Global EV Charging Infrastructure Market
EV Charging Infrastructure Market size is estimated at USD 42 billion in 2024 and is anticipated to cross USD 165.1 billion by the end of 2037, expanding at more than 32.9% CAGR during the forecast period, i.e., 2025-2037. In 2025, the industry size of EV charging infrastructure is assessed at USD 54.1 billion.
The EV charging infrastructure market is growing due to the increasing adoption of electric vehicles and supportive government policies. For instance, in January 2024, the U.S. government allocated USD 623 million in infrastructure investment toward EV charging infrastructure. This indicates a growing support to enhance the accessibility of EV charging. Additionally, regulatory frameworks and standards are being established to ensure the safety, reliability, and interoperability of the charging infrastructures. The collective efforts by governments and industry stakeholders are driving the prospects of the EV charging infrastructure market.
Businesses are investing aggressively to promote the expansion of their charging networks and product innovation to take advantage of the growth in the market. For instance, in June 2024, ChargePoint and LG Electronics partnered with integrated hardware and software-based solutions to execute EV recharge. Other firms are forming strategic partnerships to share expertise and resources toward expanding the network. The R&D investments are also testing cutting-edge technologies and charging features that answer EV owners' diverse requirements.
Author Credits: Saima Khursheed
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