North America EV Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Platform (Hardware and Services), Hardware (AC Charger and DC Charger), Charger Type (Public Chargers and Private Chargers), and IEC Mode (2, 3, an

North America EV Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Platform (Hardware and Services), Hardware (AC Charger and DC Charger), Charger Type (Public Chargers and Private Chargers), and IEC Mode (2, 3, and 4)

The North America EV charging infrastructure market is expected to grow from US$ 1,472.90 million in 2021 to US$ 3,275.41 million by 2028. It is estimated to rise at a CAGR of 12.1% from 2021 to 2028.

The rising concerns about the transportation sector's impact on the environment have led to an unprecedented requirement of decarbonizing transportation to meet climate goals and limit global warming, thereby increasing the adoption of low carbon technology in the transportation sector. A shift in consumers toward zero-emission vehicles has also resulted in a significant increase in the demand for light-duty passenger vehicles across the region. The share of new passenger EVs across the region has risen at an average of nearly 50% per year since 2015. In 2021, the sales of electric vehicles surged by 160% in these top three markets. Additionally, the ever-rising demand for electric vehicles is fueled by massive investments made by automotive giants in the research, development, and production of electric vehicles. For instance, General Motors, Volkswagen, Volvo, BMW, Nissan, and Audi confirmed the plan to invest collectively approximately US$ 150 billion in manufacturing electric vehicles and launch new models throughout 2020-2021. Furthermore, with the fall in prices of EVs and the availability of a greater number of models, electric vehicle production is set for exponential growth in an increasing number of countries, subject to their overall economic development and policy support from the government. According to estimations by experts, over 50 million electric vehicles are likely to be running on roads in the next five years, thereby making the installation of future-proof charging infrastructure a key to scaling the industry. The need for high-power commercial DC fast chargers to power the large batteries deployed in heavy-duty electric vehicles is further boosting the market. Therefore, with the massive surge in the uptake of electric vehicles, the EV charging infrastructure is being driven by a rise in demand and production, thereby driving the North America market.

The enactment of lockdowns and travel restrictions, shutdown of production facilities, and the shortage of employees had slowed down the performances of major players in the mobility and transportation industry in North America. Although the US notably witnessed the most severe impact of the COVID-19 outbreak in the first half of 2020, the country witnessed a tremendous rise in EV sales throughout the second half of 2020 and during 2021. The data from secondary research suggests that EV sales increased nearly 200% in the US between the Q2 of 2020 and Q2 of 2021, accounting for a domestic penetration rate of 3.6 percent during the post-pandemic period. Various industry players have been developing and implementing charging infrastructure solutions to provide strong charging support to the massive influx of electric vehicles on the roadways in the region. For instance, General Motors and EVgo expanded their build plan across the US to add 500 high-powered DC fast-charging stations. Furthermore, as the electrification of vehicles, including trailers, trucks, and transit buses, becomes prevalent and an ongoing trend of electric cars, traversing the route efficiently also requires a resilient EV charging infrastructure along the highway. The market is gaining momentum due to the infrastructural readiness of North America and the massive demand for EV charging infrastructure to cater to the significant volume of electric vehicles in the region.

With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America EV charging infrastructure market at a remarkable CAGR during the forecast period.

North America EV Charging Infrastructure Market Revenue and Forecast to 2028 (US$ Million)

North America EV Charging Infrastructure Market Segmentation

North America EV Charging Infrastructure Market - By Platform

Hardware Services North America EV Charging Infrastructure Market - By Hardware

AC charger Level 1 Charger (120 V) Level 2 Charger (240 V) DC Charger North America EV Charging Infrastructure Market - By Charger Type

Public Chargers Private Chargers North America EV Charging Infrastructure Market - By IEC Mode

2 3 4North America EV Charging Infrastructure Market, by Country

US Canada Mexico North America EV Charging Infrastructure Market - Companies Mentioned

Blink Charging Co. BP p.l.c. Charge Point, Inc. Delta Electronics, Inc. EVBox EVgo Inc. RWE AG Tesla, Inc. Tritium Webasto Group

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