Electric Vehicle Charging Infrastructure Market Industry Analysis, Growth Factors and Competitors Details

The market for electric vehicle charging infrastructure was estimated to be worth USD 25.8 billion in 2023 and is projected to increase at a compound annual growth rate (CAGR) of 25.5% to reach USD 158.77 billion by 2031.

The market for electric vehicle charging infrastructure has grown as a result of rising concerns about carbon emissions and the increasing use of electric vehicles (EVs) worldwide. Government policies and tax breaks encourage the use of electric vehicles (EVs) even more, which increases demand for EV charging infrastructure.

Governments all over the world are enacting laws designed to encourage the expansion of the EV business as a result of the growing popularity of EVs, which is driving up demand for EV charging infrastructure. For example, the US Federal Government offers eligible EVs a tax credit of up to USD 7,500. Furthermore, the Canadian government wants to reach a goal of having zero emissions from all light-duty cars sold by 2040. It is anticipated that such government programs to encourage EV adoption will accelerate market expansion.

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Top Key Companies of Electric Vehicle Charging Infrastructure Market
ABB Ltd
Leviton Manufacturing Co Inc
Tesla Inc
bp pulse
Siemens
Delta Electronics Inc
ChargePoint Inc
BTC Power
Eaton Corporation Plc
Webasto Group

Market Segmentation
By Charger Type
-Slow Charger
-Fast Charger

By Charging Type
-AC
-DC

By Connector
-CCS
-CHAdeMO
-Others

By Installation Type
-Fixed
-Portable

By Level Of Charging
-Level 1
-Level 2
-Level 3

By Connectivity
-Connected Charging Stations
-Non-connected charging stations

By Operation
-Mode 1
-Mode 2
-Mode 3
-Mode 4

By Deployment
-Private
-Public
-Semi-Public

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The global automotive industry is about to undergo a transformation because to advancements in battery and charging technologies. The travel range of electric vehicles per charge has increased because to improved battery technology, and new chargers can recharge batteries more quickly, which is encouraging more people to buy electric vehicles. The need for electric vehicle charging stations is being fueled by this increase in demand. Further adoption of electric vehicles is anticipated as a result of the growing emphasis on shared and autonomous transportation, which will also favorably affect the market for infrastructure for charging electric vehicles.

Many suppliers of infrastructure for charging electric vehicles are concentrating on creating new solutions that offer clients improved infrastructure for charging. For example, Leviton Manufacturing Co., Inc. stated in January 2023 that it will be introducing EV Series charging stations that work with the My Leviton application. The series consists of 32-, 48-, and 80-amp Level 2 charging stations that can charge every type of electric vehicle in North America. This demonstrates Leviton Manufacturing's dedication to meeting the need for electric transportation by offering cutting-edge EV charging solutions.

The market is expanding at a rapid rate and is currently in a high stage. The market for electric car charging infrastructure is distinguished by a high level of innovation and quickly advancing technological advancements. Electric vehicles are becoming more practical and easy to drive on a daily basis because to technological breakthroughs including better battery and charging infrastructure.

The top competitors in the electric car charging infrastructure market also engage in a high degree of collaborations and collaboration. To supply charging options and bolster their market positions globally, a number of prominent businesses are forming partnerships with manufacturers of electric vehicles.

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