openPR Logo
Press release

EV Charging Station Market worth $76.9 billion by 2027

The EV Charging Station market is projected to grow from USD 11.9 billion in 2022 to USD 76.9 billion by 2027, registering a CAGR of 45.0% from 2022 to 2027. Factors such as rising EV sales worldwide, along with government support and policies for mass EV adoption, are positively driving the growth of the EV charging station market. Furthermore, the reduction in EV prices over the years and decreasing EV battery prices are expected to drive further growth.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=89574213

Three Phase chargers are expected to grow at the highest rate by volume during the forecast period

The demand for three-phase EV chargers is expected to increase significantly as more people switch to electric vehicles. This growth will be driven by a combination of government initiatives promoting the adoption of electric vehicles and improvements in EV technology, making them more accessible and affordable for consumers. With this growth, the need for charging infrastructure will continue to rise, and three-phase EV chargers will play a critical role in meeting this demand. The primary advantage of three-phase chargers over one-phase chargers is their speed and safety systems like Overload protection, Short-Circuit protection, Thermal protection and others. With their ability to provide maximum charging power, three-phase chargers can charge an electric vehicle several times faster than one-phase chargers.

Fixed Chargers segment held the largest market share in the EV Charging station market

Fixed chargers, also known as charging stations or points, are EV chargers that need infrastructure and cannot be moved as required. These charging stations can be placed in public places, highways, malls, and offices. EV drivers need to bring their electric vehicles to the charging station to charge vehicles. A fixed charger is more expensive than a portable one because it needs infrastructure. However, a fixed charger generates more power than a portable charger, requiring less time to charge vehicles.

Request Free Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=89574213

"North America will have a significant growth rate during the forecast period."

North America is home to developed countries like the US and Canada, which serve as regional hubs for renowned OEMs that produce quality and high-performance vehicles. Tesla and GM are among the OEMs that focus on developing faster, cleaner, and high-performance electric vehicles with charging facilities. Tesla alone has over 1,400 superchargers locations in the US region as of November 2022. The demand for CCS is expected to increase in the North American market, and top charging providers prefer CCS chargers to collaborate with top OEMs. Tesla also plans to provide CCS ports in its new superchargers. The new US regulations for setting up 500,000 public charging stations by 2030 and the government's incentives will speed up the demand for EV charging stations in the country. Canada is also expected to witness a growing demand for charging stations, given its new EVCS startup environment and an increasing number of EVs in the country. However, these North American countries may face grid-related problems and need to update their power generation capacities as the demand for EVs and EV charging stations increases in the coming years.

Key Market Players:

ABB (Switzerland), Shell (Netherlands), Tesla (US), ChargePoint (US), and BYD (China) are some of the prominent players in the global electric vehicle charging station market.

View Detail TOC @ https://www.marketsandmarkets.com/Market-Reports/electric-vehicle-supply-equipment-market-89574213.html

630 Dundee Road
Suite 430

Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: newsletter@marketsandmarkets.com
Phone: 18886006441
Address: 630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release EV Charging Station Market worth $76.9 billion by 2027 here

News-ID: 3306268 • Views:

More Releases from MarketsandMarkets™ INC.

Automotive Camera Market Size, Share, Trends & Forecast Report, 2028
Automotive Camera Market Size, Share, Trends & Forecast Report, 2028
The automotive camera market worldwide size was valued at USD 8.0 billion in 2023 and is expected to reach USD 13.9 billion by 2028, at a CAGR of 11.7% during the forecast period. The cameras are used as advanced safety devices for enhancing the visibility of the surrounding environment to improve vehicle safety. The growing demand for Advanced Driver Assist Systems (ADAS) in developed and developing nations is attributed to
Automotive Software Market Size, Share, Forecast, Report, 2030
Automotive Software Market Size, Share, Forecast, Report, 2030
According to a research report "Automotive Software Market by ICE Application (ADAS, Autonomous Driving, Infotainment, Body Control & Comfort, Telematics), Software Layer (OS, Middleware, Application), Vehicle Type (PCs, LCVs, HCVs), EV Application & Region - Global Forecast to 2030" published by MarketsandMarkets, the global automotive software market size is projected to grow from USD 19.0 billion in 2023 to USD 32.3 billion by 2030, at a CAGR of 7.8%. The
Future of Hydrogen in Automotive Market worth 353 Thousand Units by 2035
Future of Hydrogen in Automotive Market worth 353 Thousand Units by 2035
According to a research report "Future of Hydrogen in Automotive Market by Vehicle Type (Passenger Car, Light Commercial Vehicle, Bus, and Truck), Propulsion Type (FCEV, FCHEV, and H2-ICEV), H2 Refueling Points (Asia Pacific, Europe, and North America) and Region - Global Forecast 2035" published by MarketsandMarkets, the Future of hydrogen in automotive market size is projected to grow from an estimated 23 thousand units in 2024 to 353 thousand units
EV Charging Station Market Size, Share, Trends & Analysis by 2030
EV Charging Station Market Size, Share, Trends & Analysis by 2030
According to a research report "EV Charging Station Market by Application, Level of Charging, Charging Point, Charging Infrastructure, Operation, DC Fast Charging, Charge Point Operator, Connection Phase, Service, Installation and Region - Global Forecast to 2030" published by MarketsandMarkets, the global EV Charging Station Market is projected to grow from USD 7.3 billion in 2024 to USD 12.1 billion by 2030, at a CAGR of 8.8%. Factors such as rising EV

All 5 Releases


More Releases for North

North America Epoxy Composites Market
North America Epoxy Composites Market, By Type (Glass Fiber, Cotton Fiber, Paper Fiber), Resin Type (Epoxy Resin, Phenolic Resin, Melamine Resin), Manufacturing Process (Layup Process, Compression Molding Process, Resin Injection Molding Process, Resin Transfer Molding Process, Filament Winding Process, Pultrusion Process), End User (Wind Energy, Aerospace and Defense, Sporting Goods, Automotive and Transportation, Electrical and Electronics, Pipe and Tank, Marine, Others), Country (U.S., Mexico, Canada) Industry Trends and Forecast to
North America Drone Simulator industry report - North America Drone Simulator Ma …
The drone simulator market in North America is expected to reach US$ 535.17 million by 2028 from US$ 251.38 million in 2021; it is estimated to grow at a CAGR of 11.4% from 2021 to 2028. The latest North America Drone Simulator Market study offers an all-inclusive analysis of the major strategies, corporate models, and market shares of the most noticeable players in this market. The study offers a thorough analysis
UberJets Helping People Get North!
In 2022 consumers have the freedom to purchase, order, or reserve, practically anything with a click of a button. Buying has never been more transparent through the utilization of mobile app technology. Typically, users can perform tasks such as book a hotel or purchase game tickets all from an app; so it only makes sense that one can order a private aircraft to get to anywhere, and anytime using the
02-07-2020 | Health & Medicine
CRIFAX
North America Apnea Monitors Market : North America Opportunity Analysis and Ind …
CRIFAX has recently announced its latest research report on 'North America Apnea Monitors Market, 2020-2028' to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, region-wise growth analysis along with challenges that are affecting the growth of the market are also stated
North America Footwear Market -Consumers In North America Are More Inclined Towa …
In the last couple of years, North America has emerged at the forefront of the fashion and sports apparel industry. Not only has easy and uninterrupted internet access bolstered consumer awareness regarding the latest buzz in the fashion scenario, but it has also helped them shop for the products they want with a simple touch of their fingers on their smartphones or tablets. The developed countries in the region such
Electrical Fuses Market: Production Enterprise To Become Main Application Phase …
The North America electrical fuses market is likely to witness the advent of more compact and slimmer electronics with leading players vying to cater to ever-changing consumer preferences. The development of the latest technologies and innovation have thus emerged as the most defining trends in the market. The electrical fuses market in North America is primarily driven by the rising demand for electricity and efficient power delivery systems. Besides this,