Service charge

Electric vehicle charging as a service market size will increase to $28.2

Pune, June 22, 2022 (GLOBE NEWSWIRE) — The Electric Vehicle Charging as a Service Market Analysis and Forecast Report, 2022-2032 is the latest research published by MarketDecipher.com; estimates that the global market for electric vehicle charging as a service will reach $28.2 billion by 2032, growing at 21.4% CAGR. Read the detailed report on: https://www.marketdecipher.com/report/ev-charge-as-a-service-market

Growing demand for electric vehicle charging services at workplaces is expected to steadily boost market sales by $28 billion over the forecast period

EV charging as a service in the workplace can be a critical opportunity for EV drivers who don’t have easy access to home charging stations. Workplaces are most likely to install fast chargers. 30% of EV drivers are mostly charged at work. The growing number of drivers accessing off-street parking for electric vehicle charging could be particularly beneficial for the market share of electric vehicle charging as a service. Up to 50% funding for Quebec employers offering free charging, 40% of installation costs for workplace charging or public on-site charging for French employers, and discounts of up to £300 for UK employers.

A growing need for electric vehicle charging services in the commercial sector has arisen due to increased purchasing power and infrastructure in developing economies.

In commercial buildings, such as malls, supermarkets, and gas stations, a demand-based tariff structure can limit EV charging as a sale in the service market. A significant portion of electricity bills generated by these charges could slow the growth of electric vehicle charging services in the near future. However, the strong efforts made by EV Charging as a service market company are expected to reduce the cost of charging service in the future, increasing the growth of the EV Charging as a Service market to the next level.

EV Charging as a Service Industry Report Proposal Available at: https://www.marketdecipher.com/report/ev-Charging-as-a-service-market

Electric vehicle charging as a service market revenue has grown significantly in recent years despite the emergence of COVID-19 across the globe

The COVID-19 pandemic caused lockdowns across the globe in early 2020, which negatively impacted the Electric Vehicle Charging as a Service market revenue. However, the demand for these services has skyrocketed in 2021 due to the increase in initiatives and incentives provided by the governments of various countries. A number of leading network operators and charging service providers have extended their services worldwide. ABB, formerly known as ASEA Brown Boveri, reported a 34% increase in net profit in the first quarter of 2021 to $502 million. ABB has shipped more than 400,000 electric chargers to 85 countries to date. The electric vehicle charging as a service market is less impacted by the COVID 19 pandemic as electric vehicles are on the increase and various governments are taking measures to phase out internal combustion engine (ICE) vehicles.

APAC is poised to become the largest revenue contributor to the global EV Charging as a Service market

In 2021, the Asia-Pacific region dominated the market and held a 59% share of global revenue. Chinese, Japanese and Korean electric vehicle charging service providers are expected to invest heavily in the development of charging infrastructure. The Chinese government further plans to invest in the deployment of electric vehicle charging stations to support the adoption of electric vehicles in the country.

As part of its goal to promote the development of environmentally friendly vehicles and infrastructure, South Korea plans to invest $180.3 million in expanding the domestic electric vehicle charging market. Japan has also seen dramatic growth in electric vehicle charging services in 2021. The European government has set ambitious targets to invest in the electric vehicle charging services market in 2022.

“There are a number of highly sought-after electric vehicle charging locations, such as parking lots, multi-family residences, healthcare facilities, educational institutions, workplaces, hotels, and more.”

Presence of Active Electric Vehicle Charging Service Providers Will Drive Market Statistics by 2032

The leading electric vehicle charging service provider in this industry includes ABB Ltd, Aerovironment, Inc., Elektromotive Limited, General Electric Company, Schneider Electric SE, Delphi Automotive PLC., Eaton Corporation PLC., Siemens AG, Tesla Motors Inc. , Chargepoint Inc., and Leviton Manufacturing Co., Inc. Major energy companies such as Shell’s purchase of Dutch charging company NewMotion are investing heavily in electric vehicle charging service infrastructure players. EVgo Services LLC is set to become its preferred partner for electric vehicle charging services in the coming years.

Report proposal and sample available at: https://www.marketdecipher.com/report/ev-charge-as-a-service-market

Key segments of the Electric Vehicle Charging as a Service industry covered by this market are:

Charging Station Analysis (Revenue, USD Million, 2022 – 2032)

• AC charging station

• DC charging station

• Inductive charging station

Connector Type Analysis (Revenue, USD Million, 2022 – 2032)

• Chademo

• CCS

• Others

Location Analysis (Revenue, USD Million, 2022 – 2032)

• Audience

• Private

Custom research in the electric vehicle industry can be obtained by the customer upon request. For any such request, visit our reporting website and complete the request form: https://www.marketdecipher.com/report/ev-charge-as-a-service-market