What is a charging pile?

The main job of a charging pile is to supply electricity to an electric vehicle. There are basically different types of charging piles. Some of them include AC and DC charging piles. They can also be segregated on the basis of where they are used. Depending on weather they are used in the public or the private.

What is the global charging pile market worth?

The global market for Charging Pile was estimated to be worth US$ 2766.2 million in 2023 and is forecast to a readjusted size of US$ 12040 million by 2030 with a CAGR of 22.1% during the forecast period 2024-2030

Which segment is expected to dominate the AC charging pile market?

AC charging pile segment is anticipated to dominate the market during the forecast period. Based on application, the market share is bifurcated into the following segments: Residential area and public place. The public place segment is expected to dominate the market during the forecast period.

Why is charging pile market growing?

The demand for electric vehicles has in turn increased the demand for the charging pile market. Rise in the disposable income of the people also act as a major factor driving the market growth. The pandemic of COVID-19 brought down the global economy. Many industries were badly affected and suffered due to the low demand.

How does charging piles industry affect the electric vehicle market?

Charging piles industry is directly dependent on the electric vehicle market. As a result, the high cost of electric vehicles will negatively impact the charging pile market share. A lot of money is also required for the proper maintenance of these piles.

Why is the charging pile market growing in Asia Pacific?

There are several reasons that have been attributed to the growth of the market in Asia Pacific. The major factor contributing to the market development in this region is the increasing technological advancements. Many new innovations are being seen in the charging piles, with China being the top country.