Southeast Asia Electric Vehicle Charging Equipment Market

Southeast Asia Electric Vehicle Charging Equipment Market Analysis

The Southeast Asia Electric Vehicle Charging Equipment Market size is estimated at 14.33 thousand units in 2025, and is expected to reach 43.05 thousand units by 2030, at a CAGR of 24.61% during the forecast period (2025-2030).

• Over the medium term, factors such as the growing adoption of electric vehicles and the efforts to boost EV charging infrastructure supported by government initiatives are expected to drive the electric vehicle charging equipment market during the forecast period.
• On the other hand, high installation costs associated with setting up charging stations and maintenance costs are expected to hinder the electric vehicle charging equipment market's growth during the forecast period.
• Nevertheless, the expanding commercial infrastrucutres and a need for a fast charging solutions are likely to hold vast opportunities for the Southeast Asia electric vehicle charging equipment market during the forecast period.
• Thailand is expected to witness significant growth in the Southeast Asia electric vehicle charging equipment market during the forecast period. Owing to the increasing number of public charging points in the region.

Southeast Asia Electric Vehicle Charging Equipment Market Trends

Public Charging Segment to Dominate the market

• Several factors are driving significant growth in the public charging segment during the forecast period. For instance, as environmental concerns and government incentives promote clean transportation, the adoption of EVs in the region is rising. This surge is leading to a notable deployment of public charging infrastructure and related equipment. Additionally, technological advancements in charging technology, especially fast-charging capabilities, are progressing in Southeast Asia, further bolstering the expansion of public charging infrastructure.
• Countries like Thailand, Indonesia, Singapore, Malaysia, and the Philippines are witnessing rapid growth in public charging, thanks to the rising popularity of electric vehicles (EVs) and government initiatives to accelerate their use. For instance, the Philippines aims for EVs to constitute 21% of its total vehicles by 2030, focusing on public transportation, and 50% by 2040. The Electric Vehicle Association of the Philippines (EVAP) has also revised its growth target for e-vehicle adoption from 300,000 units by 2030 to 1.0 million units, anticipating sector incentives, clearer regulations, and increased awareness of EV benefits.
• Indonesia has set an ambitious goal: 20% of all car sales to be EVs by 2025, with a target of 600,000 domestically produced EVs by 2030. These targets translate into milestones across the EV supply chain, including sales, production, and charging stations, accelerating the growth of public EV charging and related equipment.
• In early 2024, Thailand's EV Board approved the second phase of the EV Package, dubbed EV 3.5, spanning four years (2024-2027). This initiative aims to bolster the EV industry's progress and attract investments in EV manufacturing, especially for new players. The package encompasses subsidies for electric cars, pickup trucks, and motorcycles, tailored to vehicle types and battery capacities, fostering a favorable environment for public EV charging.
• Since 2017, Thailand's consistent EV promotion has drawn USD 1.8 billion in investments across the EV ecosystem, including manufacturing battery electric vehicles (BEVs), motorcycles, parts, and charging stations. As of December 2023, Thailand boasted 9,694 EV charging units on its roads and highways, divided between normal (AC) and fast (DC) chargers. Normal chargers numbered 5,161, while fast chargers surged from under 1,000 in 2021 to over 4,500 in 2023, indicating a trend likely to continue.
• In 2023, the Department of Energy (DOE) set a target of 6.3 million electric vehicles (EVs) by 2040, aiming for 50% of the country's vehicles. This ambition is supported by plans for 147,000 EV charging points. By 2028, the DOE's short-term goal includes deploying 2.45 million EVs and installing 65,000 new charging stations. Further, by 2034, an additional 1.85 million EVs and 42,000 new charging stations are planned.
• In May 2023, CHARGE+, a leading integrated EV charging solution provider for Southeast Asia, unveiled plans for a 5,000km EV charging highway spanning five Southeast Asian countries. The Charge+ App will grant EV drivers access to 45 DC fast charging locations across Singapore, Malaysia, Thailand, Cambodia, and Vietnam.
• According to the company, all stations will feature DC fast charging for quick turnaround times. This highway is set to be the longest in Southeast Asia and among the longest globally, with stations averaging 120 km apart, either directly on the highway or within 2 km of interchanges.
• At the end of 2022, Shell, in collaboration with Porsche Asia Pacific, inaugurated the first Shell-Recharge High-Performance Charging (HPC) site in Bangyai, Nonthaburi. This marks the beginning of a network of eleven Shell stations across Thailand. Each station, equipped with ABB's 180 kW and 360 kW DC chargers, promises the fastest public charging capacity in the country, facilitating emission-free travel from Songkhla in the south to Chiang Mai in the north.
• Given these developments, the public charging segment in Southeast Asia is set for significant growth, bolstered by expanding infrastructure, government initiatives to boost EV adoption, and shifting consumer preferences towards sustainable transportation.

Thailand to Witness a Significant Growth

• Historically, Thailand has been a significant player in Southeast Asia's automobile sector, evolving from merely assembling auto components to becoming a prominent hub for automotive production and exports. Recently, bolstered by increased investments from automakers, Thailand's electric mobility industry is poised for rapid growth. This surge in electric vehicle (EV) production is not only promising for the country's EV market but also for its EV charging infrastructure.
• Data from the Electric Vehicle Association of Thailand (EVAT) highlights the momentum: newly registered battery electric vehicles (BEVs) in Thailand soared to approximately 100,219 units in 2023, marking an astounding 380% jump from 2022. Continuing this trend, by February 2024, registrations reached about 22,278 units. This swift uptake of EVs is paralleled by a burgeoning demand for EV charging infrastructure and associated equipment.
• Government incentives for EV buyers and supportive measures for manufacturers have been pivotal in driving this adoption. For instance, Thailand's latest purchase subsidy scheme for domestically produced EVs underscores its ambition to be a Southeast Asian EV production hub. The EV3.5 scheme, running from 2024 to 2027, offers subsidies between THB 50,000 (USD 1,397.02) and THB 100,000 (USD 2,794.04) per vehicle. Such initiatives not only highlight the government's dedication to the EV sector but also align with its 2030 vision: making EVs 30% of all vehicle sales. These efforts position Thailand as a dominant player in the Southeast Asian EV charging equipment market.
• Significant strides have been made in bolstering the country's EV charging infrastructure. For instance, in early 2023, PTT Oil and Retail Business, Thailand’s state-run oil entity, unveiled ambitious plans for the nation's largest EV charging network, targeting 7,000 outlets by 2030, a leap from approximately 140 in 2022. This move aligns with PTT's broader strategy to diversify into alternative energies, including EVs. With 2,500 petrol stations as a foundation, PTT is well-poised for this expansion.
• In April 2024, a collaboration between the Electricity Generating Authority of Thailand (EGAT) and the Thai Department of Energy Business, formalized through a Memorandum of Understanding (MOU), set the stage for a comprehensive electric charging station project in Thailand’s Eastern Economic Corridor (EEC). Their joint efforts aim to establish a prototype EV charging station, dubbed EleX by EGAT Eco Charging Sphere, in Sriracha, Chon Buri, with full operational status anticipated by 2025.
• In July 2023, EVLOMO, a prominent public charging network in Thailand, forged a strategic alliance with Schneider, a global leader in energy management. This collaboration is set to bolster Thailand’s EV charging landscape with Schneider’s advanced charging solutions, including the cutting-edge EVlink fast chargers. The initiative aims to roll out 100 strategically placed fast chargers in the first year, ensuring widespread access for EV owners. Furthermore, discussions are underway for a battery pack plant in Thailand, a move poised to localize battery production and enrich the nation's EV ecosystem.
• Given the swift adoption of EVs and advancements in charging infrastructure, Thailand is on track for significant growth in the EV charging equipment market, solidifying its position in the Southeast Asian landscape.

Southeast Asia Electric Vehicle Charging Equipment Industry Overview

The Southeast Asia electric vehicle charging equipment market is semi-fragmented. Some of the key players in the market (not in any particular order) include ABB Ltd, Schneider Electric SE, Delta Electronics Inc., CHARGE+ Pte. Ltd., Tesla Inc., among others.

Southeast Asia Electric Vehicle Charging Equipment Market Leaders

Southeast Asia Electric Vehicle Charging Equipment Market News

• January 2024: Exicom, an Indian manufacturer of EV chargers, has inked a distribution deal with Thailand's INNOPOWER Company Limited, an energy innovations firm. This collaboration is poised to influence Thailand's electric vehicle (EV) landscape, with Innopower taking charge of distributing Exicom's AC/DC chargers. Furthermore, this strategic alliance bolsters Exicom's presence in Southeast Asia by setting up a local sales and distribution framework. By entering Thailand, Exicom takes a pivotal stride in advocating for efficient EV charging solutions and bolstering the nation's supporting infrastructure.
• July 2023: EV Connection Sdn Bhd (EVC), Malaysia's foremost provider of EV charging infrastructure, has inked a tripartite agreement. This agreement facilitates cross-tracking and cross-access charging for electric vehicles (EVs) across its JomCharge network, as well as the Gentari and chargEV networks. As a result of this collaboration, EV users now have access to a consolidated network of 550 charging points throughout Malaysia, representing over two-thirds of the nation's total EV charging infrastructure.