What Is The Current and Historic Market Size Analysis Of The Electric Mobility Networks Market?
The electric mobility networks market has seen considerable growth due to a variety of factors.
• Recent years have seen exponential growth in the size of the electric mobility networks market. It is projected to rise from $357.27 billion in 2024 to $455.06 billion in 2025, reflecting a compound annual growth rate (CAGR) of 27.4%.
The expansion during the historical period can be associated with numerous factors. These include escalating government stimuli and subsidies for EV adoption, heightened environmental consciousness and regulatory stress, plummeting battery technology costs, the broadening of EV charging frameworks, increased monetary backing from car manufacturers, and a growing public awareness and demand for eco-friendly transportation. Enhancements in the energy efficiency and performance of electric vehicles, the rise of intelligent grid technologies, as well as supportive policies aimed at reducing emissions have also contributed to this growth.
What Are The Predictions for The Electric Mobility Networks Market in the Coming Years?
The electric mobility networks market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of electric mobility networks is set to witness significant growth in the ensuing years, expanding to $1187.89 billion by 2029, flourishing at a compound annual growth rate (CAGR) of 27.1%.
The growth expected in this period is a result of the spread of both public and private EV charging networks, governmental mandates, tighter emissions regulations, heightened investments in renewable energy, the surge in urbanization and the demand for effective transport solutions, as well as collaborations between governmental bodies and private corporations and the rise in public and private charging stations. Key trends emerging in the forecast period encompass advancements in quick-charging technologies and infrastructure, the blending of renewable energy sources with charging networks, the emergence of vehicle-to-everything (V2X) communication technologies, alongside the introduction of vehicle-to-grid (V2G), and grid-to-vehicle (G2V) technologies.
Which Drivers Are Accelerating Growth In The Electric Mobility Networks Market?
The growth of the electric mobility network market is anticipated to be spurred by the increasing number of smart city initiatives. Smart cities utilize digital technology and data-driven solutions to enhance their performance and well-being while minimizing costs and resource use. The uptick in smart city projects is due to cities working to use technology to address urban problems and create more livable, sustainable, and efficient urban spaces. As cities are transforming into smart cities, there is heightened emphasis on incorporating electric mobility into urban design, including the creation of EV-friendly public transport systems and infrastructure. For example, as per the Smart City Index Report presented by IMD Business School, a Switzerland-based business school, in April 2023, there was a 16.3% increase in the number of smart cities, from 118 cities in 2021 to 141 in 2023. Consequently, the escalating smart city initiatives are fueling the expansion of the electric mobility network market.
What Are The Core Segments Of The Global Electric Mobility Networks Market?
The electric mobility networksmarket covered in this report is segmented –
1) By Charging Infrastructure: Public Charging Stations, Private Charging Stations, Workplace Charging Stations
2) By Software And Services: Payment Processing, Energy Management, Charging Station Maintenance And Monitoring
3) By End-User: Commercial, Residential, Industrial
Subsegments:
1) By Public Charging Stations: Fast Charging Stations, Level 2 Charging Stations, DC Fast Chargers, Charging Hubs, Solar-Powered Charging Stations
2) By Private Charging Stations: Home Charging Stations, Residential Complex Charging Stations, Fleet Charging Stations, Dedicated Private Charging Units
3) By Workplace Charging Stations: Employee Charging Stations, Visitor Charging Stations, Commercial Parking Charging Stations, Multi-Family Residential Charging Stations
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Which Emerging Market Trends Are Altering The Electric Mobility Networks Industry?
Significant strides are being made in the field of electric mobility networks market by leading corporations, particularly in terms of charging infrastructure improvements and the introduction of battery swap stations. These stations are specifically designed to reduce downtime, allowing for quick and efficient replacements of drained batteries with fully charged ones. They offer a solution to the time-consuming process of recharging electric vehicles (EV) batteries. For example, Nio Inc., an automotive firm based in China that focuses on the creation and development of electric vehicles, revealed Power Swap Station 4.0 in June 2024. This launch marked a major enhancement to its battery swapping technology, with the facility capable of performing automated battery swaps for multiple car makes and models. Equipped with six ultrawide-FOV LiDARs and four Orin X chips, these stations boast considerable computing power of 1,016 TOPS. Users can undertake an automated battery changing process with a single click or from a remote location, achieving the swap in just 144 seconds - a 22% improvement in speed compared to the prior generation. Also, NIO has added a highly efficient 640kW Liquid-Cooled Power Charger to its offering. It delivers a maximum current of 765A and voltage of 1,000V, and comes with an easily manageable 2.4kg charging cable for effortless one-handed operation.
Who Are the Key Players In The Electric Mobility Networks Market?
Major companies operating in the electric mobility networks market are:
• E.ON SE
• ENGIE SA
• Tesla Inc.
• Siemens AG
• BYD Company Ltd.
• Schneider Electric SE
• ABB Ltd.
• DiDi Global Inc.
• NIO Inc.
• Lyft Inc.
• Enel X S.p.A.
• Rivian Automotive Inc.
• Segway-Ninebot Group
• Arrival Ltd.
• Lucid Group Inc.
• Ola Electric Mobility Pvt. Ltd.
• Canoo Inc.
• Proterra Inc.
• Fisker Inc.
• Bird Global Inc.
• ChargePoint Inc.
• The Mobility House GmbH
• Zipcar Inc.
• EVBox Group
• Faraday Future Intelligent Electric Inc.
• Blink Charging Co.
• Neutron Holdings Inc.
• Aptera Motors Corp.
• Citymapper Limited
What Are The Regional Insights Into The Electric Mobility Networks Market?
Asia-Pacific was the largest region in the electric mobility networks market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the electric mobility networks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
