Fleet charging Market Size, Share, Growth Future Dynamics and Competitive Scenario ABB, ChargePoint, Phihong USA Corp, Tesla

Apr 18, 2024 10:44 PM ET

Fleet charging market to expand at a CAGR of 23.1% by 2032

In 2022, it was predicted that the Fleet Charging market would have a valuation of around 3,454.8 million USD. The Fleet Charging market is expected to grow from 4,083.9 million USD in 2023 to 26,441.3 million USD by 2032 at a CAGR of about 23.1% over the 2023–2032 period (2023-2032). Electromobil uses energy stored in batteries of vehicles to power one or more electric motors that move the wheels. EV drivers can publically charge their cars through fleet charging services. Most public car charging stations are level two electric chargers that can fully charge an electric vehicle for four to eight hours. Larger charging networks also have mobile apps where motorists can spot and pay for the station.

While others charge subscription fees on charging per minute bases of some stations’ charges. Stations across different service providers can be accessed by many cars because most charger networks are interoperable. These services offer reliable charging options away from home for reducing strain on EVs. Electric vehicles have become useful in day-to-day driving thanks to public charging infrastructure also called “fleet charging”. Electric commercial vehicles increase demand for EV fleets as well as commercial vehicle and consequently, charging infrastructure.

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Market Segmentation:

The offering of the fleet charging market is divided into two parts; these include EV’s Charging Stations and Services. Service features installation services and support as well as maintenance services as its sub-segments. In the year 2022, the major holder would be an EV Charging Station which will account to approximately eighty-point six percent (80.6%) of the total market revenue.

The market concerning fleet’s recharging capacity divides itself according to fixed and portable installations with fixed taking over about ninety-three-point nine percent (93.9%) in the year 2022.

Regarding type, we may identify ac-charging station and dc-charging station in fleet charging market. An AC charging station occupied most of market share in 2022.

Fleet cargo market at the level of cargo could be broken down into Tier 2 and Tier 3, with the former holding majority of the shares or about sixty-three-point eight percent (63.8%).

The fleet charging market can also be divided into single-phase and three-phase on a stage – wise basis. In 2022, one stage would account for almost sixty-one-point seven percent (61.7%) of the total market revenue while being the leader.

The fleet charger market can also be divided by vehicle type into passenger cars and commercial vehicles. Commercial vehicles include light vehicles, medium-sized vehicles and heavy vehicles. Passenger cars will own a major part of this market in 2022 with around sixty-one-point seven percent (61.7%) share in terms of revenue

Service and last mile companies, transport companies and public transport as well as others are among end-users who segmentize fleet charging market. The largest group owned these assets by service plus last-mile companies in year 2022.

Fleet Charging Regional Insights

Market overviews for North America, Europe , Asia Pacific , Middle East & Africa , South America are provided by the study . The Asian Pacific held approximately seventy-six-point four percent (76.4%) of the fleet charger market in 2022. This firm is projected to produce most chargers globally as it is based in Asia Pacific area

The EV charging market in the Asia-Pacific region has experienced substantial growth over the previous years and is projected to continue growing rapidly. Several start-ups and established players have moved into the space to cater for this demand. The public charging infrastructure requirement is increasing as governments policies and campaigns promote electric vehicles adoption across the region. China was in front again with 60% of global electric vehicle sales. Over a half of all electric vehicles worldwide are now on Chinese roads, while the country’s new energy vehicle sales have already exceeded those targeted for 2025.

Some of the major players in the Fleet Charging market includes.

ABB,

ChargePoint, Inc.,

Phihong USA Corp.,

EV Safe Charge Inc.,

Tesla,

Electrify America,

Blink Charging Co.,

EVgo Services LLC,

CyberSwitching,

Siemens.

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