Market Share of Electric Vehicle Charging Station Industry
The electric vehicle charging station market is fairly consolidated. The market is led by a few companies, such as the State Grid Corporation of China, ABB, Siemens, Qingdao Tgood Electric Co., Ltd, and Tesla Inc.
Several Players are partnering with the government to develop charging infrastructure. For instance,
- In November 2022, Yulu signed an MoU (memorandum of understanding) with the Karnataka government and announced its plans to invest INR 12 billion in deploying a fleet of 100,000 electric vehicles (EV) and operationalizing the state's largest EV battery charging and swapping infrastructure over the next five years.
- In October 2022, the Luxembourg government announced that 29 projects were chosen following the first call for projects granting financial aid to companies investing in charging infrastructure projects for electric vehicles. The companies involved will receive a subsidy of up to 50% on investments related to the deployment of charging stations with a charging capacity of at least 175 kilowatts.
Moreover, companies are also indulging in strategic partnerships with other players for charging infrastructure and stations. For instance;
- In April 2021, Siemens Limited and the Hinduja group's Switch Mobility Automotive Limited signed a memorandum of understanding (MoU) to enter the Indian electric commercial vehicles segment.
- In March 2021, BP joined BMW Group and Daimler Mobility as a partner in digital charging solutions to drive electrification. BP will become a partner, along with BMW Group and Daimler Mobility in Digital Charging Solutions (DCS), one of Europe's leading developers of digital charging solutions for automotive manufacturers and vehicle fleet operators.
Electric Vehicle (EV) Charging Station Market Leaders
ABB
Siemens AG
State Grid Corporation of China
Tesla Inc.
TGOOD Global Ltd
*Disclaimer: Major Players sorted in no particular order