Norway Electric Vehicle Charging Stations Forecasts Report 2024: Market To Reach $1.03 Billion By 2029 - Government Initiatives Open New Opportunities

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 28, 2024 (GLOBE NEWSWIRE) -- The "Norway Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
Norway's electric vehicle charging stations market is estimated to expand at a CAGR of 19.54% to attain US$1.03 billion by 2029, from US$425.629 million in 2024.

The Norwegian electric vehicle charging station market is expected to witness massive growth with the increasing demand for electric vehicles in the nation. The electric vehicle sector witnessed significant growth in its market share compared to hybrid, diesel, and petrol automotive, which is expected to push the development of electric vehicle charging infrastructure. Similarly, introducing new policies and plans by the nation's government is also estimated to create new growth opportunities in the market.
Increasing Demand for the Electric Vehicle

One of the major driving factors estimated to propel the Norwegian electric vehicle charging station market forward is the increase in the country's EV demand. Norway is among the biggest consumers of electric vehicles in the European market, and demand will further increase with the introduction of new government policies and development in the electric vehicle ecosystem.

The European Alternative Fuels Observatory, a part of the European Commission, in its April 2024 report, stated that the Norwegian EV market share was recorded at 91.5%. The agency further noted that the battery electric vehicle (BEV) dominates with about 90%ofthe total EV market share. The Norwegian Electric Vehicle Association, in its report, stated that the market share of EVs has grown significantly over thepast few years in Norway. The Association stated that in 2021, the EV market share was recorded at about 64.5%, which grew significantly to 79.3% in 2022. The total market share of electric vehicles in 2023 was about 82.4% in Norway.

Key Attributes:

Report Attribute	Details
No. of Pages	103
Forecast Period	2024 - 2029
Estimated Market Value (USD) in 2024	$425.63 million
Forecasted Market Value (USD) by 2029	$1030 million
Compound Annual Growth Rate	19.5%
Regions Covered	Norway

Report Coverage:

• Historical data & forecasts from 2022 to 2029
• Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
• Competitive Positioning, Strategies, and Market Share Analysis
• Revenue Growth and Forecast Assessment of segments and regions including countries
• Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Some of the key companies profiled in this Norway Electric Vehicle Charging Stations Market report include:

• ABB Ltd.
• Siemens AG
• Tesla Inc.
• Kempower
• Eviny
• Mer Norway AS
• IONITY GmbH
• Fortum Charge & Drive
• Kempower
• Wennstrom Solutions & Service AS

The Norwegian Electric Vehicle Charging Stations Market is segmented and analyzed as follows:

By Vehicle type

• Battery Electric Vehicle (BEVs)
• Plug-in Hybrid Electric Vehicle (PHEV)

By Application

• Commercial
• Residential

By Charging type

• AC Charging (Level 1 and Level 2)
• DC Charging

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Attachment

• Norwegian Electric Vehicle Charging Stations Market

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