Report Code : A323396
According to a recent report published by Allied Market Research, titled, “U.S., Canada, and UK Airport Electric Vehicle Charging Station Market by Mode of Charging, Product Type, Charging Level and User Type: Regional Opportunity Analysis and Industry Forecast, 2023-2033,” The U.S., Canada and UK airport electric vehicle charging station market is valued for $108.73 million in 2023 and is estimated to reach $797.41 million by 2033, exhibiting a CAGR of 22.52% from 2024 to 2033.
Presently, the U.S., Canada and UK airport electric vehicle charging station industry is dominated by the U.S. followed by the UK, and Canada. The UK is expected to maintain significant growth in the market, owing to technological advancements in charging stations and growth in vehicle standards across the UK such as strict emission limits. For instance, till January 2023, the UK initiated 17 projects focused on advancing electric vehicle (EV) battery technologies.
These projects, funded with $30.02 million from UK Research and Innovation (UKRI) through Innovate UK, aim to enhance the country’s competitiveness throughout the battery value chain. Airport charging stations are stations that power electric vehicles. Airports are typically public or private transportation hubs for passengers and employees of various airlines, and railroads and ancillary facilities such as parking lots and sidewalks. Different types of airports have different electrical requirements for powering vehicles at that location, requiring the right solution for each location within the airport premises. The growth of the U.S., Canada and UK airport electric vehicle charging station market is propelling, due to growth in the production of electric vehicles, surge in number of air passengers, and rise in number of airports.
However, the high cost of electric vehicle charging infrastructure, and lack of standardization of current EV charging infrastructure are the factors hampering the growth of the market. In addition, technological advancements in the field of EV charging stations such as solar-powered charging stations are expected to offer growth opportunities during the forecast period.
Several players in the market are working on technologies such as wireless charging pads, which may make vehicle charging convenient. The airport EV charging station market is experiencing significant growth driven by several key trends. The increasing adoption of electric vehicles (EVs) globally, coupled with growing environmental concerns, is pushing airports to provide charging infrastructure to meet the needs of travelers and airport fleets.
Government initiatives and regulations aimed at reducing carbon emissions are incentivizing airports to invest in sustainable transportation solutions, including EV charging stations. Thirdly, technological advancements such as faster charging speeds and smart charging systems are making EV charging more convenient and efficient, further encouraging airport authorities to invest in these facilities. Additionally, partnerships between airports, EV manufacturers, and energy companies are emerging, leading to innovative business models, and expanded charging networks. Overall, these trends are driving the growth of the airport EV charging station market, with airports increasingly recognizing the importance of accommodating the growing number of electric vehicles in their facilities.
On May 2023, Siemens eMobility announced the introduction of the latest iteration of VersiCharge AC Series electric vehicle (EV) chargers, designed for both commercial and residential use. This groundbreaking EV charger sets a new industry standard by integrating with building management systems, granting operators the ability to monitor, manage, and make real-time adjustments to the system. The third generation of AC charging, known as VersiCharge, provides convenient tools for power demand adjustment, precise energy usage metering, and enhanced network connectivity for electric vehicle service providers, buildings, and automation systems. The UL/cUL-certified model offers up to 11.5 kW of alternating current (AC) charging power and includes various configurations tailored to multi-family residences, workplaces, and utility applications.
Furthermore, the evolving preferences of travelers are also shaping the airport electric vehicle charging station market. With more consumers opting for sustainable transportation options, including electric vehicles, airports are under pressure to cater to this demand to enhance their competitiveness and meet passenger expectations. This trend is particularly prominent in regions where sustainability and eco-friendly practices are highly valued.
Moreover, the rise of electric airport ground support equipment (GSE) is contributing to the demand for EV charging infrastructure within airports. Electric baggage tugs, aircraft pushback tugs, and other electric GSE require reliable charging facilities to operate efficiently, prompting airports to invest in comprehensive charging solutions.
In addition, the integration of renewable energy sources into EV charging infrastructure. Airports are increasingly looking to solar, wind, or other renewable energy sources to power their charging stations, aligning with their sustainability goals and reducing reliance on the grid.
The airport EV charging station market is characterized by a combination of environmental consciousness, technological innovation, regulatory support, and shifting consumer preferences, all of which are driving rapid expansion and evolution in this sector.
According to Vaishnavi Mate, Lead Analyst, Aerospace and Defense at Allied Market Research, “The U.S., Canada and UK airport electric vehicle charging station market is experiencing robust growth driven by increasing demand for level 2 charging level chargers and public charging stations.”
KEY FINDINGS OF THE STUDY
The key players analyzed in this report are ABB Ltd., Blink Charging Co., Delta Electronics, Inc., Electroair OU, General Electric Company, Siemens AG, Webasto Group, Eves LLC, Plugless Power Inc., Ningbo Dekon New Energy Co., Ltd.
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U.S., Canada, and UK Airport Electric Vehicle Charging Station Market by Mode of Charging (Plug-in Charging, and Wireless Charging System), Product Type (Standing Type, Wall-Mounted Type, and Wireless Pad), Charging Level (Level 2, and Level 3) and User Type (Public Charging Stations and Fleet Charging Stations): Opportunity Analysis and Industry Forecast, 2024 - 2033
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