Electric Vehicle Charging System Market Trends, Size, Growth, Challenges and Forecast 2029

Climate change, pollution, and related environmental concerns are impacting energy consumption patterns across the globe. The switch to electric battery-powered vehicles, simply known as electric vehicles (EVs), is allowing governments, automotive market stakeholders, and environmental agencies to cut tail-pipe emissions and limit air pollution in urban environments. Many efforts are being made to make EVs more accessible, some of them include subsidies, support for battery tech R&D, and tax waivers. This is boosting the sales of EVs, as noted by International Energy Agency (IEA), global EV sales almost doubled in 2021 as compared to 2020 and reached a record high of 6 million figure. Such growth in sales is creating a demand for robust charging infrastructure, which in turn, is propelling the global electric vehicle charging system market to greater heights.

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