Electric Vehicle Charging Station Market Report | Electric Vehicle Charging Station Market
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Global electric vehicle charging station market is expected to grow from 3.2 Million units in 2017, to 26.3 Million units by 2024, at a CAGR of 35.48% from 2018 to 2024. The goal to introduce the EV vehicles in the market is to reduce the greenhouse gas emissions and tackle the ecological scarcities; since these vehicles provides low carbon, are highly efficient and are cost effective transportation. These reasons are promoting the growth of the global market. The government initiatives supporting EV’s charging stations installation are also promoting the growth of the market. Moreover, huge investments by major players to install the stations infrastructure, is expected to further drive the market.
Electric vehicles are slowly gaining market share in the automobile industry. Countries around the world are taking initiatives by updating their policy framework conducive to EV and EV charging station adoption. Moreover, manufacturers are making attempts to make electric vehicles affordable for the common populace. This has lead to a catalyzing environment for the growth of EV’s charging station market.
Rise in awareness among customers about dire effects of pollution on the environment due to oil based combustion engine in vehicles is the biggest reason of switch to electrical vehicles. Estonia has an extensive network of fast charging stations to facilitate easy commuting. China currently holds the largest number of EV charging station in the world. This can be attributed to the large automobile industry and increase demand for vehicles with low carbon emissions in this region.
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Last Update : Sep 14, 2018
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|Item Owner : Energias Market Research|
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