Electric Vehicle Charging Station Market Overview
The global electric vehicle charging station market was valued at USD 5.03 billion in 2020 and is expected to register a value of USD 36.87 billion by 2026, with a CAGR of 44.44%. The European market captured around 43% of the global EV sales in 2020, compared to 26% in 2019. The annual sales volume of electric passenger cars is projected to cross the 5 million mark by the end of 2025. The EV market is witnessing significant growth due to the growing environmental concerns and rising demand for sustainable and energy-efficient transportation. The major factors driving the demand for EV charging stations are the enactment of stringent emission and fuel economy norms, government incentives, and the increasing sales of electric vehicles.
Geographical Overview
The Asia Pacific accounted for the largest share in the electric vehicle charging station market
In Asia-Pacific, China is the largest market for electric cars and buses, and it sold 872 thousand units of New Energy Vehicles (both passenger and commercial vehicles) for the first nine months in 2019, exhibiting a growth rate of 20.8%. The government of China has extended the incentives relating to the purchase of new energy vehicles (NEVs) till 2022. The electric vehicle market in Japan has been experiencing tremendous growth, and the Japanese government aims to transform all the new cars, sold in the country, into electric or hybrid vehicles, and to reduce the emissions of carbon dioxide and other greenhouse gasses, by about 80% per vehicle, by 2050.
Key Highlights of the Market
Report scope can be customized per your requirements. Click here.
List of Key Players in the Electric Vehicle Charging Station Market
Mordor Intelligence has segmented the global electric vehicle charging station market on the basis of Vehicle, Charging, Application type, and Geography:
Related Reports & Links
Follow us on LinkedIn: Mordor Intelligence
About Mordor Intelligence
Mordor Intelligence is a market intelligence and advisory firm. Our mission is to map complex business ecosystems across the globe to better predict butterfly effects. To date, we have partnered with 4000+ enterprises across 20 industries, to deliver precise data and actionable insights in over 6000 projects. Our domain-specific teams of research experts continuously track markets, enabling our clients to gain a competitive edge through high-quality market intelligence.
We offer fully tailored intelligence solutions to meet the unique business requirements of any organization. Our deep industry expertise coupled with cross-functional analyst teams ensures we can support the intelligence requirements of even the most specific of business problems.
Media ContactCompany Name: Mordor Intelligence Private LimitedContact Person: Bhargav PEmail: Send EmailPhone: +1 617-765-2493Address:5th Floor, Rajapushpa Summit, Nanakramguda Rd, Financial District, Gachibowli City: HyderabadState: Telangana 500008Country: IndiaWebsite: https://www.mordorintelligence.com/industry-reports/electric-vehicles-charging-stations-market?utm_source=press-release&utm_medium=AAD&utm_campaign=AB_Newswire