China EV Charging Station Market to Reach $10.1 Billion by 2030 Amid Strong EV Adoption
The Asia Pacific Electric Vehicle Market is expected to grow from USD 218.8 billion to USD 404.7 billion by 2030, at a CAGR of 8.1%. The market in Asia Pacific region is led by growing dominance in China, and increasing demand for passenger EVs in South Korea, India, Japan and south east Asian countries such as Thailand, Indonesia, Malaysia and Vietnam. EV sales in China peaked near 50% share of the total vehicle sales in 2024; led by strong collaboration of domestic automakers with battery manufacturers (with lower EV battery costs) and increased platformization, leading to lower cost compared to foreign OEMs. This was however, led by strong sales of PHEVs, which grew by over 80% compared to 2023. Other countries in the region had a slowdown in sales in 2024, but have been showing growth in consumer acceptance lately, and expected to speed up their EV shift post 2025. BYD (~30-35%) and Tesla (~10-13%) held the largest market share in the region, led by demand for mid-priced ma...