The electric car market is snowballing in the United States. It is an excellent opportunity for those looking to get into the electric car market or start their own business. There are many different ways to start an electric car charging station business, so be sure to do your research before getting started. The US electric vehicle market is estimated to grow significantly in the next few years, so now is the time to get involved in this industry!
Table of Contents
How big is the US electric car market?
The electric vehicle market in the United States has grown from a few thousand vehicles in 2010 to more than 315,000 vehicles sold annually from 2018 to 2021.
In 2021, the electric share of new vehicle sales was approximately 3.8%, increasing from about 8% in 2020. This study, an update of our previous analysis of the state, local, and utility company actions to promote electric vehicles, shows the states and cities with the greatest electric vehicle market success continue to have the most robust and most comprehensive policy supports.
As electric vehicles become more popular in the United States, the market for electric car charging stations is expected to grow.
It presents a great business opportunity for those looking to get into this industry. According to a National Renewable Energy Laboratory study, electric vehicle sales are expected to reach nearly 1 million vehicles by 2030. It would create a market for electric car charging stations of more than $10 billion.
US Electric Vehicle Charging Station Market Size
The electric car charging station market size in the United States is expected to reach $17.5 billion by 2025, according to a new report by MarketsandMarkets.
The report estimates that the electric vehicle market will grow at a compound annual growth rate (CAGR) of 28.5% during the forecast period. The electric car charging station market is segmented into public and private stations. The public stations are further segmented into fast charging and slow charging stations.
How many EV charging stations will be in the US in 2022?
There is over 50,000 electric vehicle charging stations in the US as of 2022.
This number is expected to grow significantly in the coming years as electric vehicles become more popular.
The electric car charging station market proliferates due to the increasing demand for electric vehicles.
How many charging stations will the US need?
The electric car charging station market is multiplying due to the increasing demand for electric vehicles. As electric cars become more popular, the number of charging stations will need to increase.
The US is expected to require over 1 million electric vehicle charging stations by 2025. This number could grow even more significantly if electric cars continue to gain popularity.
Who has the most EV charging stations in the US?
ChargePoint has the most electric car charging stations in the US, with 25,805. Tesla comes in second with 12,818 charging stations, and Blink Network ranks third with 1,986. It means that the top three companies account for 72% of all-electric car charging stations in the US.
These three companies have a significant lead over the electric vehicle charging stations competition.
Who builds EV charging stations in the US?
A few different companies build electric car charging stations in the United States. Tesla’s largest and most well-known company, which makes both Level 2 and DC fast-charging stations.
Other companies that build electric car charging stations include ChargePoint, EVgo, and Greenlots.
ChargePoint is the largest. The company operates chargers in over 28 countries and has built a network of more than 20,000 electric vehicle charging spots.
DriveCharge points out that some insurers even give electric drivers a discount for using ChargePoint’s electric car charging station networks.
What state has the most electric car charging stations?
California has the most electric car charging stations.
It is no surprise that California is often a leader in electric vehicle adoption. According to the ChargePoint website, the state has more than 5,000 electric car charging stations. New York and Texas follow California.
Is charging stations a profitable business?
Whether electric vehicle charging stations are profitable or not depends on a few factors. One significant factor is the cost of installing and maintaining the charging station. Another factor is how much use the station gets.
If electric vehicle ownership continues to grow, then electric car charging stations should become more profitable over time.
Tesla, for example, has seen significant profits from its electric car charging station business. And ChargePoint, the largest electric vehicle charging station company globally, saw its revenue more than double between 2019 and 2020.
conclusion
The US’s electric car charging stations business opportunity is proliferating as electric vehicles become more popular. If you’re looking for a new business venture, this could be an excellent opportunity to get into the electric vehicle market. We’ve provided some key information about the electric car market in the US and how you can capitalize on this growing industry. Thanks for reading!
Start your EV charging Business with Evcnice today
Simply fill out your details and we’ll give you a call to discuss the right EV chargers for your charging needs.