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DC Fast Electric Vehicle Charging Station Market Size
- Report ID: GMI5785
- Published Date: May 2023
- Report Format: PDF
DC Fast Electric Vehicle Charging Station Market Size
DC Fast Electric Vehicle Charging Station Market size surpassed USD 17.6 billion in 2023 and is anticipated to grow at 30.9% CAGR from 2024 to 2032, driven by the growing need for fast EV charging infrastructure.
The rising adoption of electric vehicles along with growing consumer inclination towards minimizing EV battery recharging time has increased the demand for DC fast electric vehicle charging stations. As per the IEA’s annual Global Electric Vehicle Outlook, over 10 million electric car sales were reported in 2022, which are expected to grow by around 35% in 2023 to hit 14 million units. Increasing investments by the government for EV charging hubs are further creating a broad scope for industry growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| DC Fast Electric Vehicle Charging Station Market Size in 2023: | USD 17.6 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 30.9% |
| 2032 Value Projection: | USD 201.9 Billion |
| Historical Data for: | 2019 to 2023 |
| No. of Pages: | 325 |
| Tables, Charts & Figures: | 428 |
| Segments covered: | Charging Type, Charging Site |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Despite an expanding scope for growth, steep installation and product cost may limit the deployment of DC fast EV charging hubs in some countries. Additionally, the lack of policies and standards for the implementation of EV infrastructure in low and middle-income economies is presenting barriers to industry growth. However, many countries are working on developing more economical public electric vehicle charging stations, which may create a favorable environment for DC fast electric vehicle charging station market development.
Frequently Asked Questions (FAQ) :
DC Fast Electric Vehicle Charging Station Market Scope
