Charging as a Service Market worth $2,135.0 million in 2035, Globally, at a CAGR of 29.1%, says MarketsandMarkets™
Delray Beach, FL, April 29, 2025 (GLOBE NEWSWIRE) -- Charging as a Service Market size is projected to grow from USD 165.9 million in 2025 to USD 2,135.0 million in 2035, at a CAGR of 29.1%, as per the recent study by MarketsandMarkets™. As EV adoption accelerates, fleet operators face significant challenges in development and management of charging infrastructure. Charging as a Service has emerged as a strategic solution to address these challenges by shifting the responsibility of infrastructure development and maintenance to specialized providers. It allows businesses to access and manage EV charging without ownership which reduces the upfront investment while ensuring reliability and scalability. Charging as a service Providers handle infrastructure planning, permitting, installation, and ongoing operations, including monitoring, repairs, and energy optimization through a Charge Management System. The model converts capital expenditure into a predictable operational expense, offering flexible pricing structures such as pay-per-use or subscription-based plans. It also eliminates the technical and financial barriers to simplify fleet electrification and allows businesses to focus on core operations while ensuring long-term efficiency and sustainability.
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List of Key Players in Charging as a Service Market:
- ChargePoint, Inc. (US)
- Tesla (US)
- ENGIE (France)
- TGOOD Global Ltd. (China)
- State Grid Corporation of China (China)
Drivers, Opportunities and Challenges in Charging as a Service Market:
- Driver: Collaborations between local companies and charge point operators
- Restraint: Grid capacity constraints
- Opportunity: Advent of shared charging solutions in multi-unit dwellings
- Challenge: Lack of standardization and protocols
Key Findings of the Study:
- DC charger to be fastest-growing segment during forecast period
- Auto-dealerships and OEM operated charging spaces to hold the significant share in semi-public charging setup segment
- North America is expected to be the significant Charging as a Service market by 2035
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The expansion of public charging networks is essential for long-distance travel, fleet electrification, and urban charging solutions for users without home or workplace charging access. are the stations are accessible to all EV users, typically found in high-traffic locations such as highways, urban centers, and transit hubs. The developed markets such as North America, Europe, and parts of Asia have seen significant growth in public charging networks, facilitated by growing charger utilization, increasing profitability of charging business models, and viability of setting up public charging stations with Charging as a Service. The key drivers behind the expansion of public charging infrastructure include government-backed investments, rising EV adoption rates, and the necessity for fast charging along highways and urban centers. Government initiatives such as the U.S. NEVI program and the EU's Alternative Fuels Infrastructure Regulation mandate the installation of fast chargers at strategic locations. Additionally, the growing consumer base for EVs has increased demand for reliable and high-speed charging infrastructure, further incentivizing investment in this sector. The market is supported by the expansion of key fast-charging networks such as Tesla Supercharger, Ionity, Electrify America, and EVgo. Tesla's Supercharger network leads in high-efficiency deployment, offering up to 350 kW charging, while Ionity is expanding its 350 kW stations across European highways. Electrify America continues to scale its ultra-fast charging footprint in the U.S., and EVgo is focusing on urban charging hubs to address inner-city demand.
Asia Pacific is projected to be the largest market for charging as a service market, with China South Korea, Japan and India, leading the market during the forecast period. This growth can be attributed to government incentives, rising EV adoption, urbanization, private sector investments, technological advancements, and grid modernization with renewable integration. Leading Charging as service providers are driving EV charging infrastructure expansion across major markets. In Japan, ENECHANGE, Toyota Connected, PLUGO, and Mitsubishi provide smart and accessible charging solutions. Also, Nissan collaborates with Better Place to expand EV charging access in cities like Yokohama. In China, Xiaomi partners with NIO, XPeng, and Li Auto to provide charging access, while CATL plans to establish over 1,000 battery-swapping stations. In India, Tata Power EZ Charge, Statiq, Jio-bp Pulse, and ChargeZone are rapidly deploying fast-charging networks with app-based services. In China, TELD, Star Charge, State Grid, and Xiaoju Charging operate extensive networks to support the country’s vast EV market. In South Korea, KEPCO, Evar, Charzin, and GS Caltex are enhancing nationwide coverage with smart charging solutions, reinforcing the country’s push for EV adoption. Governments in the region are promoting the EV charging infrastructure and fleet electrification and assisting key OEMs like as BYD, BYD, Yutong, King Long, and Foton in China; Hino Motors, Toyota, and BYD Japan in Japan; Hyundai Motor and Edison Motors in South Korea; and Tata Motors, Ashok Leyland, JBM Auto, and Olectra Greentech in India.
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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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