Market Size of Japan EV Charging Station Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 44.92 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Japan Electric Vehicle Charging Station Market Analysis
Japan Electric Vehicle Charging Station Market is witnessing major growth at the value of USD 0.2 billion in 2021 and is projected to grow at the value of USD 1.79 billion in 2027 at a CAGR of 44.92% in terms of value during the forecast period 2022-2027.
The market has been negatively impacted by the outbreak of the pandemic COVID-19. The sales of electric vehicles in the country were hampered, and the market share of electric vehicles is very low. The major reason for the low sales during the year was the strict lockdown measures, as economic activities were stopped for a long time during the year.
The high number of plug-in hybrids and the growing demand for battery electric vehicles and their usage in the country significantly boosted the demand for electric vehicle charging stations and increased the market opportunities for the industry.
Major subsidies offered by the country's government to promote the use of electric vehicles as an effort to become carbon neutral by 2050 led to subsidizing the charging stations in the country. This is likely to drive the market's growth during the forecast period.
The government across the country is boosting the sales of green fuel vehicles and has an ambitious plan that all the new vehicles sold by 2035 would be powered by electricity, both electric and hybrid electric vehicles. This will enhance the demand for electric vehicle charging stations during the forecast period.
