23 Jul, 2026
According to Straits Research, the global peer-to-peer electric vehicle charging market size was valued at $194.94 million in 2025 and is projected to grow from $237.83 million in 2026 to $1,167.21 million by 2034, at a CAGR of 22% during the forecast period 2026–2034.
Peer-to-peer electric vehicle charging equipment comprises several components, including couplers, cords, conductors, power outlets, and other accessories, devices, and apparatus. Manufacturers of peer-to-peer electric vehicle charging equipment obtain these components from the relevant suppliers. Although manufacturers tend to strike supply agreements with suppliers to ensure a smooth and uninterrupted supply of components, they may also resort to spot contracts depending on the situation. AeroVironment, Inc.; ChargePoint, Inc.; ClipperCreek, Inc.; and Greenlots are some of the prominent peer-to-peer electric vehicle charging equipment manufacturers.
The market growth can be due to the rising number of residential charging stations and the increasing need to eliminate range concerns among electric vehicle drivers. Increasing awareness and adoption of electric vehicles globally are expected to create growth opportunities for the peer-to-peer electric vehicle charging market over the forecast period. Nowadays, autonomous electric car designs include a system that enables drivers to pair their vehicles for sharing a charge on the go. This is expected to create growth opportunities for peer-to-peer electric vehicle charging station providers over the forecast period.
Increasing Contribution of the transportation sector toward Carbon Emission Global Peer-To-Peer Electric Vehicle Charging Market
Numerous metropolitan areas have experienced smog and air quality problems, which have led to respiratory illnesses. These circumstances make it tough to survive in the current environment. In Europe, air pollution is responsible for the death of around 450,000 people every year. In 2016, the European Commission approved new rules (National Emissions Ceilings (NEC) Directive) for its member states to reduce air pollution levels. All these factors propel the need for an eco-friendly and low-residual mode of transportation, thus, promoting the adoption of electric vehicles and increasing the need for supportive peer-to-peer electric vehicle charging stations. According to the data published by the Global Carbon Project (GCP), China accounts for a significant share of the global CO2 emissions and is driven by an increase in coal, natural gas, and crude oil consumption, increased industrial production, and reduced hydroelectric energy generation. There has been a considerable reduction in the emission share of the US and Europe over the last seven years due to stringent regulatory policies and government initiatives. Hence, the reduction in consumption of fossil fuels and the increased adoption of electric vehicles are expected to reduce global CO2 emissions.
Government Regulation and Tax Exemptions to Drive the Global Peer-To-Peer Electric Vehicle Charging Market
Governments have started offering financial incentives, including subsidies and tax benefits, to encourage people to buy electric vehicles. Incentives are being offered either on a lump sum basis or the basis of the wattage of batteries powering the electric vehicles. These subsidies and tax incentives are expected to drive the sales of electric vehicles and, subsequently, the demand for peer-to-peer electric vehicle charging equipment.
In the US, insurers insure electric vehicles at discounted rates, and utilities charge lower tariffs for the electricity consumed by the peer-to-peer electric vehicle charging stations. In some states, subsidies are offered to reduce the upfront purchase costs of electric vehicles. In contrast, cheaper credit is being offered to manufacturers and buyers of electric vehicles and charging equipment. The federal Internal Revenue Service (IRS) offers a tax credit of up to USD 7,500 on purchasing new electric vehicles.
Several countries are running incentives-based programs to encourage the purchase of electric vehicles. For instance, bonus payments and insurance discounts are being offered to the buyers of electric vehicles in France and the UK, while goals to curtail the sales of ICE vehicles over the next decade are also being pursued in France, the U.K., India, and China.
Apart from subsidies and tax incentives, special care is also being exercised to avoid the misuse of these incentives and subsidies. For instance, in China, some cities exempt electric vehicles from license-plate lotteries and auctions. After a successful pilot program, the Chinese government introduced green license plates for New Energy Vehicles (NEVs) across the country. By 2017, the new license plates were introduced in all provincial capitals and selected major cities, while the remaining cities were expected to follow in H1/2018. Vehicle owners with green license plates will be eligible for preferential treatment in terms of national and local subsidies for electric vehicles. These subsidies are anticipated to help reduce consumers' concerns regarding the high upfront costs associated with electric vehicles. To reduce pollution and carbon emissions, France and the UK have announced to ban on the sales of fuel-based vehicles by 2040. Similar initiatives in China and India are also expected to drive the adoption of electric vehicles and, subsequently, the demand for peer-to-peer electric vehicle charging infrastructure.
By region, the global peer-to-peer electric vehicle charging market is segmented into North America, Europe, Asia Pacific, and RoW.
North America accounted for the largest market share and is estimated to grow at a CAGR of 22.8% during the forecast period. A large number of players in North America is one of the major factors driving the regional market. For instance, in July 2017, Innogy established e-mobility US LLC, a subsidiary that provided EVEV charging equipment in North America.
The Asia Pacific is the second largest region. It is estimated to reach an expected value of USD 220 million by 2030, registering a CAGR of 23.4%. Efforts are being made to increase electric vehicle sales, offering market expansion prospects. China's government agencies offer incentives to encourage the purchase of electric vehicles. In 2020, the Chinese city of Guangzhou offered a subsidy of USD 1,552.94 for vehicles sold between March and the end of December. Concurrently, the state-level incentive for new energy vehicles was extended to 2022. Increasing government initiatives to promote the sale of electric vehicles in the country are anticipated to provide growth prospects in the coming years.
Europe is the third largest region. An increasing number of companies in the market are investing in strategies such as collaboration, driving market growth in Europe. For instance, in November 2020, NewMotion, a European smart charging solutions provider, announced its partnership with the U.K.-based charger point operator Osprey Charging (formerly known as Engine). Through the partnership, 259 DC 50kWh rapid connections were added to NewMotion's public charging network.
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