Stationary Electric Vehicle Charging Gun Market Size, Share, Growth, and Industry Analysis, By Type (DC Charging Gun, AC Charging Gun), By Application (Commercial Vehicle, Passenger Car) and Regional Forecast to 2032

Updated On: 15 April 2024

STATIONARY ELECTRIC VEHICLE CHARGING GUN MARKET REPORT OVERVIEW

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The global stationary electric vehicle charging gun market size expanded rapidly in 2024 and the market is projected to grow substantially by 2032, exhibiting a prodigious CAGR during the forecast period.

The stationary electric vehicle charging gun market refers to the industry that manufactures and supplies charging guns or connectors used for charging electric vehicles (EVs) at stationary charging points. These charging guns are essential components of charging infrastructure and enable the connection between the charging station and the electric vehicle, allowing for the transfer of electrical power to recharge the vehicle's battery.

Key aspects of the stationary electric vehicle charging gun market include the development and production of various types of charging guns, such as AC (alternating current) and DC (direct current) connectors, for different EV charging standards. The market is influenced by the growing adoption of electric vehicles, the expansion of charging infrastructure, and advancements in charging technology to meet the evolving needs of EV users. Additionally, regulatory standards and compatibility with various vehicle models are significant factors in this market, as they impact the design and production of these charging connectors.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic caused disruptions in global supply chains, affecting the manufacturing and availability of components and charging equipment, including charging guns. This could have led to delays and supply shortages. The economic instability brought about by the pandemic had an impact on consumer expenditure. Some individuals and businesses may have delayed or scaled back investments in EVs and charging infrastructure, including stationary charging guns. The pandemic led to a decline in public transportation and travel, resulting in reduced usage of public charging stations. This decline in demand for public charging infrastructure may have affected the market for stationary charging guns used in public locations.

The electric vehicle market remained relatively resilient during the pandemic, as many governments continued to support green initiatives and sustainable transportation. This resilience benefited the stationary EV charging infrastructure market, including the charging gun segment. With the increase in remote work, some EV owners had more time for charging their vehicles at home. This positively impacted the residential charging segment, where stationary EV charging guns are commonly used.

LATEST TRENDS

"Increased Charging Speed in Stationary Electric Vehicles to Drive Market Growth"

The development of faster charging technologies has been a prominent trend. Manufacturers are working on high-power DC charging solutions that allow for quicker charging times, making EVs more convenient for users. Charging guns that support multiple charging standards (such as CCS, CHAdeMO, and Type 2) have gained importance, as they enhance the interoperability of charging stations and make them suitable for a wide range of EVs. Many charging guns now come with smart features, such as mobile app integration, remote monitoring, and data analytics, providing users with more control and insight into their charging sessions. Some manufacturers are incorporating sustainable materials and production methods in their charging guns to align with broader environmental initiatives.

STATIONARY ELECTRIC VEHICLE CHARGING GUN MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into DC charging gun, AC charging gun.

A DC Charging Gun is designed for Direct Current (DC) fast charging and provides high-power, rapid charging for electric vehicles, while an AC Charging Gun is used for Alternating Current (AC) charging, often at a slower rate, typically suited for home or destination charging.

By Application

Based on application the global market can be categorized into commercial vehicle, passenger car.

A commercial vehicle is designed for the transportation of goods or passengers for business purposes, while a passenger car is a private vehicle primarily intended for personal transportation.

DRIVING FACTORS

"Increasing Electric Vehicle Adoption and Government Initiatives to Boost the Market"

One of the key driving factors in the global stationary electric vehicle charging gun market growth is increasing electric vehicle adoption and government initiatives. The growing popularity of electric vehicles (EVs) globally drives the demand for charging infrastructure, including stationary charging guns, to support the expanding EV user base. Many governments worldwide offer incentives, subsidies, and regulations to promote EV adoption and the development of charging infrastructure, incentivizing both consumers and businesses to invest in stationary charging solutions. The development of charging guns that can support multiple charging standards and vehicle types enhances interoperability and the user-friendliness of EV charging, further propelling the market.

"Increasing Urbanization and Advancements in Technology to Expand the Market"

Ongoing technological advancements, such as faster charging speeds, improved safety features, and enhanced user experience, encourage investments in upgraded and efficient charging equipment, including charging guns. Urbanization trends and smart city initiatives promote the development of charging infrastructure in cities, supporting convenient and sustainable urban mobility. Concerns about environmental sustainability and reducing greenhouse gas emissions push individuals and organizations to transition to EVs, spurring the need for accessible and convenient charging infrastructure.

RESTRAINING FACTORS

Limited Space and Infrastructure Access to Potentially Impede Market Growth

In densely populated urban areas, finding suitable locations for charging stations can be difficult, and the lack of available space can constrain the growth of the charging network. Some consumers prefer charging their EVs at home or work, reducing the demand for public charging infrastructure, including stationary charging guns. The installation and setup of charging infrastructure, including stationary charging guns, can be expensive. High upfront costs may deter some businesses and municipalities from investing in charging solutions. The availability and sourcing of clean energy for EV charging can be a restraining factor, as sustainable and affordable energy sources are vital for the environmental benefits of electric vehicles.

STATIONARY ELECTRIC VEHICLE CHARGING GUN MARKET REGIONAL INSIGHTS

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"North American Region Dominating the Market due to Presence of a Large Investment "

North America has emerged as the most dominant region in the global stationary electric vehicle charging gun market share due to several factors. North America, particularly the United States and Canada, is considered a major shareholder in the stationary electric vehicle charging gun market It’s a major player in the global electric vehicle market, with rapid growth. The high adoption rate of electric vehicles, including passenger cars, commercial vehicles, and public transportation, drives the demand for charging infrastructure, including stationary charging guns. They have federal and state/provincial government incentives and regulations to promote electric vehicle adoption and the development of charging infrastructure. Subsidies, tax incentives, and environmental policies encourage investments in charging equipment.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The stationary electric vehicle charging gun market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive networks of charging infrastructure and online platforms, providing consumers with easy access to a wide variety of charging solutions. Their strong global presence and brand recognition have contributed to increased consumer trust and confidence in the reliability of charging equipment. Moreover, these industry leaders continually invest in research and development, introducing innovative charging technologies, enhanced safety features, and user-friendly interfaces in stationary charging guns, catering to evolving consumer needs and preferences. The actions of these major players have a big impact on how the market competes and where it's headed.

List of Market Players Profiled

• SINBON (Taiwan)
• Phoenix Contact (Germany)
• Suzhou Recodeal (China)
• Fisher Electronic Technology (China)
• Shenglan Technology (China)
• BULL (France)
• Kaiye Xinneng Yuan (China)

INDUSTRIAL DEVELOPMENT

• October 2023: ABB launches a new range of stationary electric vehicle charging guns that are designed to be more durable and efficient. The new guns are also equipped with a number of safety features, including a built-in temperature sensor and a short-circuit protection device.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.