The global EV charging station market reached $2018.53 billion in <>

According to Markets and Markets' latest market report, the global EV charging station market will grow from $5.
3 billion in 2018 to $30.
41 billion in 2023, with a CAGR of 41.
8%
during the period.

The global EV charging station market reached $5.
3 billion in 2018

Key factors such as government funding, subsidies, and incentives, growing demand for electric vehicles, growing concern about environmental pollution, and significant investments by EV manufacturers are driving the growth of the global EV charging stations market
.

By type, DC charging stations will account for the largest share of the market

Compared to AC charging stations, DC charging stations are able to charge electric vehicles in a shorter period of time, which is also the main driver
of the high growth rate of DC charging stations.
Moreover, the growing popularity of public charging stations is driving the demand for
DC charging stations.
Automakers are planning to invest in DC fast charging networks to support the introduction of long-range battery electric vehicles
.

By application, commercial facilities will account for the largest share of the market

The addition of charging stations in public places such as shopping malls, commercial buildings, airports, and restaurants is a major factor
driving the growth of commercial applications.
The convenience of using EV chargers during shopping or office hours is expected to drive the adoption
of EVs.
In addition, the installation of public barrier-free charging stations such as tax credits provided by the government will drive the commercial installation
of charging stations.

By region, Asia Pacific accounted for the largest market share in 2017

Most EV charging station deployments in Asia Pacific are driven
by huge demand from countries such as China and Japan.
Currently, Asia Pacific is the largest market
for EV charging stations in the world.
South Korea and India are taking steps to reduce greenhouse gas emissions
by increasing the use of electric vehicles.
For example, India, one of the largest emitters of greenhouse gases, has pledged to phase out petrol and diesel vehicles
by 2030.
This initiative by the Indian government will drive the huge demand
for electric vehicles and electric vehicle charging infrastructure across the country.
In addition, in September 2017, the Indian government decided to purchase 10,000 electric vehicles from Tata Motors to replace old petrol and diesel vehicles
used by government agencies.
Meanwhile, last September, the Singapore government launched its first large-scale electric vehicle sharing scheme
.
According to the plan, BlueSG (Singapore), a subsidiary of the Bolloré Group, will install 500 charging stations in Singapore with 2,000 charging points
.

The major players in the global EV charging station market are ChargePoint (US), ABB (Switzerland), Tesla (US), Engie (France), and Aviation Environment (US).

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