Residential EV Charging Station Market Trends, Disruptors & Competitive Strategy

Residential EV Charging Station Market Benchmarking, Consumer Insights & Growth Strategies

The residential EV charging station market is expected to increase from USD 13.68 billion in 2025 to USD 219.7 billion by 2034, growing at a CAGR of 36.14% throughout the forecast period from 2025 to 2034.

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Introduction

The residential EV charging station market is a crucial sector of the electric vehicle industry. This industry deals in manufacturing and distribution of EV chargers for residential purposes. These chargers are designed for numerous vehicles consisting of passenger cars and commercial vehicles. It is available in different power output comprising of above 50 kw, less than 11 kw, 11 kw-50 kw and some others. The growing sales of EVs around the world has boosted the market growth. This market is likely to experience significant growth with the rise in the automotive industry around the globe.

• According to the International Energy Agency, around 1.4 million PHEVs were sold in 2020 that increased to 4.5 million units in 2023.

Highlights of the Residential EV Charging Station Market

• Europe held the dominant share of the residential EV charging station market due to the rapid adoption of EVs in this region.
• Asia Pacific is expected to grow with the highest CAGR due to the growing sales of mid-sized electric vehicles in this region.
• The passenger cars segment dominated the market due to the increasing demand for SUVs across the world.
• The less than 11 kW segment led the market due to its accessibility and cost-effectiveness.

Residential EV Charging Station: Trends, Figures and Stats

• The EV charging brands have started investing heavily for development of bidirectional EV chargers to gain utmost consumer attraction. For instance, in June 2023, Wallbox launched Quasar 2. Quasar 2 is a bidirectional charger designed for residential purposes across Europe.
• Several EV charging companies are developing fast chargers to charge electric vehicles in less times in residential setups. For instance, in September 2024, Ledvance launched PHASE EV 48 Amp residential charger. This charger provides fast-charging capabilities that helps in charging electric vehicles to provide 42 miles of range per hour of charge.
• Numerous companies are partnering with each other to develop EV chargers for residential purposes. For instance, in December 2024, WEX partnered with Qmerit. This partnership is done for streamlining EV charging solutions for residential consumers.
• According to the International Energy Agency, around 3.4 million EVs were sold in Europe during 2024.

Industry Leader Announcement

In September 2024, Erich Bockley, the product manager at LEDVANCE announced that,” The Residential PHASE EV is equipped with fast-charging capabilities, smart features, and a robust design making it the perfect solution for homeowners looking to power their electric vehicles quickly and efficiently while seamlessly integrating with their smart home systems.''

Regional Insights

Europe held the dominant share of the market. This market is generally driven by the rising disposable income of the people in this region. Also, the rise in government initiatives aimed at strengthening the EV charging infrastructure along with technological advancements in EV charging systems has further contributed to the industrial expansion.

In Europe, Germany, UK and France are the major contributors of this industry. In these countries, the rapid adoption of EVs coupled with presence of numerous EV charger manufacturing companies has boosted the market growth in these countries.

Competitive Landscape

The residential EV charging station market is a highly competitive industry with the presence of various dominant players. Some of the prominent companies of this industry comprises of Compleo Charging Solutions GmbH & Co. KG, Schneider Electric, Leviton, ABB, Siemens, Eaton Corporation plc, Wallbox, Tesla, ChargePoint, Inc. and some others. These market players are constantly engaged in developing high-quality EV chargers for residential purposes and adopting several strategies such as product launches and partnerships to sustain their dominant position in this industry.

Market Segmentations

By Vehicle Type

• Passenger Cars
• Commercial Vehicles

By Charging Station Type

• Above 50 KW
• Less than 11 KW
• 11 KW-50 KW

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa