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.
An EV (electric vehicles) charging station is a hub or center that offers charging solutions to these vehicles. This links an EV to a power source, allowing electric vehicles, like passenger cars, two/three wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to grow significantly in Norway, mainly with the increasing ownership of electric vehicles and theintroduction of new policies and investment plants to boost the nation's EV infrastructure.
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.
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.
An EV (electric vehicles) charging station is a hub or center that offers charging solutions to these vehicles. This links an EV to a power source, allowing electric vehicles, like passenger cars, two/three wheel EVs, fleets, and electric transport vehicles, to charge their batteries. The EV charging station market is expected to grow significantly in Norway, mainly with the increasing ownership of electric vehicles and theintroduction of new policies and investment plants to boost the nation's EV infrastructure.
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.
Norway Electric Vehicle Charging Stations Market Drivers:
- Increasing Demand for the Electric Vehicle
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.
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Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive IntelligenceReport Coverage:
- Historical data & forecasts from 2022 to 2029
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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
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. NORWAY ELECTRIC VEHICLE CHARGING STATIONS MARKET BY VEHICLE TYPE
6. NORWAY ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION
7. NORWAY ELECTRIC VEHICLE CHARGING STATIONS MARKET BY CHARGING TYPE
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies Mentioned
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
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 103 |
| Published | October 2024 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value ( USD | $ 425.63 million |
| Forecasted Market Value ( USD | $ 1030 million |
| Compound Annual Growth Rate | 19.5% |
| Regions Covered | Norway |
| No. of Companies Mentioned | 10 |
