Asia Pacific (APAC) Electric Vehicle Charging Stations Market Size, Share, Opportunities, And Trends By Type Of Electric Vehicle (Battery Electric Vehicles (BEVs), Plug-In Hybrid Electric Vehicles (PHEVs)), By Application (Public, Private), And By Country - Forecasts From 2024 To 2029

The Asia Pacific (APAC) electric vehicle charging stations market is forecasted to expand at a CAGR of 28.55% to attain US$31,292.852 million by 2029, growing from US$8,914.356 million in 2024.

An electric vehicle (EV) charging station can be referred to as a hub or center that offers charging solutions for electric vehicles. The charging station is among the most key infrastructure, connecting electric vehicles to a source of electricity to charge their batteries. The Asia Pacific (APAC) EV charging station market is expected to grow significantly, with the increasing ownership of electric vehicles in the region and the government's introduction of favorable policies and investment opportunities to boost the EV infrastructure.

Increasing demand for EVs in the region is among the key factors attributed to the region’s electric vehicle charging station market growth. Consumers ' environmental awareness increased the demand for electric vehicles in the region. To serve the developing EV market across the region, the requirement for a strong and extensive charging network will grow significantly, creating a growth opportunity for the key players in the market. The introduction of major development projects and strategies by the governments of the Asia Pacific region also boosts the growth of EV charging infrastructure.

Asia Pacific (APAC) Electric Vehicle Charging Stations Market Drivers:

• Introduction of favorable governmental policies and investments.

One of the major factors pushing the Asia Pacific electric charging station market is the regional governments' introduction of policies and investment opportunities to develop the electric vehicle ecosystem. The adoption of electric or zero-emission vehicles in the Asia Pacific region is among the largest, and several new investments are planned by the governments and multinational organizations in the region to further develop the sector.

For instance, in 2023, the Government of Tamil Nadu, India, introduced the electric vehicle policy to incentivize about 750 charging stations in the state. The state government also sanctioned the development of 281 new charging stations. Similarly, the State Council of China, in June 2023, announced its strategy to establish a high-quality charging ecosystem by 2030 in the nation. This policy aims to ensure the full coverage of electric charging stations at the city and highway levels.

• Increasing demand for electric vehicles in the nation

The increasing sale of electric vehicles is also among the key factors for developing the region’s electric vehicle charging station market. The demand for electric or zero-emission vehicles in the Asia Pacific region witnessed massive growth, especially in countries like India, China, Japan, Taiwan, and South Korea. China is among the biggest producers and consumers of electric vehicles globally.

The International Energy Agency, in its global electric vehicle sales report, stated that in China, about 2.7 million units of battery electric vehicles (BEV) were sold in 2021, which significantly grew to 4.4 million units in 2022. In 2023, a total of 5.4 million units of battery-electric vehicles were sold in the nation. Similarly, the sales of BEV in Japan were recorded at 22,000 units in 2021, which grew to 59,000 in 2022, and 88,000 in 2023. India witnessed massive growth in the total sale of battery electric vehicles. In 2021, 12,000 units of BEVs were sold in India, which increased to 48,000 units in 2022 and 82,000 units in 2023.

Asia Pacific (APAC) Electric Vehicle Charging Stations Market Products Offered by Key Companies:

• TOYOTA Connected Corporation is an e-mobility subsidiary of Toyota Corporation, which offers a wide range of e-mobility services, including telematics services, digital marketing, big data, and PHV/EV charging services. In the Asia Pacific charging station market, the company offers G-Station 2, available in 4,300 locations across Japan.
• Delta Electronics is a multinational company based in Taiwan. The company offers a wide range of products, including power electronics, mobility, and infrastructure. Its solutions include industrial automation, building automation, data center, and EV charging solutions.

Asia Pacific (APAC) Electric Vehicle Charging Stations Market Key Developments:

• In April 2024, Audi AG, a global automotive manufacturer, opened its first charging hub in Japan. The hub has a capacity of up to 150 kW and four fast charging points.
• In March 2024, VinFast, a Vietnam-based automotive company, launched its electric vehicle charging company, V-Green. The V-Green company is responsible for managing and operating VinFast's existing charging network. The company also announced an additional investment of US$404 million, or VND10 trillion, to build and upgrade new stations nationwide.
• In December 2023, ABB Ltd announced that All Nippon Airways (ANA) had installed ABB fast chargers for electric vehicles at the Tokyo Haneda Airport. ANA installed the charger under the company's climate strategy initiative to reduce its carbon footprint.

The Asia Pacific (APAC) Electric Vehicle Charging Stations Market is segmented and analyzed as follows:

• By Type of Electric Vehicle
  • Battery Electric Vehicle (BEVs)
  • Plug-in Hybrid Electric Vehicle (PHEV)
• By Application
  • Public
  • Private
• By Country
  • China
  • Japan
  • Hong Kong
  • India
  • Australia
  • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

4.5. Analyst View

5. ASIA PACIFIC (APAC) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY TYPE OF ELECTRIC VEHICLE

5.1. Introduction

5.2. Battery Electric Vehicles (BEVs)

5.3. Plug-in Hybrid Electric Vehicle (PHEV)

6. ASIA PACIFIC (APAC) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION

6.1. Introduction

6.2. Public

6.3. Private

7. ASIA PACIFIC (APAC) ELECTRIC VEHICLE CHARGING STATIONS MARKET BY COUNTRY

7.1. Introduction

7.2. China

7.3. Japan

7.4. Hong Kong

7.5. India

7.6. Australia

7.7. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Statiq (Sharify Services Pvt. Ltd)

9.2. ABB Ltd

9.3. En+ Technologies

9.4. WONIK PNE CO., LTD.

9.5. Invt Electric Co.

9.6. Delta Electronics

9.7. XPENG Inc.

9.8. Shell Energy (China) Co., Ltd.

9.9. Tesla Inc.

9.10. Toyota Connected Corporation

9.11. Hyundai Motor Group

Statiq (Sharify Services Pvt. Ltd)

ABB Ltd

En+ Technologies

WONIK PNE CO., LTD.

Invt Electric Co.

Delta Electronics

XPENG Inc.

Shell Energy (China) Co., Ltd.

Tesla Inc.

Toyota Connected Corporation

Hyundai Motor Group