What is the global market size of the North America Electric Vehicle Charging Stations Market?

North America Electric Vehicle Charging Stations Market size was valued at USD 426.88 million in 2021 and is poised to grow from USD 627.94 million in 2022 to USD 13766.38 million by 2030, growing at a CAGR of 47.1% in the forecast period (2023-2030).

North America Electric Vehicle (EV) Charging Stations Market Size, Share, Growth Analysis, By Technology(level 1, level 2 and level 3), By Vehicle type(battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV)), By Region - Industry Forecast 2024-2031

Report ID: SQMIR20D2249 | Region: Regional | Published Date: April, 2024
Pages: 202 | Tables: 60 | Figures: 75

North America Electric Vehicle (EV) Charging Stations Market Dynamics

North America Electric Vehicle Charging Stations Market Drivers

Rise of Electric Vehicle Sales to Bolster Market Growth

One of the key factors propelling the growth of the market for electric vehicle charging stations is the rise in the number of electric vehicle (EV) sales in the area. Due to growing environmental concern, customer preference is quickly shifting toward passenger and commercial electric vehicles (EV).

The market is growing faster thanks to rising technical improvements like the Internet of Things (IoT) and real-time information solutions being integrated into all-EV charging station systems. The technologies find nearby charging stations and offer real-time data on the number of open places.

North America Electric Vehicle Charging Stations Market Restraints

Lack of Standardization to Hinder Market Growth

Market expansion is anticipated to be hampered by the inadequate standardisation of charging infrastructure and the outdated power grid infrastructure.

In the forecast period, it is anticipated that the market for electric vehicle charging stations would face challenges due to the high initial cost of EVs compared to ICE vehicles and strict regulations for the installation of EV charging stations.

North America Electric Vehicle (EV) Charging Stations Market Report Snapshots

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North America Electric Vehicle (EV) Charging Stations Market size was valued at USD 1.89 billion in 2022 and is poised to grow from USD 2.49 billion in 2023 to USD 22.84 billion by 2031, at a CAGR of 31.9% during the forecast period (2024-2031).

The report includes a competitive landscape based on a thorough examination of the key strategies employed by the market's leading players in the North America electric vehicle charging stations market. The presence of numerous local, regional, and global vendors characterises the global electric vehicle charging station market. The market for electric vehicle charging stations is highly competitive, with all players constantly competing for a larger market share. 'Tesla, Inc.', 'ChargePoint, Inc.', 'Electrify America LLC', 'SemaConnect, Inc.', 'EVgo Services LLC', 'Blink Charging Co.', 'Greenlots (a member of the Shell Group)', 'Webasto Charging Systems, Inc.', 'Siemens AG', 'Leviton Manufacturing Co., Inc.', 'AeroVironment, Inc.', 'Delta Electronics, Inc.', 'Schneider Electric SE', 'ClipperCreek, Inc.', 'Enel X', 'eMotorWerks', 'Chargefox Pty Ltd', 'FLO | AddEnergie', 'Ionity GmbH', 'Electrify Canada'

One of the key factors propelling the growth of the market for electric vehicle charging stations is the rise in the number of electric vehicle (EV) sales in the area. Due to growing environmental concern, customer preference is quickly shifting toward passenger and commercial electric vehicles (EV).

Top charging station manufacturers and network operators are increasing the availability of both private and public EV chargers. New safety measures were taken by the government and major industry players to advance production techniques. The correct audience was targeted by technological developments, which increased charging's sales rate. In the post-pandemic environment, the increased sales of electric vehicles are anticipated to further fuel market expansion.

According to estimates, the United States will account for the largest share of the North American electric vehicle charging station market in 2022. The country's large market share is primarily due to actions taken by local and state governments, as well as utility stakeholders, to reduce consumer barriers regarding policies, grants, and incentives for EVs and charging stations. During the forecast period, Canada is expected to have the fastest market growth rate in terms of value. The country's rapid market growth can be attributed to the government's and manufacturers' increasing efforts to develop electric vehicle charging infrastructure.

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North America Electric Vehicle (EV) Charging Stations Market Size, Share, Growth Analysis, By Technology(level 1, level 2 and level 3), By Vehicle type(battery electric vehicles (BEVs) and plug-in hybrid electric cars (PHEV)), By Region - Industry Forecast 2024-2031

North America Electric Vehicle (EV) Charging Stations Market Dynamics

North America Electric Vehicle (EV) Charging Stations Market Report Snapshots

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