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| Electric vehicle charging station market to reach $100 billion in less than decade – report | Electric vehicle charging station market to reach $100 billion in less than decade – report |
| (2 months later) | |
| Revenues generated by the global market of Electric Vehicle Charging Stations (EVCS) are expected to grow to $93 billion by 2027, at a compound annual growth rate of nearly 20%, the latest report by Astute Analytica shows. | Revenues generated by the global market of Electric Vehicle Charging Stations (EVCS) are expected to grow to $93 billion by 2027, at a compound annual growth rate of nearly 20%, the latest report by Astute Analytica shows. |
| In 2019, the sector managed to raise a modest revenue of around $23,000, the agency based in the Indian city of Noida said. | In 2019, the sector managed to raise a modest revenue of around $23,000, the agency based in the Indian city of Noida said. |
| According to the study, 819,000 EVCS units were sold in pre-pandemic 2019, with the number of sales moving up at a compound annual growth rate of 17.5%. | According to the study, 819,000 EVCS units were sold in pre-pandemic 2019, with the number of sales moving up at a compound annual growth rate of 17.5%. |
| Experts from Astute Analytica said the overall growth of the market is slowed by the high cost of construction of EVCS infrastructure, which may prevent the sector from developing. | Experts from Astute Analytica said the overall growth of the market is slowed by the high cost of construction of EVCS infrastructure, which may prevent the sector from developing. |
| A well-developed EVCS infrastructure offers opportunities for charging various electric vehicles, including 2-wheelers, 3-wheelers, passenger vehicles, and commercial cars, as well as the use of fast and wireless chargers. | A well-developed EVCS infrastructure offers opportunities for charging various electric vehicles, including 2-wheelers, 3-wheelers, passenger vehicles, and commercial cars, as well as the use of fast and wireless chargers. |
| The fluctuating costs of electricity required for EVCSs pose a challenge for construction, financing, maintenance, and operation of the necessary infrastructure. | The fluctuating costs of electricity required for EVCSs pose a challenge for construction, financing, maintenance, and operation of the necessary infrastructure. |
| According to the analysis, the cost of charging infrastructure components for level 2 commercial chargers ranges from $2,500 to $7,210, while 50kW fast DC charging infrastructure costs up to $35,800. | According to the analysis, the cost of charging infrastructure components for level 2 commercial chargers ranges from $2,500 to $7,210, while 50kW fast DC charging infrastructure costs up to $35,800. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |