analyze the market for electric vehicles charger in Russia
Apr 21, 2023Russia has been experiencing a steady growth in the sales of electric vehicles in recent years, with the government aiming to have 10% of new car sales to be electric by 2024. This has led to an increase in demand for electric vehicle chargers across the country.
According to a report by ResearchAndMarkets, the electric vehicle charger market in Russia was valued at USD 8.59 million in 2020 and is expected to grow at a CAGR of 38.9% from 2021 to 2028. The report also suggests that the growth of the market is mainly driven by the government initiatives to promote the adoption of electric vehicles, such as subsidies and tax exemptions, as well as the growing concerns over air pollution.
There are several companies operating in the electric vehicle charger market in Russia, including Schneider Electric, ABB, Siemens, and Efacec. These companies are offering various types of chargers, including AC and DC chargers, as well as fast and ultra-fast chargers.
However, despite the growing demand for electric vehicle chargers in Russia, there are still some challenges facing the market. One of the main challenges is the lack of charging infrastructure in some areas of the country, especially in remote and rural areas. Another challenge is the high cost of electric vehicle chargers, which may deter some consumers from buying electric vehicles.
In conclusion, the market for electric vehicle chargers in Russia is expected to grow rapidly in the coming years, driven by government initiatives and increasing awareness of the benefits of electric vehicles. However, challenges such as the lack of charging infrastructure and high costs of chargers need to be addressed to ensure the sustainable growth of the market.