Energy Infrastructure for EV Charging Stations is on track to be worth $20 billion by 2029.

Rajul123

posted on 2 months ago — updated on 1 second ago

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Meticulous Research® projects the global energy infrastructure for EV charging stations to grow at a CAGR of 36% from 2022, reaching $20 billion by 2029.

Meticulous Research®, a distinguished global market research firm, has introduced 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.

Download Free Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5301

According to recent insights from Meticulous Research®, the Global Energy Infrastructure for EV Charging Stations Market is projected to grow at a remarkable CAGR of 36% from 2022, ultimately reaching an estimated value of $20 billion by 2029. This robust growth is primarily driven by various government initiatives promoting the adoption of electric vehicles (EVs) and the essential infrastructure to support them, coupled with rising demand for fast-charging solutions. However, the high costs of infrastructure components could restrain market growth. Additionally, the increasing trend of electric mobility in emerging economies and the proliferation of charging stations by retail multinational corporations are likely to create substantial opportunities for stakeholders. Nonetheless, challenges such as voltage dips at charging stations could impede overall market expansion.

The global energy infrastructure for the EV charging stations market is segmented based on component type, number of EVSE, energy source, and geographical regions. The study also evaluates industry competitors and analyzes market conditions at both the country and regional levels.

Component Breakdown

With respect to components, the global energy infrastructure for the EV charging stations market is categorized into transformers, electric distribution systems, heavy-duty cables, metering systems, power converters, energy storage systems, and solar PV panels. By 2022, the transformers segment is expected to hold the largest share of the global energy infrastructure for EV charging stations market. This growth can be attributed to the extensive application of transformers in powering electric vehicle charging solutions and ensuring power stability as per the requirements of charging stations. Conversely, the energy storage systems segment is anticipated to grow at the highest CAGR during the forecast period, driven by initiatives from OEMs and stakeholders aimed at developing energy storage systems for EV charging stations.

EVSE Segmentation Insights

Based on the number of EVSE, the global energy infrastructure for the EV charging stations market is categorized into less than 5 units, 5 to 15 units, and more than 15 units. In 2022, the less than 5 units segment is expected to capture the largest market share, fueled by growing investments from retail space owners & managers and fuel station owners integrating electric vehicle charging facilities. However, the 5 to 15 units segment is projected to witness the highest CAGR during the forecast period, supported by various government incentives, tax credits, and reimbursements promoting the commercial installation of charging stations.

Energy Source Insights

Regarding energy sources, the global energy infrastructure for the EV charging stations market is divided into renewable energy sources and non-renewable energy sources. By 2022, the non-renewable energy sources segment is projected to dominate the market, driven by government incentives and subsidies aimed at encouraging the acquisition of EVs and their corresponding charging infrastructure.

Regional Analysis

In terms of geography, the energy infrastructure for the EV charging stations market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is anticipated to hold the largest share of the global energy infrastructure for EV charging stations market. This growth is largely driven by the rising demand for EVs in countries such as China and Japan, alongside increased government initiatives focused on mitigating greenhouse gas emissions, thereby fostering greater EV adoption. On the other hand, Europe is projected to experience the highest CAGR during the forecast period, driven by governmental strategies aimed at advancing charging infrastructure throughout the region. Prominent countries leading in the EV and charging infrastructure sector include France, Germany, Netherlands, Norway, and the U.K..

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?