Electric Vehicle Charging Station Market worth USD 155.49 Billion by

New York, Nov. 12, 2021 (GLOBE NEWSWIRE) — Electric Vehicle Charging Station Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Electric Vehicle Charging Station Market Research Report by Information By Charging Station (AC Charging Station, DC Charging Station and Inductive Charging Station), Connector Type (CHAdeMO, Combined Charging System and others), Installation Type (Residential and Commercial), Vehicle Type (Battery Electric Vehicle (BEV) and Plug-In Hybrid Vehicle (PHEV)) and Region – Forecast till 2030” the market is projected to be worth USD 155.49 Billion by 2030, registering a CAGR of 41.79% during the forecast period (2022 – 2030), The market was valued at USD 18.25 Billion in 2021.

List of the companies profiled in the global electric vehicle charging station market research report includes:

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The global electric vehicle charging station market is both fragmented as well as competitive for the presence of various international and also domestic industry players. The players have used innumerable innovative strategies to stay at the vanguard and also cater to the burgeoning need of the customers including contracts, collaborations, partnerships, contracts, joint ventures, new product launches, geographic expansions, and more. Further, they are also investing in different research and development activities.

Market Research Future’s Review on Electric Vehicle Charging Station Market

Drivers

Growing Adoption of EVs to Boost Market Growth

The growing adoption of electric cars across the globe will boost market growth over the forecast period. Owing to environmental problems, favorable initiatives and government policies, the use of EVs across different regions is significantly boosting the need for the EV charging station market. Electric vehicles help in reducing the operating price of usage in comparison to the soaring price of petrol. Manufacturers are creating EVs with longer usage duration and better battery life that is boosting market growth.

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Opportunities

Increase in Convenience Charging Stations to offer Robust Opportunities

The increase in convenience charging stations will offer robust opportunities for the market over the forecast period. The rapidly growing EV market is boosting innovation in electric vehicle technology and also associated infrastructure. EVs offer several benefits like decreased emissions from tailpipes and reduced fuel consumption that fuels their need across the world. In turn this will boost the requirement for charging stations for EVs. Charging stations are being developed rapidly as a part of government initiative programs and manufacturers of EV are getting involved to develop charging spots in parking locations. These manufacturers are laying emphasis to establish charging stations for EVs to improve the sales of EVs.

Restraints

High Cost to act as…