Portable Electric Vehicle Chargers Market

The market for portable electric vehicle chargers is expected to witness significant growth in the coming years. By 2030, it is estimated to be valued at $63.2 million and is projected to reach $388.9 million, with a compound annual growth rate of 20.1% from 2023 to 2030.

A portable electric vehicle charger is a convenient mobile charging unit designed to charge electric vehicles in various locations, including places where charging stations are not readily available. These chargers offer a practical and space-efficient solution to the challenge of accessing charge points. Unlike stationary EV chargers, portable chargers are portable and specifically designed for on-the-go charging of EVs. They can be used at home, work, events, or any other location without access to traditional charging infrastructure.

The growth of the portable electric vehicle charger market can be attributed to several factors. Firstly, the increasing sales of electric vehicles contribute to the rising demand for portable charging solutions. Additionally, the limited availability of electric vehicle charging infrastructure and the lack of standardization in EV charging systems also drive the market growth. Furthermore, the desire for convenience and the need to alleviate range anxiety among EV owners fuel the demand for portable chargers. However, the high cost of these chargers poses a challenge to market expansion.

Despite the challenges, there are promising opportunities on the horizon. The development of wireless and bi-directional chargers, along with the emergence of fast charging technology, opens up new avenues for growth. The concept of mobile charging as a service is also gaining traction, presenting potential opportunities for the market. Furthermore, the growing trend of shared mobility enhances the demand for portable EV chargers. These factors are expected to contribute to the expansion of the global market in the forecast period.

The market for portable electric vehicle chargers is categorized into different segments based on type, application, and region. In terms of type, the market is divided into AC and DC chargers. By application, it is classified into passenger cars and commercial vehicles. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Asia-Pacific region exhibits substantial growth potential, primarily due to the significant increase in the number of electric vehicles in countries like China, India, and Japan. The region is witnessing various government initiatives aimed at promoting the development of electric vehicle charging infrastructure, which is expected to drive the growth of the portable EV charger market. Additionally, substantial investments in the expansion of the electric vehicle industry further contribute to market growth.

For example, Japan introduced a $708 billion economic stimulus package in December 2020, with a significant portion allocated to reducing carbon emissions and fostering digital innovation. Furthermore, several electric vehicle charging manufacturers in the region offer portable charging solutions to eliminate the need for complex and expensive electrical infrastructure. Wonder New Energy Technology, Ltd in Beijing, China, for instance, provides mobile electric vehicle chargers with a battery capacity of 6KWh and an output power of 20kW. These factors present opportunities for the growth of the global portable EV charger market.

The Chinese government has implemented substantial tax exemptions for electric vehicle purchases to encourage their adoption. In April 2020, a 10% service tax exemption was introduced to stimulate demand in the market. Consequently, the increasing use and popularity of electric vehicles, driven by supportive government schemes and incentives, are expected to boost market growth. Moreover, the rising demand for portable chargers that can provide stable power in times of need and alleviate range anxiety among users further drives market growth. Guangzhou Electway Technology Co., Ltd., a manufacturer of electric vehicle chargers, offers portable options such as DC fast EV portable charger 7KW CCS CHAdeMO portable charger and 60KW portable super EV charger for taxis, among others, catering to various applications.

The expansion of the portable EV charging industry continues to be driven by numerous government initiatives in Japan, including tax refunds, subsidies, and non-monetary benefits related to vehicle registration. In November 2021, the Japanese government doubled electric vehicle (EV) purchase incentives, offering up to $7,000. Additionally, $329 million in subsidies is planned to be allocated in the 2021 supplementary budget, which is expected to boost EV sales and further propel market growth. The lack of charging infrastructure is also a contributing factor, as indicated by the absence of charging facilities in 18 locations within a 70km distance in Japan, according to e-Mobility Power, a charging station provider. This lack of infrastructure is anticipated to drive the growth of the portable EV charger market.

The global portable EV charger market features prominent players such as JTM Power Limited, Evteq Mobility Private Limited, Heliox Energy, Guangzhou Electway Technology Co., Ltd, Blink Charging Co., Power Sonic Corporation, Shenzhen SETEC Power Co., Ltd., ZipCharge Limited, SparkCharge, and FreeWire Technologies, Inc. These companies are implementing strategies such as product launches, contracts, and expansion to strengthen their market positions.

In April 2022, Heliox Energy signed a supply agreement with PACCAR Parts to support the introduction of PACCAR electric vehicles in North America. As per the agreement, Heliox will supply mobile 25 kW and 50 kW chargers to PACCAR dealers and customers, aiding the expansion of their electric truck fleets. Furthermore, in March 2020, Blink Charging Co. announced the launch of an affordable, reliable, and portable EV charger designed to alleviate concerns related to range anxiety for potential electric vehicle drivers.

Rise in sales of electric vehicles

The heavy reliance on fossil fuels in transportation has led to increased air pollution, resulting in a rise in respiratory and other health issues globally. As a result, there is a growing demand for cleaner transportation options, leading to increased awareness, more charging opportunities, and a greater adoption of electric vehicles (EVs). The advantages offered by EVs over internal combustion vehicles (ICVs) that run on fossil fuels have contributed to their surging popularity.

EVs provide numerous benefits, including zero tailpipe emissions, reduced oil dependency, improved fuel economy, lower maintenance requirements, and an enhanced driving experience. Consequently, the sales of EVs have witnessed significant growth. For example, according to the International Energy Agency (IEA), EV sales reached 6.6 million units in 2021, and the first quarter of 2022 saw 2 million EV sales, marking a 75% increase compared to the same period in 2021.

Governments worldwide have implemented various initiatives to support the manufacturing and adoption of EVs. Developed and developing countries offer subsidies to consumers to encourage the transition to electric vehicles. In February 2022, the Indian government tripled its budget allocation for a scheme aimed at subsidizing the purchase of EVs. Such supportive government initiatives have played a crucial role in driving EV sales and are expected to contribute to the growth of the portable electric vehicle charger market.

However, the growth of the EV market has outpaced the development of charging infrastructure. The availability of charging stations is not yet widespread enough to fully support consumer adoption of this eco-friendly mode of transportation. The expansion of charging infrastructure is still in its early stages and faces various challenges, particularly in urban areas.

Additionally, the establishment of public charging infrastructure, especially fast-charging stations, requires significant capital investment and has a long payback period. According to the IEA, the growth rate of publicly accessible chargers in 2021 was 37%, which is lower than the growth rate in 2020 (45%) and the pre-pandemic rollout rate. The limited access to efficient charging stations poses a critical barrier to EV adoption.

The main barrier to widespread adoption of electric vehicles (EVs) is the issue of charging. This challenge arises from factors such as slow charging speeds, limited accessibility of chargers, high charger costs, and variability in vehicle-to-vehicle charging capabilities. Portable chargers, on the other hand, offer a solution that circumvents these challenges. They are easy to carry, affordable, and do not require installation. Electric vehicle owners can use portable chargers to charge their vehicles at any location, providing a convenient alternative when charging infrastructure is unavailable. Consequently, the lack of access to charging infrastructure is expected to drive the adoption of portable electric vehicle chargers and contribute to market growth.

Another significant obstacle in the EV charging domain is the lack of standardization. Standards play a crucial role in facilitating the development and widespread adoption of technology, ensuring market penetration and customer convenience. Standardizing charging protocols and devices is essential to attract new players to invest in charging infrastructure development and to establish robust charging networks that instill customer confidence in their EV purchase decisions. Currently, automakers often design charging solutions specific to their brands, resulting in unique charging port designs and parameters (such as voltage and current) tailored to their battery chemistry for optimal performance and longevity.

The lack of standardization in charging systems becomes apparent when considering fluctuations in charging loads and the varying compatibility between charging stations and EVs. Some charging stations may only support specific voltage types, with alternating current (AC) chargers offering 120V AC through Tier 1 chargers and 208/240V AC through Tier 2 chargers, while direct current (DC) chargers provide fast charging at 480V AC. Furthermore, emerging charging technologies such as fast charging and inductive charging solutions also necessitate proper standardization. Consequently, the absence of standardization is expected to drive the growth of the market as stakeholders recognize the need for harmonization and interoperability within the EV charging ecosystem.

Emergence of mobile charging as a service

Mobile charging services involve the provision of on-demand charging to customers' locations using portable electric vehicle chargers. Customers typically pay for these on-demand mobile charging services to meet their charging needs. This solution helps avoid the high upfront costs associated with installing fixed charging infrastructure. Mobile charging services offer flexible charging options, particularly in situations like large events where temporary charging infrastructure may be lacking.

Some mobile charging services also offer customers mobile applications through which they can request and schedule charging services. An example of this is SparkCharge, which launched its own mobile charging service called SparkCharge in May 2022. Their service vehicle arrives at the customer's location equipped with a portable charging system called the Roadie, providing DC fast charging. These advancements present significant opportunities for market growth.

During the pandemic, the demand for portable EV chargers declined due to travel restrictions and the temporary closure of electric vehicle manufacturing units. However, as lockdowns were lifted worldwide, the electric vehicle industry experienced a steady growth rate post-COVID-19. In the fiscal year 2021, electric passenger vehicle sales increased by 54% to 4,588 units compared to 3,000 units in the fiscal year 2020. Governments in various countries have implemented initiatives to promote the manufacturing and adoption of electric vehicles. The increasing adoption of electric vehicles driven by the demand for low-emission transportation contributes to the growth of the portable EV charger market.

Portable EV Charger Market Segmentations:

By Type

• AC
• DC

By Application 

• Passenger Cars
• Commercial Vehicles

By Region          

• North America  (U.S., Canada, Mexico)
• Europe  (UK, Germany, France, Italy, Rest of Europe)
• Asia-Pacific  (China, Japan, India, South Korea, Rest of Asia-Pacific)
• LAMEA  (Latin America, Middle East, Africa)

Key Benefits for Stakeholders:

• This report provides a quantitative analysis of market segments, current trends, estimations, and dynamics in the portable EV charger market from 2023 to 2030, identifying prevailing opportunities.
• The research includes information on key drivers, restraints, and opportunities to assist stakeholders in making profit-oriented business decisions and strengthening supplier-buyer networks, as highlighted by Porter's five forces analysis.
• In-depth analysis of market segmentation helps determine existing market opportunities.
• Major countries in each region are mapped based on their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the current position of market players.
• The report analyzes regional and global portable EV charger market trends, key players, market segments, application areas, and market growth strategies.