The electric car charger market size has observed exponential growth in recent years. It shot up from $10.14 billion in 2024 to $12.64 billion in 2025 at a compound annual growth rate (CAGR) of 24.6%. The expansion in the historic period can be attributed to the rise in electric vehicle (ev) adoption and sales, government incentives and regulations, environmental concerns, consumer demand for convenient charging, and automotive industry investment in evs.
Moreover, the electric car charger market size is forecasted to witness a significant rise in the coming years. It is slated to reach $30.42 billion in 2029 at a compound annual growth rate (CAGR) of 24.6%. The growth in the forecast period can be attributed to the expansion of ev charging networks, standardization of charging connectors, and an uptick in the international market growth, global ev adoption, along with the increase in public and private charging stations.
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What Is The Primary Growth Driver of the Electric Car Charger Market?
The escalating demand for electric vehicles due to heightened environmental awareness is anticipated to bolster the growth of the electric car charger market in the forthcoming years. The momentum is shifting towards electrified transportation to diminish emissions arising from fossil fuel vehicles and facilitating transport as a more cost-effective alternative to its traditional counterparts. For instance, according to the Global EV Outlook 2022 report, electric vehicle (EV) sales doubled from the previous year in 2021, hitting a new zenith of 6.6 million. Consequently, the growing sales of electric vehicles are expected to spur the growth of the electric car charger market.
Which Are The Key Segments In The Electric Car Charger Market?
1) By Type: Slow AC, Fast AC, Fast DC
2) By Charging Type: On-board Charger, Off-board Charger
3) By Application: Home, Office, Commercial
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Which Are The Leading Companies In The Electric Car Charger Market?
Prominent players operating in the electric car charger market consist of Leviton Manufacturing Co. Inc, ABB Group, Siemens AG, Schneider Electric Corp, AeroVironment Inc., Blink Charging Co., Bosch Automotive Service Solutions Inc, ChargePoint Inc., Eaton Corporation, Elektromotive Ltd., and others. These companies have left a significant impact on the market due to their considerable investments and innovation in the sector.
What Innovations Are Paving The Way In The Electric Car Charger Market?
Major companies in the electric car charger market are prioritizing product innovation such as solar-powered electric car chargers to reach a larger customer base, increase sales, and boost revenue. For instance, in August 2022, Sunrun Inc., a US-based energy services provider, launched Level 2 EV Charger, an innovative solution for overnight EV charging compatible with all EV models.
Which Region Led The Electric Car Charger Market In 2024?
Back in 2024, Asia-Pacific emerged as the largest region in the electric car charger market. This segment includes significant areas such as Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
What Does The Electric Car Charger Market Report 2025 Offer?
The electric car charger refers to equipment that replenishes the power capacity for an electric car. These charging devices are pivotal for electric vehicles, community electric vehicles, and plug-in hybrids. The Electric Car Charger Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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