Wired Electric Charging Market
Wired Electric Charging Market Forecasts to 2030 - Global Analysis By Product Type (Type-C, Micro USB, Lightning, Type-A and Other Product Types), Charging Type, Component, Application, End User and By Geography
Years Covered |
2021-2030 |
Estimated Year Value (2023) |
US $26.6 BN |
Projected Year Value (2030) |
US $52.3 BN |
CAGR (2023 - 2030) |
10.1% |
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
Largest Market |
Asia Pacific |
Highest Growing Market |
North America |
According to Stratistics MRC, the Global Wired Electric Charging Market is accounted for $26.6 billion in 2023 and is expected to reach $52.3 billion by 2030 growing at a CAGR of 10.1% during the forecast period. Wired electric charging is a method of replenishing electric vehicle (EV) batteries through physical connections. It involves using a cable to link the EV to a power source, typically a charging station or wall outlet. This approach ensures a stable and efficient flow of electricity, enabling faster charging compared to some wireless alternatives. Wired charging infrastructure is rapidly expanding worldwide, offering various charging speeds and power levels. As technology advances, wired charging systems continue to evolve, addressing range anxiety and supporting the growing adoption of electric transportation.
Market Dynamics:
Driver:
Increasing adoption of electric vehicles
As more consumers embrace EVs for their eco-friendly and cost-efficient attributes, there is a growing demand for reliable and accessible charging infrastructure. This surge in EV adoption stimulates investments in the development of charging stations, driving the expansion of the wired electric charging market. Governments and businesses are responding to this trend by implementing supportive policies, offering incentives, and actively participating in the establishment of charging networks. The rising number of electric vehicles on the road fuels a cycle of infrastructure growth, encouraging innovation in charging technologies and reinforcing the overall sustainability of the transportation sector.
Restraint:
High initial costs associated with establishing a wired electric charging infrastructure
These costs, including the installation of charging stations and necessary grid enhancements, create financial barriers for businesses and governments looking to invest in widespread charging networks. As a consequence, the limited availability of charging infrastructure can deter potential electric vehicle (EV) buyers, contributing to range anxiety and slowing down the overall adoption of EVs. Smaller businesses may face difficulties entering the market due to the substantial upfront investments required, leading to an uneven distribution of charging stations.
Opportunity:
Technological advancements
Faster charging speeds, smart charging solutions, and innovative user interfaces contribute to the market's growth. Fast-changing technologies reduce charging times, addressing a key concern for electric vehicle users. Smart charging solutions enable remote monitoring, payment integration, and dynamic energy management, enhancing convenience. Additionally, advancements in wireless charging technologies hold the potential to redefine the charging infrastructure landscape. These technological developments not only attract more users to electric vehicles but also encourage increased investments in charging infrastructure projects.
Threat:
Absence of standardized charging protocols
The lack of universal standards for connectors, communication protocols, and power levels creates confusion for electric vehicle (EV) owners and hinders the seamless integration of charging infrastructure. This inconsistency leads to compatibility issues, forcing consumers to deal with various charging interfaces and limiting their ability to use different charging networks. The absence of standardized protocols also complicates the development and deployment of charging stations, this fragmentation not only increases costs for infrastructure providers but also undermines the overall convenience and accessibility of wired electric charging
Covid-19 Impact
While the initial months of lockdowns and economic uncertainties led to a temporary slowdown in the installation of new charging infrastructure, the latter half of the pandemic saw resurgence in the market. The pandemic underscored the importance of resilient and sustainable transportation, driving increased interest in electric vehicles. Moreover, a heightened focus on environmental concerns and a shift towards green initiatives have accelerated the adoption of electric vehicles, thereby positively influencing the demand for wired electric charging solutions.
The micro USB segment is expected to be the largest during the forecast period
The micro USB segment is estimated to have a lucrative growth, as micro USB became a universal connector for many devices, including some early EVs and charging stations. This simplified charging and reduced the need for multiple cables. Thus, the widespread adoption of micro USB as a charging standard has led to increased uniformity in charging cables, allowing users to charge their devices with a single cable across various devices, including smartphones, tablets, and other electronic gadgets. This standardization promotes user convenience and reduces the need for multiple cables, contributing to a seamless charging experience.
The electric vehicle supply equipment segment is expected to have the highest CAGR during the forecast period
The electric vehicle supply equipment segment is anticipated to witness the highest CAGR growth during the forecast period, owing to efficient and widespread EV charging. The deployment of robust EVSE networks has alleviated range anxiety, a key concern for potential EV owners, by providing accessible and reliable charging points. This surge in infrastructure has not only accelerated the adoption of electric vehicles but also stimulated innovation in charging technologies, enhancing charging speed and efficiency. Moreover, the expansion of the EVSE market has attracted investments, fostering economic growth and creating job opportunities.
Region with largest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to many countries in the Asia-Pacific region have been implementing policies and incentives to encourage the adoption of electric vehicles. These initiatives often include the development of charging infrastructure as a key focus to address range anxiety and promote EV adoption. Moreover various companies, both local and international, are actively involved in the development, installation, and maintenance of wired electric charging stations in the APAC region propel the growth of the market in this region.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period, owing to various government initiatives at the federal, state, and local levels in the United States and Canada aim to promote the adoption of electric vehicles. These initiatives often include financial incentives, grants, and support for the development of charging infrastructure. Furthermore, the region has seen a significant expansion of electric charging infrastructure, including Level 1, Level 2, and DC fast charging stations. Both public and private entities are involved in deploying charging stations across urban and rural areas.
Key players in the market
Some of the key players in the Wired Electric Charging Market include ABB Ltd., Tesla, Inc., Siemens AG, EVgo Services LLC, ChargePoint, Inc., Bosch Automotive Service Solutions Inc., ClipperCreek, Inc., Schneider Electric SE, Delta Electronics, Inc., Nissan Motor Co., Ltd., Coulomb Technologies, Allego B.V., Heliox B.V., Efacec Power Solutions, S.A., Nissan Motor Co., Ltd., Pod Point Ltd., General Electric Company and Eaton Corporation
Key Developments:
In March 2024, ABB secures $150 million traction contract to power Australia’s QTMP trains and announces new facility in regional Queensland New trains to be operational in time for the Brisbane 2032 Olympic and Paralympic Games.
In February 2024, ABB to acquire SEAM Group to expand electrification service offering, Enables ABB to meet the increasing demand to modernize and optimize assets for safer, smarter and more sustainable operations.
In February 2024, Siemens Mobility and Cargounit sign agreements for the delivery of up to 100 locomotives. Cargounit is the largest customer for Siemens Mobility locomotives in Poland. With this new order, the company will have a total of 66 Vectrons and 18 Smartrons in its fleet.
Product Types Covered:
• Type-C
• Micro USB
• Lightning
• Type-A
• Other Product Types
Charging Types Covered:
• Standard
• Fast
Components Covered:
• Charging Stations
• Electric Vehicle Supply Equipment
• Power Distribution Units
• Connectors & Plugs
• Grid Connection Equipment
• Other Components
Applications Covered:
• Mobile Phone Users
• Laptop & Tablet
• Camera & Electronic Device
• Electric Vehicle (EV)
• Hospitals & Medical Centers
• Public Service Providers
End Users Covered:
• Consumer Electronics
• Automotive
• Industrial Applications
• Healthcare
• Other End User
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Wired Electric Charging Market, By Product Type
5.1 Introduction
5.2 Type-C
5.3 Micro USB
5.4 Lightning
5.5 Type-A
5.6 Other Product Types
6 Global Wired Electric Charging Market, By Charging Type
6.1 Introduction
6.2 Standard
6.3 Fast
7 Global Wired Electric Charging Market, By Component
7.1 Introduction
7.2 Charging Stations
7.3 Electric Vehicle Supply Equipment
7.4 Power Distribution Units
7.5 Connectors & Plugs
7.6 Grid Connection Equipment
7.7 Other Components
8 Global Wired Electric Charging Market, By Application
8.1 Introduction
8.2 Mobile Phone Users
8.3 Laptop & Tablet
8.4 Camera & Electronic Device
8.5 Electric Vehicle (EV)
8.6 Hospitals & Medical Centers
8.7 Public Service Providers
9 Global Wired Electric Charging Market, By End User
9.1 Introduction
9.2 Consumer Electronics
9.3 Automotive
9.4 Industrial Applications
9.5 Healthcare
9.6 Other End User
10 Global Wired Electric Charging Market, By Geography
10.1 Introduction
10.2 North America
10.2.1 US
10.2.2 Canada
10.2.3 Mexico
10.3 Europe
10.3.1 Germany
10.3.2 UK
10.3.3 Italy
10.3.4 France
10.3.5 Spain
10.3.6 Rest of Europe
10.4 Asia Pacific
10.4.1 Japan
10.4.2 China
10.4.3 India
10.4.4 Australia
10.4.5 New Zealand
10.4.6 South Korea
10.4.7 Rest of Asia Pacific
10.5 South America
10.5.1 Argentina
10.5.2 Brazil
10.5.3 Chile
10.5.4 Rest of South America
10.6 Middle East & Africa
10.6.1 Saudi Arabia
10.6.2 UAE
10.6.3 Qatar
10.6.4 South Africa
10.6.5 Rest of Middle East & Africa
11 Key Developments
11.1 Agreements, Partnerships, Collaborations and Joint Ventures
11.2 Acquisitions & Mergers
11.3 New Product Launch
11.4 Expansions
11.5 Other Key Strategies
12 Company Profiling
12.1 ABB Ltd.
12.2 Tesla, Inc.
12.3 Siemens AG
12.4 EVgo Services LLC
12.5 ChargePoint, Inc.
12.6 Bosch Automotive Service Solutions Inc.
12.7 ClipperCreek, Inc.
12.8 Schneider Electric SE
12.9 Delta Electronics, Inc.
12.10 Nissan Motor Co., Ltd.
12.11 Coulomb Technologies
12.12 Allego B.V.
12.13 Heliox B.V.
12.14 Efacec Power Solutions, S.A.
12.15 Nissan Motor Co., Ltd.
12.16 Pod Point Ltd.
12.17 General Electric Company
12.18 Eaton Corporation
List of Tables
1 Global Wired Electric Charging Market Outlook, By Region (2021-2030) ($MN)
2 Global Wired Electric Charging Market Outlook, By Product Type (2021-2030) ($MN)
3 Global Wired Electric Charging Market Outlook, By Type-C (2021-2030) ($MN)
4 Global Wired Electric Charging Market Outlook, By Micro USB (2021-2030) ($MN)
5 Global Wired Electric Charging Market Outlook, By Lightning (2021-2030) ($MN)
6 Global Wired Electric Charging Market Outlook, By Type-A (2021-2030) ($MN)
7 Global Wired Electric Charging Market Outlook, By Other Product Types (2021-2030) ($MN)
8 Global Wired Electric Charging Market Outlook, By Charging Type (2021-2030) ($MN)
9 Global Wired Electric Charging Market Outlook, By Standard (2021-2030) ($MN)
10 Global Wired Electric Charging Market Outlook, By Fast (2021-2030) ($MN)
11 Global Wired Electric Charging Market Outlook, By Component (2021-2030) ($MN)
12 Global Wired Electric Charging Market Outlook, By Charging Stations (2021-2030) ($MN)
13 Global Wired Electric Charging Market Outlook, By Electric Vehicle Supply Equipment (2021-2030) ($MN)
14 Global Wired Electric Charging Market Outlook, By Power Distribution Units (2021-2030) ($MN)
15 Global Wired Electric Charging Market Outlook, By Connectors & Plugs (2021-2030) ($MN)
16 Global Wired Electric Charging Market Outlook, By Grid Connection Equipment (2021-2030) ($MN)
17 Global Wired Electric Charging Market Outlook, By Other Components (2021-2030) ($MN)
18 Global Wired Electric Charging Market Outlook, By Application (2021-2030) ($MN)
19 Global Wired Electric Charging Market Outlook, By Mobile Phone Users (2021-2030) ($MN)
20 Global Wired Electric Charging Market Outlook, By Laptop & Tablet (2021-2030) ($MN)
21 Global Wired Electric Charging Market Outlook, By Camera & Electronic Device (2021-2030) ($MN)
22 Global Wired Electric Charging Market Outlook, By Electric Vehicle (EV) (2021-2030) ($MN)
23 Global Wired Electric Charging Market Outlook, By Hospitals & Medical Centers (2021-2030) ($MN)
24 Global Wired Electric Charging Market Outlook, By Public Service Providers (2021-2030) ($MN)
25 Global Wired Electric Charging Market Outlook, By End Users (2021-2030) ($MN)
26 Global Wired Electric Charging Market Outlook, By Consumer Electronics (2021-2030) ($MN)
27 Global Wired Electric Charging Market Outlook, By Automotive (2021-2030) ($MN)
28 Global Wired Electric Charging Market Outlook, By Industrial Applications (2021-2030) ($MN)
29 Global Wired Electric Charging Market Outlook, By Healthcare (2021-2030) ($MN)
30 Global Wired Electric Charging Market Outlook, By Other End User (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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