EV Charging Infrastructure Market size to exceed $61bn by 2027

EV Charging Infrastructure Market size is projected to surpass USD 61 billion by 2027, as reported in the latest study by Global Market Insights, Inc.
 

EV Charging Infrastructure industry is anticipated to witness a significant growth on account of surging demand for energy efficient, low carbon, and electric powered vehicles. Growing collaboration between electric vehicle manufacturers comprising BMW Group and Nissan with an aim to capture the budding market is set to augment the product installation. Stringent government mandates to boost environment sustainability along with favorable initiatives to reduce the cost at customer facility to counter escalating energy prices will stimulate the industry outlook.

 

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Surging demand for public charging stations owing to growing count of electric vehicles will complement the industry landscape

Increasing adoption of electric powered vehicles driven by escalating duties on carbon-intensive fuels is set to stimulate the public EV charging infrastructure market trends. Favorable state and federal initiatives comprising provision of purchase incentives to assist in reducing the installation cost of EV charging stations will further drive the industry statistics. Additionally, availability of tax credits, rebates and grants provided by government and utilities thereby offering cost-parity with gas powered vehicles will support the shift toward zero emissions mobility.
 

Browse key industry insights spread across 445 pages with 859 market data tables & 48 figures & charts from the report, “EV Charging Infrastructure Market Forecasts By Current (AC {Level 1, Level 2}, DC {DC Fast}), Charging Site (Public, Private), Industry Analysis Report, Regional Outlook, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2020 – 2027” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/ev-charging-infrastructure-market
 

Stringent environment protection laws in line with rising emphasis on deployment of sustainable units is set to boost the adoption of EV charging stations

Japan EV charging infrastructure market, in 2020, contributed to over 2.5% of the overall market share in Asia Pacific. Ongoing industrialization and technological environment prevalent across the country will continue to entail the deployment of these units. For instance, as per IEA’s global EV outlook 2020, Japan accounted for 3% of the publicly accessible fast chargers and 4% of the publicly accessible slow chargers across the globe. Surging dependency on electric cars and buses over diesel versions owing to reduced emissions and smooth and quiet transit will further drive the business scenario.
 

Upsurge in R&D investments along with formation of technological partnership by eminent industry players will augment the market potential. Moreover, manufacturers are focusing on implementing strategies including expansions, capacity mergers, acquisitions and collaborations with an aim of maintaining their competitive advantage. Prominent manufacturing companies functioning across the EV charging infrastructure market include Volkswagen, Greenway Infrastructure, E.ON, ABB, Nissan Motor, RWE, ChargePoint, EVBox, Siemens, Schneider Electric, Eaton, Shell, Exxon Mobil, Pacific Gas & Electric, EVgo, Volta, ev. energy, Tesla, Leviton, ACME, Blink and Delta Electronics amongst others.
 

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