Energy Infrastructure for EV Charging Stations Market Worth $20 Billion by 2029

 Meticulous Research®, a prominent international market research firm, released a study titled, Energy Infrastructure for EV Charging Stations Market By Component (Transformers, Electric Distribution Systems), Number of EVSE, Energy Source (Renewable Energy Sources, Non-renewable Energy Sources), and Geography—Global Forecast to 2029’.

According to the most recent report by Meticulous Research®, the Global Energy Infrastructure for EV Charging Stations Market is projected to experience a Compound Annual Growth Rate (CAGR) of 36% from 2022 to reach $20 billion by 2029. This expansion is fuelled by governmental efforts to promote electric vehicle (EV) adoption and its related infrastructure, as well as increasing demand for rapid EV charging infrastructure. However, the market's growth may be hindered by the high cost of infrastructure equipment. Nonetheless, opportunities are anticipated to emerge from the rising acceptance of electric mobility in developing economies and the expansion of charging stations by multinational retail corporations. Nevertheless, a significant challenge to market growth is expected to arise from voltage fluctuations at EV charging stations.

The worldwide energy infrastructure for EV charging stations market is categorized by component, number of EVSE, energy source, and geographical location. The research also assesses industry rivals and scrutinizes the market on both national and regional scales.

Based on component, the global energy infrastructure for EV charging stations market is divided into several segments, including transformers, electric distribution systems, heavy-duty cables, metering systems, power converters, energy storage systems, and solar PV panels. As of 2022, the transformers segment is projected to hold the largest share in the global market. This is mainly because transformers are widely used to power electric vehicle charging applications and maintain power according to charging station requirements. However, the energy storage systems segment is anticipated to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is attributed to various initiatives by Original Equipment Manufacturers (OEMs) and stakeholders aimed at developing energy storage systems (ESS) for EV charging stations.

Based on number of EVSE, the global energy infrastructure for EV charging stations market is segmented based on the number of units, categorized as less than 5 units, 5 to 15 units, and more than 15 units. As of 2022, the segment with less than 5 units is projected to hold the largest share of the market. This growth is fueled by increasing investments from retail space owners, managers, and fuel station owners to integrate electric vehicle charging facilities on their premises. However, the segment with 5 to 15 units is expected to exhibit the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth can be attributed to various governmental incentives, tax credits, and reimbursements aimed at promoting the commercial installation of charging stations.

Based on energy source, the global energy infrastructure for EV charging stations market is divided into renewable energy sources and non-renewable energy sources. As of 2022, the non-renewable energy sources segment is expected to dominate the market. This growth is driven by governmental incentives and subsidies aimed at encouraging the purchase of EVs and EV charging infrastructure.

Based on geography, the energy infrastructure for the EV charging stations market is segmented across regions including North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As of 2022, Asia-Pacific is projected to hold the largest share in the global market. This growth is attributed to increasing EV demand in countries like China and Japan, coupled with government efforts to curb greenhouse gas emissions, thus promoting EV adoption. However, Europe is expected to witness the highest Compound Annual Growth Rate (CAGR) during the forecast period. This growth is fueled by governmental initiatives aimed at expanding charging infrastructure throughout the region. Key countries leading in EVs and charging points within Europe include France, Germany, the Netherlands, Norway, and the U.K.

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Key Players:

The main players in the global energy infrastructure for EV charging stations market include ABB Ltd (Europe), Accuenergy Inc. (Canada), Albury Services Ltd (U.K.), Beam Global (U.S.), Bowers Electricals Ltd (U.K.), Electro-Wind Ltd. (England), EREA Energy Engineering BV (Belgium), Hammond Power Solutions Inc. (Canada), Olsun Electrics Corporation (U.S.), MGM Transformer Company (U.S.), Mornsun Guangzhou Science & Technology Co., Ltd (China), Powersmiths International Corp. (Canada), Quadlogic Meters Canada Inc. (Canada), R&S International Holding AG (Switzerland), and Wilson Power Solutions (England).

Key questions answered in the report:

  • What are the segments showing significant growth potential in terms of component, number of EVSE, energy source, and geographical regions?
  • What was the past market performance of the global energy infrastructure for EV charging stations market worldwide?
  • What are the projected market predictions and estimations for the period spanning from 2022 to 2029?
  • What are the primary factors propelling, hindering, offering opportunities, and shaping trends in the global market for energy infrastructure pertaining to EV charging stations?
  • Who are the key players and what are their respective market shares in the global market for energy infrastructure related to EV charging stations?
  • What does the competitive scenario look like in the global market for energy infrastructure associated with EV charging stations?
  • What are the latest advancements or updates within the global market for energy infrastructure for EV charging stations?
  • How do major players in the global energy infrastructure for EV charging stations market employ various strategies?
  • What are the significant geographical patterns, and which countries are experiencing notable growth in the global energy infrastructure for EV charging stations market?
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