The electric vehicle charger market size was evaluated at USD 14.75 billion in 2024 and is expected to attain around USD 174.09 billion by 2034 at a CAGR of 28%.
Electric Vehicle Charger Market Key Points
- In 2024, Asia Pacific dominated the global market, accounting for the largest share of 38%.
- Based on vehicle type, the plug-in hybrid vehicle (PHEV) segment held the leading market share during the year.
- Among charging types, the on-board segment generated the highest revenue share in 2024.
- In terms of end use, the residential segment recorded the greatest market share in 2024.
How is AI Transforming the Electric Vehicle Charger Market?
Artificial Intelligence (AI) is playing a pivotal role in optimizing electric vehicle (EV) charging infrastructure. AI algorithms enable smart energy management by analysing real-time data on energy demand, electricity prices, and user behaviour. This facilitates predictive charging schedules, reduces grid load during peak hours, and ensures efficient distribution of power. Additionally, AI supports dynamic pricing models and enhances the decision-making process for both EV users and charging station operators.
Moreover, AI-driven diagnostics and maintenance systems help monitor the health and performance of EV chargers, minimizing downtime and operational costs. Through machine learning, AI can detect anomalies, predict component failures, and trigger automated responses to prevent malfunctions. AI is also enhancing user experience by integrating with mobile apps and IoT platforms to offer personalized charging suggestions, route planning to nearby stations, and real-time availability updates.
Regional Landscape of the Electric Vehicle Charger Market
Asia Pacific is the dominant region in the global EV charger market, with an estimated market size of USD 7.17 billion in 2025 and a projected value of USD 66.15 billion by 2034, growing at a CAGR of 27.98%. This region’s leadership is driven by rapid expansion of charging infrastructure and surging demand for electric vehicles, particularly in populous and developing countries such as China and India. Government initiatives in China, South Korea, and Japan to increase charging station numbers are further propelling market growth.
Europe is the second-largest market for EV chargers.
The region benefits from stringent environmental regulations, high consumer adoption of EVs, and strong government support for clean mobility. Increased awareness of carbon emissions, higher disposable incomes, and improved living standards are fuelling both EV sales and the demand for charging infrastructure. As a result, Europe is expected to see robust growth in the EV charger market over the coming years.
While Asia Pacific and Europe lead the global market, North America, Latin America, and the Middle East & Africa are also experiencing growth, albeit at a slower pace. In North America, government incentives and technological advancements are supporting market expansion. Latin America and the Middle East & Africa are in earlier stages of EV adoption, but increasing government initiatives and investments in charging infrastructure are expected to drive future growth in these regions
Segmental Outlook of Electric Vehicle Charger Market
Vehicle Type: Plug-in Hybrids Lead, Battery EVs Set for Fastest Growth
The plug-in hybrid electric vehicle (PHEV) segment led the global EV charger market in 2024, primarily due to strong government incentives and increasing production by major manufacturers. However, the battery electric vehicle (BEV) segment is projected to experience the highest growth rate over the forecast period. This is attributed to technological advancements in batteries, declining battery prices, and a higher presence of BEVs in the market, which is expected to drive demand for EV chargers.
Charging Type: On-Board Chargers Dominate, Off-Board Chargers Gain Momentum
On-board chargers dominated the market in 2024, favoured for their compatibility with widely available AC power and convenience for urban users. Off-board chargers, which offer rapid charging at public stations, are gaining traction as demand for quick charging solutions rises, especially in public and commercial settings. The growth of off-board chargers is supported by the expansion of public charging infrastructure and the need for faster charging in modern lifestyles.
End User: Residential Segment Leads, Commercial Segment Grows Fastest
The residential segment was the most dominant in 2024, driven by the widespread adoption of on-board chargers for home use. Most users prefer overnight charging at home. However, the commercial segment is expected to be the fastest growing, fueled by increasing investments in public charging stations and rising government initiatives to expand charging infrastructure in commercial spaces
Role of Companies in the Electric Vehicle Charger Market
- ABB Ltd.
ABB is a global leader in EV charging, known for fast-charging systems and strong presence in both commercial and urban infrastructure. The company focuses on grid integration and partners with governments to expand public EV charging. - Robert Bosch GmbH
Bosch offers a range of EV charging solutions, including home and public chargers. The company emphasizes smart, connected charging infrastructure and advanced energy management. - Siemens AG
Siemens provides various charging solutions, from home chargers to high-power public stations. The company is recognized for intelligent energy management and digital solutions for scalable charging infrastructure. - Delphi Automotive
Delphi Technologies (now part of BorgWarner) offers components and systems for EV charging, including power conversion and management solutions for reliable charging infrastructure. - Chroma ATE Inc.
Chroma ATE supplies EV charging equipment and test instruments, supporting manufacturers and operators in ensuring product reliability and compliance. - Aerovironment Inc.
Aerovironment, now operating under Webasto, is known for residential and workplace charging systems, such as portable Level 1 and Level 2 chargers. The company has a strong presence in the U.S. market and partners with utilities. - Silicon Laboratories
Silicon Laboratories provides semiconductor solutions for smart energy management, including wireless connectivity and power management chips used in EV charging stations. - Chargemaster PLC (BP Pulse)
Chargemaster, now BP Pulse, is a leading provider of public and private EV charging infrastructure in the UK, operating thousands of public charging points and integrating with BP’s energy network. - Schaffner Holdings AG
Schaffner specializes in electromagnetic compatibility (EMC) components and power quality solutions, ensuring safe and efficient operation of EV chargers. - POD Point
POD Point offers a range of EV charging solutions for home, workplace, and public use, recognized for user-friendly charging products and software platforms.
Latest Breakthroughs in Electric Vehicle Charger Market
- In May 2025, EVRE, a leading electric vehicle (EV) charging infrastructure company, inaugurated a new manufacturing facility in Hyderabad dedicated solely to the production of EV chargers. This significant expansion enhances the company’s standalone manufacturing capacity, enabling it to cater more effectively to both domestic and international markets.
