Exploring the Rapid Growth of Global Electric Vehicle (EV) Charging Market, Outlines a New Report by Next Move Strategy Consulting

Electric Vehicle (EV) Charging Market to Reach USD 128.13 billion by 2030 with 28.2% CAGR | Next Move Strategy Consulting

New york, Feb. 02, 2023 (GLOBE NEWSWIRE) -- According to a report published by Next Move Strategy Consulting, the global Electric Vehicle (EV) Charging Market size generated USD 14.49 billion in 2021, and is projected to generate USD 128.13 billion by 2030, witnessing a CAGR of 28.2% from 2022 to 2030. The research offers a detailed analysis regarding drivers, restraints, and opportunities to highlight changing market dynamics of the market. Moreover, the research provides an extensive analysis of major segments and their sub-segments to determine fastest-growing and highest revenue-generating segments.

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Equipping the extensive analysis of each and every aspect of the market in 1042 pages, accompanied by 868 tables and 838 figures, the report aims to become a source of guidance for market players, investors, and startups as they device strategies for next few years to achieve sustainable growth. Moreover, the research outlines the COVID-19 analysis to highlight impact on the global EV charging market share.

Report CoverageDetails
Forecast Period 2022–2030
Base Year 2021
Market Size in 2021USD 14.49 Billion
Market Size in 2030USD 128.13 Billion
No. of Pages1042
Segments coveredCharging Type, Charging Voltage Level, Charging Point Type, Charger Type, Application, Charging Infrastructure Type, Installation Type, IoT Connectivity, and Region
DriversIncrease in demand for fuel-efficient and low-emission vehicles
Rise in government initiatives and financial aid to hasten the installation of EV charging infrastructure
OpportunitiesSmart infrastructure and IoT in EV charging stations to manage load

The report offers a comprehensive analysis of the EV changing market dynamics based on drivers, restraining factors, and opportunities. Technological advancements in EV charging infrastructure facilities such as wireless charging provided by various manufacturers drive growth of the global EV charging market. However, high initial cost of fast chargers, along with different charging standards in different regions restrains the industry growth.

Lead Analyst for Automotive & Transportation at Next Move Strategy Consulting, stated “introduction of vehicle-to-grid (V2G) EV charging stations to exchange electrical energy in both directions in EVs while charging is expected to create new opportunities for the market in the coming years.”

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Asia-Pacific accounted for the highest share in 2021 and is expected to dominate throughout the forecast period. This is attributed to factors such as various government initiatives to drive adoption of EVs and associated infrastructure and growth in demand for EV fast-charging infrastructure. On the other hand, Europe is estimated to grow steadily during the forecast period, owing to latest innovations such as CCS adapters in EV charging by prominent world leaders to accelerate current infrastructure.

The research offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate presence in the EV charging industry. This analysis is also helpful in determining highest-revenue generating and fastest-growing segments and taking the next steps accordingly.

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The report offers an extensive analysis of competitive landscape of the global EV charging market. Some of the major market players in the manufacturing of EV chargers are ABB, ChargePoint, Tesla Inc, Shell Recharge Solutions, Star Charge, TELD, Siemens, BYD, EVgo, and Hyundai Motor Company.

Also, Browse Related Reports:

Wireless Charging Market by Technology (Inductive, Resonant, Radio Frequency, and Others) and Industry Vertical (Electronics, Automotive, Industrial, Healthcare, and Aerospace & Defense)- Global Opportunity Analysis and Industry Forecast 2022-2030

Automotive Pay-As-You-Go (PAYG) Road Charging Market by System Type (Automated Vehicle Identification and Automated Vehicle Classification), by Type (Electronic Toll Collection and All-Electronic Toll Collection), by Infrastructure (Urban and Highway), and by Technology (Dedicated Short Range Communication, Radio Frequency Identification, Video Analytics, and Global Positioning System) - Global Opportunity Analysis and Industry Forecast, 2022– 2030

Electric Vehicle Market by Type (Battery Electric Vehicles (BEV), Hybrid Electric Vehicles (HEV), and Plug-in Hybrid Electric Vehicles (PHEV)), Vehicle Class (Mid-Priced and Luxury), and Vehicle Type (Two-wheelers, Passenger Cars, and Commercial Vehicles): Global Opportunity Analysis and Industry Forecast, 2020–2030

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