Public Charging Service Market Scope
Charging stations, also known as electric vehicle supply equipment (EVSE), are provided by electric utility providers in municipal parking lots or by private enterprises in retail shopping centers. These stations offer specific connectors that meet a range of electric charging connector standards. Public charging stations are typically found street-side or at retail shopping centers, government facilities, and other parking areas.Electric vehicle (EV) charging-as-a-service provides an efficient infrastructure for electric vehicle charging that is quick, accessible, and simple.
|Unit||Value (USD Million)|
|Key Companies Profiled||Eaton Corporation PLC, Siemens AG, General Electric Company, Schneider Electric SE, Delphi Automotive PLC, ChargePoint Holdings, Inc., Shell Recharge Solutions, EV Connect, EV Safe Charge Inc, Blink Charging Co. and Lightning eMotors|
The charging service sector is a highly consolidated market. To meet the rising demand, vendors in the market are primarily focusing on expansions and collaborations. The ability of the company model to provide effective and hassle-free charging is linked to the demand. Market participants are aggressively investing in expanding their charging networks in order to provide their clients with different charging options. Research Analyst at AMA estimates that Global Manufacturers will contribute to the maximum growth of Global Public Charging Service market throughout the predicted period.
Eaton Corporation PLC, Siemens AG, General Electric Company, Schneider Electric SE, Delphi Automotive PLC, ChargePoint Holdings, Inc., Shell Recharge Solutions, EV Connect, EV Safe Charge Inc, Blink Charging Co. and Lightning eMotors are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are SemaConnect, CATEC, WattLogic, LLC and Bp pulse.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Public Charging Service market by Type , by Application (Commercial and Residential) and Region with country level break-up.
On the basis of geography, the market of Public Charging Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
In 2021, Eaton acquired Green Motion SA, a leading designer and manufacturer of electric vehicle charging hardware and related software.Eaton's aim is to improve people's lives and the environment by utilizing power management technologies and services. It provides long-term solutions that enable its customers to handle electrical, hydraulic, and mechanical power more effectively, safely, efficiently, and dependably., and In 2022, Siemens eMobility launched the next generation of VersiCharge AC Series electric vehicle (EV) chargers for commercial and residential use. This is the industry's first EV charger to communicate with building management systems, allowing operators to monitor, manage, and alter the system in real time. VersiCharge, the third generation of AC charging, provides simple tools for regulating power demand, accurate energy metering, and increased network access to electric vehicle service providers, buildings, and automation systems.
The United States discovered that only 72.5% of 657 public fast chargers in the San Francisco Bay area were operational. Another study published in the United Kingdom by The Eco Experts found that more than 5.2% of the 26,000 public EV chargers in the investigated locations were broken. Electric vehicle chargers necessitate extensive maintenance, which is handled by the charging-as-a-service business model.
Influencing Trend:Rise in adoption of electric vehicle owing to government initiatives
Market Growth Drivers:Increasing demand for public charging infrastructure and Increased in automobile industry with wide developments in electric vehicle charging system
Challenges:Increased cost of the electric vehicles
Restraints:Lack appropriate maintenance
Opportunities:Development of the charging stations for charging of the electric vehicle with increasing number of infrastructures
Key Target AudienceAutomotive Manufacturers, Charging Infrastructure for Electric Vehicles, Electric Vehicle Charging Association, Charging Infrastructure and Others