EV Charging Infrastructure Industry: APAC will Hit 64.8% Revenue share by 2027

According to Report, the Asia Pacific EV charging infrastructure market accounted 51% revenue share in 2020 and is expected to reach 64.8% market share by 2027.

In 2020, the Asia Pacific region accounted 51% revenue share in the EV charging infrastructure market and is expected to reach 64.8% market share by 2027.

In 2020, the Europe accounted 31.2% revenue share in the market and is projected to hit 24.6% market share by 2027.

The North America region dominated 11.8% revenue share in in the 2020 and is predicted to surpass 10.7% market share by 2027.

Asia Pacific (APAC) is on the verge of a major electric vehicle revolution. Nonetheless, most forecasts place the region 3 to 4 years behind Europe in terms of EV adoption. As APAC joins the race to become a fully electric fleet, it has a once-in-a-lifetime opportunity to turn its disadvantage into an advantage.

Because the region is a blank canvas, it is a perfect location for rapid adoption and innovation. Electric vehicle technology has advanced rapidly in recent years. While Europe began with 50kW chargers that took 45 minutes to charge, today's EV charging can take as little as 15-20 minutes. APAC is fast pacing its approach to widespread EV adoption and rising into the next probable global leader in e-mobility by leapfrogging over some of that technology. Indeed, according to industry estimates, APAC will have the fastest EV growth, with nations like China already making significant progress.

Even though APAC has the advantage of learning from early adopters, there is no one-size-fits-all answer. Rather, countries that have been able to plan out a strategic strategy while adapting and innovating to their particular local competencies and cultural settings have seen excellent success in EVs. There are still a lot of concerns about things like charging protocols, which are exacerbated even more by new difficulties like the incompatibility of charging infrastructure for electric motorcycles and cars. Operating in such a tumultuous environment would unavoidably stymie our progress in e-mobility, stifling innovation and discouraging developers from investing in EV infrastructure.

Asia Pacific electric vehicle charging infrastructure market, 2021-2027 (USD Million)

2021 - 11347.3
2022 - 15261.8
2023 - 20675.1
2024 - 28209.5
2025 - 38764.8
2026 - 53647.0
2027 - 74766.5

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China electric vehicle charging infrastructure

China already has the most electric vehicle (EV) charging stations in the world (over 1.2 million in 2019), but thanks to an infrastructure stimulus package announced by the central government in March 2020, it plans to construct roughly 600,000 more. The package is aimed at "new infrastructure," which comprises initiatives in information technology, power, and transportation, and includes $1.4 billion for EV charging infrastructure.

This move comes at a time when many countries, including China, are attempting to jumpstart economic development and demand to recover from the worldwide recession, but it also draws on a long history of regulations that encourage the use of electric vehicles and charging infrastructure. This history of EV promotion aims to address the ongoing air-quality and carbon-emission issues that come with having the world's largest automobile market, as well as promote China as a leader in the high-tech automotive industry with well-paying jobs.

The emphasis on electric vehicle charging infrastructure is timely. Vehicle economics and charging infrastructure availability have always been barriers to the wide market adoption of electric vehicles. With battery costs falling and the EV industry expanding, many Chinese experts believe that charging infrastructure, rather than vehicle economics, impedes sustained high development in EV adoption.

China electric vehicle charging infrastructure market, 2021-2027 (USD Million)

2021 - 10462.2
2022 - 14101.9
2023 - 19145.1
2024 - 26178.5
2025 - 36051.1
2026 - 49999.0
2027 - 63831.9

India electric vehicle charging infrastructure

With the FAME II strategy, India outlined its goal of being the world's electric vehicle hub by 2030. So far, the policy has served as a fantastic driver for attracting young players with an entrepreneurial spirit to develop cleaner and more sustainable mobility solutions for a brighter future. Last year's Union Budget included even more game-changing incentives to encourage people to buy electric automobiles, particularly first-time customers.

Every day, the demand for electric vehicles grows. According to the Society of Manufacturers of Electric Vehicles, 236,802 electric automobiles and 25,735 electric two-wheelers were sold in FY21 (SMEV). However, this increase in electric vehicle sales necessitates a corresponding increase in EV charging infrastructure.

With 70,000 fuel outlets around the country, India has adequate infrastructure for Internal Combustion Engine (ICE) cars. This assures drivers that they will not be stuck wherever they go. The ‘fuel' in electric vehicles, on the other hand, comes from the remaining charge in the battery.

Range anxiety is a condition caused by a shortage of publicly accessible charging stations. There is no guarantee that a motorist will be able to replenish the charge if it runs out. The unification and standardization of adaptors and electric chargers in India is another difficulty. The Bharat Standards of EV Charging were issued by the Department of Heavy Industries in 2017, standardizing charging procedures and allowing chargers and EVs from different OEMs to communicate with one another. These standards, AC-001 and DC-001, are for electric cars having a battery voltage of 100 volts or less.

According to the charging rules provided by the Ministry of Power in 2018, Indian EV manufacturers are now using the DC-001 protocol for their vehicles. The Indian government and numerous private companies have constructed Bharat DC-001 standard EV charging stations across the country in recent years, anticipating carmakers to follow suit. Chargers in the DC-001 series are designed to be low-cost, environmentally friendly, and suitable for vehicles with entry-level powertrains. More than 300 DC-001 charging stations have been constructed in Delhi alone.

Foreign electric car manufacturers, on the other hand, adhere to worldwide standards such as CCS and CHAdeMO. There has been speculation that DC 001 chargers will become obsolete shortly. This is untrue. Because future electric vehicles will employ high-voltage power trains, DC-001 chargers can be useful for intra-city public transportation and advanced two-wheelers.

Japan electric vehicle charging infrastructure

Japan is dealing with a classic "build it and they will come" scenario, as Prime Minister Yoshihide Suga has declared that the country will be carbon neutral by 2050. Charging poles proliferated after the government provided 100 billion yen ($911 million) in subsidies to construct charging stations and encourage the adoption of electric vehicles in fiscal 2012. With electric vehicle adoption at around 1%, the country has hundreds of unused charging poles, while others (which have an average lifespan of roughly eight years) are being phased out entirely. According to Zenrin Co., the number of electric vehicle charging stations in Japan declined to roughly 29,200 in the 12 months ending March, down from more than 30,300 the previous year. It's the first drop since the publisher of maps began collecting data in 2010.

South Korea electric vehicle charging infrastructure

To promote the use of environmentally friendly automobiles, South Korea wants to build 3,000 rapid charging stations for electric vehicles by the end of this year. While presiding over a meeting to promote the "Big 3" industries, Finance Minister Hong Nam-ki stated, "Creating convenient charging infrastructure is a very critical task to keep pace with the increase of electric vehicle supply." Green automobiles, biomedicine, and non-memory chips are the Big Three industries. The government will establish 2,280 charging stations at sites like express service facilities where private businesses have been hesitant to put charging stations due to high expenses.

The state would also help private operators install 289 units in more accessible and profitable areas. With government funding, 300 units will be deployed at gas stations. In 2020, there were 137,636 electric vehicles and 9,805 rapid charging stations, respectively. The country is relying on the development of eco-friendly cars fueled by electricity and hydrogen as part of its continuous efforts to attain carbon neutrality by 2050. Ultra-fast charging stations, which reduce the time it takes to charge a vehicle from over an hour to 20 minutes, will be available for the first time this year, according to the ministry's plan. The government will build 43 ultra-fast charging stations and provide financial assistance to automakers to obtain locations for at least another 80. Meanwhile, the Ministry of Environment expects the number of locally produced green automobiles to exceed 300,000 by the end of the year.

South Korea electric vehicle charging infrastructure market, 2016-2027 (USD Million)

2021 - 245.2
2022 - 323.6
2023 - 430.0
2024 - 575.5
2025 - 775.3
2026 - 1051.5
2027 - 1435.5

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Rest of Asia Pacific electric vehicle charging infrastructure

Rest of Asia Pacific includes Southeast Asia, and Australia, and New Zealand. Southeast Asia (SEA), which has the world's fifth-largest automotive market, is set to profit from major OEMs' investments in the region's vehicle electrification. Indonesia recently inked a USD 9.8 billion memoranda of understanding (MOU) with LG Group of South Korea to make lithium batteries for electric vehicles and hinted at possible partnerships with Tesla to strengthen their EV and battery industries. Toyota is spending THB 19 billion in Thailand to build electric vehicles at its Chachoengsao facility, while Nissan has pledged to become an EV hub for export worldwide. Meanwhile, VinFast, a Vietnamese automaker, plans to start exporting electric SUVs in 2022.

With its Singapore Green Plan 2030, Singapore, a regional leader, is leading the effort. The strategy includes activities such as decreasing upfront purchase prices and providing discounts for cleaner vehicles to encourage consumers to transition to EVs. Other plans include corresponding levies for polluting vehicles, as the country aims to phase out all ICEVs by 2040. Malaysia, on the other side of the border, is gearing up to boost EV adoption. Datuk Madani Sahari, CEO of the Malaysia Automotive, Robotics, and IoT Institute (MARii), revealed that a soon-to-be-announced expedited EV policy will include direct incentives for EV purchases such as road tax, toll, and other fees.

Over half a million Australians stated they planned to buy an electric car EV during the next four years in a 2019 consumer study. Despite this, fewer than 7000 plug-in electric vehicles were sold in 2019 out of 1.15 million new car sales. This means that electric vehicles will account for barely 0.6 percent of new car sales in 2019. When compared to other countries in terms of population, economy, or standard of living, this reflects a poor uptake of electric vehicles. In terms of EV charging infrastructure, Australia also lags on several other parameters. In Australia, there are 11,039 individuals per public charger, compared to 397 in Norway, a global leader in the electrification of its passenger vehicle fleet.

The Warehouse and Meridian Energy have recently announced additions to their public EV charging networks, indicating that the network of public EV charging stations in New Zealand is continuing to grow. The Warehouse Group (TWG) announced that it is extending and modernizing its charging station infrastructure, bringing the total number of charging stations in its network to 28 across the country. Thirteen of the locations have had their 25kW DC chargers installed. Last year, the company earned a $265,000 award from the Energy Efficiency and Conservation Authority's (EECA) Low Emission Vehicles Contestable Fund, according to the company. Additional charging stations have been placed at the company's Kaitia and Waipapa locations, with another set to be added next month at The Warehouse Greymouth. Increasing EV users' access to rapid chargers not only removes a major obstacle to broader EV adoption but also helps New Zealand move closer to becoming a carbon-free economy.

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