The U.S. electric vehicle charging infrastructure market is expected to reach USD 4.37 billion by 2025 as a result of increasing demand from widespread applications owing to its features such as high quality, cost effective, and Eco-friendly. U.S. government and the insurance companies are taking efforts to promote the sell and usage of EVs. For instance, tax benefits are provided to the customers at the time of purchase. Furthermore, countries like France and UK are offering discounts on insurance and bonus on payments to EV buyers. With the increase in the number of sale of EV vehicles, need for supporting charging infrastructure is also expected to grow which is anticipated to aid in the growth of this market over the foreseeable future.
U.S. EV charging infrastructure comprises dedicated setups installed for charging vehicles, powered by an electric engine. The growth of this market is marketed majorly by initiatives taken and investments made by the U.S. governments for developing electric vehicle enabled infrastructure throughout the country. For instance, the initiatives involved building of free as well as paid charging spots in parking areas and other important road corridors.
The growing concerns for curbing the levels of carbon emission and other harmful gasses are some of the factors compelling the adoption of Electric Vehicles (EVs). Moreover, increasing demand for EV- enabled infrastructure is one of the requirements, which is further promoting the adoption of EVs.
Growing concerns of carbon emissions in many metropolitan cities have been facing smog and air quality issues which can result in respiratory diseases. The increasing levels of carbon emission in the environment are promoting the adoption of electric vehicles that they are environment-friendly and do not emit tailpipe pollutants. These factors imply the growth of the U.S. electric vehicle charging infrastructure market.
In the United States, insurance companies are providing discounts on insurance policies to customers and utility companies are offering low electricity rates. Also, there are few states that are offering credits to electric vehicle manufacturers and buyers for their costs and purchase of charging equipment.
Government is providing attractive subsidies and tax credits on the purchase of EVs in order to promote the adoption of Electric Vehicles (EVs). In addition, the development of supporting infrastructure at public places is necessary and is expected to further propel the segment growth, as overnight charging or charging at homes would not be sufficient.
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Hexa Research has segmented the U.S. electric vehicle charging infrastructure market report based on type, connector and application
Segmentation by type
• Slow Chargers
• Fast Chargers
Segmentation by Connector
• Combined Charging System (CCS)
Segmentation by application
Key players analyzed:
• ChargePoint, Inc.
• AeroVironment Inc.
• General Electric Company
• Leviton Manufacturing Co. Inc.
• SemaConnect, Inc.
• Tesla Motors, Inc.
• ClipperCreek, Inc.