Rising concern over environmental pollution increasing the penetration of electric vehicles

Date: 15 April 2020

According to a research report published by Azoth Analytics in March 2020, North America Electric Vehicle Charging Station Market was valued at USD 1169.7 Million in the year 2019. Key factors responsible for the regional demand of electric vehicles charging infrastructure include growing demand for electric vehicles in addition to favorable government initiatives in the form of subsidies, generous incentives and rebates. At the same time, tightening fuel economy standards is likely to propel the automobile electrification process in North America. 

Developed countries in the region including U.S.A and Canada have a highly advanced charging infrastructure stipulating heavy investments in research and development of electric vehicle service equipment as well as EVs. 

Surging concerns over pollution caused by vehicles has been supporting the demand for electric vehicles in the United States, Of late, U.S has been witnessing considerable growth in electric vehicle  with EV manufacturing companies like Tesla, Nissan and Ford promoting and expanding their respective production line to satisfy the growing demand for electric vehicles among consumers in the country. 

Owing to the rising concern over environmental pollution, the penetration of electric vehicles has been escalating considerably. This trend is expected to continue in the coming years as well.

Compared to conventional Internal Combustible Engine (ICE) vehicles, there are very few varieties of electric models available in the market, which is restraining the market growth. Additionally, high prices of electric vehicle is another challenging factor for the regional market growth. 

Currently, the electric vehicle charging station market is being led by a few automobile manufacturing giants such as Tesla, Inc., ABB, EVgo, Blink Charging, ClipperConnect, Inc., etc. However, with the rapidly rising popularity of this electrification technology, many more industry frontrunners are anticipated to enter the market with their own variation of products, which will further facilitate the market growth rate.

The Azoth Analytics research report on NorthAmerica Electric Vehicle Charging Station Market (2020 Edition) has analysed and segmented the Electric Vehicle Charging Station Market. The report has further analysed the Electric Vehicle Charging Station Market by Vehicle Type (Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle), by Equipment (Hardware and Software), by charger Type (Slow and Fast Charger)- by slow Charger Sub Type (Level 1 AC Charger and Level 2 AC Charger) and by Fast charger Sub Type (Level 3 AC Tri-phase and Level 3 DC Tri-phase) and By Country (United States, Canada, Mexico) for the historical period of 2015-2019 and the forecast period of 2020-2025.