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Global Electric Vehicle Charging Station Infrastructure Market Set for Exponential Growth at a CAGR of 18.5%, Predicted to Reach US$ 8,005.5 Million by 2029

The Global Electric Vehicle Charging Station Infrastructure Market is on the brink of remarkable expansion, with a projected valuation of US$ 8,005.5 million by 2029, up from US$ 2,384 million in 2022. This robust growth trajectory is characterized by a significant Compound Annual Growth Rate (CAGR) of 18.5% during the period from 2023 to 2029. The report takes into account various influential factors, including economic conditions, the lasting effects of the COVID-19 pandemic, and geopolitical developments such as the Russia-Ukraine War.

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The Backbone of Electric Mobility: Charging Stations Electric Vehicle Charging Stations, also known as EV charging stations, are a critical component of the infrastructure designed to provide electric energy for recharging electric vehicles (EVs), including electric cars, neighborhood electric vehicles, and plug-in hybrids.

Key Drivers: Global electric vehicle sales have maintained their momentum, with a total of 10.5 million new Battery Electric Vehicles (BEVs) and Plug-in Hybrid Electric Vehicles (PHEVs) delivered in 2022, representing a remarkable increase of 55% compared to 2021. China and Europe have emerged as the primary drivers of this substantial growth in global EV sales. In 2022, China produced 7.0 million new energy vehicles and sold 6.8 million, marking year-on-year increases of 96.9% and 93.4%, respectively, with a market share of 25.6%. These figures position China as the global leader in new energy vehicle production and sales for eight consecutive years. Furthermore, sales of pure electric vehicles in Europe in 2022 surged by 29% year-on-year, reaching 1.58 million units.

Key Market Players: Prominent companies operating in the Electric Vehicle Charging Station Infrastructure industry include ABB, BYD, Xuji Group, TELD, Star Charge, Chargepoint, Webasto, Efacec, Leviton, Siemens, IES Synergy, Pod Point, Auto Electric Power Plant, DBT-CEV, Clipper Creek, Schneider Electric, Nitto Kogyo, Panasonic, Toyota Home, and Kawamura Electric.

Market Segmentation:

By Type: AC Charging Stations, DC Charging Stations

By Application: Residential Charging, Public Charging, Others

The report, founded on historical analysis (2018-2022) and forecast calculations (2023-2029), is designed to provide readers with a comprehensive understanding of the global Electric Vehicle Charging Station Infrastructure market from multiple angles, supporting their decision-making processes and strategies.

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