Airport Electric Vehicle Charging Station Market Expected to Reach $1.4 Billion by 2031—Allied Market Research

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, registering a CAGR of 23.3% from 2022 to 2031. 

North America dominates the market in terms of revenue, followed by Europe, Asia-Pacific, and LAMEA. U.S. dominated the global airport electric vehicle charging station market share in 2021 and is expected to grow at a significant rate during the forecast period, due to leading automobile manufacturers planning the deployment of huge EV charging infrastructure at airports in many countries of the region.

An Electric Vehicle (EV) charging station at an airport is a device that connects a battery-powered vehicle to a source of electricity, permitting electric cars, neighborhood EVs, and plug-in hybrids to be charged. Some charging stations provide enhanced features like smart metering, cellular connectivity, and network connectivity, while others are simpler. In addition, electric vehicle charging station provides different types of charging levels such as level 2, and level 3. Moreover, electric vehicle charging stations have multiple configurations such as wall-mounted or free-standing, single charging head or multi-head, and wireless.

EV charging station providers also facilitate cloud-based app connectivity to help EV owners find nearby charging stations and charge easily. It also serves the purpose of building an extensive electric vehicle charging network. Therefore, it gives EV charging stores a great incentive along with profitability. Many of domestic and international airports are in the process of installing EV chargers in both daytime and long-term parking lots. Mumbai's Chhatrapati Shivaji Maharaj International Airport (CSMIA), for example, has installed six robust DC fast charging stations for electric vehicles in Terminals 1 and 2.

By mode of charging, the market is categorized into plug-in charging and wireless charging. Plug-in charging accounted for the highest revenue in 2021, due to these systems are preferred for charging electric vehicles at home as well as in commercial areas. However, the segment of wireless charging is anticipated to witness the highest CAGR of 26.5% during the forecast period, due to its technology working on the principle of magnetic induction to charge the battery of the vehicle wirelessly.

On the basis of charging level, the global airport electric vehicle charging station market is segmented into level 2 and level 3. The level 2 segment accounted for over 68% market share in 2021, level 2 charging can replenish between 12-80 miles of range per hour, depending upon the power output of the level 2 charger.

The key players analyzed in this airport EV charging station market report are ABB Ltd., Blink Charging Co., Delta Electronics, Inc., Electroair OU, General Electric Company, Siemens AG, Webasto Group, Eves LLC, Plugless Power Inc., and Ningbo Dekon New Energy Co., Ltd.

In addition, the electric vehicle charging industry is a dynamic industry with a wide range of applications. Government initiatives of several countries around the world are playing an important role in the development of electric vehicle charging stations. For instance, in the U.S., the government plays a key role by providing the necessary standards and funding for the development of electric vehicle charging stations at public parking including airports. Similarly, the Chinese central government has approved the development of fast charging stations through national guidelines.

Furthermore, Europe is the second largest airport electric vehicle charging station market due to technological advancements in charging stations and growth in vehicle standards across Europe such as strict emission limits. Moreover, airports in the UK are introducing charging stations for electric vehicles to promote the adoption of an EV in the country. For instance, in February 2022, London City Airport launched its first electric vehicle charging station to encourage staff and passengers to travel more sustainably.

Moreover, the rapid installation of the fast-charging station for electric vehicles at airports in the country propels the demand for the airport electric vehicle charging station market. For instance, Munich Airport in Germany installed Germany’s largest electric car fast-charging point in collaboration with European carsharing service DriveNow and automation technology firm ABB. Such factors are expected to propel the growth of the airport EV charging station market in the country during the forecast timeframe.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a significant impact on the global airport EV charging station market due to widespread disruptions in global supply chains, economic activity, and production shutdowns. However, the pandemic’s impact on the automotive industry with the growing vaccination numbers globally is expected to come down gradually over the span of a couple of years. The post-pandemic demand for electric vehicle charging system-backed solutions is expected to grow appreciably as they offer superior comfort and safety to vehicles.

KEY FINDINGS OF THE STUDY

• By mode of charging, the wireless charging segment is expected to register significant growth during the forecast period.
• By charging level, the level 3 segment is anticipated to exhibit significant growth in the near future.
• By product type, the wireless pad segment is projected to lead the global airport electric vehicle charging station market owing to a higher CAGR.
• By region, Asia-Pacific is anticipated to register the highest CAGR during the forecast period.