North America Electric Vehicle Fast Charging System Market (2024-2030) | Analysis, Size, Revenue, Trends, Growth, Forecast, Industry, Outlook, Value & Segmentation

Market Forecast By Types (Electric Light-Duty Vehicles (LDVs) Fast Charging Systems and Electric Bus Fast Charging Systems), By Applications (Private Electric Vehicle Fast Charging System and Public Electric Vehicle Fast Charging System), By Countries (US and Canada) and Competitive Landscape

Product Code: ETC000797 Publication Date: Dec 2023 Updated Date: Jan 2024 Product Type: Report
Publisher: 6Wresearch No. of Pages: 70 No. of Figures: 35 No. of Tables: 5

Topics Covered in the North America Electric Vehicle Fast Charging System Market Report

The North America Electric Vehicle Fast Charging System Market report thoroughly covers the market by type, by application and by countries. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

North America Electric Vehicle Fast Charging System Market Synopsis

The shift towards clean energy and sustainability has been a focal point for many countries worldwide, and the use of electric vehicles (EVs) has been at the forefront of this movement. This shift has not been limited to personal vehicles, but has also extended to heavy-duty vehicles, such as buses and trucks. However, the mass adoption of EVs has been hindered by the lack of fast charging infrastructure. Statistics show that over 80% of EV charging occurs at home, which limits travel to the EVs specified range. The gap can be bridged by the establishment of fast-charging systems in shared or public areas. Additionally, the North American EV fast charging system market is evolving. The market is shifting towards developing more innovative charging infrastructure as EV tech advances. There is an increasing need for wireless charging, solar-powered charging stations, and automated charging stations that require minimal human intervention. Another trend that is picking up is vehicle-to-grid (V2G) systems. V2G systems gain momentum as they allow EV owners to interact with the grid by charging during periods of low demand and discharging when demand reaches peak levels. Further, despite the growth of the North American electric vehicle fast charging system industry, there are still significant challenges. One of the most significant challenges is the cost of development. Building EV fast-charging stations requires considerable investment, and the federal government incentives only cover a portion of the cost. Besides, the long wait times for charging at peak hours have also been a hurdle. The increasing demand for charging stations has led to lines and often causes frustration for those waiting for services. This issue calls for a need to upgrade the technology and capacity of the charging stations affordably, efficiently, and quickly.

According to 6Wresearch, North America Electric Vehicle Fast Charging System market size is projected to grow at a CAGR of 9.8% during 2024-2030. The increasing demand for EVs and government incentives to improve EV adoption has led to significant investment in the development of charging infrastructures. The United States has some of the highest numbers of EV fast-charging infrastructures in the world. Reports suggest that there are over 30,000 charging stations in the United States, with over 1000 of them being fast-charging stations. However, the number is still inadequate, and there is a need for more investment and development to match the growth of the EV market. Additionally, innovation is key to driving growth in the electric vehicle industry. As consumers demand more efficient and reliable electric vehicles, manufacturers have been forced to develop new technologies to meet these demands. Fast-charging systems are one such technology that has been developed in recent years. These systems enable electric vehicles to recharge faster than traditional charging systems, making electric vehicles a more practical option for long-distance travel. Innovations in charging infrastructure have also been happening, with the development of sophisticated charging stations equipped with renewable energy sources. Moreover, corporations have shown significant interest in the electric vehicle market. In recent years, several companies have announced ambitious plans to electrify their fleets, with a focus on long-range electric vehicles. These large corporate investments have helped incentivize the development of more charging infrastructure across the continent, thereby making electric vehicles more practical and accessible. Additionally, corporations have made significant investments in battery technology, creating more efficient and reliable electric vehicles.

Government Initiatives Introduced in the North America Electric Vehicle Fast Charging System Market

Government initiatives and regulations play a critical role in driving the growth of the electric vehicle industry. In North America, governments have increased their efforts to promote the use of electric vehicles as a way to reduce carbon emissions and improve air quality. This has led to the implementation of various incentives, tax credits, and other financial assistance programs, which have spurred the growth of the electric vehicle market. Also, these actions have further enhanced the North America Electric Vehicle Fast Charging System Market Share. Furthermore, the governments have initiated programs to fund the establishment of a network of fast-charging stations across the continent, enabling electric vehicles to travel long distances with ease.

Key Players in the North America Electric Vehicle Fast Charging System Market

Some of the key players include Tesla, ChargePoint and Flo. Additionally, few remarkable establishments occupy weighty North America Electric Vehicle Fast Charging System Market Revenues. The electric vehicle fast charging system market is expanding rapidly in North America. It offers EV owners the ease of charging their vehicles as quickly and efficiently as possible. The EV charging system market is currently wide open for all relevant parties, including innovative start-ups and established companies. From Tesla's Supercharger Network to ChargePoint customizable charging system, there are various options available to meet consumer demands. This market brings excellent opportunities for stakeholders to meet the infrastructural needs of the rising popularity of EVs while remaining environmentally sustainable.

Market by Application

According to Ravi Bhandari, Research Head, 6Wresearch, the North American electric vehicle fast charging system market has been expanding rapidly to cater to both private and public applications. Additionally, a private electric vehicle fast charging system is designed for personal use, typically in residential areas. These systems operate at a lower power output, which saves on energy costs and prolongs the life of the vehicle's battery. These systems take several hours to charge an electric vehicle completely. They are installed in garages or outdoor spaces close to the home. Most electric vehicle manufacturers offer private charging stations that are compatible with their respective electric vehicles. Further, the public electric vehicle fast charging systems are designed to provide rapid charging for vehicles when using public parking spaces. These systems operate at a higher power output than private charging systems, sufficient to charge a vehicle in about 20 to 40 minutes. Public charging stations are installed in locations such as parking lots, urban areas or service stations. These stations charge a fee to use, and users can either swipe a credit card or register for an account to access the system.

Market by Countries

The North American Electric Vehicle Fast Charging System Market is poised for significant growth in the coming years, with the US, Canada, and Mexico emerging as key performing countries. The U.S. is one of the key performing countries in this market, accounting for a significant share of the region's market. Further, these activities will further increase the United States Electric Vehicle Fast Charging System market share over the coming years. Also, states like California, Washington, and New York have emerged as leaders in the electric vehicle market, with each pursuing ambitious decarbonization goals. California aims to have at least 250,000 electric vehicle charging outlets installed across the state by 2029. Moreover, clean energy policies, government initiatives, and growing demand for electric vehicles will continue to drive this market forward. As the electric vehicle market continues to grow, it's essential that we have the infrastructure to support it, and the increasing growth of the electric vehicle fast charging system market is a positive step in the right direction.

Key Attractiveness of the Report

  • COVID-19 Impact on the Market.
  • 10 Years Market Numbers.
  • Historical Data Starting from 2020 to 2023.
  • Base Year: 2023
  • Forecast Data until 2030.
  • Key Performance Indicators Impacting the Market.
  • Major Upcoming Developments and Projects.

Key Highlights of the Report:

  • North America Electric Vehicle Fast Charging System Market Overview
  • North America Electric Vehicle Fast Charging System Market Outlook
  • North America Electric Vehicle Fast Charging System Market Forecast
  • Historical Data of North America Electric Vehicle Fast Charging System Market Revenues & Volume for the Period 2020-2030
  • North America Electric Vehicle Fast Charging System Market Size and North America Electric Vehicle Fast Charging System Market Forecast of Revenues & Volume, Until 2030
  • Historical Data of North America Electric Vehicle Fast Charging System Market Revenues and Volume, By Type, for the Period 2020-2030
  • Market Size & Forecast of North America Electric Vehicle Fast Charging System Market Revenues and Volume, By Type, Until 2030
  • Historical Data of North America Electric Vehicle Fast Charging System Market Revenues and Volume, By Application, for the Period 2020-2030
  • Market Size & Forecast of North America Electric Vehicle Fast Charging System Market Revenues and Volume, By Application, Until 2030
  • Historical Data of United States Electric Vehicle Fast Charging System Market Revenues and Volume, for the Period 2020-2030
  • Market Size & Forecast of United States Electric Vehicle Fast Charging System Market Revenues and Volume, Until 2030
  • Historical Data of Canada Electric Vehicle Fast Charging System Market Revenues and Volume, for the Period 2020-2030
  • Market Size & Forecast of Canada Electric Vehicle Fast Charging System Market Revenues and Volume, Until 2030
  • Market Drivers and Restraints
  • North America Electric Vehicle Fast Charging System Market Price Trends
  • North America Electric Vehicle Fast Charging System Market Trends and Industry Life Cycle
  • Porter’s Five Force Analysis
  • Market Opportunity Assessment
  • North America Electric Vehicle Fast Charging System Market Share, By Countries
  • North America Electric Vehicle Fast Charging System Market Share, By Players
  • North America Electric Vehicle Fast Charging System Market Overview on Competitive Benchmarking
  • Company Profiles
  • Key Strategic Recommendations

Markets Covered

The North America Electric Vehicle Fast Charging System Market report provides a detailed analysis of the following market segments:

By Type:

  • Electric Light-Duty Vehicles (LDVs) Fast Charging System
  • Electric Bus Fast Charging System

By Application:

  • Private Electric Vehicle Fast Charging System
  • Public Electric Vehicle Fast Charging System

By Countries:

  • United States
  • Canada
North America Electric Vehicle Fast Charging System Market (2024-2030): FAQs
The increasing demand for EVs and government incentives to improve EV adoption has led to significant investment in the development of charging infrastructures.
A private electric vehicle fast charging system is designed for personal use, typically in residential areas. These systems operate at a lower power output, which saves on energy costs and prolongs the life of the vehicle's battery.
The United States is one of the key performing countries in this market, accounting for a significant share of the region's market.
Some of the key players include Tesla, ChargePoint and Flo.
Yes, we have covered a detailed impact of the Covid 19 pandemic in this study.
Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com
1 Executive Summary
2 Introduction
2.1 Report Description
2.2 Key Highlights of The Report
2.3 Market Scope & Segmentation
2.4 Research Methodology
2.5 Assumptions
3 North America Electric Vehicle Fast Charging System Market Overview
3.1 North America Electric Vehicle Fast Charging System Market Revenues & Volume, 2020-2030F
3.2 North America Electric Vehicle Fast Charging System Market Revenue Share, By Types, 2020 & 2030F
3.3 North America Electric Vehicle Fast Charging System Market Revenue Share, By Applications, 2020 & 2030F
3.6 North America Electric Vehicle Fast Charging System Market Revenue Share, By Countries, 2020 & 2030F
3.7 North America Electric Vehicle Fast Charging System Market Industry Life Cycle
3.8 North America Electric Vehicle Fast Charging System Market- Porter's Five Forces, 2023
4 North America Electric Vehicle Fast Charging System Market Dynamics
4.1 Impact Analysis
4.2 Market Drivers
4.3 Market Restraints
5 North America Electric Vehicle Fast Charging System Market Trends
6 North America Electric Vehicle Fast Charging System Market Overview, By Types
6.1 North America Electric Vehicle Fast Charging System Market Revenues & Volume,
By Electric Light-Duty Vehicles, 2020-2030F
6.2 North America Electric Vehicle Fast Charging System Market Revenues & Volume, By Electric Bus, 2020-2030F
7 North America Electric Vehicle Fast Charging System Market Overview, By Applications
7.1 North America Electric Vehicle Fast Charging System Market Revenues & Volume, By Public, 2020-2030F
7.2 North America Electric Vehicle Fast Charging System Market Revenues & Volume, By Private, 2020-2030F
8 US Electric Vehicle Fast Charging System Market Overview
8.1 US Electric Vehicle Fast Charging System Market Revenues & Volume, 2020-2030F
8.2 US Electric Vehicle Fast Charging System Market Revenues & Volume, By Types, 2020-2030F
8.3 US Electric Vehicle Fast Charging System Market Revenues & Volume, By Applications, 2020-2030F
9 Canada Electric Vehicle Fast Charging System Market Overview
9.1 Canada Electric Vehicle Fast Charging System Market Revenues & Volume, 2020-2030F
9.2 Canada Electric Vehicle Fast Charging System Market Revenues & Volume, By Types, 2020-2030F
9.3 Canada Electric Vehicle Fast Charging System Market Revenues & Volume, By Applications, 2020-2030F
10 Rest of North America Electric Vehicle Fast Charging System Market Overview
10.1 Rest of North America Electric Vehicle Fast Charging System Market Revenues & Volume, 2020-2030F
11 North America Electric Vehicle Fast Charging System Market Opportunity Assessment
11.1 North America Electric Vehicle Fast Charging System Market Opportunity Assessment, By Types, 2029F
11.2 North America Electric Vehicle Fast Charging System Market Opportunity Assessment, By Applications, 2029F
12 North America Electric Vehicle Fast Charging System Market Competitive Landscape 
12.1 North America Electric Vehicle Fast Charging System Market Revenue Share, By Companies, 2023
12.1.1 US Electric Vehicle Fast Charging System Market Revenue Share, By Companies, 2023
12.1.2 Canada Electric Vehicle Fast Charging System Market Revenue Share, By Companies, 2023
12.2 North America Electric Vehicle Fast Charging System Market, Competitive Benchmarking, 2023
12.3 North America Electric Vehicle Fast Charging System Market, Operating Parameters, 2023
13 Company Profiles
14 Strategic Recommendations
15 Disclaimer

Global Electric Vehicle Fast Charging System Market (2019-2025): Market Forecast By Types (Electric Light-Duty Vehicles (LDVs) Fast Charging Systems and Electric Bus Fast Charging Systems), By Applications (Private Electric Vehicle Fast Charging Systems and Public Electric Vehicle Fast Charging System), By Regions (North America, Europe, Asia-Pacific and Rest of the World), By Key Countries and Competitive Landscape

Middle East Electric Vehicle Fast Charging System Market (2019-2025): Market Forecast By Types (Electric Light-Duty Vehicles (LDVs) Fast Charging Systems and Electric Bus Fast Charging Systems), By Applications (Private Electric Vehicle Fast Charging Systems and Public Electric Vehicle Fast Charging System), By Countries (UAE, Saudi Arabia, Jordon and Rest of the Middle East) and Competitive Landscape

Europe Electric Vehicle Fast Charging System Market (2019-2025): Market Forecast By Types (Electric Light-Duty Vehicles (LDVs) Fast Charging Systems and Electric Bus Fast Charging Systems), By Applications (Private Electric Vehicle Fast Charging System and Public Electric Vehicle Fast Charging System), By Countries (Germany, Italy, France, United Kingdom, Russia and Rest of Europe) and Competitive Landscape

Asia Pacific (APAC) Electric Vehicle Fast Charging System Market (2019-2025): Market Forecast By Types (Electric Light-Duty Vehicles (LDVs) Fast Charging Systems and Electric Bus Fast Charging Systems), By Applications (Private Electric Vehicle Fast Charging Systems and Public Electric Vehicle Fast Charging System), By Countries (India, Japan, China, Australia, South Korea and Rest of the APAC Region) and Competitive Landscape

 

Market Forecast By Types (Electric Light-Duty Vehicles (LDVs) Fast Charging Systems and Electric Bus Fast Charging Systems), By Applications (Private Electric Vehicle Fast Charging System and Public Electric Vehicle Fast Charging System), By Countries (US and Canada) and Competitive Landscape

Product Code: ETC000797 Publication Date: Sep 2021 Product Type: Report
Publisher: 6Wresearch No. of Pages: 200 No. of Figures: 90 No. of Tables: 30

Latest 2023 Developments of the North America Electric Vehicle Fast Charging System Market

North America Electric Vehicle Fast Charging System Market has seen the latest innovations which include the development of solar-powered charging stations and other green techniques to reduce the environmental impact of EVs. In addition, technologies, such as Radio Frequency Identification (RFID) and Near-Field Communication (NFC), have enabled the installation of interactive, kiosk-based, and self-operated charging stations within highway charging stations. Recently, Transport Canada initiated a national purchase incentive program for electric vehicles. This program states that people who purchase plug-in hybrid vehicles are eligible for an incentive applied at the point of sale by the dealership. Thus, increasing the adoption of electric vehicles.

Mergers and Acquisitions:

  • On November 4, 2020, Delta announced that it had closed the acquisition of Trihedral Engineering Limited
  • On April 1, 2021, Eltek Australia and Delta Electronics officially merged, as part of their longstanding integration.

North America Electric Vehicle Fast Charging System Market Synopsis

High disposable income, consumer acceptance, availability of EV charging infrastructure, and growing push from the government are the major drivers for the North America Electric Vehicle Fast Charging System market.

According to 6Wresearch, the North America Electric Vehicle Fast Charging System Market size is anticipated to register growth during 2019-2025. In the overall North America Electric Vehicle Fast Charging System Market share, the US has captured a major pie in 2018 and is expected to lead over the coming years. Over the forecast period, the penetration of electric vehicles would increase further due to the launch of new models, declining prices, and technological advancement in the existing infrastructure.

On the basis of application, the market can be broadly categorized into public electric vehicle fast-charging systems and private electric vehicle fast-charging systems. The public charging segment dominated the market in 2018 and is expected to lead the market throughout the forecast period owing to the rise in investments by the government in eco-friendly solutions compared to traditional fuel vehicles.

The North America Electric Vehicle Fast Charging System Market report thoroughly covers the market by type, application, country, and key countries. The North America Electric Vehicle Fast Charging System Market outlook report provides an unbiased and detailed analysis of the ongoing North America Electric Vehicle Fast Charging System Market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics

North America Electric Vehicle Fast Charging System is connected to the electric vehicle (EV) power source recharging electric cars. The innovation of new charging stations such as smart metering, and connectivity to the network. The onboard convert charging at the job and home is plugged into the conventional electrical outlet. There are many charging stations having a new features such as tracking, security, and conversion. Day by day increasing in the electric vehicle fast-charging extension participated in the development of the economy. In North America based on the electric vehicle fast-charging system is classified as one charging level, two charging levels, and three charging levels. The electric vehicle fast-charging system has different powered batteries, electric vehicles and electric motors these all are available with different capabilities and different ranges in the North America fast-charging market. North America is considered the largest market followed by many countries for the vehicle fast-charging system market. The growth of the market is based on the existing vehicle by a followed different modes of transport and by establishing a charging infrastructure network.

The North America Electric Vehicle Charging Infrastructure Market is expected to witness robust growth on the back of the high adoption rate of electric vehicles across the region. Moreover, various incentives provided by the government of in the form of rebates and subsidies to increase the sale of electric vehicles in the developed countries across the region are further anticipated to propel the North America Electric Vehicle Charging Infrastructure Market in the coming years.  The United States of America Electric Vehicle Charging Infrastructure Market is leading across the region with a sound Electric Vehicle charging infrastructure in the country. Several strategies implemented in the country to boost the sales of electric vehicles coupled with stringent laws regarding the use of fuel-generated vehicles are projected to drive the United States of America electric vehicle charging infrastructure market in the coming years. The implementation of the Senate Bill under the Electric Vehicle Charging Infrastructure Open Access Act, implemented in the United States of America is further an example of a strategic plan adopted by the government of the country to improve the growth of electric mobility in the country. The Electric Vehicle Charging Infrastructure Market is hence, expected to provide huge growth avenues to the desired investors in the coming years.

Key Highlights of the Report:

• North America Electric Vehicle Fast Charging System Market Overview
• North America Electric Vehicle Fast Charging System Market Outlook
• North America Electric Vehicle Fast Charging System Market Forecast
• Historical Data of North America Electric Vehicle Fast Charging System Market Revenues & Volume for the
  Period 2015-2018
• North America Electric Vehicle Fast Charging System Market Size and North America Electric Vehicle Fast
  Charging System Market Forecast of Revenues & Volume, Until 2025
• Historical Data of North America Electric Vehicle Fast Charging System Market Revenues and Volume, By Type,
  for the Period 2015-2018
• Market Size & Forecast of North America Electric Vehicle Fast Charging System Market Revenues and Volume,
  By Type, Until 2025
• Historical Data of North America Electric Vehicle Fast Charging System Market Revenues and Volume,
  By Application, for the Period 2015-2018
• Market Size & Forecast of North America Electric Vehicle Fast Charging System Market Revenues and Volume,
  By Application, Until 2025
• Historical Data of US Electric Vehicle Fast Charging System Market Revenues and Volume, for the Period 2015-2018
• Market Size & Forecast of US Electric Vehicle Fast Charging System Market Revenues and Volume, Until 2025
• Historical Data of Canada Electric Vehicle Fast Charging System Market Revenues and Volume, for the
  Period 2015-2018
• Market Size & Forecast of Canada Electric Vehicle Fast Charging System Market Revenues and Volume, Until 2025
• Market Drivers and Restraints
• North America Electric Vehicle Fast Charging System Market Price Trends
• North America Electric Vehicle Fast Charging System Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• North America Electric Vehicle Fast Charging System Market Share, By Countries
• North America Electric Vehicle Fast Charging System Market Share, By Players
• North America Electric Vehicle Fast Charging System Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The North America Electric Vehicle Fast Charging System Market report provides a detailed analysis of the following market segments:

By Types:

  • Electric Light-Duty Vehicles (LDVs) Fast Charging System
  • Electric Bus Fast Charging System

By Applications:

  • Private Electric Vehicle Fast Charging System
  • Private Electric Vehicle Fast Charging System

By Countries:

  • US
  • Canada

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