30 Mar '16, 7am

Global EV Charging Station Market to Witness 52% CAGR by 2022

The global electric vehicle charging station market grew from an estimated $1.6 billion in 2015 and is expected to reach almost $30 billion by 2022 growing at a CAGR of 51.7% during 2016 – 2022, according to a new report from P&S Market Research. The global market is categorized into AC and DC charging stations based on the source of EV charging . DC charging stations are comparatively costlier than its AC counterpart, which is why the market share of AC charging station in terms of volume is much higher, as compared to that in terms of value. The demand for EV charging stations in public sector has been increasing. There are primarily two types of alternating current (AC) charging stations, such as level 1, and level 2. The level 1 charger has low charging rate and takes several hours to completely charge an electric vehicle. They are mostly used in residential sector. Th...

Full article: http://electriccarsreport.com/2016/03/global-ev-charging-...

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