Energy Infrastructure for EV Charging Stations Market Projected to Reach $20 Billion by 2029

 

Meticulous Research®, a prominent global market research firm, has released a comprehensive report 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." This report reveals that the global energy infrastructure market for EV charging stations is anticipated to witness a robust compound annual growth rate (CAGR) of 36% from 2022, ultimately reaching a valuation of $20 billion by 2029.

Several factors are propelling the expansion of this market, primarily government initiatives aimed at accelerating the adoption of electric vehicles (EVs) and the associated infrastructure, coupled with a growing demand for fast-charging solutions for EVs. Despite these positive drivers, the high cost of infrastructure equipment poses a significant barrier to market growth. Conversely, the increasing adoption of electric mobility in emerging markets and the rise in charging station deployments by multinational retail corporations are expected to create lucrative opportunities for market stakeholders. Nevertheless, the challenges posed by voltage dips at EV charging stations are anticipated to present significant obstacles to the market's growth trajectory.

The global energy infrastructure market for EV charging stations is categorized based on components, the number of Electric Vehicle Supply Equipment (EVSE), energy sources, and geographic regions. The report also provides an in-depth analysis of industry competitors and evaluates the market at both country and regional levels.

In terms of components, the market is segmented into transformers, electric distribution systems, heavy-duty cables, metering systems, power converters, energy storage systems, and solar PV panels. In 2022, the transformers segment is projected to hold the largest share of the global energy infrastructure market for EV charging stations. This segment's growth is primarily attributed to the widespread use of transformers in powering EV charging applications and maintaining power in accordance with charging station requirements. However, the energy storage systems segment is expected to exhibit the highest CAGR during the forecast period, driven by initiatives from Original Equipment Manufacturers (OEMs) and other stakeholders to develop advanced energy storage systems (ESS) for EV charging stations.

When examining the market by the number of EVSE units, the global energy infrastructure market for EV charging stations is divided into segments of less than 5 units, 5 to 15 units, and more than 15 units. In 2022, the segment with fewer than 5 units is expected to dominate the market. This growth is driven by increasing investments from retail space owners, property managers, and fuel station operators seeking to incorporate EV charging capabilities on their premises. However, the segment comprising 5 to 15 units is anticipated to achieve the highest CAGR during the forecast period, supported by government incentives, tax credits, and reimbursements for the commercial installation of EV charging stations.

Regarding energy sources, the market is segmented into renewable and non-renewable energy sources. In 2022, the non-renewable energy sources segment is predicted to capture the largest market share. The growth of this segment can be attributed to government incentives and subsidies aimed at encouraging the purchase of EVs and the development of EV charging infrastructure.

Geographically, the energy infrastructure market for EV charging stations is divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is expected to lead the market, driven by the rising demand for EVs in countries like China and Japan, alongside governmental initiatives focused on reducing greenhouse gas emissions, which are likely to spur EV adoption. Meanwhile, Europe is anticipated to record the highest CAGR over the forecast period, with market growth driven by government efforts to establish a comprehensive EV charging infrastructure across the region. Notably, France, Germany, the Netherlands, Norway, and the U.K. are expected to lead the charge in EV adoption and the establishment of charging points across Europe.

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Key Players:

The key players operating in the global energy infrastructure for EV charging stations market are 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:

  • Which are the high-growth market segments in terms of component, number of EVSE, energy source, and geography?
  • What was the historical market for global energy infrastructure for EV charging stations market across the globe?
  • What are the market forecasts and estimates for the period 2022–2029?
  • What are the major drivers, restraints, opportunities, and trends in the global energy infrastructure for the EV charging stations market?
  • Who are the major players and their shares in the global energy infrastructure for the EV charging stations market?
  • How is the competitive landscape in the global energy infrastructure for the EV charging stations market?
  • What are the recent developments in the global energy infrastructure for the EV charging stations market?
  • What are the different strategies adopted by the major players in the global energy infrastructure for the EV charging stations market?
  • What are the key geographic trends, and which are the high-growth countries?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

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