As of 2024, the global electric vehicle market is booming. According to recent reports, EV sales are expected to surpass 10 million units annually by 2025, with countries like China, the U.S., and the EU leading the charge. As the number of electric vehicles on the road increases, so does the demand for reliable and accessible EV charging infrastructure.
EV charging is a key component of the electric vehicle ecosystem. Without a robust network of charging stations, the adoption of EVs would be severely hindered. This is where the opportunity for profit lies.
1. Market Growth and Demand
The market for EV charging stations is projected to grow exponentially in the coming years. The global EV charging infrastructure market is expected to grow from $5 billion in 2023 to over $20 billion by 2030. With electric vehicles expected to account for 30% of global car sales by 2030, the need for charging infrastructure will only increase.
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