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EV Charging Infrastructure Market worth over $61bn by 2027

  • Published Date: June 7, 2021

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

Market growth is attributed to the 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 projected 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.
 

Growing demand for public charging stations owing to increasing count of electric vehicles will complement the market expansion

UAE EV Charging Infrastructure Market Value By Charging site

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Increasing adoption of electric powered vehicles driven by escalating duties on carbon-intensive fuels is poised to impel the public 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 accelerate the industry growth. 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 Size By Current (AC {Level 1, Level 2}, DC {DC Fast}), By Charging Site (Public, Private), Industry Analysis Report, Regional Outlook, Covid-19 Impact Analysis, Price Trends, Growth Potential, Competitive Market Share & Forecast, 2021 – 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 predicted to boost the acceptance of EV charging stations

Japan market accounted for 2.5% of revenue share in 2020. 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 due to reduced emissions and smooth and quiet transit will further augment the business scenario. Moreover, escalating fuel prices coupled with introduction of strict GHG emissions norms will provide substantial impetus to the EV industry.
 

Prominent manufacturing companies functioning across the 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.
 

Upsurge in R&D investments along with formation of technological partnership by eminent players will foster the market potential. Furthermore, manufacturers are focusing on implementing strategies including expansions, capacity mergers, acquisitions and collaborations with an aim of maintaining their competitive advantage.
 

Authors: Ankit Gupta, Asmita Semwal