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This New Crypto Startup is Poised to Transform the EV Industry – Here's Why You Should Pay Attention

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The electric vehicle (EV) charging sector is set to experience an unprecedented level of growth in the coming years, thanks to a confluence of factors that are driving the adoption of EVs and the development of charging infrastructure.According to a PwC analysis, the number of EVs in the United States is projected to reach 27 million by 2030 and 92 million by 2040.

This growth in EVs will lead to a corresponding increase in the demand for charging stations, requiring a tenfold increase in the number of charge points to support the demand.

As a result, the EV infrastructure market is expected to reach $100 billion by 2040, with charge point operators (CPOs) generating most of the revenue among Electric Vehicle Supply Equipment (EVSE) players through integrated turn-key solutions.The growth of the EV charging sector is also bringing about a shift in segments, with the at-work and on-the-go charging segments projected to experience the fastest growth through 2030.

Furthermore, multi-unit residential buildings are expected to be another fast-growing segment, with growth predicted to rise from nearly nil currently to about 15% of all the market in 2025 and 17% in 2030.The maturation of the EVSE market is being further fuelled by the proliferation of EVSE start-ups and the growing investment in the industry.Major energy companies have acquired more than 20 EV charging start-ups in the EU and US since 2021, and at least five EV companies have gone public via special purpose acquisition companies (SPACs) since 2020.

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