Charging As A Service Market Worth $2,135.0 Million In 2035, Globally, At A CAGR Of 29.1%, Says Marketsandmarkets™

Key Findings of the Study:

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Auto-dealerships and OEM operated charging spaces to hold the significant share in semi-public charging setup segment.

OEM partnerships with Charge Point Operators (CPOs) and EV charging strategies for auto dealerships are driving the expansion of EV infrastructure. From 2021 to 2023, major OEMs formed key collaborations to enhance charging access. In July 2023, BMW, Mercedes-Benz, Honda, Hyundai, Kia, Stellantis, and GM announced a joint venture to build a high-power charging network in North America. Around the same time, Hyundai, Volvo, Polestar, GM, and Ford secured access to Tesla's NACS Supercharger network, enabling their EVs to use Tesla's charging infrastructure. Earlier in the year, Mercedes-Benz launched a charging network in collaboration with ChargePoint. In 2022, Hyundai expanded its Ionity partnership in Europe, GM integrated multiple CPOs into its Ultium Charge 360 network, and Rivian developed its Adventure Network alongside Electrify America. In December 2024, ChargePoint and General Motors announced plans to install up to 500 ultra-fast EV charging ports across the U.S. under the GM Energy brand. The network is expected to be operational by the end of 2025. Also, these chargers will feature ChargePoint's Omni Port system, allowing vehicles with CCS or NACS connectors to charge without an adapter. The deployment will also include ChargePoint's Express Plus platform, offering charging speeds up to 500kW.

“North America is expected to be the significant Charging as a Service market by 2035.”

Charging as a Service in North America is expanding due to investments in infrastructure, technology, and partnerships. The expansion of Charging as a Service in North America has improved EV accessibility, reduced charging downtime, and supported grid stability. OEMs and charging providers are adding high-power charging networks. For instance, in February 2024, Ionna, a joint venture by Mercedes-Benz, BMW, General Motors, Stellantis, Honda, Hyundai, and Kia, planned to install 30,000 high-power chargers in the region. Tesla is expanding its Supercharger network and has started opening it to non-Tesla EVs. ChargePoint and Electrify America continue to expand Level 2 and DC fast-charging stations. The launch of Ionna and the expansion of Tesla's Supercharger network have increased the availability of high-power chargers, reducing range anxiety for EV owners. The decision to open Tesla Superchargers to non-Tesla vehicles has also improved interoperability, benefiting a wider range of EV users.

CPOs such as ChargeScape are backed by OEMs like Ford, Honda, BMW, and Nissan, to utilize the energy and supply power to the grid. Many CPOs are improving infrastructure through software and partnerships. For instance, Monta, a Danish software company, entered the U.S. market in 2024 to manage one million charging points. Further, Flo, a Canadian CPO, is expanding its North American presence with fleet, commercial, and residential charging solutions. Software-driven infrastructure management by Monta and Flo has optimized network reliability, ensuring better uptime for public and private charging stations. Also, Volta Charging, now owned by Shell, offers ad-supported public charging in high-traffic locations. Volta Charging's ad-supported model has made public charging more cost-effective, encouraging EV adoption in urban areas.

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Recent Developments:

• In December 2024, Tesla (US) launched the Megapack Charger Station with four Megapack Chargers in the US to support increased travel during the holiday season.
• In November 2024, ChargePoint introduced the ChargePoint Essential cloud plan as an alternative to traditional cloud subscriptions. Instead of a fixed subscription fee, the software cost is covered by user-charging payments, with any extra revenue going to the station owner. This plan reduces upfront costs, making EV charging more accessible to customers.
• In October 2024, EVBox (France), an ENGIE (France) subsidiary, collaborated with the Illinois Department of Natural Resources to install EV charging stations at state parks, museums, and beaches across Illinois. EVBox donated 40 charging stations to provide EV drivers convenient access to charging facilities throughout the state.
• In September 2024, ChargePoint introduced an AI-powered driver support tool to diagnose and repair charging stations. It is the first AI-driven system in the EV charging industry designed to detect and resolve charger issues, enhancing reliability.
• In June 2024, TELD New Energy (China), a subsidiary of TGOOD Global Ltd. (China), collaborated with ENEOS Corporation to develop EV charging stations and microgrid solutions in China. Both companies aim to establish a joint venture in Beijing, with each company holding a 50% stake.

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