This New Crypto Startup is Poised to Transform the EV Industry – Here's Why You Should Pay Attention
The electric vehicle (EV) charging sector is set to experience an unprecedented level of growth in the coming years, thanks to a confluence of factors that are driving the adoption of EVs and the development of charging infrastructure.
According to a PwC analysis, the number of EVs in the United States is projected to reach 27 million by 2030 and 92 million by 2040.
This growth in EVs will lead to a corresponding increase in the demand for charging stations, requiring a tenfold increase in the number of charge points to support the demand.
As a result, the EV infrastructure market is expected to reach $100 billion by 2040, with charge point operators (CPOs) generating most of the revenue among Electric Vehicle Supply Equipment (EVSE) players through integrated turn-key solutions.
The growth of the EV charging sector is also bringing about a shift in segments, with the at-work and on-the-go charging segments projected to experience the fastest growth through 2030.
Furthermore, multi-unit residential buildings are expected to be another fast-growing segment, with growth predicted to rise from nearly nil currently to about 15% of all the market in 2025 and 17% in 2030.
The maturation of the EVSE market is being further fuelled by the proliferation of EVSE start-ups and the growing investment in the industry.
Major energy companies have acquired more than 20 EV charging start-ups in the EU and US since 2021, and at least five EV companies have gone public via special purpose acquisition companies (SPACs) since 2020.
This investment is expected to continue as more businesses enter the market, creating even more opportunities for growth and innovation.
Given the tremendous potential for growth in the EV charging sector, businesses
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