Norway Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029
Norway's electric vehicle charging stations market is estimated to expand at a CAGR of 19.54% to attain US$1,038.768 million 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 the introduction 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
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% of the total EV market share. The Norwegian Electric Vehicle Association, in its report, stated that the market share of EVs has grown significantly over the past 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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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)
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
- 1. INTRODUCTION
- 1.1. Market Overview
- 1.2. Market Definition
- 1.3. Scope of the Study
- 1.4. Market Segmentation
- 1.5. Currency
- 1.6. Assumptions
- 1.7. Base and Forecast Years Timeline
- 1.8. Key benefits for the stakeholders
- 2. RESEARCH METHODOLOGY
- 2.1. Research Design
- 2.2. Research Process
- 3. EXECUTIVE SUMMARY
- 3.1. Key Findings
- 4. MARKET DYNAMICS
- 4.1. Market Drivers
- 4.2. Market Restraints
- 4.3. Porter’s Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers
- 4.3.2. Bargaining Power of Buyers
- 4.3.3. The Threat of New Entrants
- 4.3.4. Threat of Substitutes
- 4.3.5. Competitive Rivalry in the Industry
- 4.4. Industry Value Chain Analysis
- 4.5. Analyst View
- 5. NORWAY ELECTRIC VEHICLE CHARGING STATIONS MARKET BY VEHICLE TYPE
- 5.1. Introduction
- 5.2. Battery Electric Vehicles (BEVs)
- 5.3. Plug-in Hybrid Electric Vehicle (PHEV)
- 6. NORWAY ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION
- 6.1. Introduction
- 6.2. Commercial
- 6.3. Residential
- 7. NORWAY ELECTRIC VEHICLE CHARGING STATIONS MARKET BY CHARGING TYPE
- 7.1. Introduction
- 7.2. AC Charging (Level 1 and Level 2)
- 7.3. DC Charging
- 8. COMPETITIVE ENVIRONMENT AND ANALYSIS
- 8.1. Major Players and Strategy Analysis
- 8.2. Market Share Analysis
- 8.3. Mergers, Acquisitions, Agreements, and Collaborations
- 8.4. Competitive Dashboard
- 9. COMPANY PROFILES
- 9.1. ABB Ltd.
- 9.2. Siemens AG
- 9.3. Tesla Inc.
- 9.4. Kempower
- 9.5. Eviny
- 9.6. Mer Norway AS
- 9.7. IONITY GmbH
- 9.8. Fortum Charge & Drive
- 9.9. Kempower
- 9.10. Wennstrom Solutions & Service AS
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