Press release
Fleet Charging Market Expansion Outlook: $8 Billion in 2029
Fleet Charging Market
What Is the Projected CAGR for the Fleet Charging Market from 2024 to 2025?
The market for charging fleets has experienced a swift expansion in the past few years. It is predicted to ascend from a market value of $3.3 billion in 2024 to a valuation of $3.95 billion in 2025, marking a compound annual growth rate (CAGR) of 19.6%. This significant progress during the historical period can be credited to various factors including the rise in fuel costs, heightened consciousness about global warming, the emergence of smart cities and strategic urban planning, the public's growing knowledge and acceptance of electric vehicles, as well as the increasing urbanscape.
What are the Expected Market Size and CAGR for Fleet Charging by 2029?
The market size of fleet charging is predicted to experience swift expansion in the upcoming years, reaching $8 billion by 2029 with a compound annual growth rate (CAGR) of 19.3%. The surge during the projection period can be credited to a higher adoption rate of electric fleets, the development of fleet management software, an increase in overall ownership cost, growing consumer and operator awareness, and rising corporate commitments. Key trends during this forecast period include advancements in technology, betterment of battery technology, application of emission rules and policies, innovation in fleet management software, and contribution of renewable energy sources.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/fleet-charging-global-market-report
Which Factors Are Driving the Global Fleet Charging Market Expansion?
The fleet charging market is poised for growth, stimulated by rising demand for electric trucks. Electric trucks are vehicles running on batteries, purposed for goods transportation, specialized load haulage, or utility work. The escalating demand stems from increasing environmental consciousness, tighter emission legislation, and progressing battery technology. Fleet charging provides an efficient and economical means of recharging electric trucks, thereby optimizing energy consumption and minimizing downtime in extensive logistics operations. For instance, in October 2023, a report by the autonomous France-based International Energy Agency documented that nearly 66,000 electric buses and 60,000 medium- to heavy-duty trucks were sold worldwide in 2022, forming about 4.5% and 1.2% of total bus and truck sales, respectively. Furthermore, the market share of electric trucks in China surged from 1.5% in 2021 to 3.9% in 2022, signalling a significant yearly growth. This surge in demand for electric trucks is thus invigorating the growth of the fleet charging market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16426&type=smp
Which Segment Currently Holds the Largest Share of the Fleet Charging Market?
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
Subsegments:
1) By Alternating Current (Ac) Charging Station: Level 1 Ac Charging Station, Level 2 Ac Charging Station
2) By Direct Current (Dc) Charging Station: Dc Fast Charging (Dcfc) Station, Ultra-Fast Dc Charging Station
Which Major Trends Are Shaping the Future of the Fleet Charging Industry?
Prominent businesses in the fleet charging market are paying attention to tech advancements such as EV charger support to enhance customer service. The concept of EV charger support encompasses the technical aid and upkeep provided by manufacturers or service providers to guarantee the effective operation of electric vehicle charging gear. For example, in June 2023, ChargePoint Holdings Inc., an American company that supplies a variety of charging stations, introduced a new North American Charging Standard (NACS) connector support for its AC and DC charging systems. This support includes both technical assistance and maintenance for AC and DC charging. It provides cable conversion kits for existing DC fast chargers and native DC connectors compatible with Tesla vehicles, ensuring smooth charging processes for EV owners. ChargePoint's array of NACS solutions reinforces their pledge to furnish a hassle-free charging experience for all EV drivers. They set a precedent in the charging industry by being the first to ship a native DC connector compatible with Tesla vehicles. The lineup can also accommodate AC solutions, eliminating the requirement for a bulky adaptors to initiate charging.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=16426&type=smp
Which Key Players Dominate the Fleet Charging Industry Globally?
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
What Are the Fastest-Growing Regions in the Fleet Charging Market?
Asia-Pacific was the largest region in the fleet charging market in 2024. The regions covered in the fleet charging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Fleet Charging Market Expansion Outlook: $8 Billion in 2029 here
News-ID: 4175031 • Views: …
More Releases from The Business Research Company
Tow Truck Market to Surpass $1.98 Billion by 2029 | Key Trends & Insights
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments.
How Will the Tow Truck Market Grow by 2025 in Terms of Size and Growth?
In the past few years, there has been a consistent rise in the tow truck market. The growth is projected to continue, rising from $1.62 billion in 2024 to $1.67 billion in 2025, at a compounded annual…
Global Automotive Transfer Case Market Worth $26.28 Billion by 2029, Growing at …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Automotive Transfer Case Market Outlook: What Size And CAGR Are Anticipated By 2025?
There has been significant growth in the automotive transfer case market in recent years. It's projected to surge from $17.1 billion in 2024 to $18.59 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.8%.…
Automotive Refinish Market to Grow at 6% CAGR, Reaching $16.53 Billion by 2029
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide.
Automotive Refinish Market Outlook: How is the Market Expected to Grow by 2025?
The size of the automotive refinish market has seen significant growth in recent times. Its expansion from $12.39 billion in 2024 to $13.11 billion in 2025, at a compound annual growth rate (CAGR) of 5.8%, attests to…
Semi-Autonomous And Autonomous Bus Market Size to Reach $2.13 Billion by 2029 | …
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports.
What is the Projected Market Size of the Semi-Autonomous And Autonomous Bus Industry?
The market size for semi-autonomous and autonomous buses has witnessed a swift surge in recent years. The market is predicted to swell from $0.99 billion in 2024 to $1.14 billion in 2025, exhibiting a compound annual growth rate…
More Releases for Charging
Is it better to choose AC charging piles or DC charging piles for home charging …
Choosing between AC and DC charging piles for home charging piles requires comprehensive consideration of charging needs, installation conditions, cost budgets and usage scenarios and other factors. Here's a breakdown:
Image: https://www.beihaipower.com/uploads/4c61b8bc1.jpg
1. Charging speed
* AC charging piles: The power is usually between 3.5kW and 22kW, and the charging speed is relatively slow, suitable for long-term parking and charging, such as night charging.
* DC charging piles: The power is usually…
800V system challenge: charging pile for charging system
800V Charging pile "Charging Basics"
This article mainly talks about some preliminary requirements for 800V charging piles [https://www.beihaipower.com/products/], first let's take a look at the principle of charging: When the charging tip is connected to the vehicle end, the charging pile will provide (1) low-voltage auxiliary DC power to the vehicle end to activate the built-in BMS (battery management system) of the electric vehicle After activation, (2) connect the car end…
What is dynamic mode of EV Charging? Dynamic EV Charging vs Traditional EV Charg …
A dynamic charging system is a technology that allows electric vehicles to charge while in motion. This system typically involves embedding charging infrastructure into the road surface, which enables the vehicle to charge its battery as it travels along the road. This can potentially extend the range and operational capabilities of electric vehicles, as they can receive continuous power while on the move. Dynamic charging systems have the potential to…
Electric Bus Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact a …
In every region, electrification appears as a clear alternative to increase urban growth and to care for the city environment simultaneously, using electric buses. With the right charging technology, the advantages of electric buses can be used, such as the use of renewable energy, less energy consumption, less noise, lower particle emissions, reliable service, and others. The severe emission standards across the globe are expected to drive more electric bus…
Global Automotive Electric Recharging Point Market Size, by Type (Home Charging …
Global Automotive Electric Recharging Point Market research report provides complete intelligence about the global Automotive Electric Recharging Point industry, including market growth factors and prominent competitors in the market. The report also enfolds insightful analysis of competition intensity, segments, environment, trade regulations, and product innovations to render deep comprehension of the complete Automotive Electric Recharging Point market structure. Recent developments, technology diffusion, and important events of the market are also…
Electric Vehicle Charging Equipment Market Report 2018: Segmentation by Type (AC …
Global Electric Vehicle Charging Equipment market research report provides company profile for Fortum, Fuji Electric, Leviton, Shell, Qualcomm, Bosch, Schneider Electric, Siemens, ABB, AeroVironment, Chargemaster, ClipperCreek, DBT-CEV, Engie and Others.
This market study includes data about consumer perspective, comprehensive analysis, statistics, market share, company performances (Stocks), historical analysis 2012 to 2017, market forecast 2018 to 2025 in terms of volume, revenue, YOY growth rate, and CAGR for the year 2018…
