Electric Vehicle Charging Infrastructure Market Size, Share, Revenue, Business Growth, Demand And Applications To 2027 Electric Vehicle Charging Infrastructure Market Report provides in-depth analysis of industry by production, share, size, Demand, Proposition, Development, Opportunities, Growth, Economic Trends, Technologies Research, Segmentation, Key Futuristic, Investment Feasibility, Major Key Players, SWOT analysis and Forecast.
The global Electric Vehicle Charging Infrastructure Market size is anticipated to touch USD 111.75 billion by the end of 2027, according to a new report by Million Insights. The market is projected to grow at with 32.0% CAGR from 2020 to 2027. Growing focus on developing infrastructure for electric vehicles is projected to drive the growth of the market. Different government bodies are collaborating with others to develop electric charging station across highways. For example, the Department of Transpiration of Washington State collaborated with Oregon’s Department of Transportation for construction of 57 electric vehicles charger across Washington and Oregon. Key original equipment manufacturers such as Enel X, Ecotap BV and Delta Electronics, Inc. among others are developing solar-powered charging stations. For example, Enel X is working with Hawaii (U.S) to develop a solar-powered electric charging station. Further, many companies are upgrading their Electric Vehicle Supply Equipment (EVSE) to ease long-distance travel.
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Electric vehicles are recharged at several locations like at residence, private charging station and at commercial set-ups. However, residential charging doesn’t provide sufficient backup and consumers often face problems during a long-distance trip. Owing to this, a large number of the consumer base is discouraged