Electric Mobility Networks Market Report 2024

This Electric Mobility Networks market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The electric mobility networks market size has grown exponentially in recent years. It will grow from $281.14 billion in 2023 to $357.27 billion in 2024 at a compound annual growth rate (CAGR) of 27.1%. The growth during the historic period can be attributed to increased government incentives and subsidies for electric vehicle (EV) adoption, rising environmental concerns and regulatory pressures, declining costs of battery technology, the expansion of EV charging infrastructure, growing investments from automotive manufacturers, heightened consumer awareness and demand for sustainable transportation, advancements in energy efficiency and performance of electric vehicles, the development of smart grid technologies, and supportive policies and regulations aimed at emission reduction.

The electric mobility networks market size is expected to reach exponential growth in the next few years. It will grow to $935.34 billion in 2028 at a compound annual growth rate (CAGR) of 27.2%. The growth during the forecast period can be attributed to the expansion of both public and private EV charging networks, government mandates, stricter emissions regulations, increasing investments in renewable energy sources, rising urbanization and the need for efficient transportation solutions, growing collaboration between governments and private companies, and an increase in the number of public and private charging stations. Major trends expected in this period include advancements in fast-charging technologies and infrastructure, integration of renewable energy sources into charging networks, the rise of vehicle-to-everything (V2X) communication technologies, and the development of vehicle-to-grid (V2G) and grid-to-vehicle (G2V) technologies.

The growth of electric mobility networks is expected to be driven by the increasing number of smart city projects. Smart cities use digital technology and data-driven solutions to enhance performance, improve quality of life, and reduce costs and resource consumption. This rise in smart city initiatives is fueled by cities seeking to leverage technology to address urban challenges and create environments that are more livable, sustainable, and efficient. As cities transition to smart city models, there is a growing emphasis on integrating electric mobility into urban planning, which includes developing infrastructure and public transport systems that are friendly to electric vehicles (EVs). For example, the Smart City Index Report by IMD Business School reported in April 2023 that the number of smart cities rose by 16.3%, from 118 in 2021 to 141 in 2023. Consequently, the expansion of smart city projects is boosting the electric mobility network market.

Companies in the electric mobility network sector are advancing charging infrastructure through the development of battery swap stations, which significantly reduce downtime by allowing for the rapid exchange of depleted batteries with fully charged ones. Battery swap stations are designed to facilitate the quick replacement of EV batteries, eliminating the need for prolonged charging sessions. For instance, in June 2024, Nio Inc., a Chinese automobile manufacturer specializing in electric vehicles, introduced Power Swap Station 4.0. This upgraded technology supports automated battery swaps for various vehicle brands and models and features six ultrawide-FOV LiDARs and four Orin X chips, providing a total computing power of 1,016 TOPS. Users can complete an automatic battery swap with a single tap or remotely, achieving the swap in 144 seconds - 22% faster than the previous model. Additionally, Nio launched a 640kW Liquid-Cooled Power Charger with a maximum current of 765A and voltage of 1,000V, equipped with a lightweight 2.4kg charging cable for convenient one-handed operation.

In March 2023, Shell USA Inc., a U.S.-based energy and petrochemical company, acquired Volta Inc. for $169 million. This acquisition is intended to significantly enhance Shell USA’s public EV charging network in the U.S., expanding its presence in the electric mobility sector. The acquisition leverages Volta's extensive network of over 3,000 charge points and its advertising capabilities to generate additional revenue while addressing the growing demand for EV charging solutions. Volta Inc. is a U.S.-based company specializing in EV charging infrastructure.

Major companies operating in the electric mobility networks market are E.ON SE, ENGIE SA, Tesla Inc., Siemens AG, BYD Company Ltd., Schneider Electric SE, ABB Ltd., DiDi Global Inc., NIO Inc., Lyft Inc., Enel X S.p.A., Rivian Automotive Inc., Segway-Ninebot Group, Arrival Ltd., Lucid Group Inc., Ola Electric Mobility Pvt. Ltd., Canoo Inc., Proterra Inc., Fisker Inc., Bird Global Inc., ChargePoint Inc., The Mobility House GmbH, Zipcar Inc., EVBox Group, Faraday Future Intelligent Electric Inc., Blink Charging Co., Neutron Holdings Inc., Aptera Motors Corp., Citymapper Limited.

Asia-Pacific was the largest region in the electric mobility networks market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mobility networks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electric mobility networks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electric mobility networks consist of interconnected systems designed to support the operation, charging, and management of electric vehicles (EVs) across various regions. These networks encompass infrastructure such as charging stations, software platforms for vehicle-to-grid (V2G) communication, and services that facilitate smooth electric transportation and energy integration. The goal is to establish a sustainable, efficient, and user-friendly ecosystem that promotes the widespread adoption of electric vehicles and helps reduce carbon emissions in the transportation sector.

The main types of charging infrastructure within electric mobility networks are public charging stations, private charging stations, and workplace charging stations. Public charging stations are accessible to the general public, allowing EV owners to recharge their vehicles conveniently while away from home. Software and services in this sector include payment processing, energy management, charging station maintenance, and monitoring. The end users of these networks encompass commercial, residential, and industrial sectors.

The electric mobility networks market research report is one of a series of new reports that provides electric mobility networks market statistics, including electric mobility networks industry global market size, regional shares, competitors with an electric mobility networks market share, detailed electric mobility networks market segments, market trends and opportunities, and any further data you may need to thrive in the electric mobility networks industry. This electric mobility networks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electric mobility networks market consists of revenues earned by entities by providing services such as charging station management, fleet management, vehicle-to-grid (V2G) integration, route optimization, real-time monitoring, data analytics, telematics, and user interface applications. The market value includes the value of related goods sold by the service provider or included within the service offering. The electric mobility networks market also includes sales of EV charging stations, battery storage systems, smart meters, energy management systems, connected vehicles, telematics devices, charging cables, power converters, EV batteries, and software platforms for network management. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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