The APAC EV charging infrastructure market is expected to grow from US$ 3,993.09 million in 2021 to US$ 10,773.75 million by 2028. It is estimated to grow at a CAGR of 15.2% from 2021 to 2028.
The accelerated technological development of next-generation electric vehicles and their supporting components, along with the evolution of charging-technology providers, is leading to rapid technological advancements in EV charging technology. The operations of electric vehicle charging stations are transforming due to the rising penetration of artificial intelligence (AI), the internet of things, and cloud computing as many major players in the EV charging infrastructure market are beginning to shift their focus toward the development of smart charging stations, which enables data connection between stations and EVs. Many technology providers have a dedicated focus on next-generation EV charging technology to integrate cloud connectivity, AI, access via smartphone, and fast charging in their infrastructure. Furthermore, the emergence of new software solutions, such as cloud-based digital solutions for real-time fleet management and acceleration in electrification, is shaping the EV charging infrastructure market. For instance, the charging management software offered by EVBox enables users to track, manage, and optimize their EV charging infrastructure. Therefore, charging systems designed for high power and fast charging, incorporating the use of software solutions for a cloud connected EV charging infrastructure, are expected to pave the way for the market's growth and become a prominent trend in the coming years.
The accelerated technological development of next-generation electric vehicles and their supporting components, along with the evolution of charging-technology providers, is leading to rapid technological advancements in EV charging technology. The operations of electric vehicle charging stations are transforming due to the rising penetration of artificial intelligence (AI), the internet of things, and cloud computing as many major players in the EV charging infrastructure market are beginning to shift their focus toward the development of smart charging stations, which enables data connection between stations and EVs. Many technology providers have a dedicated focus on next-generation EV charging technology to integrate cloud connectivity, AI, access via smartphone, and fast charging in their infrastructure. Furthermore, the emergence of new software solutions, such as cloud-based digital solutions for real-time fleet management and acceleration in electrification, is shaping the EV charging infrastructure market. For instance, the charging management software offered by EVBox enables users to track, manage, and optimize their EV charging infrastructure. Therefore, charging systems designed for high power and fast charging, incorporating the use of software solutions for a cloud connected EV charging infrastructure, are expected to pave the way for the market's growth and become a prominent trend in the coming years.
Market Overview
Following large-scale expenditures from regional governments, such as India, South Korea, and China, the Asia Pacific EV Charging Infrastructure Market projection appears to be on track. Due to the sheer pressure, the governments in Asia Pacific countries need to address environmental problems. Public charging infrastructure is expanding in tandem with the region's growing usage of electric vehicles. As technology advances toward a new digital era, ultra-fast chargers are becoming increasingly important. Automobile manufacturers are investing in DC charging stations to meet this demand. Tesla's entry into several nations, such as India and China, and regional automakers' development of long-range battery vehicles, are likely to help accelerate the deployment of ultra-fast charging infrastructure. Market participants deliver business prototypes of EV charging stations for private and public usage, accelerating research projects. Furthermore, the size of India's EV charging infrastructure sector is constantly growing at a significant pace. There are only a few players in this regional market, such as Hyundai Kona electric, Tata Nexon EV, and MG ZS EV, which means that there is a lot of room for new players to enter the market, making EV charging infrastructure the next big thing in this regional automobile industry. Tata Power, an Indian power generation behemoth, has been actively ramping up its electric vehicle charging network, recognizing this potential. Tata Power is poised to capture a significant chunk of the Asia Pacific EV Charging Infrastructure Market. Its accessories span all main sectors, such as residential charging, public charging, workplace charging, and captive charging, resulting in market expansion.APAC EV Charging Infrastructure Market Segmentation
The APAC EV charging infrastructure market is segmented based on operator type, platform, hardware, charger type, IEC mode, and country.- Based on operator type, the APAC EV charging infrastructure market is bifurcated into charge point operator and e-mobility service providers. Charge point operator segment held a larger market share in 2021.
- Based on platform, the APAC EV charging infrastructure market is bifurcated into hardware and services. Hardware segment held a larger market share in 2021.
- Based on hardware, the APAC EV charging infrastructure market is bifurcated into AC charger and DC charger. AC charger segment held a larger market share in 2021. The AC charger segment is further divided into level 1 charger (120 v) and level 2 charger (240 v).
- Based on charger type, the APAC EV charging infrastructure market is bifurcated into public chargers and private chargers. Private chargers segment held a larger market share in 2021.
- Based on IEC mode, the APAC EV charging infrastructure market is segmented into 2, 3, and 4. The 2 segment held a largest market share in 2021. Based on country, the APAC EV charging infrastructure market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC. China dominated the market in 2021.
Table of Contents
1. Introduction
3. Research Methodology
4. APAC EV Charging Infrastructure Market Landscape
5. APAC EV Charging Infrastructure Market - Key Market Dynamics
6. EV Charging Infrastructure Market -APAC Analysis
7. APAC EV Charging Infrastructure Market Analysis - By Operator Type
8. APAC EV Charging Infrastructure Market Analysis - By Platform
9. APAC EV Charging Infrastructure Market Analysis - By Hardware
10. APAC EV Charging Infrastructure Market Analysis - By Charger Type
11. APAC EV Charging Infrastructure Market Analysis - By IEC Mode
12. APAC EV Charging Infrastructure Market - Country Analysis
13. Industry Landscape
14. Company Profiles
15. Appendix
List of Tables
List of Figures
Companies Mentioned
- ABB Ltd.
- Blink Charging Co.
- BOSCH Auto Parts
- Delta Electronics, Inc.
- Driivz Ltd.
- Eaton
- EVBox
- Leviton Manufacturing Co., Inc.
- Siemens AG
- Tesla, Inc.
- Tritium
- Wallbox Chargers, S.L.
- Webasto Group
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 131 |
| Published | October 2022 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 3993.09 Million |
| Forecasted Market Value ( USD | $ 10773.75 Million |
| Compound Annual Growth Rate | 15.2% |
| Regions Covered | Asia Pacific |
| No. of Companies Mentioned | 13 |
