Luton, Bedfordshire, United Kingdom, May 28, 2025 The New Energy Vehicle (NEV) charging infrastructure market is projected to grow significantly.
The market was valued at USD 16 billion in 2024 and is expected to reach USD 40 billion by 2034, with a Compound Annual Growth Rate (CAGR) of 10.3%. This growth is driven by increased EV adoption, government incentives, and advancements in charging technologies.
Market Growth: The NEV charging infrastructure market is set to expand from USD 16 billion in 2024 to USD 40 billion by 2034.
CAGR: The market will experience a Compound Annual Growth Rate of 10.3% between 2025 and 2034.
Key Drivers: Rising EV adoption, government policies, and technological advancements are fueling market growth.
Regional Dominance: Asia-Pacific is the largest regional market, contributing approximately 45% of total revenues in 2024.
Fastest Growth: North America is the fastest-growing region, with a projected CAGR of 15% through 2034.
The market is segmented by charging type, connector type, installation type, end-user, and vehicle type. DC Fast Charging is projected to capture up to 60% of total market revenue due to its ability to significantly reduce charging time.
CCS (Combined Charging System) holds about 52% global market share, dominating in North America and Europe. Public charging stations are expected to attract 70% of infrastructure investments globally, especially in urban centers and transit corridors.
Key players in the market include Tesla Inc., ChargePoint Holdings Inc., and ABB Ltd., among others. Tesla plans to debut its autonomous ride-hailing service in Austin, Texas, by June 2025, featuring Model Y vehicles.