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Global EV Charging Infrastructure Market to grow

By Swati Deshpande,

Added 23 August 2019

Expected to reach $72.5 billion by 2025

growth

According to a new report Global Electric Vehicle Charging Infrastructure Market, published by KBV research, The Global Electric Vehicle Charging Infrastructure Market size is expected to reach $72.5 billion by 2025, rising at a market growth of 38.5% CAGR during the forecast period. Improvements in EV techniques are helping to have a wide range of EV models on the market. Charging infrastructure has advanced with an increase in the number of EVs to construct a sustainable in-country transport facility. EV consumers need infrastructure services that enable ordinary and rapid charging, and access to public and private, own house, or apartment buildings needs to be facilitated. It is important to place a well-organized charging facility for a long-distance trip.

The Asia Pacific market dominated the Global Electric Vehicle Charging Infrastructure Fast Charger Market by Region 2018, growing at a CAGR of 48.6 % during the forecast period. The North America market is expected to witness a CAGR of 46.5% during (2019 - 2025). Additionally, The Europe market is expected to witness a CAGR of 46.3% during (2019 - 2025). In developed countries, charging stations for electric vehicles may not require much new infrastructure, less than providing a new alternative fuel over a new network. The stations can leverage the current widespread electrical grid and home recharging, which is an alternative to public recharging stations as mostly driving is local over short distances, which further decreases the need for mid-trip charging.

The CHAdeMO market would grow at a CAGR of 39.7 % during the forecast period. The Combined Charging System (CCS) market is expected to witness a CAGR of 42.6% during (2019 - 2025). The Others market is expected to witness a CAGR of 36.5% during (2019 - 2025). Major automotive companies are investing strongly in the growth of EV charging stations and new techniques such as lithium-ion batteries, ultra-fast DC charging networks, independent park-and-charge and wireless charging to increase EV revenues.

The Commercial market would grow at a CAGR of 46.8 % during the forecast period. The Residential market is expected to witness a CAGR of 28.5% during (2019 - 2025).

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