The global electric vehicle (EV) charging station market is poised to grow by $22.02 billion between 2021 and 2025, representing an annual growth rate of 31 percent.
According to a report listed on ResearchAndMarkets.com, the market is driven by the increasing number of M&A and strategic partnerships and government subsidies and incentives. The study also identifies declining prices of lithium-ion batteries as one of the prime drivers of market growth during the next few years.
The report also provides a detailed analysis of several leading electric vehicle charging station market vendors, including ABB Ltd., ChargePoint Inc., ENGIE SA, EV Safe Charge Inc., EVgo Services, Leviton Manufacturing Co. Inc., Schneider Electric SE, Siemens AG, Tesla Inc., and Webasto SE.
The report also includes information on upcoming trends and challenges that will influence market growth.
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