a total of 20,665 EVs in 2021, according to the Electric Vehicle Council. Electric car sales have grown three times in 2021 as compared to 2020. And holds more than 2% of the market share in the car segment (IEA).

• Favourable policies toward EV infrastructure

According to the Electric Vehicle Council of Australia, there were about 1,580 public charging locations by January 2022. Out of these, 291 are fast public charging locations, which were only 157 in 2020. The state and federal governments have agreed to co-fund the installation of about 700 more fast-charging stations over the next five years, beginning in 2021. The federal government announced an investment of US$132 million to promote the rollout of hydrogen refuelling and charging stations for electric vehicles.

Furthermore, in the private sector, Chargefox, a leading electric vehicle charging network provider in Australia, aims to install 5,000 plugs by the end of 2025.

COVID-19 impact

COVID-19 did not, as such, influence the electric vehicle charging station market in the region. Due to several policies and subsidies, the demand for EVs has increased and with it, the demand for EV charging stations has also increased. Lieu of the above reasons, the market for Electric Vehicle charging stations in Australia is anticipated to grow in the forecast period.

Key Market Segments

• By Type of Electric Vehicle
  • Battery Electric Vehicle (BEVs)
  • Plug-in Hybrid Electric Vehicle (PHEV)
• By Application
  • Public
  • Private