Factors, such as heavy traffic congestion and incomplete combustion of fossil fuels, are responsible for the increasing levels of CO2 and other greenhouse gas emissions. According to the United States Environmental Protection Agency (EPA), transportation caused about 27% of the total greenhouse gas emissions in 2020. Nearly 1/3rd of the greenhouse gasses are generated by transportation and road transport is responsible for nearly 1/5th of the European Union’s (EU) total carbon dioxide (CO2) emission. Many metropolitan cities have been facing smog and air quality issues, which have caused respiratory diseases. Such conditions are making it difficult to survive in the existing environment. In Europe, air pollution is responsible for the death of around 450,000 people every year. To overcome the pollution issue, the National Emission Reduction Commitments (NEC) directive set emission targets for five pollutants: NMVOCs, NOX, NH3, PM2.5, and SO2.
Advances in battery and charging technology are set to transform the global automotive industry. While the evolving battery technology has increased the traveling range of electric vehicles per charge, innovative chargers being introduced in the market are capable of charging the batteries faster than before, thereby encouraging more and more consumers to opt for electric vehicles and triggering the demand for electric vehicle charging units. The growing emphasis on autonomous vehicles and shared mobility, which would culminate in a growing adoption of electric vehicles, also bodes well for the electric vehicle charging infrastructure market. Although North America and Europe have been ahead in the adoption of electric vehicles, Asia Pacific is also emerging as a significant regional market, particularly driven by China, which is expected to account for almost 50% of the global sales of electric vehicles over the forecast period.
Costs associated with EV charging equipment are a major factor constraining the market growth. There are several costs associated with the charging infrastructure including installation costs, maintenance costs, and operational costs. Moreover, other tasks, such as feasibility analysis, project management, and consultancy, also incur additional costs. The adoption of electric vehicles depends majorly on the availability of adequate charging infrastructure. However, the high costs involved in rolling out the infrastructure can potentially hinder the market growth. The growing demand for electric vehicle charging equipment is prompting the manufacturers of charging equipment to innovate and launch new products. For instance, Qualcomm Incorporated is working on a new wireless Dynamic Electric Vehicle Charger (DEVC) capable of rapidly charging electric vehicles.
This section will provide insights into the contents included in this electric vehicle (EV) charging infrastructure market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Market drivers and restraints
Key market opportunities prioritized
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2030
Market estimates and forecast for product segments up to 2030
Regional market size and forecast for product segments up to 2030
Market estimates and forecast for application segments up to 2030
Regional market size and forecast for application segments up to 2030
Company financial performance
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