Market Overview
Market Research Future (MRFR) believes that the electric vehicle battery charger market 2020 could potentially record a CAGR of 14.3% between 2019 and 2025 (appraisal period). We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak.
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Key Boosters and Main Barriers
Although 2020 has observed a tumultuous time and the automotive industry has been facing financial losses, the silver lining can be the increasing number of electric vehicles seen on the road. With the promising increase in the sales of EVs despite the COVID-19 outbreak, experts project favorable growth prospects. Considering the effect of the pandemic on the worldwide automotive market, governments are proactively taking up essential steps to promote the use of electric vehicles, with one of the main agendas cited to be the rising environmental issues. Therefore, most governments following the spread of SARS-CoV-2 as well as the consequent lockdown have steered their focus on infrastructure development in a bid to restore the economy once again.
