Asia is the leading region in the EV charging market

The EV charging market continues to grow at a high pace this decade. According to market research conducted by The Insight Partners, the value of the EV Charging market reached USD 8.8 billion in 2021 alone. This figure is expected to grow at a 15% CAGR to USD 23.4 billion by 2028.
Asia is the leading region in the EV charging station market, accounting for USD 4 billion or 45% of the global market in 2021. With a market value of USD 10.8 billion and a 15.2% CAGR, the region is expected to maintain its leadership position in 2028.

Europe is the market’s second largest region, with the fastest growth rate of 17.2% CAGR.

With a market value of USD 2.6 billion in 2021, Europe controls approximately 29% of the global market share. By 2028, the European market is expected to grow to USD 7.8 billion.

China and India are the region’s two largest markets, with respective market values of USD 1.6 billion and USD 945 million in 2021.

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Source: Asia is the leading region in the EV charging station market | The Insight Partners
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