Fleet Charging Market is predicted to reach USD 26,441.3 million at a CAGR of 23.1% during the forecast period 2023-2032

Market Research Future (MRFR) has published on the “Global Fleet Charging Market”.

The Fleet Charging market is estimated to register a CAGR of 23.1% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Fleet Charging market— ABB, ChargePoint, Inc., Phihong USA Corp., EV Safe Charge Inc., Tesla, Electrify America, Blink Charging Co., EVgo Services LLC, CyberSwitching, and Siemens.

Market Highlights

The global Fleet Charging market is accounted for to register a CAGR of 23.1% during the forecast period and is estimated to reach USD 26,441.3 million by 2032.

Rising fuel prices and environmental concerns drive the demand for commercial electric vehicles and infrastructure in the fleet charging market. As fuel costs continue to increase, commercial fleet operators are looking to reduce operating expenses through electrification. Electric vehicles allow businesses to avoid volatile fuel prices and lower their total cost of ownership over time. Additionally, many countries and local governments are implementing policies to curb greenhouse gas emissions from the transportation sector. This is putting pressure on fleet owners to transition to electric vehicles.

The demand for electric trucks and vans is increasing as a result. However, a lack of adequate charging infrastructure can limit the adoption of electric fleets. Companies and governments are investing heavily in building a network of public and private charging stations to support more widespread electrification. For instance, in the UK, the total number of EV charging stations has increased by 1,915 stations since January 2022, an increase of 7%. In this expansion, 338 more rapid chargers were added, showing an expansion of 7%, according to GovUK, 2022. This expansion was carried out throughout the region to make EV charging stations accessible in remote areas. The charging infrastructure will help alleviate range and availability concerns as it expands. More widespread availability of fleet charging solutions can further accelerate the adoption of electric vehicles for commercial applications.

Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Fleet Charging Market Research Report

Segment Analysis

The global Fleet Charging market has been segmented based on Offering, Installation Type, Type, Charging Level, Phase, Vehicle Type, End-User.

By offering the global fleet charging market is segmented into EV charging station and services The services segment is further bifurcated into installation services and support & maintenance services. EV Charging Station would be the majority shareholder in 2022, contributing around 80.6% to the market revenue. The growing adoption of smart and efficient transportation presents a significant opportunity in the fleet charging market.

By installation type the global fleet charging market is segmented into fixed and portable. Fixed would be the majority shareholder in 2022, contributing around 93.9% to the market revenue. As electric vehicles grow in popularity around the world, so does the demand for electric vehicle charging stations. According to IEA, there were 2.7 million public charging points worldwide, more than 900 000 of which were installed in 2022, about a 55% increase on 2021.

Based on type the global fleet charging market is segmented into AC Charging Station and DC Charging Station. AC Charging Station held the majority share in 2022. AC charging stations, also known as AC charging stations, are a type of electric vehicle (EV) charging infrastructure that uses the standard electrical grid. These convert alternating current from the grid into the direct current required by electric vehicle batteries through an integrated charger. AC charging stations are generally slower than DC charging stations and typically provide between 3 and 22 kilowatts (kW) of charging power.

By charging level the global fleet charging market is segmented into Level 2 and Level 3. Level 2 would be the majority shareholder in 2022, contributing around 63.8% to the market revenue. Level 2 charging, on the other hand, uses a special 240-volt AC power source that is commonly found at charging stations and in homes. This level charges faster than Level 1, allowing electric vehicles to charge faster and more efficiently.

By phase the global fleet charging market is segmented into single phase and three phase. Single phase would be the majority shareholder in 2022, contributing around 61.7% to the market revenue. The home private chargers are generally used with a single phase plug hence this segment occupies the largest share. 

By vehicle type the global fleet charging market is segmented passenger cars and commercial vehicles. The commercial vehicles is further bifurcated into light vehicle, medium vehicle and heavy vehicle. Passenger cars would be the majority shareholder in 2022, contributing around 61.7% to the market revenue. Electric vehicles amounted to some 14 percent of global passenger car sales in 2022. One in every 7 cars sold is an electric vehicle. According to IEA, electric car markets are seeing exponential growth as sales exceeded 10 million in 2022. In 2022, Tesla Model Y was the top-selling electric car by far.

Based on end-user, the global fleet charging market is segmented into service & last mile companies, trucking companies, public transportation and others. The service & last mile companies held the majority share in 2022. Electric vehicle fleet operators can collaborate with charging infrastructure companies, maintenance providers, and app developers to optimize last-mile delivery.

Regional Analysis

By Region, the study provides market insights into North America, Europe, Asia-Pacific, Middle East and Africa and South America. Asia-Pacific accounted for ~ 76.4% fleet charging market in 2022. Asia Pacific is likely to be the largest contributor to the fleet charging market. This includes countries such as China, Japan, India, South Korea, Thailand, Taiwan, Malaysia, Vietnam and Rest of Asia-Pacific. The electric vehicle fleet charging market in Asia Pacific has grown significantly in recent years and is expected to continue to grow rapidly. Several start-ups and established players have entered the market to meet this demand. As supportive government policies and initiatives drive the uptake of electric vehicles across the region, demand for public charging infrastructure is rapidly increasing. China was once again the front runner, accounting for around 60% of global electric vehicle sales. More than half of the electric vehicles on the world's roads are now in China, and the country's new energy vehicle sales have already exceeded the 2025 target.

North America is one of the fastest growing markets for fleet charging in the world. The United States installed 6,300 fast chargers in 2022, about three-quarters of which were Tesla Superchargers. The total stock of fast chargers reached 28 000 at the end of 2022. Deployment is expected to accelerate in the coming years following government approval of the National Electric Vehicle Infrastructure Formula Program (NEVI).

Key Findings of the Study

• The global Fleet Charging market is expected to reach USD 26,441.3 million by 2032, at a CAGR of 23.1% during the forecast period.


• The North America region accounted for the fastest-growing global market


• Based on Component, the fixed segment was attributed to holding the largest market in 2022, with an approximate market share of 93.9%.


• ABB, ChargePoint, Inc., Phihong USA Corp., EV Safe Charge Inc., Tesla, Electrify America, Blink Charging Co., EVgo Services LLC, CyberSwitching, and Siemens are some of the players in the market.