The global Electric Vehicle Supply Equipment (EVSE) market is on track for massive growth, projected to reach $20.84 billion by 2030, expanding at a robust CAGR of 25.9%, according to a new report by Allied Market Research.
The market, valued at just $2.12 billion in 2020, is being fueled by rising EV adoption, supportive government policies, and the growing demand for low-emission, fuel-efficient mobility solutions.
Asia-Pacific Leads the Charge
Asia-Pacific dominated the market in 2020, with China at the forefront, and is expected to maintain its lead through 2030. Europe and North America follow as key regions driving EVSE adoption.
Technology and Policy Driving Growth
Key growth enablers include:
- Government incentives such as India’s FAME-II policy and Japan’s EV roadmap.
- Development of advanced solutions like wireless charging and Vehicle-to-Grid (V2G) systems.
- Increasing rollout of public charging stations on highways and in urban hubs.
Barriers and Opportunities
Despite strong momentum, high costs of EVs and charging infrastructure remain challenges. However, innovations such as ABB’s ultra-fast all-in-one EV charger – capable of delivering 100 km of range in under three minutes – highlight the industry’s drive to overcome adoption hurdles.
COVID-19 Impact
The pandemic slowed manufacturing and supply chains, delaying EV rollouts. Yet, the rebound in EV sales—up 160% in the first half of 2021—has reignited demand for charging infrastructure.
Market Outlook
- Residential charging generated the highest revenue in 2020.
- Level 2 chargers accounted for the largest share among charger types.
- The commercial segment is expected to witness rapid growth as public and highway charging stations expand.
Key Players
Major players shaping the EVSE market include ABB Ltd., Tesla, ChargePoint Holdings, Siemens AG, Schneider Electric, BP Chargemaster, Eaton Corporation, Delta Electronics, Leviton Manufacturing, and Webasto Group.
With rising fuel prices, depleting fossil reserves, and stricter emission norms worldwide, the EVSE market is expected to be a cornerstone of the future mobility ecosystem.
