Electric Vehicle (EV) Charging Station Market 2022-2028

1. Electric Vehicle (EV) Charging Station Market- Global Industry Size, Share, Trend Analysis and Forecast Report, 2022-2028

2. Global Electric Vehicle (EV) Charging Station Market- Industry Trends & Forecast Report 2027A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the global electric vehicle (EV) charging station market is projected to witness a CAGR of over 40% during 2022 - 2028. The demand for the global electric vehicle (EV) charging station market is expected to grow at a significant rate, during the forecast period. Increasing initiatives by the government to accelerate the growth of electric vehicle and electric vehicle charging stations along with growing fuel prices is pushing the consumers to switch towards better and energy-efficient alternatives such as electric vehicles is anticipated to propel the demand for EV charging stations in the forecast period. Furthermore, initiatives like Net Zero and expanding the production capacity of electric vehicles are estimated to present lucrative growth opportunities to the market in the forecast period.

3. Growth Drivers  Rise In Demand For Electric Vehicle The electric vehicle market has recorded the whooping sales of 2.1 million electric car sales in 2019 and the number of light-duty plug-in vehicles surged to more than 10 million units by the end of 2020. The increasing demand for electric vehicles is anticipated to present lucrative growth opportunities to the global electric vehicle (EV) charging station market. The rising fuel prices are one of the major factors prompting consumers to switch to electric vehicles, even for longer journeys, which will increase the demand for electric vehicle (EV) charging stations in the forecast period.

4. Restraints  Lack Of Government Interest And Investment Towards EV Charging Station In Middle And Low Income Countries Except for certain leading countries, not many regions are focusing on promoting sustainability or the use of electric vehicles for environmental purposes. The reason behind this inattentiveness ranges from financial incapability, lack of human and material resources, or simply the lack of interest, but this acts as a major restraining factor for the growth of the global electric vehicle (EV) charging station market. This limits the investment and establishment of charging stations in the region, hindering its growth.

5. Impact of COVID-19 The sudden outbreak of the COVID-19 pandemic significantly halted the growth of the global electric vehicle (EV) charging station market. The manufacturing operations of electric vehicles as well as the supply chains were completely obstructed, due to the restrictions on import and export due to lockdown. The governments of various countries also imposed strict restrictions on mobility. In addition, with increasing COVID-19 cases, the government shifted its attention to developing and supporting the healthcare infrastructure. This resulted in a slowdown in the electric vehicle (EV) charging stations, negatively impacting its market growth.

6. Competitive Landscape The leading market players of the global electric vehicle (EV) charging station market are ABB, The State Grid Corporation of China, ChargePoint Inc., Star Charge, Schneider Electric SE, Qingdao TGOOD Electric Co. Ltd, Siemens AG, BP Pulse, Tesla Motors Inc., EV Solutions, Evbox, Evgo, Leviton Manufacturing Co. Inc., Efacec, SemaConnect Inc., The Newmotion BV, Hangzhou Aoneng Power Supply Equipment Co., Ltd., Royal Dutch Shell PLC, Électricité de France, and other prominent players. Sample Copy: https://www.blueweaveconsulting.com/report/electric-vehicle-charging-station-market/report-sample

7. Regional Insights Geographically, the global electric vehicle (EV) charging station market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. Europe dominates the global electric vehicle (EV) charging station market. The increasing demand for electric vehicles and growing public and private investment towards establishing charging stations across countries in these regions is significantly propelling the growth of electric vehicle (EV) charging stations. Furthermore, the presence of leading industry players such as Royal Dutch Shell PLC, Électricité de France, etc., also plays a crucial role in driving the market growth.

8. Key Players ABB, The State Grid Corporation of China, ChargePoint Inc., Star Charge, Schneider Electric SE, Qingdao Tgood Electric Co. Ltd, Siemens AG, BP Pulse, Tesla Motors Inc., EV Solutions, Evbox, Evgo, Leviton Manufacturing Co. Inc., Efacec, SemaConnect Inc., The Newmotion BV, Hangzhou Aoneng Power Supply Equipment Co., Ltd., Royal Dutch Shell PLC, Électricité de France, and other prominent players.

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