Peer-to-Peer Electric Vehicle Charging Industry is expected to surpass a CAGR of 20% from 2022–2032
The proliferation of electric vehicles (EVs) and the imperative need for sustainable transportation solutions have propelled innovations in the charging infrastructure domain.
The worldwide sales of peer-to-peer electric vehicle charging are projected to reach a market value of US$ 1.08 billion in 2022, with an anticipated double-digit compound annual growth rate (CAGR) of 20% during the forecast period from 2022 to 2032. By the end of this assessment period, the market is forecasted to accumulate a significant market value of US$ 6.7 billion.
One such innovation gaining traction is Peer-to-Peer (P2P) electric vehicle charging, which disrupts traditional charging paradigms by enabling EV owners to share their charging facilities with others. This research report comprehensively examines the current landscape, drivers, challenges, and future prospects of the P2P electric vehicle charging market.
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This section offers a detailed analysis of the current state of the P2P electric vehicle charging market, including market size, growth trends, and key players. It explores geographical variations in market adoption and regulatory frameworks influencing market dynamics.
Key Takeaways from Market Study
- By charger type, Level 2 charger expected to gain more than 70% market share for peer-to-peer electric vehicle charging market.
- By application, residential sector expected to hold more than 60% market share for peer-to-peer electric vehicle charging market.
- Peer-to-peer electric vehicle charging industry expected to possess nearly 20% market share throughout North America.
- Peer-to-peer electric vehicle charging industry expected to possess nearly 33% market share throughout Asia Pacific.
- Global market for peer-to-peer electric vehicle charging to reach US$ 1.08 Bn in 2022
The increasing global demand for electric vehicles, coupled with government subsidies and policies aimed at promoting their sales, is fostering opportunities for peer-to-peer electric vehicle charging. The establishment of charging infrastructure within parking facilities has notably fueled the demand for peer-to-peer electric vehicle charging stations.
Moreover, governmental initiatives in North America and the Asia Pacific region aimed at boosting electric vehicle sales are further driving the demand for peer-to-peer electric vehicle charging. Additionally, companies are forging partnerships with residential and commercial sectors to encourage the widespread adoption of peer-to-peer electric vehicle charging solutions.
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Top Key Players
Chargepoint Inc.
innogy
Power Hero
Enphase
EV Meter
Greenlots
has·to·be gmbh
Enel X
EVBox
Webasto Group
Market Segmentations
By Charger Type: Level 1, Level 2
By Application: Destination Charging Station, Fleet Charging Station, Workplace Charging Station, Others
Market Outlook and Future Trends:
Offers insights into the future trajectory of the P2P electric vehicle charging market, including growth projections, emerging trends, and potential disruptions. It discusses the role of technological advancements, regulatory developments, and evolving consumer preferences in shaping the market’s evolution.
Recent Developments
In February 2022, ChargePoint Inc revealed a collaboration with Sonepar to deploy charging stations throughout France. This strategic partnership aims to bolster the charging infrastructure in the country, enhancing accessibility to electric vehicle charging points. Additionally, the alliance assists Sonepar in consolidating its market position across France.
Also in February 2022, Enphase Energy Inc initiated a partnership with Swell Energy Inc, targeting an expanded presence in key regions such as California, New York, and Hawaii. This collaborative effort is geared towards advancing Enphase Energy’s footprint in these markets, leveraging Swell Energy’s expertise and network for accelerated growth.
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