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Fleet Charging Market Strategies 2024-2033 | Size, Insights, Demand, Outlook
Fleet Charging Market
As per the report, the fleet charging market size has grown exponentially in recent years. It will grow from $2.75 billion in 2023 to $3.30 billion in 2024 at a compound annual growth rate (CAGR) of 20.0%. The fleet charging market size is expected to see exponential growth in the next few years. It will grow to $6.86 billion in 2028 at a compound annual growth rate (CAGR) of 20.1%.
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Rising Demand For Electric Trucks Fuels Growth In Fleet Charging Market
The increase in demand for electric trucks is expected to propel the growth of the fleet charging market going forward. An electric truck is a battery-powered vehicle designed for transporting goods, carrying specialized loads, or performing utilitarian tasks. The demand for electric trucks is increasing due to growing environmental concerns, stricter emissions regulations, and advancements in battery technology. Fleet charging for electric trucks enables efficient and cost-effective recharging, optimizing energy use and reducing downtime for large-scale logistics operations. For instance, in October 2023, according to a report published by the International Energy Agency, a France-based autonomous intergovernmental organization, nearly 66,000 electric buses and 60,000 medium- and heavy-duty trucks were sold globally in 2022, accounting for approximately 4.5% of total bus sales and 1.2% of truck sales worldwide. Also, the market share of electric trucks in China rose from 1.5% in 2021 to 3.9% in 2022, indicating a substantial increase within one year. Therefore, the increase in demand for electric trucks is driving the growth of the fleet charging market.
ChargePoint Unveils NACS Connector Support Enhancing EV Charger Support
Major companies operating in the fleet charging market are focusing on technological advancements, such as EV charger support, to better serve customers. EV charger support refers to the technical assistance and maintenance provided by manufacturers or service providers to ensure the proper functioning of electric vehicle charging equipment. For instance, in June 2023, ChargePoint Holdings Inc., a US-based company that provides charging stations of different capacities, released a new North American Charging Standard (NACS) connector support for its AC and DC charging solutions. It includes technical assistance and maintenance for its AC and DC charging solutions, offering cable conversion kits for existing DC fast chargers and native DC connectors compatible with Tesla vehicles, ensuring seamless charging operations for EV owners. ChargePoint's lineup of NACS solutions bolsters the company's commitment to delivering a seamless charging experience for drivers of all EV makes and models by being the first in the charging industry to ship a native DC connector that is compatible with Tesla vehicles. The lineup offers AC solutions as well, negating the need for a cumbersome adapter to charge.
The fleet charging market covered in this report is segmented -
1) By Type: Alternating Current (AC) Charging Station, Direct Current (DC) Charging Station
2) By Installation Type: Fixed, Portable
3) By End User: Service And Last Mile Companies, Trucking Companies, Public Transportation, Other End Users
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Major companies operating in the fleet charging market are Royal Dutch Shell plc, BMW Group, Enel Group, Robert Bosch GmbH, Tesla Inc., Renault Group, Schneider Electric SE, Eaton Corporation Plc, Phihong Technology Co. Ltd., Delta Electronics EMEA, Tata Power, EVBox, ChargePoint Holdings Inc., EFACEC Power Solutions SGPS, Allego Inc., Tritium DCFC Ltd, Electrify America LLC, EVgo Inc., Xcharge, Virta Global, Servotech Power Systems Ltd., Kazam EV Tech. Pvt. Ltd., HyperVolt, Charzer, Greenlots
Contents of the report:
1. Executive Summary
2. Fleet Charging Market Report Structure
3. Fleet Charging Market Trends And Strategies
4. Fleet Charging Market - Macro Economic Scenario
5. Fleet Charging Market Size And Growth
…..
27. Fleet Charging Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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