The electric vehicle charging stations market is expected to grow from USD 3.22 Billion in 2017 to reach USD 30.41 Billion by 2023, at a CAGR of 41.8% between 2018 and 2023. The base year considered for the study is 2017, and the forecast period is between 2018 and 2023.
There has been a highly favorable ecosystem for a sustainable growth of the electric vehicle charging stations market. Many countries are taking various initiatives to encourage the use of electric vehicle (EVs) to curb the growing concerns related to environmental pollution and global warming. The initiatives are acting as a positive growth driver for the market. For instance, in November 2016, the US administration announced that it will develop 48 national EV charging networks for highways to cover an overall distance of approx. 25,000 miles across 35 states of the country. This initiative has led 28 states, utilities, EV charging firms, and major EV manufacturing companies, including General Motors, BMW, and Nissan, to work together. Furthermore, in May 2016, the German government launched an attractive incentive program for EV buyers. As per the new scheme, EV buyers will receive a direct discount of USD 4,520. Such incentive schemes and the government’s decision to discontinue fossil fuel vehicles by 2030 are expected to drive the growth of the electric vehicle charging stations market.
The objective of the report is to provide a detailed analysis of the electric vehicle charging stations market based on charging station, installation type, and region. The report provides detailed information regarding the major factors influencing the growth of the market. The report also gives a detailed overview of the market value chain and analyzes market trends. Furthermore, the report also provides a detailed analysis of the electric vehicle market based on vehicle type and region.
The electric vehicle charging station ecosystem comprises EV charging station manufacturers, software providers, and distributors. The players involved in the manufacturing of electric vehicle charging stations include ABB (Switzerland), AeroVironment (US), ChargePoint (US), Engie (France), Tesla (US), Schneider Electric (France), Siemens (Germany), Efacec (Portugal), EVgo (US), Leviton (US), Alfen (Netherlands), Allego (Netherlands), Blink Charging (US), Clipper Creek (US), SemaConnect (US), and TGOOD (Hong Kong)
This research report categorizes the global electric vehicle charging stations market on the basis of vehicle type and region; and the electric vehicle charging stations market on the basis of charging station, installation type, and region.
