Electric Vehicle Service Equipment Market Size, Share, Trends, Growth Outlook

Electric Vehicle Service Equipment Market is estimated to increase at a growth rate of 27.1% CAGR over the forecast period from 2024 to 2030.

The global Electric Vehicle Service Equipment Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By Application (Artic Trailer Movement, Last Mile Delivery, Line Feed, Gas Bottle Movement, People Movement, Reduced Width Vehicle, Waste Movement), By Vehicle (Hybrid Electric Vehicle, On and Off-Road Electric Vehicles, Rail Borne Electric Vehicles, Airborne Electric Vehicles, Seaborne Electric Vehicles, Space Borne Electric Vehicles, Others), By Sales Channel (OEM, Aftermarket).

An Introduction to Global Electric Vehicle Service Equipment Market, 2024

The electric vehicle service equipment (EVSE) market is witnessing significant growth in 2024, driven by the increasing adoption of electric vehicles (EVs) and the expansion of charging infrastructure worldwide. EVSE, also known as electric vehicle charging stations or chargers, are specialized devices used to supply electric power to recharge the batteries of electric vehicles, enabling convenient and reliable charging at home, workplaces, public locations, and along highways. With the growing awareness of climate change, energy independence, and the benefits of electric mobility, governments, businesses, and consumers are investing in EVSE deployment and electrification initiatives to accelerate the transition to electric transportation and reduce reliance on fossil fuels. Moreover, advancements in EVSE technology, such as fast-charging capabilities, bidirectional charging, and smart charging solutions, are improving charging efficiency, interoperability, and grid integration, while reducing charging times and costs for EV owners and operators. As automakers expand their electric vehicle offerings and governments introduce incentives and mandates to promote electric vehicle adoption, the electric vehicle service equipment market continues to innovate, offering a diverse range of charging solutions that support the widespread adoption of electric vehicles and contribute to a more sustainable transportation ecosystem.

Electric Vehicle Service Equipment Competitive Landscape

The global Electric Vehicle Service Equipment market is highly competitive with a large number of companies focusing on niche market segments. Amidst intense competitive conditions, Electric Vehicle Service Equipment Companies are investing in new product launches and strengthening distribution channels. Key companies operating in the Electric Vehicle Service Equipment Market Industry include- Allied Motion Technologies Inc, BAIC Motor Corp Ltd, BMW AG, Danaher Corp, Dr. Fritz Faulhaber GmbH & Co. KG (Faulhaber), General Electric Company, General Motors Company (Chevrolet), Hyundai Motor Company, Johnson Electric Holdings Ltd, Nidec Corp, Regal Beloit Corp, Renault Group, Siemens AG, Tesla Inc, Toshiba Corp, Volkswagen AG, ZD Automotive Co. Ltd, Zotye International Automobile Trading Co. Ltd.

Electric Vehicle Service Equipment Market Trend: Expansion of Electric Vehicle Charging Infrastructure

A prominent trend in the Electric Vehicle Service Equipment Market is the expansion of electric vehicle charging infrastructure. As the adoption of electric vehicles (EVs) continues to grow globally, there is an increasing need for robust and widespread charging networks to support the charging requirements of EV owners. This trend encompasses the installation of various types of charging stations, including Level 2 AC chargers, DC fast chargers, and ultra-fast chargers, in public spaces, commercial facilities, and residential areas. Additionally, advancements in charging technology, such as wireless charging and vehicle-to-grid (V2G) integration, are driving innovation in the electric vehicle service equipment sector. The expansion of charging infrastructure is facilitating the transition towards electric mobility and driving market growth in the Electric Vehicle Service Equipment Market.

Electric Vehicle Service Equipment Market Driver: Government Initiatives and Incentives for Electric Vehicles

A key driver propelling the Electric Vehicle Service Equipment Market is the implementation of government initiatives and incentives to promote the adoption of electric vehicles. Governments worldwide are introducing a range of measures, including subsidies, tax incentives, and regulatory mandates, to accelerate the transition towards electric mobility and reduce greenhouse gas emissions from the transportation sector. In many regions, there are financial incentives for the installation of electric vehicle charging stations, as well as regulatory requirements for new buildings and parking facilities to include EV charging infrastructure. Additionally, governments are investing in public charging networks and infrastructure projects to support the widespread adoption of electric vehicles and address range anxiety concerns among consumers. The support of government initiatives and incentives drives market demand for electric vehicle service equipment and fosters industry growth in the Electric Vehicle Service Equipment Market.

Electric Vehicle Service Equipment Market Opportunity: Development of Integrated Charging Solutions

An opportunity within the Electric Vehicle Service Equipment Market lies in the development of integrated charging solutions that offer convenience, interoperability, and scalability. As the market matures and EV ownership becomes more widespread, there is a growing demand for seamless and -friendly charging experiences. Manufacturers can capitalize on this opportunity by offering integrated charging solutions that combine hardware, software, and connectivity features to streamline the charging process for EV owners. Integrated solutions may include multi-standard charging stations, mobile apps for charging management, and cloud-based platforms for billing and analytics. Additionally, there is potential to develop smart charging solutions that incorporate artificial intelligence and machine learning algorithms to optimize charging schedules, minimize energy costs, and improve grid integration. By providing integrated charging solutions, manufacturers can enhance the experience, drive customer adoption, and create new opportunities for growth and market leadership in the Electric Vehicle Service Equipment Market.

Electric Vehicle Service Equipment Market Segmentation

By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
AftermarketGeographical Analysis
North America (United States, Canada, Mexico)
Europe (Germany, France, United Kingdom, Spain, Italy, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
South America (Brazil, Argentina, Rest of South America)
Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East, South Africa, Egypt, Rest of Africa

Electric Vehicle Service Equipment Companies

Allied Motion Technologies Inc
BAIC Motor Corp Ltd
BMW AG
Danaher Corp
Dr. Fritz Faulhaber GmbH & Co. KG (Faulhaber)
General Electric Company
General Motors Company (Chevrolet)
Hyundai Motor Company
Johnson Electric Holdings Ltd
Nidec Corp
Regal Beloit Corp
Renault Group
Siemens AG
Tesla Inc
Toshiba Corp
Volkswagen AG
ZD Automotive Co. Ltd
Zotye International Automobile Trading Co. Ltd
*- List not Exhaustive

TABLE OF CONTENTS

1 Introduction to 2024 Electric Vehicle Service Equipment Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain

2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations

3 Executive Summary
3.1 Global Electric Vehicle Service Equipment Market Size Outlook, $ Million, 2021 to 2030
3.2 Electric Vehicle Service Equipment Market Outlook by Type, $ Million, 2021 to 2030
3.3 Electric Vehicle Service Equipment Market Outlook by Product, $ Million, 2021 to 2030
3.4 Electric Vehicle Service Equipment Market Outlook by Application, $ Million, 2021 to 2030
3.5 Electric Vehicle Service Equipment Market Outlook by Key Countries, $ Million, 2021 to 2030

4 Market Dynamics
4.1 Key Driving Forces of Electric Vehicle Service Equipment Industry
4.2 Key Market Trends in Electric Vehicle Service Equipment Industry
4.3 Potential Opportunities in Electric Vehicle Service Equipment Industry
4.4 Key Challenges in Electric Vehicle Service Equipment Industry

5 Market Factor Analysis
5.1 Value Chain Analysis
5.2 Competitive Landscape
5.2.1 Global Electric Vehicle Service Equipment Market Share by Company (%), 2023
5.2.2 Product Offerings by Company
5.3 Porter’s Five Forces Analysis
5.4 Pricing Analysis and Outlook

6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts

7 Global Electric Vehicle Service Equipment Market Outlook by Segments
7.1 Electric Vehicle Service Equipment Market Outlook by Segments, $ Million, 2021- 2030
By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket

8 North America Electric Vehicle Service Equipment Market Analysis and Outlook To 2030
8.1 Introduction to North America Electric Vehicle Service Equipment Markets in 2024
8.2 North America Electric Vehicle Service Equipment Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Electric Vehicle Service Equipment Market size Outlook by Segments, 2021-2030
By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket

9 Europe Electric Vehicle Service Equipment Market Analysis and Outlook To 2030
9.1 Introduction to Europe Electric Vehicle Service Equipment Markets in 2024
9.2 Europe Electric Vehicle Service Equipment Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Electric Vehicle Service Equipment Market Size Outlook by Segments, 2021-2030
By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket

10 Asia Pacific Electric Vehicle Service Equipment Market Analysis and Outlook To 2030
10.1 Introduction to Asia Pacific Electric Vehicle Service Equipment Markets in 2024
10.2 Asia Pacific Electric Vehicle Service Equipment Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Electric Vehicle Service Equipment Market size Outlook by Segments, 2021-2030
By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket

11 South America Electric Vehicle Service Equipment Market Analysis and Outlook To 2030
11.1 Introduction to South America Electric Vehicle Service Equipment Markets in 2024
11.2 South America Electric Vehicle Service Equipment Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Electric Vehicle Service Equipment Market size Outlook by Segments, 2021-2030
By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket

12 Middle East and Africa Electric Vehicle Service Equipment Market Analysis and Outlook To 2030
12.1 Introduction to Middle East and Africa Electric Vehicle Service Equipment Markets in 2024
12.2 Middle East and Africa Electric Vehicle Service Equipment Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Electric Vehicle Service Equipment Market size Outlook by Segments, 2021-2030
By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket

13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Allied Motion Technologies Inc
BAIC Motor Corp Ltd
BMW AG
Danaher Corp
Dr. Fritz Faulhaber GmbH & Co. KG (Faulhaber)
General Electric Company
General Motors Company (Chevrolet)
Hyundai Motor Company
Johnson Electric Holdings Ltd
Nidec Corp
Regal Beloit Corp
Renault Group
Siemens AG
Tesla Inc
Toshiba Corp
Volkswagen AG
ZD Automotive Co. Ltd
Zotye International Automobile Trading Co. Ltd

14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise

By Application
Artic Trailer Movement
Last Mile Delivery
Line Feed
Gas Bottle Movement
People Movement
Reduced Width Vehicle
Waste Movement
By Vehicle
Hybrid Electric Vehicle
On- And Off-Road Electric Vehicles
Rail Borne Electric Vehicles
Airborne Electric Vehicles
Seaborne Electric Vehicles
Space Borne Electric Vehicles
Others
By Sales Channel
OEM
Aftermarket