Electric Vehicle Charging Stations Market Poised to Expand at a Robust Pace Over 2025

Electric Vehicle Charging Stations Market Set to Surge Significantly by 2025
With the bolstering sales of electric vehicles worldwide, automakers are keen towards establishing
robust infrastructure so as to fulfil the operational requirements of these electric vehicles. Increasing
adoption of electric vehicles demands proper infrastructure for charging. Moreover, to meet the
consumer demand, significant advancements, both in home and outdoor charging are expected over
the forecast period. Rapid increase in number of publically accessible charging stations has been
witnessed in developed regions such as North America and Western Europe that suffice charging
demands through high voltage and high currents. Furthermore, technology leaders are focusing on
introducing electric vehicle charging stations with better charging capabilities and reduced charging
time. One such example is Tesla Supercharging Station – an electric vehicle charging station that
utilizes DC current and supplies at most 120 kW per car. The Tesla supercharger can charge a
vehicle’s battery up to 50% within 20 minutes.
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The electric vehicle charging stations market when mapped out of a product life cycle is still in
growth phase and is expected to remain lucrative and opportunistic due to ongoing significant
research and development in the technical field. Following the footprints of leading players in the
market, fast vehicle charging stations are expected to be the area of focus for the remaining players
over the forecast period. Furthermore, electric vehicle manufacturers are developing strategies to
attract large customer base for electric vehicles through providing free charging access. Such
strategies added with robust macro-economic environment supporting the growth of electric
vehicles market is expected to boost the growth of the electric vehicle charging stations market too,
over the forecast period.
The global electric vehicle charging stations market is expected to be significantly driven by
incentives and subsidies from governments that fuel sales of electric vehicles. Strategic initiatives
by major players to provide free charging facility to electric vehicle owners will gain significant
attraction in the market over the forecast period. Preference of home charging stations by electric
vehicle owners, especially in North America and Europe is expected to significantly boost the sales
of AC electric vehicle charging stations over the forecast period. Presently, the market for electric
vehicle charging stations is highly consolidated, and thus there exists huge influence of major
players and hence electric vehicle charging stations lack standardization, which in turn is expected
to restrain growth of the market. Moreover, higher cost of DC charging stations over the
conventional electric vehicle charging stations can further hamper market growth.
Asia Pacific is expected to dominate the volume demand for electric vehicle charging stations over
the forecast period owing to the expanding market of electric vehicles due to various government
incentives and subsidies. North America and Europe are expected to be the fastest growing regions
in terms of CAGR over the forecast period. U.S. is expected to witness significant increase in
installation of DC charging stations over the next few years. Increase in number of home electric
vehicle charging stations is also expected in the U.S. and Germany. Growth of the market in Middle
East and Africa is expected to remain moderate over the forecast period.
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The research report presents a comprehensive assessment of the market and contains thoughtful
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contains projections using a suitable set of assumptions and methodologies. The research report
provides analysis and information according to market segments such as geographies, application,
and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by
industry analysts, inputs from industry experts and industry participants across the value chain. The
report provides in-depth analysis of parent market trends, macro-economic indicators and governing
factors along with market attractiveness as per segments. The report also maps the qualitative
impact of various market factors on market segments and geographies.
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