EV charger market worth $143.8b in 2030
![ProEXR File Description
=Attributes=
channels (chlist)
compression (compression): Zip16
dataWindow (box2i): [0, 0, 2399, 1199]
displayWindow (box2i): [0, 0, 2399, 1199]
lineOrder (lineOrder): Increasing Y
pixelAspectRatio (float): 1
screenWindowCenter (v2f): [0, 0]
screenWindowWidth (float): 1
type (string): "scanlineimage"
=Channels=
B (float)
G (float)
Hintergrund.blue (float)
Hintergrund.green (float)
Hintergrund.red (float)
R (float)
alpha.blue (float)
alpha.green (float)
alpha.red (float)
diffuse_direct.blue (float)
diffuse_direct.green (float)
diffuse_direct.red (float)
diffuse_indirect.blue (float)
diffuse_indirect.green (float)
diffuse_indirect.red (float)
specular_direct.blue (float)
specular_direct.green (float)
specular_direct.red (float)
specular_indirect.blue (float)
specular_indirect.green (float)
specular_indirect.red (float)](https://evsandbeyond.co.nz/wp-content/uploads/2023/08/ABB-Terra-3609333.jpg)
The electric car charger market is estimated to be worth $12.6 billion (US$7.5b) and is expected to reach $143.8b (US$85.5b) by 2030, with a 29.1% compound annual growth rate (CAGR).
That’s according to Adroit Market Research, adding chargers are essential for broad EV adoption as EV sales increase, and are generally available under Level 1, Level 2, and DC fast chargers.
“Many countries are enacting laws and providing incentives throughout the globe to promote the usage of electric vehicles and the development of a charging infrastructure,” it says.
“These programmes include grants, financial incentives, tax advantages, and subsidies for the establishment of electric vehicle charging stations. Such government assistance has been crucial in promoting market expansion.”
A significant opportunity exists to increase charging infrastructure to meet the growing EV demand, says Adroit Market Research.
“This entails adding additional public charging stations to roads, public parking lots, and metropolitan areas. Residential charging options, including home charging stations and community charging hubs, are also required.
“To accommodate the rising demand, public charging networks as well as household and business charging options are being built. The growth of the charging infrastructure is being fuelled by investments from private firms and utility suppliers, improving accessibility and convenience for EV owners.”
The research company says EV charger technology developments are seeing faster charging times, more efficiency, and improved user experiences.
“By resolving concerns about range anxiety, faster charging options, including DC fast charging, have decreased charging times and enhanced the desirability of electric vehicles.
“The market for electric car chargers is expanding due to cooperation between automakers, charger manufacturers, utility providers, and other stakeholders. Partnerships are designed to create interoperability standards, expand the reach of the charging infrastructure, and give electric car owners smooth charging experiences.”
Click here for more information.
Join the conversation