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EV Fast Charging Infrastructure Market

EV Fast Charging Infrastructure Market Will Advance at a 21.7% CAGR


The EV fast charging infrastructure market will reach USD 18,909.8 million, growing at a 21.7% CAGR, by 2030. The growth of this industry is primarily because of the mounting sales of EVs all over the world, as a result of the surging necessity for zero-emission transport.


Additionally, bidirectional charging, portable charging stations, usage-based analytics, smart charging with load management, ultra-fast charging, and automated payments technology are likely to offer profitable opportunities in the industry.


                 


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Moreover, the CHAdeMO category accounted for a significant share of the industry, in the past few years. This can be primarily attributed to the easiness and compatibility of CHAdeMO connectors with most EVs. Moreover, as this type of connector only necessitates a single outlet for charging, it offers freedom of design for EVs.


In recent years, the public category, based on application, held the larger EV fast charging infrastructure market share, and it will also propel at approximately 22% CAGR in the years to come. This can be because of the extensive introduction of public fast chargers to smooth the acceptance of EVs.


APAC led the industry in recent years, and it will further advance at a significant rate, of approximately 22.0%, in the years to come. This can be because of the robust fondness for clean transport in the continent, which delivers the network operators with various sets of prospects.


The need for EV fast chargers in North America will surge significantly in the years to come. This can be mainly attributed to the increasing efforts of the government to enhance the infrastructure of charging in the continent.


With the mounting sales of electric vehicles all across the globe, the EV fast charging infrastructure industry will continue to flourish in the years to come.