Electric Mobility Networks Market

The market size of the global electric mobility networks was valued at USD 279.45 billion in 2021. It is projected to grow at a CAGR of 27.2% in the forecast period (2023-2030), reaching USD 2436.06 billion by 2030. This growth is driven by the increasing number of consumers opting for electric vehicles, leading to a higher demand for charging infrastructure and other components of electric mobility networks. As EVs become more affordable and charging stations are built, this trend is expected to continue.

The automotive industry is currently undergoing a significant transformation, with a surge in electric vehicle sales and rapid changes in the economics of electric vehicles. This has resulted in a substantial increase in the adoption of automotive electrification. The growth of the electric mobility market is further fueled by the expansion of the electric vehicle charging service network and infrastructure development.

According to the International Energy Agency (IEA), global EV sales are projected to exceed 3 million units by 2020. Government initiatives, such as subsidies and tax breaks for electric vehicle purchases, have played a significant role in driving sales growth. In Europe, for instance, incentives offered in 2020 have boosted EV sales in the region and contributed to the global e-mobility market. Additionally, increasing environmental concerns and stricter emission regulations worldwide have influenced consumer preferences, leading to a shift from conventional vehicles to electric vehicles and supporting market growth.

Global Electric Mobility Networks Market Segmental Analysis

The global market for Electric Mobility Networks is divided into various segments based on Charging Infrastructure, Software and Services, End-User, and region. In terms of Charging Infrastructure, the market is categorized into Public Charging Stations, Private Charging Stations, and Workplace Charging Stations. The Software and Services segment includes Large Payment Processing, Energy Management, Charging Station Maintenance and Monitoring, and Small and Medium Enterprises (SMEs). The End-User segment consists of Commercial, Residential, and Industrial. The market is also segmented based on regions, including North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Charging Infrastructure

When analyzing the Charging Infrastructure segment, it can be observed that in 2021, the market was primarily dominated by public charging stations. Several factors contribute to the growth of public charging stations. Firstly, the increasing number of electric vehicles on the roads necessitates the expansion of charging infrastructure to support them. Secondly, government subsidies and regulations have facilitated the development of public charging infrastructure. Lastly, the rising popularity of ride-sharing services and other forms of shared mobility has led to an increased demand for public charging stations, especially in locations such as parking garages and shopping malls.

In recent years, various companies, including established energy companies, startups, and automakers, have entered the market for public charging stations. Additionally, governments and utilities have played a significant role in the installation of public charging stations. Consequently, the market for public charging stations is expected to maintain its dominance in the foreseeable future.

Regional Insights: Global Electric Mobility Networks Market

In 2021, the Asia Pacific region emerged as the dominant force in the global electric mobility networks market, holding a market size of USD 9.53 billion. This regional dominance is projected to persist throughout the forecast period. The extensive adoption of electric vehicles in China has been a key driver of market expansion. According to the International Energy Agency (IEA), EV sales in China witnessed significant growth compared to the previous year. Moreover, the increasing penetration of electric vehicles in emerging markets of the Asia Pacific region, including India, South Korea, Japan, and others, is expected to further propel market growth in the future.

Europe, on the other hand, exhibits the highest growth rate in the electric mobility networks market. With a surge in governmental policies and incentives to promote the purchase of new EVs, coupled with a shift in consumer preferences towards electric mobility driven by stringent pollution regulations and environmental concerns, Europe is poised to experience a promising compound annual growth rate (CAGR) of 29.3% during the forecast period. For instance, by 2020, Europe witnessed a more than doubling of EV sales, with a record 1.4 million new EV registrations, surpassing any other country. Additionally, the well-established automotive industry in major European countries like Germany, the United Kingdom, and others, along with the availability of charging infrastructure, further supports market growth in the region.

Global Electric Mobility Networks Market Dynamics

Drivers

• The Commitment of Automakers to Achieve Carbon Neutrality to Propel Market Growth

Most major automakers have made public commitments to achieve carbon neutrality in the near future. They have announced plans to discontinue the production of fossil-fuel-powered vehicles and transition their entire product portfolios. For instance, Ford Motor Company stated in February 2021 that its European division will gradually phase out the production of fossil fuel-powered vehicles, offering only charging stations and plug-in hybrid electric vehicles by 2026. By 2030, all their passenger cars will run solely on batteries. This strong emphasis on rapid electrification by automakers is expected to drive market growth during the forecast period.

• Governments worldwide are implementing strict emission standards to reduce carbon emissions and combat climate change. They are also introducing policies that discourage the use of conventional or fossil-fuel-powered vehicles. The increasing skepticism regarding the adoption and future viability of traditional vehicles has led to a shift in consumer preferences towards electric vehicles. This shift is expected to fuel market growth in the coming years.

Restraints

• The global shortage of semiconductor chips has resulted in a decline in overall electric vehicle production. Major automakers like Volkswagen, Mercedes-Benz, General Motors, and others have experienced a decrease in the production volume of new electric vehicles, leading to a shortage in the availability of electric vehicles and causing longer delivery times and increased costs. This semiconductor chip shortage is anticipated to impede market growth.

Slow Adoption of Electric Mobility in Some Developing and Developed Countries

The slow adoption of electric mobility in certain developing and developed countries may limit market growth in the future. These regions may face challenges such as inadequate charging infrastructure, limited consumer awareness, and affordability issues, which hinder the widespread adoption of electric vehicles and the development of electric mobility networks.

Global Electric Mobility Networks Market Competitive Landscape

The market for electric mobility networks is characterized by intense competition, with the presence of numerous small and large players. The competitive landscape of the market is dynamic, with new companies entering the market and existing players expanding their product offerings. Established players such as ChargePoint, EVBox, and ABB hold a strong position in the electric vehicle charging infrastructure market, offering a diverse range of charging solutions for both public and private use. These companies are continuously enhancing their product lines by incorporating advanced charging technologies like high-power chargers and battery swapping solutions. Moreover, collaborations and partnerships are prevalent among companies in the electric mobility networks market, aiming to accelerate technological advancements and expand their market presence. For instance, some charging infrastructure providers have formed partnerships with utilities to integrate their charging stations with the power grid, while others have joined forces with automakers to provide tailored charging solutions to their customers.

Top Player’s Company Profiles

• ChargePoint Inc.
• EVBox Group
• Enel X S.p.A.
• ABB Ltd.
• E.ON SE
• Schneider Electric SE
• Siemens AG
• Tesla Inc.
• ENGIE SA
• Allego BV
• Greenlots (Shell New Energies US LLC)
• Blink Charging Co.
• Liberty Global Inc. (Virgin Media Limited)
• NewMotion B.V. (Shell New Energies US LLC)
• Ionity GmbH (BMW Group, Daimler AG, Ford Motor Company, and Volkswagen AG)
• Chargefox Pty Ltd.
• Pod Point Ltd.
• Innogy SE
• Delta Electronics Inc.
• The Mobility House GmbH

Recent Developments

• In February 2023, EVgo, an electric vehicle charging network, successfully raised $190 million in a funding round led by investment firm ECP. The raised capital will be utilized to expand the company's charging infrastructure across the United States.
• In January 2023, the city of Los Angeles announced a collaboration with EV Connect, an electric vehicle charging company, to install up to 250 public charging stations throughout the city by 2025. This partnership aims to enhance the accessibility and availability of charging infrastructure for electric vehicle owners in Los Angeles.
• In December 2022, Nio, a Chinese electric vehicle manufacturer, joined forces with State Grid EV Service to establish a network of battery swap stations across China. This strategic partnership is focused on increasing the convenience and accessibility of electric vehicles for Chinese consumers, making ownership more convenient by enabling efficient battery swapping.

Global Electric Mobility Networks Key Market Trends

• Numerous governments worldwide have implemented policies and initiatives to promote the adoption of electric vehicles and the development of electric mobility networks. These efforts vary across countries, with some offering financial incentives for EV purchases or the installation of charging stations, and others setting specific targets for the expansion of charging infrastructure.
• Technological advancements have significantly improved the efficiency, reliability, and affordability of electric mobility networks. Fast charging technology, for instance, has substantially reduced the charging time for electric vehicles, enhancing convenience for users. Additionally, smart charging systems have emerged, enabling optimal utilization of the power grid and promoting efficient energy management within electric mobility networks.

Global Electric Mobility Networks Market Segmentations

Charging Infrastructure

• Public Charging Stations
• Private Charging Stations
• Workplace Charging Stations

Software and Services

• Payment Processing
• Energy Management
• Charging Station Maintenance and Monitoring

End-User

• Commercial
• Residential
• Industrial

Regions

• North America (US, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe)
• Asia Pacific (China, India, Japan, Rest of Asia-Pacific)
• Latin America (Brazil, Rest of Latin America)
• Middle East & Africa (South Africa, GCC Countries, Rest of MEA)