China Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029

China's electric vehicle charging stations market is anticipated to expand at a CAGR of 38.52% to attain US$58,151.883 million by 2029 from US$11,403.475 million in 2024.

An EV (electric vehicles) charging station is a hub or center that offers charging solutions to these vehicles. This links an EV to a power source, allowing electric vehicles, like passenger cars, two/three wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to grow significantly in China, mainly with the increasing ownership of electric vehicles and the introduction of new policies and investment plants to boost the nation's EV infrastructure.

The increasing demand for electric vehicles nationwide is anticipated to boost the Chinese electric vehicle charging station market. With this increased demand, the need for suitable and efficient infrastructure will rise, pushing the market growth. Similarly, the Chinese electric vehicle charging station market is also estimated to witness a massive increase with the introduction of new policies and governmental initiatives, which are aimed at developing the EV infrastructure and ecosystem in the country.

China Electric Vehicle Charging Stations Market Drivers:

• The rising demand for Electric Vehicles

The rising advent of EVs is boosting the region's electric vehicle charging station market. The demand for electric vehicles has grown significantly due to developments and the introduction of new technologies. Similarly, the extensive growth in the nation's EV production is also expected to propel the market for EV charging stations forward in China.

The International Energy Agency (IEA), in its report, stated that China's EV sales reached 8.1 million in 2021. The total number of battery electric vehicles sold in China in 2021 was recorded at about 3.3 million, which expanded further to 6 million in 2022. China is also among the leading producers of electric vehicles globally. The electric vehicle stock in China has grown massively in the past few years. The agency stated that in 2021, the total electric vehicle stock of China was recorded at about 6.2 million, reaching 10.7 million in 2022. In 2023, the total EV stock almost doubled from 2021, reaching about 16.1 million units.

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Report Coverage:

• Historical data & forecasts from 2022 to 2029
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

China's Electric Vehicle Charging Stations Market is segmented and analyzed as follows:

By Type of Electric Vehicle

• Battery Electric Vehicle (BEVs)
• Plug-in Hybrid Electric Vehicle (PHEV)

By Application

• Public
• Private