Gmi Research

 Electric vehicles (EVs) are rapidly becoming a dominant force in the global automotive industry, driven by the urgent need for environmentally friendly transportation options. This transformation is not limited to the vehicles themselves but extends to the infrastructure required to support them, particularly in the realm of EV chargers. The growth of the EV charger market is set to accelerate as EV adoption becomes more widespread in the coming years, with significant developments expected by 2031. The EV charger market is poised to witness substantial growth as both private and public sectors work to expand charging infrastructure to meet the rising demand. This market is vital in supporting the adoption of electric vehicles by ensuring that consumers have access to fast and convenient charging solutions. By 2031, we can expect a more extensive network of charging stations, including residential, commercial, and public charging points, making it easier for EV owners to charge t...

  The EV Charger Market is expected to reach USD 32 billion by 2028, expanding at a CAGR of 27.2% over the forecast period (2021-2028). The factors driving growth of the EV Charger Market includes growing concerns related to greenhouse gas emissions and climate change, rising demand for energy efficient and low-carbon transportation systems around the world, Government policies promoting the adoption of electric vehicles and improvements in the living standards. Moreover, technological advancements in charging infrastructure, growing prevalence of respiratory and other diseases, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the EV Charger Market size . In addition, the increasing investments by major companies on research and development and growing population growth rates, are further contributing towards the market growth. However, growth of the EV Charger Market is hindered attributed to high prices of elec...