According to a new market intelligence report by BIS Research, titled "Global Electric Vehicle Fast Charging System Market - Analysis and Forecast, 2019-2029", the electric vehicle fast charging system market was estimated at 96.4 thousand units in 2018 and is expected to reach 812.2 thousand units by 2029, growing at a CAGR of 21.90% during the forecast period.
Owing to the factors such as rising number of electric vehicles in developed and developing nations, growing push from government for the positioning of highway chargers as well as fast bus chargers, and technological advancement i.e. transition from level 2 to level 3 chargers, the market is anticipated to grow at a significant rate.
Electric vehicle fast charging system is a pivotal aspect of the electric vehicle ecosystem and is used for charging the battery of electric vehicles in a shorter time as compared to other chargers. These chargers supply electric energy to the electric vehicle to charge the battery of both plug-in hybrid vehicles and electric vehicles.
To read the complete press release, visit - https://www.prnewswire.com/news-releases/global-electric-vehicle-fast-charging-system-market-to-reach-to-812-2-thousand-units-by-2029--300842608.html