Product ID: SQMIG25C2045
Report ID:
SQMIG25C2045 |
Region:
Global |
Published Date: February, 2024
Pages:
243
|
Tables:
142 |
Figures:
78
Electric Vehicle Charging Infrastructure Market Drivers:
The growth of charging infrastructure development has been highlighted by the rising acceptance and use of electric vehicles. Among the nations investing extensively in EV charging infrastructure and research & development for quicker and more effective charging methods include China, the United States, and Germany.
A number of technological developments, such as the integration of all-EV charging station systems with internet of things (IoT) and real-time information solutions, are driving market progress. With the help of these technologies, customers can find nearby charging stations, get up-to-the-minute updates on vacant spots, and plan convenient fill-up times.
Electric Vehicle Charging Infrastructure Market Restraint:
On the other hand, the market's growth rate will be constrained by the current electric vehicle charging infrastructure's lack of standardisation. Variations in charging loads and the expansion of the electric vehicle market have drawn attention to the need for standardisation of charging stations. The installation of electric vehicle charging stations is restricted by strict regulations, which will slow the market's expansion. Along with this, the low power grid infrastructure and high cost of EVs compared to ICE vehicles would restrain market expansion.
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REQUEST FREE CUSTOMIZATIONElectric Vehicle Charging Infrastructure Market size was valued at USD 31.39 billion in 2019 and is poised to grow from USD 39.44 billion in 2023 to USD 121.09 billion by 2031, growing at a CAGR of 25.5% in the forecast period (2024-2031).
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Product ID: SQMIG25C2045