[XIE SHANGGUO/FOR CHINA DAILY] Global interest in homegrown charging piles for new energy vehicles has ballooned as China cements its leading position in the global NEV market with exports set to almost double this year, experts and industry executives said.
Industries and large-scale commercial enterprises are prioritizing efficient and powerful heating options, which is expected to propel the segment during the forecast period. In terms of region, the global charging pile market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
According to data from the Ministry of Public Security, by the end of 2023, China had 20.41 million NEVs and 8.6 million charging piles. It resulted in a ratio of vehicles to charging piles of about 2.4:1. For public charging piles, the ratio was around 7.5:1.
Chinese charging pile companies have advantages in the supply chain, technology innovation and cost, leading to high demand in overseas markets, industry experts said. With emissions regulations tightening, the transition to vehicle electrification is unstoppable worldwide.
Growing environmental consciousness and surging demand for electric vehicles (EVs) have fueled charging piles market. The market has witnessed increasing investments and advancements in charging infrastructure, driven by the global shift toward sustainable transportation solutions.
Zhang pointed out challenges in exporting charging pile products, such as policy restrictions similar to those for electric vehicles. Additionally, the need for localized services poses challenges, given the dispersed customer base.
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The global charging pile market size was USD 1.53 Billion in 2023 and is projected to reach USD 3.15 Billion by 2032, expanding at a CAGR of 8.35% during 2024–2032
The global charging pile market size was USD 1.53 Billion in 2023 and is projected to reach …
Global interest in homegrown charging piles for new energy vehicles has ballooned as China cements its leading position in the global NEV market with exports set to …
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