Electric Vehicle Charging Infrastructure Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Electric Vehicle Charging Infrastructure Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 24, 2024 /EINPresswire.com/ -- The electric vehicle charging infrastructure market has experienced exponential growth, expanding from $23.73 billion in 2023 to $31.74 billion in 2024, marking a robust compound annual growth rate (CAGR) of 33.8%. It will grow to $90.15 billion in 2028 at a compound annual growth rate (CAGR) of 29.8%.This surge is attributed to environmental concerns, government incentives, reduced operating costs, and increased public awareness and acceptance.

Rising Electric Vehicle Sales Driving Market Growth
The rising adoption of electric vehicles (EVs) is a pivotal factor fueling the growth of the electric vehicle charging infrastructure market. EVs, powered by electricity stored in batteries or obtained from external sources like charging stations, are gaining popularity due to advancements in battery technology, government subsidies, and a global shift towards sustainable transportation alternatives. According to the International Energy Agency, global sales of electric cars have skyrocketed, with projections indicating a staggering rise from 2.3 million units sold in early 2022 to an anticipated 14 million by the end of 2023.

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Key Players and Market Innovations
Major companies such as Shell plc, Tesla Motors Inc., and ABB Group are at the forefront of innovation in the electric vehicle charging infrastructure market. These companies are focusing on developing advanced solutions including electric vehicle charging fleet management systems to meet the growing demand for efficient and sustainable charging networks. For instance, AmpUp launched the AmpUp Fleet Manager in early 2022, an innovative platform designed to optimize and manage charging infrastructure for electric fleets of all sizes.

Segments of the Market
•Charger Type: Slow Charger, Fast Charger
•Charging Type: Alternative Current Charging, Direct Current Charging
•Connector Type: CHAdeMO, Combined Charging System (CCS), Other Connector Types
•Charging Level: Level 1, Level 2, Level 3
•Application: Residential, Commercial, Other Applications

Regional Insights: Asia-Pacific Leading the Way
Asia-Pacific emerged as the largest region in the electric vehicle charging infrastructure market in 2023, driven by significant investments in EV infrastructure and government initiatives promoting sustainable mobility. Meanwhile, Europe is anticipated to witness the fastest growth during the forecast period, fueled by stringent emissions regulations and robust EV adoption rates.

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Electric Vehicle Charging Infrastructure Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Electric Vehicle Charging Infrastructure Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on electric vehicle charging infrastructure market size, electric vehicle charging infrastructure market drivers and trends, electric vehicle charging infrastructure market major players, competitors' revenues, market positioning, and market growth across geographies. The electric vehicle charging infrastructure market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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