Absolute Markets Insights: global EV charging station market will grow by 29% CAGR till 2027

5 June 2019, 12:21:18

Absolute Markets Insights forecasts a 29% increase in terms of revenue of the global EV charging station market during the 2019-2027 period. This growth is a direct result of the growth EV sales. The latter increases due to several factors: 1) government subsidies and tax credits; 2) minimum operating and maintenance cost; 3) increasing consumer awareness regarding the environmental benefits. The rise of fuel prices is yet another incentive to wider EV adoption.

In its report, Absolute Markets Insights does give insight on this specific market. The largest share belongs to DC charging stations, followed by Level 2 AC charging. From all DC fast charging stations, the CHAdeMO type has been registered as having the largest share. The fastest growth will be registered in the Asia Pacific region. The main market players are Schneider Electric SE, Eaton Corporation PLC, Engie SA, ABB Group and General Electric Company.Source

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