The US electric vehicle (EV) charging equipment market is expected to register a CAGR of more than 28% during the forecast period. The COVID-19 outbreak in Q1 2020 led to delayed EV infrastructural development, curbing the investments by prominent players in the electric vehicle market. Factors such as the growing adoption of electric vehicles in the country, increasing investments in electric vehicles, and the development of electric vehicle infrastructure are expected to drive the charging equipment market during the forecast period. However, high installation costs associated with setting up charging stations and maintenance costs are expected to hinder the market’s growth during the forecast period.
The US electric vehicle (EV) charging equipment market is moderately fragmented. The key players in the market include ABB Ltd, Robert Bosch GmbH, Delta Electronics Inc., Siemens AG, and Tesla Inc.
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