EV Charging Infrastructure Market Revenue to Surpass USD 23,395.77Million by 2028 at 15.0% CAGR by The Insight Partners

The EV Charging Infrastructure Market report by “The Insight Partners” entails detailed information regarding the dynamics affecting market over the period.

NEW YORK, UNITED STATES, November 2, 2022 /EINPresswire.com/ -- According to our latest market study on” “EV Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Platform (Hardware and Services), Hardware (AC Charger and DC Charger), Charger Type (Public Chargers and Private Chargers), and IEC Mode (2, 3, and 4)”

The EV charging infrastructure market was valued at US$ 8,805.35 million in 2021 and is projected to reach US$ 23,395.77 million by 2028; it is expected to grow at a CAGR of 15.0% from 2021 to 2028.

The electric vehicle business is quickly expanding across the world, particularly in China and the US. The electric vehicle charging market is a fast-paced industry with a diverse set of applications. The growth of automobile charging stations is aided by government programs in a number of nations. The construction of fast-charging stations has been approved by China's central government through national regulations. Similarly, the government in the US plays an important role by establishing obligatory regulations and funding for the development of electric vehicle charging stations. However, in a few countries/regions, there are very few commercial charging stations, forcing consumers to rely on charging options available at their offices and residences.

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Companies Profiled in this report includes: Tritium; Blink Charging Co.; ChargePoint, Inc.; BP p.l.c.; EVBox; EVgo Inc.; Tesla, Inc.; Webasto Group; RWE AG; and Delta Electronics, Inc.

Impact of COVID-19 Pandemic on EV Charging Infrastructure Market

The onset of the COVID-19 crisis in 2020 led to a slowdown in the automotive and its infrastructure activities worldwide. All the regions reported in the analysis suffered a significant downturn in workloads during the first half of 2020. However, the pandemic accelerated the need for emission-free mobility, especially in the developed regions. According to estimations by IEA, the global electric car sales rose to more than 3 million, reaching a market share of over 4%. Notably, electric vehicle sales rose by a significant 160% in the first half of 2021 compared to 2020, representing 26% of total new sales in the global automotive market. As the sales of EV worldwide sore to exceptional heights, major global EV charging infrastructure players have been implementing smart charging solutions in various countries to create a supporting ecosystem complementing the development of future-ready connected, hassle-free, and safer mobility. For instance, during the pandemic period of 2020–2021, EV charging infrastructure companies, such as EVBox and Tritium, entered into partnerships, acquired several significant players, and have strongly focused on the research and development of smart EV charging infrastructure solutions.

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Key Findings of Study:

The EV charging infrastructure market is segmented on the basis of platform, hardware, charger type, IEC mode, and geography. Based on platform, the market is segmented into hardware and services. In 2020, the hardware segment led the market and accounted for a larger market share. Based on hardware, the global EV charging infrastructure market is categorized into AC charger and DC charger. In 2020, the AC charger segment led the EV charging infrastructure market. By charger type, the EV charging infrastructure market is bifurcated into public chargers and private chargers. The private charger segment led the EV charging infrastructure market in 2020. By IEC mode, the EV charging infrastructure market is segmented into 2, 3, and 4. In 2020, The 3 segment led the EV charging infrastructure market. By region, the EV charging infrastructure market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). Asia Pacific dominated the EV charging infrastructure market in 2020.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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The Insight Partners
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