While global logistical hindrances keep intensifying with the continuing Russia-Ukraine war, the U.S. Congress has passed a bill to ban oil and gas imports from Russia. This is expected to keep oil and gas prices well above normal levels for an extended period. As a result, the demand for electric vehicles (EVs) is expected to rise significantly, making the prospects bright for charging solutions providers.
In addition, the Biden administration’s bipartisan infrastructure bill has allotted $5 billion to build a national EV charging network, which should drive the industry’s growth further. According to Emergen Research, the global EV charging infrastructure market is expected to grow at a 38.6% CAGR through 2030.
