North America Electric Vehicle Charging Stations Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Vehicle Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV)), By Application (Commercial, Residential), By Charging Type (AC Charging (Level 1 And Level 2), DC Charging), And By Country - Forecasts From 2022 To 2027

  • Published : May 2023
  • Report Code : KSI061612560
  • Pages : 92

The North American electric vehicle charging stations market is expected to grow at a compound annual growth rate of 14.35% over the forecast period to reach a market size of US$4,911.844 million in 2028, from US$1,921.759 billion in 2021.

The market for electric car charging is a fast-paced business with a wide range of applications in North America. Over the next few years, the North American electric car market is predicted to rise significantly. Technological advancements in the EV charging infrastructure are leading to faster charging times, improved efficiency, and increased reliability. This is making EVs a more practical option for consumers. Furthermore, companies in the EV charging infrastructure market are forming partnerships and collaborations to expand their reach and offer more comprehensive services.

One of the key factors driving the adoption of EVs in North America is government incentives.

Many federal and state governments offer tax credits and rebates to consumers who purchase EVs, making them more affordable and attractive to potential buyers. Additionally, some cities and municipalities have implemented policies such as free public charging stations, preferential parking, and HOV lane access for EVs, which further incentivize their adoption.

Another factor driving the adoption of EVs in North America is the growing demand for sustainable transportation options.

Consumers are increasingly concerned about the environmental impact of their vehicles, and EVs offer a cleaner and more sustainable alternative to traditional gas-powered cars. In addition, the increasing availability of charging infrastructure and longer driving ranges of EVs are making them a more practical option for everyday use.

Key Developments.

  • In April 2022, in collaboration with the Colorado Energy Office, ChargePoint, a major electric vehicle (EV) charging network, announced the completion of the first of six electric car fast-charging lanes.
  • In January 2023, Tesla invested another USD 770 million into the facility for its expansion. Such projects are thus expected to drive the production of battery electric vehicles and thus drive the market.
  • Honda and Sony entered into a partnership in June 2022, to develop a novel battery electric vehicle with Sony’s metaverse entertainment applications and Honda’s automated driving technology. The vehicle would be manufactured in Ohio for consumers in the US. The prototype of the vehicle was unveiled in January 2023, with orders expected to start in 2025 and deliveries to be made in 2026.
  • ChargePoint announced a collaboration with Goldman Sachs Renewable Power (GSRP), a long-term strategic investor in sustainable energy projects, in March 2022. ChargePoint and Goldman Sachs Renewable Power have teamed up to offer new customized financing options as part of the ChargePoint as a Service (CPaaS) product line to help eligible customers save money on EV charging equipment upfront.

Based on type of electric vehicle, the NA electric vehicle charging stations market is expected to witness positive growth in battery electric vehicles (BEVs).

The growth of BEVs is likely to be driven by the heavy volume of sales being generated due to various government schemes and initiatives, along with the development and launch of novel battery electric vehicles by various automotive players. For instance, according to the iZEV (Incentives for Zero-Emissions Vehicle) Program, the government of Canada provides incentives of up to CAD 5,000 on the purchase of battery electric vehicles to promote the adoption of this clean technology in the country. Such plans have greatly boosted the sales of BEVs in the country, which is expected to drive substantial growth in the market. According to data from Statistics Canada, the sales of BEVs have seen substantial growth in the past few years. Thus, the BEV segment is expected to grow at a faster rate compared to PHEVs.

The USA is expected to dominate the market due to favorable investments by major electric vehicle producers to improve the EV infrastructure in the country.

The North America electric vehicle charging stations market, based on country, is divided into USA, Canada, and Mexico. The USA is one of the leading EV markets in the world and the country is making efforts in boosting its EV adoption. The growing shift towards sustainable fuel and implementation of policies to reduce CO2 emissions are majorly driving the demand for electric vehicles in the country, thereby providing a positive outlook to EV infrastructure such as charging stations in the US. United States is also home to one the major electric vehicle producers such as Tesla, and General Motors which are actively investing in the strength of their EV charging stations in the country. For instance, in February 2023, the White House announced that Tesla will establish 7,500 electric vehicle charging stations by 2024, for non-tesla vehicles.

Key Market Segments

  • By Vehicle Type
    • Battery Electric Vehicle (BEV)
    • Plug-in Hybrid Electric Vehicle (PHEV)
  • By Application
    • Commercial
    • Residential
  • By Charging Type
    • AC Charging (Level 1 and Level 2)
    • DC Charging
  • By Country
    • USA
    • Canada
    • Mexico

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porters Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. NORTH AMERICA ELECTRIC VEHICLE CHARGING STATIONS MARKET ANALYSIS, BY VEHICLE TYPE

5.1. Introduction

5.2. Battery Electric Vehicle (BEV)

5.3. Plug-in Hybrid Electric Vehicle (PHEV)

6. NORTH AMERICA ELECTRIC VEHICLE CHARGING STATIONS MARKET ANALYSIS, BY APPLICATION

6.1. Introduction

6.2. Commercial

6.3. Residential

7. NORTH AMERICA ELECTRIC VEHICLE CHARGING STATIONS MARKET ANALYSIS, BY CHARGING TYPE 

7.1. Introduction

7.2. AC Charging (Level 1 and Level 2)

7.3. DC Charging

8. NORTH AMERICA ELECTRIC VEHICLE CHARGING STATIONS MARKET ANALYSIS, BY COUNTRY

8.1. Introduction

8.2. USA

8.2.1. USA electric vehicle charging stations market, By Vehicle Type, 2021 to 2028 

8.2.2. USA electric vehicle charging stations market, By Application, 2021 to 2028 

8.2.3. USA electric vehicle charging stations market, By Charging Type, 2021 to 2028 

8.3. Canada

8.3.1. Canada electric vehicle charging stations market, By Vehicle Type, 2021 to 2028 

8.3.2. Canada electric vehicle charging stations market, By Application, 2021 to 2028 

8.3.3. Canada electric vehicle charging stations market, By Charging Type, 2021 to 2028 

8.4. Mexico

8.4.1. Mexico electric vehicle charging stations market, By Vehicle Type, 2021 to 2028 

8.4.2. Mexico electric vehicle charging stations market, By Application, 2021 to 2028 

8.4.3. Mexico electric vehicle charging stations market, By Charging Type, 2021 to 2028 

9. COMPETITIVE ENVIRONMENT AND ANALYSIS

9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix

10. COMPANY PROFILES

10.1. Electrify America LLC.

10.2. Evgo Services LLC.

10.3. Tesla, Inc.

10.4. EV Charging Installers of America LLC

10.5. Phihong USA Corp.

10.6. EV Connect, Inc.

10.7. ChargePoint Holdings, Inc.

10.8. EvoCharge Inc.

10.9. ABB

10.10. Kitu Systems, Inc.


Electrify America LLC.

Evgo Services LLC.

Tesla, Inc.

EV Charging Installers of America LLC

Phihong USA Corp.

EV Connect, Inc.

ChargePoint Holdings, Inc.

EvoCharge Inc.

ABB

Kitu Systems, Inc.


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