The rising demand for electric vehicles and increasing investments made by governments across the globe to develop EV charging infrastructure is anticipated to propel the market during the forecast period. These investments create opportunities for Original Equipment Manufacturers (OEMs) to expand their revenue stream and geographical presence. Moreover, investments by companies for electrification are expected to fuel the growth of the EV charging station market.
The Electric Vehicle Charging Stations Market is segmented on the basis of product type, Applications, Technology, and region
Major Types of Electric Vehicle Charging Stations Market covered are:
- AC Charging Station
- DC Charging Station
Major Applications of Electric Vehicle Charging Stations Market covered are:
- Residential
- Commercial
Increasing concerns regarding environmental pollution, greenhouse gas, and the extensive use of renewable energy have led to the rising demand for alternatives transport solutions. Electric vehicles are eco-friendly and helps in reducing air pollution, thus leading to better air quality and fewer health problems. Moreover, electric vehicles are quieter than petrol/diesel vehicles, which ultimately reduces chances of noise pollution. Furthermore, EVs are cheaper to maintain as they have fewer moving parts as compared to conventional petrol/diesel vehicles that are composed of expensive exhaust systems, starter motors, fuel injection systems, and several other parts. All these factors are expected to propel the growth of the electric vehicle charging stations in the coming years.
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