Electric Vehicle Charging Station Market Share

APAC Market Statistics

The Asia Pacific electric vehicle charging station market is projected to hold the largest market share by the end of 2037, owing to the large production of electric vehicles in the region. China is the top producer of electric vehicles as per the International Energy Agency. The electric car registration rose from the year 2019 with almost 1000 thousand units to the year 2020 with around 1300 thousand units. Further, the large population in the region is expected to increase the demand for electric vehicles in the assessment period. The population in East Asia and the Pacific as per World Bank was 2.37 billion in 2021. Additionally, technological advancements, growth in Gross Domestic Level (GDP) along with the rise in disposable income are other factors that are anticipated to fuel the electric vehicle market size.

Europe Market Forecast

Additionally, the EV charging station market in the European region is also projected to grow rapidly over the forecast period owing to government initiatives to build charging infrastructure across the area are factors contributing to the high growth of this region. France, Germany, the Netherlands, Norway, and the United Kingdom are five of the region's leading nations for electric cars and charging stations. To encourage customers to adopt the new technology, the EU set a goal in 2021 of one million public charging stations for electric cars by 2024 and three million by 2029. Furthermore, the deployment of EV charging stations in the area is being sparked by several other European nations' targets to lower carbon emissions and expand the use of electric vehicles in the forecast period.