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 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 electric vehicle charging station, also known as the electric vehicle supply equipment (EVSE), is a device that transfers electricity from the power grid and distributes it to electric vehicles such as battery electric vehicles, plug-in hybrid electric vehicles, and hybrid electric vehicles.

Government initiatives to promote the use of electric vehicles and related infrastructure, rising demand for electric vehicle fast-charging infrastructure, an increase in the prevalence of range anxiety, and increased use of EVs by shared mobility operators are the main factors influencing the growth of this market. Shifts in consumer purchasing behaviour caused by pandemic uncertainty are expected to have a significant impact on the industry's near-term growth.

Meanwhile, the shortfall and cash crunch have already had an impact on fleet operators' sales, which are expected to worsen in the coming months. Automobile manufacturers in North America are facing a major demand setback as a result of stringent federal, state, or provincial, and local regulations restricting travel and social interactions.

North America Electric Vehicle Charging Stations Market is poised to grow at a sustainable CAGR for the next forecast year.