Electric Vehicle Charging Equipment Market: Global Industry Trends, Growth, Opportunity and Forecast 2024–2033
The electric vehicle charging equipment market is expected to develop linearly and reach a value of USD 32,443.6 million in 2023. By 2033, it is expected to have grown to USD 556,377 million, with a compound annual growth rate (CAGR) of 32.9%.
Customers now have a stronger affinity for electric vehicles. In fact, 90% of respondents to a We Market Research poll from 2022 expressed strong consideration for purchasing an electric vehicle as their primary vehicle. From 70% in 2021, the consumer preference rate has increased globally.
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The market for electric vehicle charging equipment is mostly driven by the growing popularity of electric cars (EVs), and this trend is anticipated to have a favourable impact on the industry over the forecast period. The market for EVCEs is primarily being driven by the impressive increase in the use of electric vehicles. Governments around the world have pushed businesses and customers to switch from internal combustion engine vehicles to electric alternatives due to environmental concerns and technology improvements.
Market Competitive Outlook
BlinkCharging, AeroVironment Inc., ChargePoint, Inc., ClipperCreek, Inc., Chargemaster PLC, Eaton Corporation, Siemens AG, Tesla, Inc., SIGNET EV INC., Schneider Electric SE
Market Segmental Analysis
By Power Type
· AC Charging Station
· DC Charging Station
By Installation Type
· Portable
· Fixed
By Product
· Portable Charger
· EV Charging Kiosk
· Onboard Charging Station
· Others
By Charging Station Type
· Normal Charging
· Super Charging
· Inductive Charging
By Application
· Commercial
· Destination Charging Station
· Highway Charging Station
· Bus Charging Station
· Fleet Charging Station
· Others
· Residential
Country Scope
U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria
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Frequently Asked Questions
1. What will be the entire outcome of the worldwide market post-COVID-19 pandemic?
2. What are the key strategies adopted by the key market leaders to gain a comprehensive edge over the other prevailing competitors of the market over the prevised period of 2024–2033?
3. What will be the overall worldwide market condition in the next 6 to 7 years along with its rate of CAGR?
4. What are the keyways of figuring out an in-depth competitive analysis of the global market adequately at present as well as in the future?
5. What factors will influence demand and supply trends across each markets during the forecast period?
6. What are the technology trends shaping various markets?
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