The Electric Vehicle Supply Equipment Market is projected to reach USD 27.7 billion by 2027 from an estimated USD 2.5 billion in 2019, at a CAGR of 34.7% during the forecast period. Increasing investments made by governments across the globe to develop charging infrastructure creates opportunities for OEMs to expand their revenue stream and geographical presence. The European market is projected to experience steady growth, owing to the well-developed infrastructure for electric vehicles, while the North American market is the fastest growing market due to the innovative charging solutions. However, the high costs involved in initial investment, overhaul, and maintenance could hamper the growth of this market.

Portable charger segment is estimated to be the fastest growing market during the forecast period.
The portable charger segment is expected to be the fastest growing market. With portable chargers, EV drivers could carry the charger with them and charge the car whenever needed. Additionally, a portable charger eliminates the high cost associated with a fixed stationary charging station. Initially, portable chargers were introduced as small and light chargers that could generate sufficient power for short journeys. However, new advanced portable chargers are expected to generate the same power as a stationary charging station.

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The North American market is expected to register the fastest growth during the forecast period.
The North American market is expected to witness the fastest growth, followed by Europe and Asia Pacific. The electric vehicle supply equipment industry in the country is inclined toward innovation, technology, and development of advanced charging infrastructure. The increasing demand for reducing carbon emission and developing more advanced and fast charging stations are expected to propel the market growth. Tesla, Leviton, and ChargePoint are some of the key players in the US electric vehicle supply equipment industry

Asia Pacific is expected to be the largest market during the forecast period.

Asia Pacific is expected to be the largest market, followed by Europe. The increasing concerns of carbon emission due to existing vehicles and the efficiency in this mode of transport have led the authorities to develop a charging infrastructure network that has propelled the growth of this market. Government initiatives have encouraged the key players to develop the infrastructure for charging network.

Key Market Players

The global electric vehicle supply equipment market is dominated by major players such as Tesla (US), ABB (Switzerland), Siemens (Germany), and Bosch (Germany). These companies have strong distribution networks at a global level. In addition, these companies offer an extensive product range in this market. These companies adopt strategies such as new product developments, collaborations, and contracts & agreements to sustain their market position.

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Critical Questions:

• Many companies are operating in the electric vehicle charging space across the globe. Do you know who the front leaders are and what strategies have been adopted by them?
• Fast paced developments in EV charging such as turbo charging, novel battery, and smart charging system by leading manufacturers are expected to change the dynamics of electric vehicle charging. How will this transform the overall market?
• The industry is focusing on quick and efficient charging of electric buses. Which leading companies are working on off-board top-down pantograph and on-board bottom-up pantograph, and what organic and inorganic strategies have been adopted by them?
• Analysis of your competition that includes major players in the electric vehicle charging ecosystem. The major players include ABB (Switzerland), BYD Auto (China), Tesla (US), Siemens (Germany), EFACEC (Germany), and Webasto (US) among others.
• Discussion on your client’s imperatives based on our existing research on electric vehicle supply equipment and its ecosystems.