Residential EV Charging Station Market to Reach $101 Billion Globally by 2032 at 36.1% CAGR: Allied Market Research
WILMINGTON, Del., Feb. 1, 2024 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Residential EV Charging Station Market Size, Share, Competitive Landscape and Trend Analysis Report by Vehicle Type (Passenger Cars, Commercial Vehicles), by Charging Station Type (Less than 11 KW, 11 KW-50 KW, Above 50 KW): Global Opportunity Analysis and Industry Forecast, 2023-2032." According to the report, the global residential EV charging station market generated $5.4 million in 2022, and is anticipated to generate $101 billion by 2032, rising at a CAGR of 36.1% from 2023 to 2032.
- The passenger cars sub-segment accounted for the largest global residential EV charging station market share of 68.2% in 2022 and is expected to grow at the highest CAGR of 36.3% during the forecast period from 2023 to 2032.
- This is mainly because home charging stations offer greater scheduling flexibility and convenience by reducing the need to visit public charging stations, saving time for EV owners.
- The residential EV charging station market in the Europe region accounted for the largest share of 37.9% in 2022 and is predicted to hold maximum share by 2032.
- Leading Players in the Residential EV Charging Station Market: