EV charging station market to grow 30.5% CAGR, reaching $226.3 billion

The global Electric Vehicle (EV) charging station market is projected to grow from $16.6 billion in 2021 to $226.3 billion by 2031, achieving a CAGR of 30.5%. Factors driving this growth include increased EV adoption and government initiatives. However, challenges like high infrastructure costs and lack of standardization hinder progress.