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A53558 | Pages: 200 | Charts: 59 | Tables: 123 |
Airport EV Charging Station Market - 2031
The global airport electric vehicle charging station market size was valued at $0.18 billion in 2021, and is projected to reach $1.4 billion by 2031, growing at a CAGR of 23.3% from 2022 to 2031.
An airport electric vehicle charging station is a device or equipment that is used to connect electric vehicles and plug in electric vehicles to a source of electricity to recharge them. Charging stations are also known as electric vehicle supply equipment and are installed at public locations such as shopping centers, parking, and others, by private companies or electric utility companies. In addition, electric vehicle charging station provides different types of charging levels such as level 2, and level 3. The airport electric vehicle charging stations are installed with the purpose to cater to the convenience of the passengers, and the demand for these stations has witnessed an increase due to the widespread Electric vehicles globally owing to zero-emission norms in several developing and developed countries.
The global airport electric vehicle charging station market is experiencing growth, due to a surge in the production of electric vehicles, and a rise in the adoption of electric vehicles owing to government initiatives. However, the high cost of electric vehicle charging infrastructure, and the lack of standardization of current EV charging infrastructure are the factors hampering the growth of the market. Furthermore, the incorporation of vehicle-to-grid (V2G) EV charging stations is the factor expected to offer growth opportunities to the market during the forecast period.
The global airport electric vehicle charging station market is segmented on the basis of mode of charging, product type, charging level, and region. By mode of charging, it is segmented into plug-in charging, and wireless charging system. By product type, it is categorized into standing type, wall-mounted type, and wireless pad. By charging level, it is classified into Level 2, and Level 3. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competitive analysis and profiles of the major airport EV charging stations market players include ABB Ltd., Blink Charging Co., Delta Electronics, Inc., Electroair OU, General Electric Company, Siemens AG, Webasto Group, Eves LLC, Plugless Power Inc., Ningbo Dekon New Energy Co., Ltd.
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North America comprises U.S., Canada, and Mexico. Leading electric vehicle manufacturers and fleet owners are installing a greater number of electric vehicle charging infrastructures in North America to provide charging services to electric vehicle owners. In addition, a collaboration between car rental companies and multinational oil and gas companies for the development of electric vehicle charging stations across several airports. For instance, in September 2022, Hertz Global Holdings Inc (HTZ.O) said on Tuesday it has partnered with a unit of oil giant BP to install electric vehicle (EV) charging stations across North America to power its fleet of eco-friendly cars.
Moreover, the governments of different developed countries are taking initiative to install electric vehicle charging stations across the nation, which also supplements the growth of the airport electric vehicle charging station market. For instance, in 2021, in the U.S., President Joe Biden proposed spending at least $15 billion to begin rolling out electric vehicle charging stations, with the goal of reaching 500,000 charging stations nationwide by 2030 including airports area.
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Some leading companies profiled in the report comprises Blink Charging Co., Delta Electronics, Inc., General Electric Company, Siemens AG, ABB Ltd., and others. The leading companies are adopting strategies such as agreements, expansion, partnerships, contracts and product launches to strengthen their market position. In January 2023, Blink Charging Co. announced a collaborative agreement with Citybest, a sustainable transport mobility App that connects passengers with sustainable taxis, drivers, and ride-sharing services, to provide much-needed EV chargers in Latin America and advance the EV charging ecosystem in the region.
In August 2022, Delta Electronics, Inc. entered into a new supply agreement with EVgo Inc, the nation’s largest public fast-charging network for electric vehicles (EVs). Under the agreement, Delta will supply EVgo with 1,000 fast chargers with up to 350kW power output, which supports EVgo’s recently announced project with General Motors (GM) and Pilot Company, as well as other EVgo eXtend and fleet projects and expansions to EVgo’s owned and operated charging network. In February 2022, Siemens AG introduced a new charging concept called VersiCharge XL. The concept is designed to enable rapid large-scale installation as well as facilitate expansion and maintenance. The concept was developed in 2021 and is designed for the transition to electric car fleets and high demand charging applications. In December 2021, Electroair OU launched an electric vehicle charging station solution efficient solution for improving the EV airport’s infrastructure. The charging station flexibility allows charging the vehicle with both DC and AC current. Fast charging methods provide stable power up to 200kW for 4 paralleled modules. Its multi-protocol design supports CCS Combo2, CHAdeMO, and AC charging standards. In December 2021, Electroair OU launched an electric vehicle charging station solution efficient solution for improving the EV airport’s infrastructure. The charging station flexibility allows charging the vehicle with both DC and AC current. Fast charging methods provide stable power up to 200kW for 4 paralleled modules. Its multi-protocol design supports CCS Combo2, CHAdeMO, and AC charging standards.
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Rise in adoption of electric vehicles owing to government initiatives
Governments of various countries are taking initiatives to reduce carbon footprints by encouraging the use of electric bikes, electric vehicles, and bicycles, owing to an increase in awareness of the hazardous effects of using vehicles running on fossil fuels. Moreover, governments across the globe are putting pressure on vehicle manufacturers to reduce carbon emissions caused by diesel fuel combustion and tackle greenhouse gas emissions, in turn, pushing them to invest in developing electric vehicles. In addition, governments across the globe are supporting the purchase of electric mobility, in terms of tax credits and incentives. Moreover, central governments of few countries are providing an exemption from highway toll tax for electric vehicles. For instance, for faster adoption of electric vehicles, the government of India plans to lower the Goods & Service Tax (GST) on e-vehicles from 12% to 5%.
Surge in demand for new airport construction and modernization of the existing airport
Increase in air passenger traffic is expected to be one of the major factors leading to high demand for new airport construction. In addition, rise in international air passenger traffic has forced government agencies around the world to make substantial investments in expanding the transportation networks so as to meet the high volume of visitors, which in turn requires construction of new airports and improvement in existing one. For instance, in July 2022, The U.S. Department of Transportation’s Federal Aviation Administration (FAA) awarded $371 million for airfield, safety and other improvement projects at 169 airports in 40 states across the country. This is the third announcement of awards for the 2022 Airport Improvement Program (AIP), which funds a variety of projects such as construction of new and improved airport facilities, repairs to runways and taxiways, maintenance of airfield elements like lighting or signage, and the purchase of equipment required to operate and maintain airports. Therefore, increase in financial support by government agencies, in turn is expected to propel growth of the airport electric vehicle charging stations market.
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Lack of standardization of current EV charging infrastructure
Governments need to standardize charging infrastructure for the development of a favorable ecosystem and an increase in the sales of electric vehicles. Several countries use different standards for fast charging at airports. Japan uses CHAdeMO; Europe, the U.S., and South Korea use CCS; and China uses GB/T. The Indian government has mandated the installation of both CHAdeMO and CCS methods since India has not reached standardization in fast charging methods. Though, this mandate increased the installation cost of charging stations, and hence, in 2019, the government changed the guidelines and allowed charging station developers to choose the method they prefer. The U.S.-based electric car maker Tesla uses high-performance superchargers that are unique to Tesla and cannot be used for other electric vehicles. Thus, lack of standardization across countries may impact the installation of charging stations and hamper the growth of the airport electric vehicle charging station market.
Rise of Funds by the Government for the Development of EV Charging Station Technologies
Due to the increasing demand for electric vehicle charging stations, governments around the world are investing huge amounts in this sector. Developing EV charging station technology such as two-way charging, portable charging stations, usage-based analytics, intelligent charging with load management, automated payment methods, and ultra-fast charging technology at EV stations, also for electric vehicles. The increasing use of V2G charging stations in the market is likely to impact the market in the future, providing ample growth opportunities. Governments of many countries are also working with oil and gas companies in planning and developing charging stations to help establish the electric vehicle industry. The government plans to install charging stations every 100 kilometers along national highways including airports to enable the growth of the airport electric vehicle charging station market during the forecast period.
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Key Market Segments
Key Market Players