Electric Vehicle charging Infrastructure (EVCI) in the USA has gained momentum due to the policy and legal requirement of the state. The nation in its recent pledge to net zero emission by 2050, is making revolutionary changes in its automobile industry by promoting electric vehicles in place convention fossil-fuel based vehicles. To aid the development of EV in U.S., the electric vehicle charging sector is also gaining equal momentum with technological advancements.
The charging time taken by the charging equipment at present for any electric vehicles ranges anywhere between 20 minutes to 20 hours. Fast charging coupled with increasing range is becoming more and more attractive for the consumers to shift towards Electric vehicle.
Regulatory and policy changes in U.S. focuses on reducing their greenhouse gas emissions and are moving towards the path of net zero emission by 2050. With aggressive policy measures, U.S. market is shifting towards electric vehicles to curtail GHG emissions. Major players in the automobile industry like Ford, Tesla, and General Motors offer the consumers multiple electric vehicles to expand their market base. Nearly one fifth of U.S. greenhouse emission is contributed by trucks and cars and hence a necessary shift in the mode of transport is imperative to reach the ambitious net zero emission by 2050.
In this context, although EV consists of only 2% of the total new registration in U.S., Bidden-Harris administration has announced to setup 500,000 EV chargers in U.S. highways and in their communities. At present according to the study by Grand View Research, the market size of U.S. Vehicle Charging Infrastructure industry was valued at USD 2.85 billion in 2021 and is expected to grow by a CAGR of 36.9% between 2022 and 2030.
Although the market for Charging Infrastructure looks bright soon with the revenue forecast of about USD 49.14 billion by 2030, the major challenge the sector faces is the high capital expenditure. It is also extremely time consuming based on the source of the charge. However, increasing Research and development in the U.S. Electric Vehicle charging Infrastructure makes it extremely attractive to the investors to tap the potential of this blooming market that plays a major role towards sustainable development.
The U.S. Electric Vehicle charging Infrastructure aims to contribute towards United Nations’ - Sustainable Development Goals (UN – SDGs) by accomplishing the following targets, ‘Responsible Consumption and Production’, ‘Climate Action’, ‘Sustainable cities and Communities’ and ‘Affordable and Clean Energy’.
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• Macro-economic and ESG-variable analysis of the industry, including regulatory, policy, and innovation landscape
• Key insights on infrastructure developments and ESG issues affecting the theme
• Identify key initiatives and challenges within the industry
• Identify ESG leaders within the industry
• Understand key initiatives and the impact of companies within the sector to fuel an informed decision-making process
• Analysis of industry activities based on multi-media sources, including significant controversies and market sentiment
• Identifying: Policies & Regulations, Environmental Opportunities and Social risks impacting the U.S. EVCI Market.
• Understanding key risks and opportunities in U.S. EVCI industry.
• Obtaining a clear understanding of the company’s products and identifying relevant investment opportunities.
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