Electric Vehicle Charging Gun Market To Reach USD 3,142.7 Million by Year 2030

Market Overview:

The global electric vehicle charging gun market size was valued at USD 325.2 million in 2022. The market is projected to grow from USD 425.3 million in 2023 to USD 3,142.7 million by 2030, exhibiting a CAGR of 33.1% during the forecast period.

The charging guns play a crucial role in connecting the charging devices to the rechargeable batteries of vehicles. Acting as a bridge between the control box and the chargers, they ensure consistency and safety in the circuitry. The rise in the usage of biofuels has led to higher levels of air pollution, resulting in an increase in respiratory and other diseases globally. To address these challenges, there is a growing emphasis on reducing carbon footprint and transitioning to clean and sustainable energy sources. This shift in focus is driving the growth of the global EV charger market. Factors such as consumer awareness of vehicle emissions, a growing environmental consciousness, improved living standards, and the adoption of advanced technologies are all contributing to the expansion of the global EV charging gun market.

Top Key Players Covered In The Electric Vehicle Charging Gun Market:

ABB Ltd. (Switzerland)
Robert Bosch GmbH (Germany)
Siemens AG (Germany)
Delphi Automotive (UK)
Chroma ATE (Taiwan)
Aerovironment Inc.(US)
Silicon Laboratories (US)
Chargemaster PLC (UK)
Schaffner Holdings AG (Switzerland)
POD Point (UK) And Other Major Players.

Market Dynamics and Factors:

The growing adoption of electric vehicles is driving the demand for charging infrastructure, which includes charging guns. Governments worldwide are implementing policies and providing incentives to promote the adoption of electric vehicles. These initiatives include subsidies, tax credits, and grants for EV purchases, as well as the development of charging infrastructure. Such support encourages consumers to switch to electric vehicles, driving the demand for charging infrastructure and charging guns. Factors such as environmental concerns, technological advancements, and expanding charging infrastructure, all contribute to the growth of the global electric vehicle charging gun market.

the opportunity of an affordable electric vehicle charging gun in the global market has the potential to drive widespread adoption of electric vehicles. enhance market competitiveness, Market Accessibility foster market expansion, and support the transition toward sustainable transportation. It enables greater accessibility, cost savings, and market inclusivity, making electric vehicle charging infrastructure more attainable for a wider range of consumers.

The Electric Vehicle Charging Gun Market Report Highlight:

By Charging Type, the Onboard segment is anticipated to lead the growth of the Electric Vehicle Charging Gun market in the forecasted timeframe. The onboard charger segment is crucial for the convenience of electric vehicle owners as it enables charging at home, work, or public charging stations.
By Vehicle Type, the Battery Electric Vehicle (BEV) segment is expected to have the highest share of the Electric Vehicle Charging Gun market over the projected period. Because BEV owners heavily rely on charging infrastructure to recharge their vehicle's batteries.
By End Users, the Residential segment is anticipated to lead the growth of the Electric Vehicle Charging Gun market in the forecasted timeframe. Because the residential segment refers to the installation of electric vehicle charging infrastructure in private homes and residential areas.
The Asia-Pacific region is expected to have the highest share of the Electric Vehicle Charging Gun market over the projected period The Asia-Pacific region, which includes countries such as China, Japan, and South Korea, has been at the forefront of electric vehicle adoption and charging infrastructure development.

Key Industry Development:

In September 2021, ABB introduced the Terra 360, an all-in-one EV charger that provides the fastest charging experience available. This modular charger has the ability to charge up to four vehicles simultaneously using dynamic power distribution. This ensures that drivers won't have to wait if someone is already charging ahead of them, making the charging process more efficient and convenient.

Electric Vehicle Charging Gun Market Segmentation:

By Charging Type