United States Electric Vehicle Charging Infrastructure (EVCI) Market to Grow at a CAGR of 39.9% During 2024-2032, Aided by Rising Sales of EVs

The competition to promote the adoption of electric vehicles (EVs) is intensifying, driven by growing consumer enthusiasm, significant commitment from automakers, and increased government investments, aiding the United States electric vehicle charging infrastructure (EVCI) market growth.

The 2021 Infrastructure Investment and Jobs Act injected substantial support into electric transportation, earmarking USD 7.5 billion for EV charging infrastructure. The comprehensive objective is to deploy 500,000 public chargers, which are accessible to all types of vehicles and technologies, across the nation by the year 2030.

Anticipated technological advancements, such as the development of rapid charging capabilities and extended vehicle range, are expected to transform the U.S. automotive industry in the coming years. The adoption of electric vehicles (EVs) in the United States is being driven by several key factors, including the emergence of autonomous vehicles and the expansion of shared mobility services. These trends have a profound impact on EV sales, underscoring the increasing demand for robust charging infrastructure across the country to support the growing EV market.

Many automakers are entering agreements to utilise Tesla's (NASDAQ: TSLA) electric vehicle charging infrastructure throughout the United States. This development is bringing Tesla's superchargers closer to becoming the industry standard. Notably, Texas has recently taken a significant step by mandating that EV charging companies must incorporate Tesla's plug-in in their offerings if they wish to qualify for federal funds, further solidifying Tesla's role in shaping the charging landscape for electric vehicles.

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Market Breakup by Charger Type, Connector, Application, and Region:

• The market is segmented based on charger type into slow chargers and fast chargers.

• Based on connector, the market is categorised into CHAdeMO and combined charging system (CCS), among others.

• Based on application, the market is segmented into commercial and residential.

• Region-wise, the market for electric vehicle charging infrastructure (EVCI) includes New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.

Key Findings of the Report:

• The United States electric vehicle charging infrastructure (EVCI) market expansion can be attributed to increasing efforts made by both public and private sectors to promote the adoption of electric vehicles (EVs).

• These initiatives have not only stimulated sales of electric vehicles but also have played a crucial role in raising consumer awareness about the advantages of utilising these vehicles.

• The introduction of favourable government initiatives aimed at boosting the deployment of charging infrastructure is positively impacting the market expansion.

• The development of technologies like portable charging stations, smart charging with load management, automated payment technology, and bi-directional charging is expected to create growth opportunities for the market in the forecast period.

Key Offerings of the Report:

• The EMR report gives an overview of the United States electric vehicle charging infrastructure (EVCI) market for the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the charger types, connectors, applications, and major regions of electric vehicle charging infrastructure (EVCI).

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models, and value chain analysis of the EVCI market.

The major players in the United States electric vehicle charging infrastructure (EVCI) market are ChargePoint, Inc., AeroVironment Inc., General Electric Company, Leviton Manufacturing Co., Inc., SemaConnect, Inc., and Tesla, Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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