Meticulous Research®, a premier 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.” The report indicates that the global market for energy infrastructure for EV charging stations is expected to grow at a robust CAGR of 36% from 2022, with the market projected to reach $20 billion by 2029.
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The market’s growth is attributed to government initiatives aimed at accelerating the adoption of electric vehicles (EVs) and expanding the necessary infrastructure, along with rising demand for fast-charging EV solutions. Despite these growth drivers, high infrastructure costs could pose a significant challenge. However, the increasing adoption of electric mobility in emerging markets and the growing installation of EV charging stations by multinational retail companies are expected to create significant opportunities for market players. The industry may also face challenges related to voltage dips at EV charging stations, which could affect overall growth.
The global energy infrastructure market for EV charging stations is segmented by component, number of Electric Vehicle Supply Equipment (EVSE) units, energy sources, and geographic region. The report provides an in-depth analysis of key industry competitors and evaluates the market on 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 expected to dominate the market, capturing the largest share due to its extensive use in powering and managing EV charging stations. The energy storage systems segment, however, is anticipated to show the highest CAGR during the forecast period, driven by advancements in energy storage technologies by OEMs and other stakeholders.
The market is also segmented by the number of EVSE units into less than 5 units, 5 to 15 units, and more than 15 units. The segment with fewer than 5 units is expected to lead the market in 2022, supported by investments from retail property owners and fuel station operators incorporating EV charging facilities. Conversely, the 5 to 15 units segment is projected to experience the highest CAGR during the forecast period, driven by government incentives and tax breaks for commercial EV charging infrastructure.
Regarding energy sources, the market is divided into renewable and non-renewable categories. The non-renewable energy sources segment is expected to hold the largest market share in 2022, supported by government incentives and subsidies for EV and charging infrastructure purchases. The renewable energy sources segment, however, is likely to gain traction as global sustainability efforts become more prominent.
Geographically, the energy infrastructure market for EV charging stations is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is projected to lead the market in 2022, driven by high EV demand in China and Japan and supportive government initiatives aimed at reducing greenhouse gas emissions. Europe is expected to experience the highest CAGR during the forecast period, fueled by extensive government efforts to develop a robust EV charging infrastructure. Key European countries such as France, Germany, the Netherlands, Norway, and the United Kingdom are anticipated to lead in EV adoption and the expansion of charging infrastructure across the region.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/energy-infrastructure-for-ev-charging-stations-market-5301
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?
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