The electric vehicle charging stations market
is expected to grow from USD 3.22 Billion in 2017 to reach USD 30.41 Billion by
2023, at a CAGR of 41.8% between 2018 and 2023. The base year considered for
the study is 2017, and the forecast period is between 2018 and 2023.
There has been a highly favorable
ecosystem for a sustainable growth of the electric vehicle charging stations
market. Many countries are taking various initiatives to encourage the use of
electric vehicle (EVs) to curb the growing concerns related to environmental
pollution and global warming. The initiatives are acting as a positive growth
driver for the market. For instance, in November 2016, the US administration
announced that it will develop 48 national EV charging networks for highways to
cover an overall distance of approx. 25,000 miles across 35 states of the
country. This initiative has led 28 states, utilities, EV charging firms, and
major EV manufacturing companies, including General Motors, BMW, and Nissan, to
work together. Furthermore, in May 2016, the German government launched an
attractive incentive program for EV buyers. As per the new scheme, EV buyers
will receive a direct discount of USD 4,520. Such incentive schemes and the
government’s decision to discontinue fossil fuel vehicles by 2030 are expected
to drive the growth of the electric vehicle charging stations market.
https://www.marketsandmarkets.com/PressReleases/electric-vehicle-charging-stations.asp
The electric vehicle charging
station ecosystem comprises EV charging station manufacturers, software
providers, and distributors. The players involved in the manufacturing of
electric vehicle charging stations include ABB (Switzerland), AeroVironment
(US), ChargePoint (US), Engie (France), Tesla (US), Schneider Electric
(France), Siemens (Germany), Efacec (Portugal), EVgo (US), Leviton (US), Alfen
(Netherlands), Allego (Netherlands), Blink Charging (US), Clipper Creek (US),
SemaConnect (US), and TGOOD (Hong Kong).
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