Peer To Peer Electric Vehicle Charging Market Trends [2031]

Segments - Peer-To-Peer Electric Vehicle Charging Market by Applications (Commercial and Residential), Charger Types (Level 1 and Level 2), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

Author : Akash Vedpathak

Fact-checked by : Vineet Pandey

Editor : Shruti Bhat

Report Description

The global peer-to-peer electric vehicle charging market size was USD 1.08 Billion in 2022 and is likely to reach USD 5.57 Billion by 2031, expanding at a CAGR of 20% during 2023–2031. The growth of the market is attributed to the rise in demand for electric vehicles (EVs) across the globe.

Peer-to-peer (P2P) charging is a system in which users publicly share the personal EV charging ports with other EV owners. When private owners are not using their charge points, they can use the P2P charging system to make them available to the public. This directly helps in building robust & wide infrastructure for EV charging points and helping users affected by range anxiety issues.

Peer To Peer Electric Vehicle Charging Market Outlook

Moreover, apartment and condo’s owners are progressively implementing EV charging stations as a way to generate cash, recuperate electricity expenses, and draw attractive tenants. The outbreak of the COVID-19 pandemic has hampered the market growth as it influenced governments across the globe to emphasize the implementation of stringent lockdown and resulted in a global economic crisis.

This has led to have a negative impact on investments in EV charging infrastructure development. However, the market is slowly coming back to its normal track and expected to expand at a rapid pace as the virus cases have subsided across several countries.

Peer-To-Peer Electric Vehicle Charging Market Trends, Drivers, Restraints, and Opportunities

Strict government policies to impose ban on fossil-based gas vehicles in wide attempt to curb carbon emission in the coming years are expected to fuel the growth of the EV charging market.
Development of blockchain transaction platforms for electric car charger promoted by major companies is anticipated to boost the market growth during the forecast period.
Production & procurement of lithium-ion batteries after the COVID-19 outbreak has become challenging for major industries. This is expected to hamper the growth of the market.
Due to the lack of EV charging infrastructure across the globe, it created a range anxiety issues for users and can act as major restraining factor for the market.
Government initiatives have mandated EV charging to be available in parking spaces in residential complexes, which is likely to provide potential growth opportunities for P2P EV charging market.

Scope of Peer-To-Peer Electric Vehicle Charging Market Report

The report on the global peer-to-peer electric vehicle charging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Peer-To-Peer Electric Vehicle Charging Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Applications (Commercial and Residential) and Charger Types (Level 1 and Level 2)
Regional Scope	Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	Enel X; Chargepoint Inc.; Webasto Group; Power Hero; EVBox; EV Meter; Greenlots; has·to·be gmbh; Innogy; and ClipperCreek, Inc.

Peer-To-Peer Electric Vehicle Charging Market Segment Insights

Residential segment to witness robust market share

Based on applications, the global peer-to-peer electric vehicle charging market is bifurcated into commercial and residential. The residential segment is expected to witness robust market share during the forecast period owing to putting more attention on the deployment of household chargers for P2P networks by the original equipment manufacturers.

However, the commercial segment is anticipated to hold a key share of the market in the coming years as various government initiatives encouraging commercial sector for the deployment of P2P networks.

Peer To Peer Electric Vehicle Charging Market Application

Level-2 segment is expected to grow at a rapid pace

On the basis of charger types, the market is segregated into level-2 and level-1. The level-2 segment is expected to grow at a rapid pace and is projected to continue the dominance during the forecast period. Government agencies are prioritizing the formation of collaborations with P2P EV charging software developers, with the goal of developing level-2 chargers at multi-unit residences, thereby, driving the market segment growth.

On the other hand, the level-1 segment is anticipated to account for considerable market share during the forecast period. The rise in the number of government initiatives such as the installation of workplace charging station is a key factor contributing to the growth of the segment. The workplace charging challenge aims to install level-1 chargers at private enterprise offices as part of P2P network.

North America to constitute a key market share

In terms of regions, the global peer-to-peer electric vehicle charging market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the projected period attributed to the rise in number of companies operating in the P2P EV charging area across the region.

However, the market of Asia Pacific is anticipated to expand at a rapid pace during the forecast period as governments from different regions offering attractive incentives on EVs, which is projected to spur the presence and create numerous opportunities for P2P EV networks in the region.

Peer To Peer Electric Vehicle Charging Market Region

Segments

The global peer-to-peer electric vehicle charging market has been segmented on the basis of

Applications

Commercial
Residential

Charger Types

Level-1
Level-2

Regions

Asia Pacific
North America
Latin America
Europe
Middle East & Africa

Key Players

Enel X
Chargepoint Inc.
Webasto Group
Power Hero
EVBox
EV Meter
Greenlots
has·to·be gmbh
Innogy
ClipperCreek, Inc.

Competitive Landscape

Key players competing in the global peer-to-peer electric vehicle charging market are Enel X; Chargepoint Inc.; Webasto Group; Power Hero; EVBox; EV Meter; Greenlots; has·to·be gmbh; Innogy; and ClipperCreek, Inc.

Companies are focusing on business strategies such as partnerships, collaborations, and merger & acquisitions to expand their market share. Furthermore, key players are also engaging to expand their capacity to leverage their market position. In February 2021, Enel X established a collaboration with EnergyHub, an energy consulting firm, to expand the use of smart charging stations as a flexible energy source for utilities.

In March 2021, Chargepoint Inc. announced a cooperation with Volvo automobiles for a built-in Chargepoint Inc. app that expected to provide Volvo car drivers with smooth charging functionality.

Peer To Peer Electric Vehicle Charging Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Peer-To-Peer Electric Vehicle Charging Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Peer-To-Peer Electric Vehicle Charging Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Peer-To-Peer Electric Vehicle Charging Market - Supply Chain
  4.5. Global Peer-To-Peer Electric Vehicle Charging Market Forecast
     4.5.1. Peer-To-Peer Electric Vehicle Charging Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Peer-To-Peer Electric Vehicle Charging Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Peer-To-Peer Electric Vehicle Charging Market Absolute $ Opportunity
5. Global Peer-To-Peer Electric Vehicle Charging Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Peer-To-Peer Electric Vehicle Charging Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Peer-To-Peer Electric Vehicle Charging Demand Share Forecast, 2019-2026
6. North America Peer-To-Peer Electric Vehicle Charging Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Peer-To-Peer Electric Vehicle Charging Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Peer-To-Peer Electric Vehicle Charging Demand Share Forecast, 2019-2026
7. Latin America Peer-To-Peer Electric Vehicle Charging Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Peer-To-Peer Electric Vehicle Charging Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Peer-To-Peer Electric Vehicle Charging Demand Share Forecast, 2019-2026
8. Europe Peer-To-Peer Electric Vehicle Charging Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Peer-To-Peer Electric Vehicle Charging Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Peer-To-Peer Electric Vehicle Charging Demand Share Forecast, 2019-2026
9. Asia Pacific Peer-To-Peer Electric Vehicle Charging Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Peer-To-Peer Electric Vehicle Charging Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Peer-To-Peer Electric Vehicle Charging Demand Share Forecast, 2019-2026
10. Middle East & Africa Peer-To-Peer Electric Vehicle Charging Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Peer-To-Peer Electric Vehicle Charging Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Peer-To-Peer Electric Vehicle Charging Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Peer-To-Peer Electric Vehicle Charging Market: Market Share Analysis
  11.2. Peer-To-Peer Electric Vehicle Charging Distributors and Customers
  11.3. Peer-To-Peer Electric Vehicle Charging Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Enel X
     11.4.2. Chargepoint Inc.
     11.4.3. Webasto Group
     11.4.4. Power Hero
     11.4.5. EVBox
     11.4.6. EV Meter
     11.4.7. Greenlots
     11.4.8. has·to·be gmbh