The Asia-Pacific Electric Vehicle Charging Stations Market is expected to grow at a CAGR of 30.8% by value from 2022 to reach $69.57 billion by 2029. By volume, this market is expected to grow at a CAGR of 40.8% from 2022 to reach 10.1 million units by 2029. Government initiatives to drive the adoption of EVs and associated infrastructure, the rising demand for EV fast-charging infrastructure, and increasing deployment of EVs by shared mobility operators are the key factors driving the growth of the Asia-Pacific electric vehicle charging stations market. The growing deployment of charging station by retail MNCs provide significant growth opportunities for players operating in this market.
Here are the top 10 companies operating in the Asia-Pacific Electric Vehicle Charging Stations Market
Hangzhou AoNeng Power Supply Equipment Co., Ltd.
Founded in 2000 and headquartered in Zhejiang, China, Hangzhou AoNeng Power Supply Equipment provides integrated power systems, EV charging stations, and energy system solutions. The company provides different solutions, such as smart communications, public transportation, business center, tourist line, and road network infrastructure. With its strong distribution network, the company has its presence across the U.S., India, and Hong Kong. Through its Engineering Systems segment, the company offers professional charge station installation services.
Wanbang Xingxing Charging Technology Co., Ltd.
Founded in 2014 and headquartered in Changzhou, China, Wanbang Xingxing Charging Technology (also known as Star Charge) provides manufacturing charging equipment for energy vehicles. It serves global clients with charging infrastructure, platforms, and data operations, with the aid of vehicle sales, private charging, public charging, financial insurance, and other businesses. The company provides a wide range of AC and DC series charging solutions to different industries. Some of its major partners include Audi (Germany), Jaguar (United Kingdom), Volkswagen (Germany), BMW (Germany), Vanke (China), BYD (China), and Chery (China).
Magenta Power Private Limited
Founded in 2017 and headquartered in Koparkhairne, India, Magenta Power is an integrated clean energy and electric mobility solutions provider. The company specializes in building solutions that enable clients to achieve sustainability goals. The company operates in the EV charging systems market through its division—ChargeGrid. ChargeGrid focus on delivering great user experiences in the EV ecosystem.
In recent years, Magenta Power Private Limited has adopted collaborations as key strategy to augment their market share. For instance, in 2019, Magenta Power collaborated with Mahindra Susten Pvt. Ltd. to develop technological solutions and rooftop solar power installations for clean energy adoption.
Founded in 1971 and headquartered in Taipei, Taiwan. Delta Electronics is a provider of power and thermal management solutions. The company’s business categories include Power Electronics, Automation, and Infrastructure. It has R&D facilities in China, Europe, Japan, Singapore, Thailand, and the U.S. The company operates in three reporting business segments, namely, Power Electronics Business, Automation Business, and Infrastructure Business.
The company operates in Mainland China, the U.S., Taiwan, Thailand, and other countries. Some of its subsidiaries are Delta Electronics (Japan) Inc., Delta Electronics Int’l (Singapore) Pte. Ltd., and Delta Electronics (Netherlands) B.V., among others. As of December 2020, the company had a headcount of 9,451 employees across the globe.
Founded in 2016 and headquartered in Noida, India, EV Motors India focuses on the environment and the energy industry in India and the Asia-Pacific region. The company develops an e-Mobility ecosystem. The company offers electric vehicle charging stations through PlugNgo, to develop a public charging network in India.
In recent years, EV Motors India Pvt., Ltd. has adopted partnership as key expansion strategy to augment its market share. For instance, in July 2020, EV Motors partnered with BSES Rajdhani/Yamuna Power Ltd. to set up electric vehicle charging stations.
XPeng, Inc.
Founded in 2015 and headquartered in Guangzhou, China, XPeng is an electric vehicle company that designs, develops, manufactures, and markets smart EVs. The company develops in-house full-stack autonomous driving technology, in-car intelligent operating systems, and core vehicle systems, including powertrain and electrification/electronic architecture. XPeng has a Smart EV Manufacturing Base in Zhaoqing, which contains five workshops covering, stamping, welding, painting, assembly, battery pack production, and a battery assembly line. XPeng working station is also equipped with advanced MES manufacturing execution systems, real-time production monitoring systems, dynamic testing tracks, and a transparent manufacturing cycle.
The company operates through two reportable segments— Vehicle Sales and Services & Others. As of December 2020, the company had a headcount of 5,084 employees worldwide.
Founded in 1945 and headquartered in Mumbai, India, Tata Power is the largest private power utility in India. In the EV charging stations market, the company offers a diverse range of charging standards and specifications. It provides charging options for different EV categories, makes, and models. The company provides a variety of use-case scenarios- EV fleet solutions, commercial spaces & office charging, and public charging. To date, Tata has provided charging infrastructure solutions in around 40 cities, including Mumbai, Delhi, Bangalore, Hyderabad, Pune, Chennai, Ahmedabad, Chandigarh, Lucknow, Kolkata, and Vishakhapatnam.
The company operates through four reportable segments— Generation, Renewables, Transmission and Distribution, and Others. Some of its subsidiaries are Coastal Gujarat Power Limited (India), NDPL Infra Limited (India), Tata Power Renewable Energy Limited (India), and Tata Power Delhi Distribution Limited (India). As of March 2021, the company had a headcount of 2,673 employees.
