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Peer-to-Peer Electric Vehicle Charging Market

Peer-to-Peer Electric Vehicle Charging Market

Peer-to-Peer Electric Vehicle Charging Market Analysis by Charger Type (Level 1, Level 2), by Application (Destination Charging Station, Fleet Charging Station, Workplace Charging Station) and by Region - Global Forecast 2022-2032

Peer-to-Peer Electric Vehicle Charging Market
FACT7153MR
  • Feb-2022
  • List of Tables : 54
  • List of Figures : 114
  • 170 Pages
  • Technology

Peer-to-Peer Electric Vehicle Charging Market Outlook (2022-2032)

The global sales of peer-to-peer electric vehicle charging is likely to garner a market value of US$ 1.08 Bn in 2022, and is expected to register a staggering double digit CAGR of 20% by accumulating a market value of US$ 6.7 Bn through the assessment period 2022-2032

Report Attributes

Details

Market Size Value in 2022

US$ 1.08 Bn

Project Market Forecast Value in 2032

US$ 6.7 Bn

Global Growth Rate (2022-2032)

20%

Market Share of North America

33%      

Key Companies Profiled

  • Chargepoint Inc.
  • innogy
  • Power Hero
  • Enphase
  • EV Meter
  • Greenlots
  • has·to·be gmbh
  • Enel X
  • EVBox
  • Webasto Group

Growing demand for electric vehicles worldwide along with government granting subsidies and policies to uplift the sales of electric vehicles is creating opportunities for peer-to-peer electric vehicle charging. Moreover, establishing charging infrastructure in parking spaces has led to an increase in the demand for peer-to-peer electric vehicle charging stations.

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Demand Analysis of Peer-to-Peer Electric Vehicle Charging from 2015 to 2021 Vs Market Projections for 2022 to 2032

As per Fact.MR’s report, from 2015 to 2021, the global sales of peer-to-peer electric vehicle charging market surpasses US$ 800 Mn by the end of 2021. As the world increasingly moves towards electric mobility, the number of EVs is bound to rise prolifically, hence the need for instant charging points is rising. This is providing traction to the market for peer-to-peer EV chargers.

During the COVID-19 pandemic, the global automotive industry suffered a significant setback. Production and output levels were severely impacted, causing gaps in the demand supply dynamics. Hence, manufacturers began to relook at future growth prospects, emphasizing more on beefing up electric vehicle production infrastructure, leading to increased research and development in developing high grade peer-to-peer EV chargers.

Rapid adoption of electric vehicles in developing countries along with initiatives by government to increase sales for electric vehicles is upsurging the demand for peer-to-peer electric vehicle charging.  Thus, the sales of peer-to-peer electric vehicle charging are expected to reach US$ 6.7 Bn by registering a CAGR of 20% in the forecast period 2022-2032.

Efficient Operability Boosting Adoption of Peer-to-Peer Electric Vehicle Charging?

EV manufacturers and Original Equipment Manufacturers (OEMs) are focusing on strengthening the interoperability of electric vehicles and charging infrastructure. This, in turn, is expected to augment the demand for peer-to-peer electric vehicle charging. In addition, governments across the globe are focusing on providing necessary space for establishing electric vehicle charging infrastructure in residential places.

For instance, in March 2021, the Government of India directed that buildings in New Delhi, such as hotels, hospitals, and malls, with parking facilities of more than 100 vehicles need to reserve 5% of the parking space for electric vehicles and charging points.

Country-wise Analysis

Expanding Partnerships with Car Manufacturers Creating Lucrative for Manufacturers in North America?

Growing number of companies operating in the peer-to-peer electric vehicle charging space across U.S. is playing a key role in the increasing use of the same. Moreover, electric vehicle charging station manufacturers are focusing on extending partnerships with car manufacturers to provide a seamless charging experience.

For instance, in March 2021, Charge Point announced the extension of its partnership with Volvo to launch an in-car Charge Point app and provide seamless charging functionality to Volvo car drivers. This app is built to help drivers locate the charging stations in North America from the vehicle infotainment system. Thus, North America is expected to hold more than 33% market share for peer-to-peer electric vehicle charging.

Government Initiatives Bolstering Demand for Peer-to-Peer Electric Vehicle Charging in Asia Pacific?

The government bodies of China are focusing on providing incentives to boost the sales of electric vehicle in the country. For instance, Guangzhou, a city in China, announced a subsidy of USD 1,552.94 for the vehicles sold in March and the end of December in 2020. Moreover, countries, such as, India are making efforts to boost the sales of electric vehicles, creating opportunities for market growth.

An increase in government efforts toward promoting the sales of electric vehicles are expected to create opportunities for market growth in the forthcoming assessment period. Thus, Asia Pacific is expected to hold more than 20% market share for peer-to-peer electric vehicle charging.

An Adaptive Approach to Modern-day Research Needs

Category-Wise Insights

Use of Peer-to-Peer Electric Vehicle Charging Influencing Demand in Corporates?

Electricity providers are focusing on establishing partnerships with peer-to-peer EV charging software developers to develop level 2 chargers for tenant and public use.

Furthermore, an increase in the adoption of level 2 chargers among corporates such as GENERAL MOTORS and The Coca-Cola Company is positively influencing the demand for peer-to-peer electric vehicle charging. Thus, by charger type, Level 2 is expected to hold more than 70% market share for peer-to-peer electric vehicle charging.

Expansion of OEM’s Boosting Demand for Peer-to-Peer Electric Vehicle Charging in Residential Sector?

An increase in the emphasis of Original Equipment Manufacturers (OEMs) on the expansion of residential chargers specific to peer-to-peer networks is boosting the demand for peer-to-peer electric vehicle charging.

For instance, in October 2020, Enel X launched JuiceBox, an electric vehicle charger. The charger can be used in parking spaces at homes. Moreover, JuiceBox can be remotely managed through the Enel X JuicePass app.Thus, residential sector is expected to possess more than 60% market share for peer-to-peer electric vehicle charging.

Competitive Landscape

  • In February 2022, Chargepoint Inc announced partnership with Sonepar for deploying charging stations in France. Through this partnership, the company is focusing on increasing charging points in France. In addition, this partnership is helping Sonepar is strengthening its position across France.
  • In February 2022, Enphase Energy Inc launched a partnership with Swell Energy Inc. Through this partnership, the company will increase its presence in countries like California, New York and Hawaii.

Report Scope

Report Attributes

Details

Forecast Period

2022-2032

Historical Data Available for

2015-2021

Market Analysis

  • US$ Mn for Value
  • ‘000 Units for Volume

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Key Countries Covered

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Italy
  • BENELUX
  • Nordics
  • China
  • Japan
  • South Korea
  • GCC
  • Turkey
  • South Africa

Key Segments Covered

  • Charger Type
  • Application
  • Region

Pricing

Available upon Request

An Adaptive Approach to Modern-day Research Needs

Key Segments Covered in the Peer-to-Peer Electric Vehicle Charging Report

  • By Charger Type :

    • Level 1
    • Level 2
  • By Application :

    • Destination Charging Station
    • Fleet Charging Station
    • Workplace Charging Station
    • Others

- FAQs -

As of 2021, peer-to-peer electric vehicle market demand reached a value of US$ 800 Mn
As of 2022, the market for peer-to-peer electric vehicle charging is forecast to reach nearly US$ 1.08 Bn
The peer-to-peer electric vehicle charging industry is expected to surpass a CAGR of 20% from 2022-2032.
The peer-to-peer electric vehicle charging market is expected to reach nearly US$ 6.7 Bn by 2032
Rapid adoption of electric vehicles along with accessible charging stations with the help of government initiatives are the key trends driving peer-to-peer electric vehicle charging sales.
Chargepoint Inc., Innogy, Power Hero, Enphase Energy Inc., EV Meter, Greenlots, has·to·be gmbh, Enel X, EVBox, Webasto Group are prominent peer-to-peer electric vehicle charging market players.
Level 2 charger is expected to gain more than 70% market share for peer-to-peer electric vehicle charging market.
Residential sector is expected to hold more than 60% market share for peer-to-peer electric vehicle charging market.
The peer-to-peer electric vehicle charging industry is expected to possess nearly 20% market share throughout North America.
The peer-to-peer electric vehicle charging industry is expected to possess nearly 33% market share throughout Asia Pacific.

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