Over the last several years, the growth of the EV Charging station business has mirrored the massive adoption of plug-in hybrid and fully electric powered vehicles. The global electric vehicle market, valued at ~$200 billion in 2021, is now projected to reach $823.75 billion by 2030, registering a compound annual growth rate (CAGR) of 18.2% over that timeframe. [footnote Allied Market Research] [actual citation?]
-According to Grandview Research, charging station infrastructure in the US is projected to grow by a CAGR of 30.6%, over the same period.
Currently there are only 25,981 public charging locations in the US. Compared to the 145,000+ gas stations in the US the Number of charging locations will have to increase by over 500% to compete with the ICE vehicle market. Due to the fact that many customers will be charging their cars at home, this does not account to the fact that consumers will need to spend more time at a location to charge their vehicles thus increasing the number of EV charging ports needed. However, it’s not about how much charge a customer will need but the fact that customers will need more convenient charging availability at more locations throughout the United States.
EVectriFi provides top-of-the-line electric vehicle charging stations along with high quality installations to business owners and multi-family communities. Our goal as a company is to assist landlords, property managers and governments in building the infrastructure that electric vehicles will need as they become more common and enable our clients to reduce their negative impact on the environment while living more conveniently. Electric cars have been rapidly rising in popularity throughout the United States over the last few years, and it’s important that as their popularity continues to grow, the demand for EV charging stations is met.