Market Insights

As per recent research by MarkNtel Advisors, The Global Electric Vehicle Charging Infrastructure Market size is valued at USD 20.22 billion in 2023 & is estimated to grow at a CAGR of around 18.12% during the forecast period, i.e., 2024-30.

Global Electric Vehicle Charging Infrastructure Market Driver:

Increasing Sales of Electric Vehicles to Support Market Growth – Countries like China, The US, and Germany are recording an increase in the sales of EVs. Based on the study conducted by the IEA, the sales of electric vehicles reached almost 14 million units in 2023 and the European countries, the US, and China accounted for almost 95% of the total EV sales. This burgeoning demand for electric automobiles is resulting in a higher demand for the proper charging infrastructure. As a result, companies are increasingly building EV charging stations in these regions.

Additionally, consumers in several regions are refraining from opting the EVs due to their limited range of issues. According to an online report by the leading car company, almost 40% of consumer’s worldwide experience range anxiety. Therefore, to eradicate these issues and boost electric vehicle sales, companies are increasingly building the largest EV stations, amplifying the Electric Vehicle Charging market.

Furthermore, as advanced technology is penetrating and propelling EV sales, technologically advanced charging infrastructures are also gaining traction. EV charging companies are integrating emerging technologies to provide consumers with options to discover local charging stations and receive real-time information on vacant slots. This convenience of schedule provided by the advanced EV charging stations would scale up the EV charging industry and drive the Global EV Charging Infrastructure Market.

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Market Segmentation and Consumer Behavior:

By Charger Type

• Wall Mounted- Market Size & Forecast 2019-2030, (USD Million)

• Pedestal Mounted- Market Size & Forecast 2019-2030, (USD Million)

• Roof Mounted- Market Size & Forecast 2019-2030, (USD Million)

By Vehicle Type

• Passenger Cars- Market Size & Forecast 2019-2030, (USD Million)

• Light Commercial Vehicles- Market Size & Forecast 2019-2030, (USD Million)

• Medium & Heavy Commercial Vehicles- Market Size & Forecast 2019-2030, (USD Million)

By Location

• Residential- Market Size & Forecast 2019-2030, (USD Million)

• Commercial- Market Size & Forecast 2019-2030, (USD Million)

By Power Output

• Upto 50kW- Market Size & Forecast 2019-2030, (USD Million)

• 50.1kW-300kW- Market Size & Forecast 2019-2030, (USD Million)

• Above 300kW- Market Size & Forecast 2019-2030, (USD Million)

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Electric Vehicle Charging Infrastructure Market Geographical Analysis:

By Region:

• North America

• South America

• Europe

• The Middle East & Africa

• Asia-Pacific

Key Players and Competitive Strategies in the Electric Vehicle Charging Infrastructure Market

Several prominent players dominate the Electric Vehicle Charging Infrastructure Market, including:

• ABB

• BYD

• Eaton

• EVBOX

• EVgo

• General Electric

• Pod Point

• Schneider Electric

• Siemens

• Tesla

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Questions Addressed in this Study

1.What factors are driving the Electric Vehicle Charging Infrastructure Market growth?

2.How is the Electric Vehicle Charging Infrastructure Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Electric Vehicle Charging Infrastructure Market?

4.What is the current size of the Electric Vehicle Charging Infrastructure Market, and how is it projected to change in the future?

5.What is the future outlook for the Electric Vehicle Charging Infrastructure Market in terms of technological advancements and market expansion?

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