The Business Research Company’s Electric Vehicle Charging Stations Equipment Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Electric Vehicle Charging Stations Equipment Global Market Report 2023 evaluates electric vehicle charging stations market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global electric vehicle charging stations market is expected to grow from $23,250.0 million in 2027 at a rate of 33.9%. The market is then expected to grow at a CAGR of 30.7% from 2027 and reach $88,573.1 million in 2032.
Demand for electric vehicles charging stations is estimated to increase going forward, driven by the rise in fuel prices. Fuel prices across the globe, especially petrol prices, have been rising. For example, in March 2022, the cost of fuel reached a record high in the US. On March 10, a gallon of fuel (petrol) cost $4.31 on average. Gas prices increased to the highest level in 14 years and have surpassed the previous record of $4.11 established on July 17, 2008. Diesel is much more expensive, costing $5.05 per gallon on average. The petrol prices in India were as high as INR 110.04 ($1.47) on 3rd November 2021. Electric vehicles have a minimum battery life of eight years, and the charging cost is much lower compared to monthly expenditure on fuel. Fuel prices in India are high due to heavy taxation, which might increase further. Industrial fuel vehicles also cause supply disruptions due to a price hike. Moreover, oil imports heavily increase India’s import bill. The government has already made efforts to encourage e-transport by gradually phasing out fuel-run public transport vehicles in some cities and replacing them with EVs. Hence, due to the increase in fuel prices, customers are expected to shift towards EVs, increasing the demand for electric vehicle charging stations.
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The electric vehicle charging stations market segments in the report are:
1) By Installation Type: Home Charging System; Commercial Charging System
2) By Connector Type: CHAdeMO; CCS; GB/T; Tesla Supercharger; Other Connector Types
3) By Mode Of Charging: Plug In Charging System; Wireless Charging System
4) By Charging Station: AC Charging Station; DC Charging Station
The table of contents in TBRC’s electric vehicle charging stations market report includes:
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