Why Charging Infrastructure Is the Biggest Barrier to EV Growth

Electric Vehicle Market Size and Trends
The global electric vehicle market size is likely to be valued at US$ 733 Bn in 2025 and is estimated to reach US$ 1,902.0 Bn in 2032, at a CAGR of 14.6% during the forecast period 2025 – 2032.

The global electric vehicle market growth is primarily driven by advancements in battery technology, cost reductions, and robust tax incentives. While high upfront costs and limited charging infrastructure remain challenges; however, lower operating costs and vertical integration offer competitive advantages. Battery Electric Vehicles (BEVs) are leading the transition, with passenger cars dominating the market share. Asia Pacific, led by China, holds over 58% of global EV sales, followed by a recovering European market with strong policy-driven BEV adoption.