EV Charging Infrastructure Market Share, Key Trends, Growth Drivers, and Forecast for 2025 - 2031

Diligence Insights has released its latest study on the Global EV Charging Infrastructure Market, highlighting key trends, drivers, and market forecasts.

The global EV charging infrastructure market size was valued at $19.95 billion in 2025 and is projected to reach $35.73 billion by 2031, growing at a CAGR of 10.2% during the forecast period. Asia-Pacific holds the largest share of the EV charging infrastructure market, driven by government initiatives, increasing EV adoption, and investments by major companies.

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The EV charging infrastructure market is expected to witness significant growth in the future due to the increasing sales of electric vehicles globally, government incentives and policies promoting sustainable transportation, and growing environmental concerns. However, the high initial costs, limited standardization of charging technologies, and insufficient charging infrastructure in rural and less populated areas are restraining the growth of the market.

Furthermore, expansion of charging networks in urban areas, development of smart EV charging stations with advanced features like real-time data monitoring and energy management, and collaborations between governments, utility companies, and private enterprises to enhance charging infrastructure and accessibility are the key trends propelling the ev charging infrastructure market.

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Increasing Sales of Electric Vehicles Globally is Driving the EV Charging Infrastructure Market

The increasing sales of electric vehicles globally is significantly impacting the EV charging infrastructure market, driving investments and innovations to support the rapid adoption of electric mobility. As more consumers and businesses transition to EVs, the demand for accessible and efficient charging solutions has surged.
• For instance, in India, the number of electric vehicle registrations skyrocketed from approximately 53,387 in 2013 to over 2.83 million by August 2023, reflecting a growing acceptance of electric mobility.
This surge has prompted the Indian government to implement initiatives such as the Faster Adoption and Manufacturing of (Hybrid and) Electric Vehicles (FAME) scheme, which was extended in 2022 with a budget of INR 10,000 crore to bolster EV adoption and infrastructure development.
Additionally, the government has introduced subsidies for setting up charging stations, significantly reducing the financial burden on operators.
• In July 2023, the Indian government announced a battery swapping policy aimed at enhancing EV efficiency and reducing charging times, further supporting the infrastructure needed for widespread EV adoption.
• Major companies like Tata Power and 1C Charging are also stepping up their efforts, launching new charging stations to meet the growing demand.
• Globally, companies such as ChargePoint and EVBox are expanding their networks, with ChargePoint reporting over 70,000 charging locations as of early 2024.
This robust growth in EV sales and the corresponding expansion of charging infrastructure highlight the interconnected nature of these markets, where increased EV adoption drives the need for reliable and widespread charging solutions, ultimately fostering a sustainable transportation ecosystem.

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By Application, the Commercial Segment is projected to be the Largest Segment in the EV Charging Infrastructure Market

Commercial is the largest segment in the EV charging infrastructure market, driven by increasing adoption of electric vehicles (EVs) by businesses and the corresponding demand for charging solutions in commercial settings. Governments across the Asia-Pacific region are implementing supportive policies and initiatives to facilitate this growth.
• For instance, in 2021, the Government of India allocated USD 486 million for adopting 7,090 electric buses, which is part of a broader strategy to enhance public transportation and charging infrastructure.
Additionally, the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme was launched to encourage the establishment of charging stations, particularly in commercial areas. In China, a USD 1.4 trillion public spending program announced in 2020 aims to fund the installation of approximately 1.2 million chargers by 2025, significantly bolstering the commercial charging network.
• Companies like Tata Power and ChargePoint are actively expanding their charging networks to cater to the growing demand from commercial fleets and businesses.
• For example, Tata Power has been installing fast-charging stations in strategic locations to support electric buses and commercial vehicles.
• Furthermore, in 2023, the Zero Emission Vehicle Infrastructure program in Canada received an additional CAD 150 million (USD 112 million) to enhance charging infrastructure at workplaces and multi-unit residential buildings, emphasizing the importance of commercial applications in the EV charging ecosystem.
This combination of government support, corporate investment, and the rising number of EVs in commercial fleets is driving significant growth in the EV charging infrastructure market within the commercial application segment.

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Some of the Players in the hydrogen market are:

• ABB Ltd.
• ChargePoint, Inc.
• Leviton Manufacturing Co., Inc.
• Blink Charging Co.
• Tesla Inc.
• Webasto Group
• bp pulse
• Eaton Corporation plc
• Schneider Electric, Inc.
• Siemens
• BTC Power
• Delta Electronics, Inc.
• Tritium DCFC Limited

The report offers insights into the following aspects:

• Analysis of major market trends, factors driving, restraining, threatening, and providing opportunities for the market.
• Analysis of the market structure by identifying various segments and sub-segments of the market.
• Understand the revenue forecast of the market for North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
• Analysis of opportunities by identification of high-growth segments/revenue pockets in the market.
• Understand major player profiles in the market and analyze their business strategies.
• Understand competitive developments such as joint ventures, alliances, mergers and acquisitions, and new product launches in the market.

About Diligence Insights:

Diligence Insights is a leading market intelligence and advisory firm committed to delivering insights that uncover the subtle shifts capable of reshaping entire industries. We specialize in identifying the "butterfly effects" that can significantly influence market dynamics. Our comprehensive research reports offer exclusive data, in-depth analysis, key industry trends, and a detailed view of the competitive landscape-empowering businesses to make informed, strategic decisions.

CONTACT:
Andrew Nowik
info@diligenceins.com

This release was published on openPR.