During 2022, fuel prices increased very quickly, partly due to a number of macroeconomic reasons. In fact, the effects of the global COVID-19 pandemic are still impacting fuel prices, with many oil refineries having reduced capacity due to a prior fall in demand. Those significant events and other trends have created a demand for a growing variety of Electric Vehicles (EVs). While EVs have existed for decades, they really became a viable option for more consumers during the past five years. However, although EVs are suitable for some buyer needs, their usability is constrained by the current availability of battery charging infrastructure. EV Charging Market Development According to the latest worldwide market study by Juniper Research, revenue from electric vehicle charging will exceed $300 billion globally by 2027 -- that's up from $66 billion in 2023. Regardless, the Juniper analysis found that fragmentation in battery charging networks is restricting further EV adoption in some...
TMT Market Research and Analysis