APAC Market Outlook 2021 - Electric Vehicles and Charging Infrastructure 2020-2030

In global electric vehicle (EV) charging station market by region, as of 2018,the Asia-Pacific region had the highest share at 56.62%

Asia-Pacific region increased from USD 34 billion in 2018 to an average annual growth rate of 42.%. Thus, it is expected to reach $197 billion by 2023.

China's electric vehicle market is the world's largest, with a market share of more than 50% for 4 consecutive years. In 2018 and 2019, China's electric vehicle sales exceeded 1.2 million units for two consecutive years.

The overall market for charging infrastructure in India is fragmented and unstructured owing to segregation in terms of public vs. private players.

In Japan, the number of EV charging stations in Japan fell to around 29,200 in the end of March 2021, down from 30,300 the previous year. The EV penetration is only at around 1%, and the country has hundreds of aging charging poles that aren't being used while others (they have an average lifespan of about eight years) are being taken out of service altogether.