With the government increasing its commitment to support electric vehicles through tax breaks and infrastructure investment, more companies are investing in the electric vehicle charging market. While most EV charging market predictions are strong, there have been some bearish forecasts. There is talk of electric vehicle adoption slowing, but this slowing seems temporary due to rising costs and inflation. Despite this, the US Department of Energy (DOE) recognizes that the electric vehicle charging market is essential for economic growth, job creation, and energy security.
Our latest report, The State of EV Charging Market 2023, provides a comprehensive market analysis of this rapidly-evolving sector in the United States.
Sales estimations is a key data point explored in this report. With electric vehicle sales expected to increase drastically over the next few years, the ecosystem for EV charging, including infrastructure, home charging, and charging stations, will also grow exponentially. In September 2022, the Biden administration announced Electric Vehicle Infrastructure Deployment Plans for the nation, which includes $1.5 billion for the construction of EV chargers covering approximately 75,000 miles of highway. The announcement is part of the National Electric Vehicle Infrastructure Formula Program which will ultimately make $5 billion available for EV infrastructure over the next five years.
Presented here is a sample of one of several comprehensive graphs illustrating the information analyzed in our report. This preview focuses on the growth of electric vehicle charging infrastructure in various regions and states, with data projections up to FY 2026. It offers valuable insights into the potential growth opportunities in the industry.
This 61-page report provides a state-by-state analysis of EV charging infrastructure investment to strategically allocate resources for regional growth and development. Additional data points include:
The electric vehicle revolution is undeniably here, and The State of EV Charging Market 2023 Analysis Report is an essential tool for anyone seeking to be involved in this groundbreaking industry.
If you’re an investor, business professional, or simply passionate about electric vehicles, this report offers valuable insights and data to help you navigate and thrive in the rapidly growing EV charging market.
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