Electric Vehicle (EV) Charging Infrastructure Market Size Worth $6.4 billion in 2023 to Grow at 18.5% CAGR during 2023-2030 | GlobalData Plc

The global EV charging infrastructure market size is valued at $6.4 in 2023, according to a new report by GlobalData Plc. Growing demand for electric vehicles promoted by rising environmental awareness, government support, technological advancements, and decreasing battery costs are the major factors driving market growth. The expansion of EV charging infrastructure requires substantial investment. Governments, private companies, and stakeholders need to collaborate to ensure adequate funding for charging network expansion, especially in underserved regions.

EV charging infrastructure market outlook report with detailed regional analysis is available with GlobalData Now! Download a FREE sample.

EV Charging Infrastructure Market FAQs

• What was the global EV charging infrastructure market size in 2023?

The global EV charging infrastructure market size will be valued at $6.4 billion in 2023.

• What is the EV charging infrastructure market growth rate?

The global EV charging infrastructure market is expected to grow at a CAGR of 18.5% over the forecast period (2023-2030).

• What are the key EV charging infrastructure market drivers?

Growing demand for electric vehicles promoted by rising environmental awareness, government support, technological advancements, and decreasing battery costs are the major factors driving the market growth.

• Which are the leading EV charging infrastructure companies globally?

The leading EV charging infrastructure companies are ABB Ltd, AeroVironment Inc, BYD Co Ltd, ChargePoint Holdings Inc, Eaton Corporation Plc, General Electric Co, Schneider Electric SE, Shell plc, Siemens AG, and Tesla Inc.

For more queries on the EV charging infrastructure market, get a free sample report

EV Charging Infrastructure Market Dynamics

Advancements in EV charging technologies are instrumental in driving the growth of the charging infrastructure market. The evolution of faster charging solutions, such as DC fast charging, has significantly reduced charging times, making electric vehicles more convenient for daily use. Moreover, the development of smart charging systems, wireless charging technologies, and vehicle-to-grid (V2G) integration has enhanced the overall efficiency and flexibility of charging infrastructure, enabling seamless integration with the power grid, and maximizing the utilization of renewable energy sources.

While the growth of electric vehicle charging infrastructure has witnessed significant progress, several challenges need addressing for its widespread expansion. High initial infrastructure costs, range anxiety, grid capacity constraints, interoperability issues, regulatory hurdles, limited public funding, balancing charging speed and grid load, and future-proofing infrastructure are among the key challenges that must be overcome.

Learn about the EV charging infrastructure market dynamics by viewing report sample right here!

EV Charging Infrastructure Market Report Highlights

• The global EV charging infrastructure market is projected to witness a CAGR of 18.5% from 2023 to 2030. A combination of factors, including environmental concerns, government policies, technological advancements, consumer demand, collaborative efforts, urbanization, and corporate sustainability goals, are influencing the growth of the electric vehicle infrastructure market.
• The South & Central America market is anticipated to grow at a CAGR of over 30% during the forecast period. Partnerships and collaborations between public and private entities support the region’s growth. Utilities, energy companies, and charging infrastructure providers are partnering with governments and local organizations to install charging stations and expand the network coverage.
• DC chargers are poised for a healthy growth over the forecast period. This growth can be attributed to the growing demand for fast chargers that reduce time spent in charging EVs lowering a major obstacle in electric vehicle adoption.
• Companies operating in the EV charging infrastructure space are investing heavily in research & development to decrease the costs associated with EV chargers in order to improve penetration in emerging economies.
• The leading EV charging infrastructure companies are ABB Ltd, AeroVironment Inc, BYD Co Ltd, ChargePoint Holdings Inc, Eaton Corporation Plc, General Electric Co, Schneider Electric SE, Shell plc, Siemens AG, and Tesla Inc.

Unlock additional market dynamics impacting the EV charging infrastructure market growth by requesting a sample PDF.

EV Charging Infrastructure Market Scope

GlobalData Plc has segmented the EV charging infrastructure market report by power, level, and region:

Global EV Charging Infrastructure Power Outlook (Revenue, $ Million; Volume, Units 2020-2030) 

• Less than 1.8 kW
• 9 kW to 7.8 kW
• 9 kW to 25 kW
• 26 kW to 100 kW
• More than 100 kW

Global EV Charging Infrastructure Level Outlook (Revenue, $ Million; Volume, Units 2020-2030) 

• Level 1 Chargers
• Level 2 Chargers
• DC Chargers

Global EV Charging Infrastructure Regional Outlook (Revenue, $ Million; Volume, Units 2020-2030) 

• North America
• The US
• Canada
• Europe
• France
• Germany
• Italy
• The Netherlands
• Norway
• Sweden
• The UK
• Rest of Europe
• Asia-Pacific
• China
• India
• Korea
• Rest of Asia Pacific
• South & Central America
• Brazil
• Chile
• Mexico
• Middle East & Africa
• South Africa
• Turkey

Know more segment-wise insights and grab a free sample free sample report

Related Reports

• Electric Vehicles (EV) Market Analysis by Region, Propulsion Type (BEV, FHEV, MHEV, PHEV, EREV, FCEV), End-user Type (Personal, Commercial) and Forecast to 2030
• Metals in Electric Vehicles (EVs) Battery Market Size, Share, Trends and Analysis by Metal Type (Lithium, Nickel, Cobalt, Manganese, Aluminum, Others), Battery Type (Lithium-ion (Li-ion) Battery, Nickel-metal Hydride Battery, Others), Application (Personal Vehicles, Commercial Vehicles), Region and Segment Forecast 2023-2030
• Cobalt Mining Market Analysis including Reserves, Production, Operating, Developing and Exploration Assets, Demand Drivers, Key Players and Forecasts, 2021-2030
• Nickel Mining Market Analysis including Reserves, Production, Operating, Developing and Exploration Assets, Demand Drivers, Key Players and Forecasts, 2021-2026
• Hybrid and Electric Cars Market Summary, Competitive Analysis and Forecast, 2017-2026
• Copper Mining Market by Reserves and Production, Assets and Projects, Demand Drivers, Key Players and Forecast, 2022-2026
• Automotive Electrified Vehicles Market and Trend Analysis by Technology, Key Companies and Forecast, 2021-2036
• Automotive Electric Motors Market and Trend Analysis by Technology, Key Companies and Forecast, 2021-2036
• Automotive Battery Technologies Market and Trend Analysis by Technology, Key Companies and Forecast, 2021-2036

About us

GlobalData is a leading provider of data, analytics, and insights on the world’s largest industries. In an increasingly fast-moving, complex, and uncertain world, it has never been harder for organizations and decision-makers to predict and navigate the future. GlobalData’s mission is to help our clients to decode the future and profit from faster, more informed decisions. As a leading information services company, thousands of clients rely on us for trusted, timely, and actionable intelligence. Our solutions are designed to provide a daily edge to professionals within corporations, financial institutions, professional services, and government agencies.

Tags: EV Charging Infrastructure Market Size, EV Charging Infrastructure Market, EV Charging Infrastructure Market Trends, EV Charging Infrastructure Market Share, EV infrastructure market outlook, EV charging infrastructure market insight, EV charging infrastructure market worth, EV charging infrastructure market outlooks See Campaign: https://www.globaldata.com/store/report/ev-charging-infrastructure-market-analysis/

Contact Information:

GlobalData Mark Jephcott Head of PR EMEA mark.jephcott@globaldata.com cc: pr@globaldata.com +44 (0)207 936 6400

Tags:
Reportedtimes, Extended Distribution, iCN Internal Distribution, Research Newswire, English