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Peer To Peer Electric Vehicle Charging Market

Peer To Peer Electric Vehicle Charging Market

Peer-to-Peer Electric Vehicle Charging Market - Global Size, Share, Trend Analysis, Opportunity and Forecast Report, 2018–2028, Segmented By Charger Type (Level 1, Level 2); By Application (Residential (Apartments, Private Homes); Commercial (Destination Charging Station, Fleet Charging Station, Workplace Charging Station, Others)); By Region (North America, Europe, Asia Pacific, and Latin America, Middle East, and Africa)

  • Published Date: September 2022
  • Report ID: BWC22351
  • Available Format: PDF
  • Page: 149

Report Overview

Demand for peer-to-peer electric vehicle charging stations has increased mainly due to a rapidly growing global popularity of electric vehicles (EVs), and favorable government regulations and incentives for purchasing Evs and developing charging infrastructure.

Global Peer-to-Peer Electric Vehicle Charging Market - Overview

To address the absence of electric vehicle (EV) charging infrastructure, a new strategy is emerging. Individuals can use blockchain-based applications to share their EV chargers. When chargers are not in use, private owners can use peer-to-peer (P2P) EV charging networks to make them available to the public. This would help in boost their income by maximizing the use of idle chargers. EV drivers may look for nearby chargers and recharge their EVs before they run out of battery capacity. Factors such as greater public adoption of EVs, positive government regulations and incentives for owning EVs, and the development of a supercharger network drive the need for P2P EV charging stations.

Global Peer-to-Peer Electric Vehicle Charging Market - Industry Trends and Forecast

The global peer-to-peer electric vehicle charging market size was estimated USD 115.3 million in 2021 and is forecast to grow at an impressive double-digit CAGR of 28.9% between 2022 and 2028 to reach a market size of USD 624.6 million by 2028. Various EV manufacturers and Original Equipment Manufacturers (OEMs) are working to improve EV and charging infrastructure compatibility. This, in turn, is expected to help in the expansion of P2P EV charging networks.

Growth Drivers

Rapidly increasing number of EVs on roads to drive P2P EV charging market

The demand for charging infrastructure grows in tandem with the number of EVs on the road. China, the United States, and Germany, for example, are heavily investing in EV charging stations as well as R&D for easier and more successful charging processes. Automobile manufacturers invest heavily to accommodate the growing demand for EVs and to play a key role in the evolution of P2P EV charging market. The expansion in the production of EVs would boost the EV charging station business. While most EV owners install a Level 1 or Level 2 EV charging unit in their house or apartment complex, public charging stations are growing in popularity across the world. Hence, the rapidly increasing number of EVs on the road grows is expected to boost the demand for EV charging stations.

Vehicle-to-Grid (V2G) EV charging stations to charge advanced electric vehicles

V2G charging stations are a type of charging station that allows electricity to flow both ways between plug-in EVs and the power grid. EVs may store and discharge unused energy to the grid using the V2G technology. It can improve the performance of the electric distribution while also benefiting EV owners. As a result, the advent of V2G has simplified EV charging processes, and EVs have become one of the most popular modes of transportation. Hence, the charging station industry is crucial for connecting the network to the EVs and facilitating charging.

Restraints

Lack of uniformity among current charging infrastructure for EVs

Variables such as the expansion of the EV sector and variations in charging demands have highlighted the need for uniformity in EV charging stations. Certain charging terminals for EVs may only work with a specified voltage. The voltage at level 1 charging stations is 120V AC, while the voltage at level 2 supercharger sites is 208/240V AC. To allow rapid charging, DC charging stations are combined with the use of 480V AC. Moreover, the requirements for quick charging vary per country. For instance, in Japan, CHAdeMO is used, while in Europe, the United States, and South Korea, CCS is used, and in China, GB/T is used. Hence, Governments need to standardize charging infrastructure to create a more environmentally friendly atmosphere and further boost EV sales.

Global Peer-to-Peer Electric Vehicle Charging Market - By Application

Global peer-to-peer electric vehicle charging market based on application has two segments: residential (apartments and private homes) and commercial (destination charging station, fleet charging station, workplace charging station, and others). In 2021, the commercial segment accounted for a sizable market share of the P2P EV charging industry by application. Commercial charger installation helps in saving time for employees and keeping fleets running. The ongoing expansion of EV charging stations in corporate facilities is mostly due to the commercial segment's promising future.

Global Peer-to-Peer Electric Vehicle Charging Market - By Charging Type

Global peer-to-peer electric vehicle charging market is divided into two segments based on the charger type: Level 2 and Level 1. In 2021, the Level 2 charging type segment of the P2P EV charging market recorded a higher market share. The usage of level 2 chargers by corporations such as The Coca-Cola Company and General Motors has aided the segment's expansion. Furthermore, through collaborations with P2P EV charging software developers, electricity providers are promoting the development of level 2 chargers for general and resident use.

Impact of Covid-19 on Global Peer-to-Peer Electric Vehicle Charging Market

Various industries are facing significant challenges due to the Covid-19 pandemic and the subsequent international economic collapse. The pandemic has also had a big impact on the market for charging infrastructure for EVs. Due to reduced operability during lockdowns, all modes of transportation faced significant losses. As a result, charging stations at malls and buildings are in short supply. Furthermore, the financial crisis is expected to affect investments in smart buildings, EV charging networks, and several businesses and sectors, including EVs and power generation.

Regional Insights

North America, Europe, Asia Pacific, and Latin America, the Middle East, and Africa are major regions of the global P2P EV charging market. In 2021, the P2P EV charging market in North America had the highest market share. The market's expansion can be attributed to the growing number of businesses in the P2P EV charging industry across the region. In addition, EV charging station makers are developing partnerships with automobile manufacturers to provide a seamless charging experience. ChargePoint, for example, announced in March 2021 that it would expand its partnership with Volvo to provide Volvo drivers with an in-car Charging Point app and seamless charging features. The app makes use of the vehicle's infotainment system to assist drivers in finding EV charging stations across North America.

Competitive landscape

Global peer-to-peer electric vehicle charging market is highly fragmented. Key players in the market include ChargePoint Holdings, Inc., Enphase Energy, Inc. (ClipperCreek, Inc.), Enel X Italia Srl (Enel Group), EVBox (Engie SA), EVmeter LTD., Shell Recharge Solutions (Shell plc), Innogy SE (E. ON SE), Power Hero, Inc., and Webasto Group. To expand their market reach, these players implement various strategies including mergers and acquisitions and forming partnerships.  

Recent developments

In January 2022, Enphase Energy, a leading supplier of microinverter-based solar and battery systems, completed the acquisition of ClipperCreek, a leading player in EV supply equipment based in the US. The acquisition is expected to expand Enphase administration into residential electrification by employing its power alteration and software platform to govern resources and loads within the home. Shell teamed up with Porsche Asia Pacific, the region's largest and most established sports car manufacturer. As part of this agreement, the firms plan to build Southeast Asia's first cross-border high-performance charging network, with 12 charge ports at six Shell stations along Malaysia's North-South route to provide EV drivers convenient travel between Kuala Lumpur, Penang, and Singapore. ChargePoint has partnered with FLO, a women's health app that helps women through every stage of their reproductive cycle, to provide access to public chargers on both networks while traveling in Canada and the United States, without the need to sign up for multiple accounts or pay additional costs. In November 2021, Indian Oil Corporation Limited announced that by 2024, it wants to add 10,000 charging outlets in malls, complexes, and business buildings across India. Such outlets help in establishing a environment conducive environment for the segment's growth.

 

Scope of the Report

Attributes  Details
Years Considered Historical data – 2019–2021 
Base Year – 
Estimated Year – 2021
Forecast – 2022–2028
Facts Covered Revenues in USD million
Market Coverage North America, Europe, Asia Pacific, Latin America, Middle East, and Africa
Product/Service Segmentation By Charger Type; By Application (Commercial, Residential); By Region
Key Players ChargePoint Inc., ClipperCreek Inc., Enel X, EVBox, EV Meter, Greenlots, Has·to·be gmbh, Innogy, Power Hero, Webasto Group, AeroVironment, Inc.

 

 By Charger Type

  •  Level 1
  • Level 2

 By Application

  • Residential
  • Commercial 

 By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America, Middle East, and Africa
  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Research Methodology
    1. Qualitative Research
      1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations
  3. Executive Summary
  4. Global Peer-to-Peer Electric Vehicle Charging Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
    3. Technological Landscape/Recent Development
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  5. Global Peer-to-Peer Electric Vehicle Charging Market Overview
    1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Charger Type
        1. Level 1
        2. Level 2
      2. By Application
        1. Residential
          1. Private Homes
          2. Apartments
        2. Commercial
          1. Destination Charging Station
          2. Fleet Charging Station
          3. Workplace Charging Station
          4. Others
      3. By Region
        1. North America
        2. Europe
        3. Asia Pacific
        4. Latin America
        5. Middle East and Africa
  6. North America Peer-to-Peer Electric Vehicle Charging Market
    1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Charger Type
      2. By Application
      3. By Country
        1. United States
        2. Canada
  7. Europe Peer-to-Peer Electric Vehicle Charging Market
    1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Charger Type
      2. By Application
      3. By Country
        1. Germany
        2. United Kingdom
        3. Italy
        4. France
        5. Spain
        6. Rest of Europe
  8. Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market
    1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Charger Type
      2. By Application
      3. By Country
        1. China
        2. India
        3. Japan
        4. South Korea
        5. Rest of Asia Pacific
  9. Latin America Peer-to-Peer Electric Vehicle Charging Market
    1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Charger Type
      2. By Application
      3. By Country
        1. Brazil
        2. Mexico
        3. Rest of Latin America
  10. Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market
    1. Market Size & Forecast by Value, 2018–2028
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Charger Type
      2. By Application
      3. By Country
        1. Saudi Arabia
        2. UAE
        3. South Africa
        4. Rest of Middle East & Africa
  11. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships)
  12. Impact of COVID-19 on Global Peer-to-Peer Electric Vehicle Charging Market
  13. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
    1. ChargePoint Inc.
    2. ClipperCreek Inc, Inc.
    3. Enel X
    4. EVBox
    5. EV Meter
    6. Greenlots
    7. Has·to·be gmbh
    8. Innogy
    9. Power Hero
    10. Webasto Group
    11. AeroVironment, Inc.
  14. Key Strategic Recommendations

 

Note: Financial in information in case of non-listed companies will be provided as per availability.

The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1        Global Peer-to-Peer Electric Vehicle Charging Segmentation

Figure 2        Global Peer-to-Peer Electric Vehicle Charging Market Value Chain Analysis

Figure 3        Porter’s Five Forces Analysis

Figure 4        Global Peer-to-Peer Electric Vehicle Charging Market Size, By Value (USD Million), 2018–2028

Figure 5        Global Peer-to-Peer Electric Vehicle Charging Market Share, By Charger Type, By Value, 2018–2028

Figure 6        Global Peer-to-Peer Electric Vehicle Charging Market Share, By Application, By Value, 2018–2028

Figure 7        Global Peer-to-Peer Electric Vehicle Charging Market Share, By Region, By Value, 2018–2028

Figure 8        North America Peer-to-Peer Electric Vehicle Charging Market Size, By Value (USD Million), 2018–2028

Figure 9        North America Peer-to-Peer Electric Vehicle Charging Market Share, By Charger Type, By Value, 2018–2028

Figure 10       North America Peer-to-Peer Electric Vehicle Charging Market Share, By Application, By Value, 2018–2028

Figure 11       North America Peer-to-Peer Electric Vehicle Charging Market Share, By Country, By Value, 2018–2028

Figure 12       Europe Peer-to-Peer Electric Vehicle Charging Market Size, By Value (USD Million), 2018–2028

Figure 13       Europe Peer-to-Peer Electric Vehicle Charging Market Share, By Charger Type, By Value, 2018–2028

Figure 14       Europe Peer-to-Peer Electric Vehicle Charging Market Share, By Application, By Value, 2018–2028

Figure 15       Europe Peer-to-Peer Electric Vehicle Charging Market Share, By Country, By Value, 2018–2028

Figure 16       Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Size, By Value (USD Million), 2018–2028

Figure 17       Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Share, By Charger Type, By Value, 2018–2028

Figure 18       Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Share, By Application, By Value, 2018–2028

Figure 19       Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Share, By Country, By Value, 2018–2028

Figure 20       Latin America Peer-to-Peer Electric Vehicle Charging Market Size, By Value (USD Million), 2018–2028

Figure 21       Latin America Peer-to-Peer Electric Vehicle Charging Market Share, By Charger Type, By Value, 2018–2028

Figure 22       Latin America Peer-to-Peer Electric Vehicle Charging Market Share, By Application, By Value, 2018–2028

Figure 23       Latin America Peer-to-Peer Electric Vehicle Charging Market Share, By Country, By Value, 2018–2028

Figure 24       Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Size, By Value (USD Million), 2018–2028

Figure 25       Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Share, By Charger Type, By Value, 2018–2028

Figure 26       Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Share, By Application, By Value, 2018–2028

Figure 27       Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Share, By Country, By Value, 2018–2028

Figure 28       Company Market Share Analysis, 2021

 

List of Tables

 

Table 1         Global Peer-to-Peer Electric Vehicle Charging Market Size, By Charger Type, By Value, 2018–2028

Table 2         Global Peer-to-Peer Electric Vehicle Charging Market Size, By Application, By Value, 2018–2028

Table 3         Global Peer-to-Peer Electric Vehicle Charging Market Size, By Region, By Value, 2018–2028

Table 4         North America Peer-to-Peer Electric Vehicle Charging Market Size, By Charger Type, By Value, 2018–2028

Table 5         North America Peer-to-Peer Electric Vehicle Charging Market Size, By Application, By Value, 2018–2028

Table 6         North America Peer-to-Peer Electric Vehicle Charging Market Size, By Country, By Value, 2018–2028

Table 7         Europe Peer-to-Peer Electric Vehicle Charging Market Size, By Charger Type, By Value, 2018–2028

Table 8         Europe Peer-to-Peer Electric Vehicle Charging Market Size, By Application, By Value, 2018–2028

Table 9         Europe Peer-to-Peer Electric Vehicle Charging Market Size, By Country, By Value, 2018–2028

Table 10        Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Size, By Charger Type, By Value, 2018–2028

Table 11        Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Size, By Application, By Value, 2018–2028

Table 12        Asia-Pacific Peer-to-Peer Electric Vehicle Charging Market Size, By Country, By Value, 2018–2028

Table 13        Latin America Peer-to-Peer Electric Vehicle Charging Market Size, By Charger Type, By Value, 2018–2028

Table 14        Latin America Peer-to-Peer Electric Vehicle Charging Market Size, By Application, By Value, 2018–2028

Table 15        Latin America Peer-to-Peer Electric Vehicle Charging Market Size, By Country, By Value, 2018–2028

Table 16        Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Size, By Charger Type, By Value, 2018–2028

Table 17        Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Size, By Application, By Value, 2018–2028

Table 18        Middle East & Africa Peer-to-Peer Electric Vehicle Charging Market Size, By Country, By Value, 2018–2028

Table 19        ChargePoint Inc. Company Overview

Table 20        ChargePoint Inc. Financial Overview

Table 21        ClipperCreek Inc, Inc. Company Overview

Table 22        ClipperCreek Inc, Inc. Financial Overview

Table 23        Enel X Company Overview

Table 24        Enel X Financial Overview

Table 25        EVBox Company Overview

Table 26        EVBox Financial Overview

Table 27        EV Meter Company Overview

Table 28        EV Meter Financial Overview

Table 29        Greenlots Company Overview

Table 30        Greenlots Financial Overview

Table 31        Has·to·be gmbh Company Overview

Table 32        Has·to·be gmbh Financial Overview

Table 33        Innogy Company Overview

Table 34        Innogy Financial Overview

Table 35        Power Hero Company Overview

Table 36        Power Hero Financial Overview

Table 37        Webasto Group Company Overview

Table 38        Webasto Group Financial Overview

Table 39        AeroVironment, Inc. Company Overview

Table 40        AeroVironment, Inc. Financial Overview

Market Segmentation

 By Charger Type

  •  Level 1
  • Level 2

 By Application

  • Residential
  • Commercial 

 By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America, Middle East, and Africa
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