U.S. Electric Vehicle (EV) Charging Infrastructure Market Size, Share & Trends Report

U.S. Electric Vehicle (EV) Charging Infrastructure Market Size, Share & Trends Analysis Report By Charger Type, By Connector Type, By Level of Charging, By Connectivity, By Application, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-3-68038-309-6
  • Number of Report Pages: 105
  • Format: PDF, Horizon Databook
  • Historical Range: 2017 - 2021
  • Forecast Period: 2023 - 2030 
  • Industry: Technology

Research Methodology

A three-pronged approach was followed for deducing the U.S. electric vehicle (EV) charging infrastructure market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for U.S. electric vehicle (EV) charging infrastructure market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of U.S. electric vehicle (EV) charging infrastructure market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

U.S. Electric Vehicle (EV) Charging Infrastructure Market Categorization:

The U.S. electric vehicle (EV) charging infrastructure market was categorized into four segments, namely charger type (Slow Charger, Fast Charger), connector type (CHAdeMO, Combined Charging System), level of charging (Level 1, Level 2, Level 3), connectivity (Non-connected Charging Stations, Connected Charging Stations), application (Commercial, Residential)

Segment Market Methodology:

The U.S. electric vehicle (EV) charging infrastructure market was segmented into type, connector type, level of charging, connectivity and application. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The U.S. electric vehicle (EV) charging infrastructure market was analyzed at a regional level.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

U.S. electric vehicle (EV) charging infrastructure market companies & financials:

The U.S. electric vehicle (EV) charging infrastructure market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • ABB - ABB is primarily engaged in robotics, automation, and power technology. ABB’s Electrification Products division offers solutions for the entire electrical value chain. The company serves multiple industry segments, including infrastructure, data centers, railways, wind and solar power, marine, food & beverage, and oil & gas. It is also working extensively on developing e-mobility solutions and technology to build a sustainable future.

  • ChargePoint, Inc. - ChargePoint, Inc. is also engaged in designing and developing the EV charging technology. The company has an expansive global network of charging stations for EVs. The company has a strong presence in the U.S. with over 54,973 charging spots and over 903 Express DC fast spots. ChargePoint, Inc. provides charging solutions for various spaces, such as commercial real estates, parking operators, offices, hospitality, and entertainment & stadium.

  • ClipperCreek, Inc. - ClipperCreek, Inc. specializes in manufacturing chargers for electric vehicles. It offers electric and plug-in hybrid charging stations for residential applications, workplace applications, and commercial applications as well as for fleet-wide applications. The company provides electric vehicle charging solutions to owners as well as to companies looking to offer vehicle charging facilities to their employees or customers. The company recently launched dual charging stations that have the ability to charge two EVs at a time.

  • Leviton Manufacturing Co., Inc. - Leviton Manufacturing Co., Inc. is an electrical and electronic component manufacturer. The company has a global presence with sales operations in over 85 countries. It offers a vast range of over 25,000 products and holds approximately 600 patents. It is engaged in developing network and data connectivity solutions in addition to building electrical wiring devices, and lighting energy management systems for commercial, residential, and industrial buildings. It also manufactures receptacles, daylight harvesting controls, switches, and equipment for charging electric vehicles. Its products cater to the construction, education, entertainment, healthcare, food & beverage, government, manufacturing, retail, oil & gas, informational technology, and hospitality sectors.

  • SemaConnect, Inc.- SemaConnect, Inc. is a manufacturer and supplier of electric vehicle charging solutions. The company designs and develops electric vehicle charging stations for various applications, such as commercial properties, hotels, universities, and multifamily homes. It also offers web-based software in order to manage, monitor, and update a charging station.

  • Tesla - Tesla is an American automotive and technology company that designs, manufactures, and develops electric vehicles and products related to energy storage. Tesla provides equipment for office and home battery charging and has high-powered superchargers installed across North America, Europe, and Asia. The company has a strong network of 1,359 supercharger stations with 11,234 superchargers across the regions.

  • BTC Power - BTC Power is a manufacturer of power electronics. The company operates in the U.S., Canada, the Philippines, and Mexico. The company’s product line consists of DC and AC charging stations in the power range of 6.6 KW to 350 KW. Its DC chargers are mostly used across highways, workplaces, metros, and commercial locations for charging heavy-duty electric vehicles and passenger electric vehicles. BTC Power emphasizes the development of new products to sustain in the highly competitive market.

  • Delta Electronics, Inc. - Delta Electronics, Inc. is primarily engaged in designing and development of electronics and electrical components. Based on markets, the company’s products are categorized into power electronics, automation, and infrastructure. Under the infrastructure market, the company emphasizes on ICT infrastructure and energy infrastructure. The company has more than 169 sales offices worldwide, spanning countries such as Taiwan, China, India, Japan, South Korea, Russia, the U.K., the U.S. and Germany. The company’s manufacturing plants are located in 38 countries, spanning North America, Europe, and Asia Pacific regions. The company segmented its business into three, namely Power Electronics, Automation, and Infrastructure. The company’s electric vehicle supply equipment consists of AC- and DC-powered EV chargers and DC powered EV charging stations.

  • Webasto Group - Webasto Group is a global manufacturer primarily engaged in providing systems and accessories for the automotive sector. The company focuses on the development, manufacturing, and sales of roof and convertible systems, along with heating, cooling, and ventilation systems for commercial and passenger vehicles, recreational vehicles, special vehicles, and boats. It also offers battery systems and electric vehicle charging stations to global automotive manufacturers. 

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

U.S. Electric Vehicle (EV) Charging Infrastructure Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2017 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

U.S. Electric Vehicle (EV) Charging Infrastructure Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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