North America Electric Vehicle (EV) Charging Station Infrastructure Market New Opportunities 2029
Research Nester published a report titled “North America Electric Vehicle (EV) Charging Station Infrastructure Market: Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the North America electric vehicle (EV) charging station infrastructure market in terms of market segmentation by type of charging station, level of charging, type of charger, connector type, and by application.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The North America electric vehicle (EV) charging station infrastructure market is segmented by level of charging into level 1, 2, 3, and DC fast charging, out of which, the level 2 charging segment is projected to hold the largest market share by the end of 2021, backed by the increasing availability of this charger type when compared with the other type of chargers. The level 2 chargers are equipped with advanced technology which helps to provide a faster charging speed than level 2 charger. These chargers also connect to the same connector which are used for level 1 charging equipment. In the U.S. and Canada, there are 42,690 publicly available stations and 93400 charging outlets with level 2 charger types, according to the statistics by the Alternative Fuels Data Center (AFDC) of the U.S. Department of Energy (DOE).
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The North America electric vehicle (EV) charging station infrastructure market is projected to exhibit a significant CAGR during the forecast period, i.e., 2021-2029, owing to the growing demand for electric vehicles in nations such as the United States and Canada, and therefore the need to develop a well-developed smart charging infrastructure system to charge these vehicles. In the year 2019, as per the statistics of the Transportation Research Center at the Argonne National Laboratory, the sales of Electric Vehicles in the United States touched 242,000 in 2019 from 10,100 vehicles in 2011. Additionally, in the U.S. and Canada, there are a total of 47,673 publicly accessible EV charging stations, along with 114,958 charging outlets, as stated by the AFDC.
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Rising Need for a Well-Developed EV Charging System
Backed by the increasing number of electric vehicles in nations such as the United States and Canada, there is a growing need for the deployment of publicly accessible EV chargers for different connector types to charge these vehicles. EVs are designed to run up to around 150kms at a single full charge. To help these vehicles travel throughout the region and to support environmental sustainability and promote green transportation, the government of the nations in the region are increasingly raising their investments to develop the infrastructure and deploy the charging stations by keeping a minimal distance of around 50kms between the two stations. Such initiatives are anticipated to create numerous opportunities for the growth of the market during the forecast period.
However, the high cost of these systems is expected to operate as a key restraint to the growth of North America electric vehicle (EV) charging station infrastructure market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the North America electric vehicle (EV) charging station infrastructure market which includes company profiling of Leviton Manufacturing Co., Inc., SemaConnect Inc., Schneider Electric (EPA: SU), Siemens USA (ETR: SIE), Tesla, Inc. (NASDAQ: TSLA), Shell Group of Companies (AMS: RDSA), Blink Charging Co. (NASDAQ: BLNK), Webasto Group, ChargePoint, Inc. (NYSE: CHPT), and ABB Ltd. (SWX: ABBN). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the North America electric vehicle (EV) charging station infrastructure market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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