The electric vehicle charging infrastructure market is poised to grow by $ 17.64 bn during 2020-2024 progressing at a CAGR of 52% during the forecast period predicts the report of ResearchAndMarkets.com.
The report on the electric vehicle charging infrastructure market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the growing production of EVs, rise in government initiatives that support installation of EV charging stations and increase in investments by vendors to install EV charging infrastructure. In addition, growing production of EVs is anticipated to boost the growth of the market as well.
The electric vehicle charging infrastructure market analysis include type segment and geographic landscapes. This study identifies the increasing investment in EV charging stations powered by renewable sources as one of the prime reasons driving the electric vehicle charging infrastructure market growth during the next few years. Also, emergence of wireless charging of EVs and proliferation of vehicle to grid (V2G) energy transfer will lead to sizable demand in the market.