E-Vehicle Portable Charging Device and Station Market Size, Share and COVID-19 Impact Analysis, By Electric Vehicle Type (Two-wheeler, Passenger Vehicle, and Commercial Vehicle), By Product Type (AC Charger and DC Charger), By Charging Level (Level 1, Level 2, and Level 3), and Regional Forecast, 2024-2032

An E-vehicle Portable charging device connects Electric Vehicles (EVs) and plug-in EVs to a source of electricity to recharge them. EV charging stations are installed at public locations, including parking areas, and shopping centers. These chargers are installed by private or electric utility companies and can also be installed at homes. These portable charging devices are available in various sizes and power configurations, such as Levels 1, 2, and 3.

Key Market Insights

Supportive government regulations and increasing investment to strengthen the EV charging infrastructure to support the rapid adoption of electric vehicles are major drivers propelling the E-vehicle portable charging device and station growth. For instance, in November 2021, the U.S. government allocated a fund of USD 7.5 billion under the Bipartisan Infrastructure Law for EV charging stations, providing funding for several EV-related projects and initiatives. Such investments will benefit rural communities across the country by allowing a ready source of capital for EV-related infrastructure projects.

Growing investment in R&D for smart charging stations and battery plants by manufacturers and government authorities plans to become carbon neutral, and significantly lower emission levels are anticipated to support the market demand of the E-vehicle portable charging device and station market. For instance, in October 2022, The European Parliament,  a legislative body of the European Union, implemented minimum requirements for charging infrastructure for electric cars, addressing concerns that drivers cannot charge their EVs when going on longer trips.

Significant investments are made in the EVs and battery space to accelerate the growth of the EV industry. In 2022, Ford, GM, and Toyota announced U.S. investments of nearly USD 20 billion in the coming years to establish battery plants that will be crucial for the EV industry. For instance, in 2019, the Austrian government launched the EV charging initiative, e-Mobility Offensive, which includes a massive increase in federal funding for EVs, residential and commercial charging infrastructure.

Impact of COVID-19 on the E-Vehicle Portable Charging Device and Station Market

The government-enforced lockdowns and economic crisis induced due to the Covid-19 pandemic severely impacted the global supply chain and resulted in semiconductor shortages. The global shortage of semiconductor chips has toppled the automotive industry. In 2021, the automotive industry suffered a loss of over USD 200 billion due to the global microchip shortage. Delay in the production of EVs in domestic and most international markets, and reduced demand for EVs in 2020, impacted the development of the portable charging device market.  For instance, during the COVID-19 pandemic, EV manufacturers, including Tesla, Ford, and GM, shifted factories to make medical ventilators. However, COVID-19 also stimulated future demand for EVs. For instance, EV sales in Europe were 55% higher due to supportive policies to promote EV sales in 2021. As per the IEA report, over 500 000 chargers were installed in 2021. The e-vehicle portable charging device and station market is anticipated to witness a significant boom over the forecast period owing to stimulus government packages to strengthen the EV infrastructure and rapid investment by OEMs in the EV market.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.


• Porter’s Five Forces Analysis.


• Technological Developments.


• Impact of COVID-19 on the E-Vehicle Portable Charging Device and Station Market.

Analysis by Electric Vehicle Type

The passenger vehicle segment held a significant market share in 2021 and is expected to grow at a significant CAGR over the forecast period. The rising demand for electric passenger cars in recent years is accelerating the need for E-vehicle portable charging stations and devices. OEMs are focusing on introducing new portable e-vehicle charging devices leveraging the latest technologies to capture significant market share. For instance, in November 2021, ZipCharge launched a portable power bank for electric vehicles. The power bank is the same size as a suitcase, with wheels and a retractable handle. It offers between 20-40 miles of range when fully charged, depending on the EV. It takes between 30-60 minutes to transfer that charge to a vehicle's battery using a standard Type 2 cable

Regional Analysis

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Asia Pacific will dominate the E-vehicle portable charging device and station market in 2022. The positive market outlook can be attributed to rising fuel costs, in tandem with a fall in the cost of battery production. Moreover, strict laws regarding vehicular emission and supportive government policies to support EV adoption are anticipated to drive the market growth of the E-vehicle portable charging device and station market over the forecast period. As per the National Development and Reform Commission Report 2022, China announced to build of charging stations for 20 million EVs by 2025. The government also encouraged favorable banking policies and offered direct financial subsidies for companies to build EV charging facilities. All such factors are anticipated to propel regional growth over the forecast period.

Key Players Covered

Power Sonic - Battery Solutions Division (EVES LLC) (U.S.), SparkCharge (Canada), Okaya Power Pvt. Ltd. (India), AG Electrical Technology Co., Ltd  (China), Renesas Electronics Corporation (China), JTM Power Limited (India), Heliox Energy (Netherlands),  Shenzhen SETEC Power Co., Ltd. (China), FreeWire Technologies, Inc. (U.S.), and EV Safe Charge Inc. (U.S.)

Segmentation

Key Industry Developments

• August 2022: Juice Americas Inc., the U.S. subsidiary of Swiss-based Juice Technology AG, one of the market leaders in portable chargers for EVs, announced the launch of J+ BOOSTER 2, a portable two-in-one EV charger, in the North American Market. With J+ BOOSTER 2, EV owners can simply take their EV charger on the road to charge their EV from any conventional power socket outlet.


• August 2022: Sunrun Inc., a leading battery storage, home solar, and energy services provider, launched its new Level 2 EV charger to support the growing demand for EVs in the U.S. The new product is a part of the company’s home energy management solutions and is compatible with all EV models. The charger also provides smart features, allowing customers to configure charger settings and control charging.