Mexico Electric Vehicle Charging Stations Market Size, Share, Opportunities, And Trends By Vehicle Type (Battery Electric Vehicles (BEV), Plug-In Hybrid Electric Vehicles (PHEV)), By Application (Commercial, Residential), By Charging Type (AC Charging (Level 1 And Level 2), DC Charging) - Forecasts From 2024 To 2029

Mexico's electric vehicle charging stations market is estimated at US$37.195 million in 2024 and is anticipated to expand at a CAGR of 14.53% to attain US$73.281 million by 2029.

An EV (electric vehicles) charging station is a hub or center that offers charging solutions to these vehicles. This links an EV to a power source, allowing electric vehicles, like passenger cars, two/three wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to grow significantly in Mexico, mainly with the increasing ownership of electric vehicles and the introduction of new policies and investment plants to boost the nation's EV infrastructure.

The Mexican EV charging station market is estimated to witness massive growth with the increase in the sales of electric vehicles in the nation. The sales of electric vehicles in Mexico have grown significantly over the past few years, majorly with the introduction of new technologies in the industry, offering consumers multiple benefits over the conventional automotive, like autonomous driving and comfortable driving experience. Similarly, the development of the nation’s electric vehicle charging infrastructure has also expanded, boosting the nation’s demand for EVs. Multiple governmental policies and projects assist the growth of automobile charging stations.

The Mexican charging station network is developing rapidly, aimed at attaining the nation’s sustainability goal in transportation. The Mexican government has introduced multiple policies to cut pollution and make electric vehicle mobility more accessible. Multiple charging stations are installed throughout the country, provided by several multinational companies. The growing gasoline deficit in the nation is increasing the demand for electric vehicles. 

Mexico Electric Vehicle Charging Stations Market Drivers:

• Development of the Electric Vehicle Infrastructure

One of the main requirements for the efficient operations of the electric vehicle fleet is the easy availability of charging stations nationwide. The government of Mexico has introduced multiple investment opportunities and projects that are aimed at developing the nation's commercial EV fleet market and boosting the nation’s EV charging station market. For further development, the President of Mexico also announced in their speech that the nation is aiming to achieve about 50% of the zero-emission vehicle production by 2030.

In some parts of Mexico, commercial charging stations are still few, requiring users to rely on charging choices accessible at their workplaces and homes. In addition, the increasing number of electric cars may impact charging station performance, such as the amount of power generated, the transformer load level, and the load curve. Furthermore, the high cost of installing wireless chargers may hinder the market's growth.

• Increasing Sales of Electric Vehicles

Another major factor estimated to push the Mexican electric vehicle charging station market is the increasing EV sales in the country. The Mexican EV market has witnessed massive growth over the past few years, mainly due to the introduction of multiple initiatives and policies nationwide. The International Energy Agency, in its report, stated that in 2023, the sales of electric vehicles in Mexico grew over 80% from the past year, with about 15,000 EV registrations.

Mexico Electric Vehicle Charging Stations Market Products Offered by Key Companies:

• ABB is among the global leaders in electrification and automation, and it caters to multiple industries, like aluminum, power generation, chemicals, and solar power, among others. The company's products include control room solutions, PLC automation, robotics, medium voltage products, and industrial software. The company offers multiple EV charging infrastructure solutions, such as AC destination, DC fast, DC high power all-in-one, V2G, and HVC 360, among others.
• Tesla Inc. is among the biggest electric vehicle manufacturers worldwide. It offers various types of electric vehicles, such as the Model S, Model 3, Model X, and Cybertruck. The company also offers energy solutions like Megapack and Powerwall. It operates its charging stations in multiple locations in Mexico, including Aguascalientes, Baja California, and Benito Juarez.

Mexico Electric Vehicle Charging Stations Market Key Developments:

• In September 2023, Jaguar announced that the company had signed an agreement with Tesla, which will provide Jaguar access to more than 12,000 Tesla Superchargers across North America. The company will provide access to North American Charging Standard (NACS) connectors in the USA, Canada, and Mexico.

The Mexican Electric Vehicle Charging Stations Market is segmented and analyzed as follows:

• By Vehicle type
  • Battery Electric Vehicle (BEVs)
  • Plug-in Hybrid Electric Vehicle (PHEV)
• By Application
  • Commercial
  • Residential
• By Charging type
  • AC Charging (Level 1 and Level 2)
  • DC Charging

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. MEXICO ELECTRIC VEHICLE CHARGING STATIONS MARKET BY VEHICLE TYPE 

5.1. Introduction

5.2. Battery Electric Vehicles (BEVs)

5.3. Plug-in Hybrid Electric Vehicle (PHEV)

6. MEXICO ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION

6.1. Introduction

6.2. Commercial

6.3. Residential

7. MEXICO ELECTRIC VEHICLE CHARGING STATIONS MARKET BY CHARGING TYPE

7.1. Introduction

7.2. AC Charging (Level 1 and Level 2)

7.3. DC Charging

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. ABB Ltd.

9.2. Bosch Automotive Service Solutions Inc.

9.3. Schneider Electric

9.4. Tesla Inc.

9.5. Shell recharge

9.6. Blink Charging Co.

9.7. Evergo

9.8. VEMO

9.9. XC Power

ABB Ltd. 

Bosch Automotive Service Solutions Inc.

Schneider Electric 

Tesla Inc. 

Shell recharge 

Blink Charging Co. 

Evergo 

VEMO 

XC Power