Portable EV Charger Market Analysis By Type (AC portable EV chargers and DC portable EV chargers), By Application (residential and commercial applications), By Power output (1-5 kW, 5-10 kW, and more than 10 kW), By End-user (individual users, fleet operators, and rental companies), By Distribution channel (distribution channel, such as online sales and offline sales) & Forecast 2024-2035
- PUBLISHED ON
- 4/14/2023
- NO OF PAGES
- 262
- CATEGORY
- Automotive & Transportation
The global portable EV charger market size was valued at around USD 623.13 million in 2021 and is expected to grow at a CAGR of 24.8% during the forecast period.
Covid-19 Impact:
The COVID-19 pandemic has had a mixed impact on the global portable EV charger market. Some of the ways in which the pandemic has affected the market include:
Disruption in supply chain: The pandemic has disrupted supply chains across the globe, leading to delays in the production and delivery of portable EV chargers.
Slowdown in EV sales: The pandemic has led to a slowdown in the sales of electric vehicles, which in turn has impacted the demand for portable EV chargers.
Increase in demand for personal transportation: With public transportation systems disrupted in many parts of the world, there has been an increase in demand for personal transportation options, including electric vehicles. This has resulted in a corresponding increase in the demand for portable EV chargers.
Shift in consumer behavior: The pandemic has led to a shift in consumer behavior, with many people choosing to work from home and avoid unnecessary travel. This has led to a decrease in the demand for portable EV chargers for daily commuting, but an increase in the demand for chargers for weekend travel and outdoor activities.
Government stimulus packages: Governments around the world have introduced various stimulus packages to support economic recovery, many of which include incentives for the adoption of electric vehicles. These incentives are expected to drive the demand for portable EV chargers in the coming years.
Overall, while the pandemic has had a negative impact on the portable EV charger market in the short term, the long-term outlook for the market remains positive, driven by increasing adoption of electric vehicles and government initiatives to promote clean energy.
Market Dynamics:
Drivers:
Increasing adoption of electric vehicles: The adoption of electric vehicles is growing rapidly, driven by government incentives, rising fuel prices, and environmental concerns. As the number of electric vehicles on the road increases, the demand for portable EV chargers is expected to rise.
Convenience and flexibility: Portable EV chargers offer the convenience and flexibility of being able to charge an electric vehicle anywhere with access to a standard electrical outlet. This is particularly useful for drivers who do not have access to home or public charging stations, or who need to charge their EV while traveling.
Growing demand for personal transportation: The COVID-19 pandemic has led to a shift in consumer behavior, with many people choosing to avoid public transportation and opting for personal transportation options, such as electric vehicles. This has led to an increase in the demand for portable EV chargers.
Government initiatives and incentives: Governments around the world are introducing various initiatives and incentives to promote the adoption of electric vehicles and reduce greenhouse gas emissions. These initiatives are expected to drive the demand for portable EV chargers in the coming years.
Technological advancements: The development of new and more efficient portable EV chargers is expected to increase the adoption of electric vehicles and drive the growth of the market.
Restraints:
Limited charging speed: Portable EV chargers typically have a lower charging speed compared to home or public charging stations. This can make it inconvenient for drivers who need to charge their EV quickly.
Limited range of electric vehicles: Electric vehicles currently have a limited range compared to traditional gasoline vehicles. This means that drivers may need to charge their EV more frequently, which could lead to a higher demand for portable EV chargers. However, this also limits the use of electric vehicles for long-distance travel.
High cost: Portable EV chargers can be more expensive compared to traditional charging stations, which could limit their adoption by consumers.
Regional Analysis:
North America: North America is expected to be a significant market for portable EV chargers, driven by the growing adoption of electric vehicles, government incentives, and increasing demand for personal transportation. The United States and Canada are expected to be the major markets in this region.
Europe: Europe is also expected to be a significant market for portable EV chargers, driven by government initiatives to promote the adoption of electric vehicles and reduce greenhouse gas emissions. Germany, the United Kingdom, France, and the Netherlands are expected to be the major markets in this region.
Asia-Pacific: The Asia-Pacific region is expected to be the fastest-growing market for portable EV chargers, driven by the growing adoption of electric vehicles in countries such as China, Japan, South Korea, and India. The region is also expected to benefit from government initiatives to promote clean energy and reduce air pollution.
Latin America: Latin America is expected to be a small but growing market for portable EV chargers, driven by government incentives and increasing adoption of electric vehicles in countries such as Brazil and Mexico.
Middle East and Africa: The Middle East and Africa are expected to be small but growing markets for portable EV chargers, driven by government initiatives to promote clean energy and reduce dependence on fossil fuels.
Market Segmentation:
Type: The market can be segmented into AC portable EV chargers and DC portable EV chargers.
Application: The market can be segmented into residential and commercial applications.
Power output: The market can be segmented based on the power output of the charger, such as 1-5 kW, 5-10 kW, and more than 10 kW.
End-user: The market can be segmented by end-user, such as individual users, fleet operators, and rental companies.
Distribution channel: The market can be segmented by distribution channel, such as online sales and offline sales.
Region: The market can be segmented by region, including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa.
Competitive Landscape:
The global portable EV charger market is highly competitive, with many players operating in the market.
ChargePoint Inc.
Bosch Automotive Service Solutions Inc.
Webasto Group
EVBox
ClipperCreek Inc.
AeroVironment Inc.
Delta Electronics Inc.
Schneider Electric SE
Siemens AG
Huawei Technologies Co. Ltd.
These companies are focusing on developing innovative portable EV chargers with faster charging speeds, higher power outputs, and advanced features such as wireless connectivity and smart charging capabilities. They are also expanding their distribution networks and partnerships with EV manufacturers and service providers to reach a wider customer base.
In addition to these major players, there are many other companies operating in the market, including startups and regional players. These companies are also contributing to the market growth by offering affordable and innovative portable EV chargers.
Overall, the competition in the global portable EV charger market is intense, with players competing on the basis of product features, pricing, distribution, and partnerships. As the market continues to grow, we can expect to see more players entering the market and offering new and innovative portable EV chargers.
Historic Year: 2016-2022
Forecast: 2024-2035
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