Norway Electric Vehicle Charging Stations Forecasts Report 2024: Market To Reach $1.03 Billion By 2029 - Government Initiatives Open New Opportunities
Date
10/28/2024 5:46:26 AM
(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
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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