What is the global market size of the North America Electric Vehicle Charging Stations Market?

North America Electric Vehicle Charging Stations Market size was valued at USD 426.88 million in 2021 and is poised to grow from USD 627.94 million in 2022 to USD 13766.38 million by 2030, growing at a CAGR of 47.1% in the forecast period (2023-2030).

North America Electric Vehicle Charging Stations Market Size, Share, Growth Analysis, By Technology(level 1, level 2 and level 3), By Vehicle type(battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV)) - Industry Forecast 2024-2031

Report ID: SQMIR20D2249 | Region: Regional | Published Date: April, 2024
Pages: 202 | Tables: 60 | Figures: 75

North America Electric Vehicle Charging Stations Market Insights

North America Electric Vehicle Charging Stations Market size was valued at USD 1.89 billion in 2022 and is poised to grow from USD 2.49 billion in 2023 to USD 22.84 billion by 2031, at a CAGR of 31.9% during the forecast period (2024-2031).

The electric vehicle charging station, also known as the electric vehicle supply equipment (EVSE), is a device that transfers electricity from the power grid and distributes it to electric vehicles such as battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles.

Government initiatives to promote the use of electric vehicles and related infrastructure, rising demand for electric vehicle fast-charging infrastructure, an increase in the prevalence of range anxiety, and increased use of EVs by shared mobility operators are the main factors influencing the growth of this market. Shifts in consumer purchasing behaviour caused by pandemic uncertainty are expected to have a significant impact on the industry's near-term growth.

Meanwhile, the shortfall and cash crunch have already had an impact on fleet operators' sales, which are expected to worsen in the coming months. Automobile manufacturers in North America are facing a major demand setback as a result of stringent federal, state, or provincial, and local regulations restricting travel and social interactions.

North America Electric Vehicle Charging Stations Market is poised to grow at a sustainable CAGR for the next forecast year.

North America Electric Vehicle Charging Stations Market Report Snapshots

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The report includes a competitive landscape based on a thorough examination of the key strategies employed by the market's leading players in the North America electric vehicle charging stations market. The presence of numerous local, regional, and global vendors characterises the global electric vehicle charging station market. The market for electric vehicle charging stations is highly competitive, with all players constantly competing for a larger market share. 'Tesla, Inc.', 'ChargePoint, Inc.', 'Electrify America LLC', 'SemaConnect, Inc.', 'EVgo Services LLC', 'Blink Charging Co.', 'Greenlots (a member of the Shell Group)', 'Webasto Charging Systems, Inc.', 'Siemens AG', 'Leviton Manufacturing Co., Inc.', 'AeroVironment, Inc.', 'Delta Electronics, Inc.', 'Schneider Electric SE', 'ClipperCreek, Inc.', 'Enel X', 'eMotorWerks', 'Chargefox Pty Ltd', 'FLO | AddEnergie', 'Ionity GmbH', 'Electrify Canada'

One of the key factors propelling the growth of the market for electric vehicle charging stations is the rise in the number of electric vehicle (EV) sales in the area. Due to growing environmental concern, customer preference is quickly shifting toward passenger and commercial electric vehicles (EV).

Top charging station manufacturers and network operators are increasing the availability of both private and public EV chargers. New safety measures were taken by the government and major industry players to advance production techniques. The correct audience was targeted by technological developments, which increased charging's sales rate. In the post-pandemic environment, the increased sales of electric vehicles are anticipated to further fuel market expansion.

According to estimates, the United States will account for the largest share of the North American electric vehicle charging station market in 2022. The country's large market share is primarily due to actions taken by local and state governments, as well as utility stakeholders, to reduce consumer barriers regarding policies, grants, and incentives for EVs and charging stations. During the forecast period, Canada is expected to have the fastest market growth rate in terms of value. The country's rapid market growth can be attributed to the government's and manufacturers' increasing efforts to develop electric vehicle charging infrastructure.

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North America Electric Vehicle Charging Stations Market Size, Share, Growth Analysis, By Technology(level 1, level 2 and level 3), By Vehicle type(battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV)) - Industry Forecast 2024-2031

North America Electric Vehicle Charging Stations Market Insights

North America Electric Vehicle Charging Stations Market Report Snapshots

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