Forecast: EV Charging Infrastructure Market Reaches $20 Billion by 2029

Rajul123

posted on 1 month ago — updated on 1 second ago

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According to Meticulous Research®’s latest report, the Global Energy Infrastructure for EV Charging Stations Market is anticipated to grow at a 36% CAGR from 2022, reaching $20 billion by 2029.

Meticulous Research®, a premier global market research company, has unveiled a new 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." According to this report, the global market for energy infrastructure dedicated to EV charging stations is projected to experience a robust CAGR of 36% from 2022, aiming to reach a market size of $20 billion by 2029.

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

The primary drivers of this market growth include governmental policies promoting the adoption of electric vehicles (EVs) and the development of necessary infrastructure, as well as an increased demand for efficient EV fast-charging solutions. However, the high costs associated with infrastructure equipment could present a significant challenge to market growth. Nevertheless, the expanding adoption of electric mobility in emerging markets and the growing deployment of EV charging stations by major retail corporations are expected to present new opportunities for market stakeholders. The industry also faces challenges related to voltage dips at EV charging stations, which could affect the growth trajectory of the market.

The global energy infrastructure for EV charging stations market is segmented based on components, the number of Electric Vehicle Supply Equipment (EVSE) units, energy sources, and geographic regions. The report includes a competitive analysis of key industry players and provides insights into the market at both country and regional levels.

In terms of components, the market is divided into transformers, electric distribution systems, heavy-duty cables, metering systems, power converters, energy storage systems, and solar PV panels. The transformers segment is expected to capture the largest market share in 2022, driven by its extensive use in powering EV charging stations and managing power supply requirements. On the other hand, the energy storage systems segment is anticipated to achieve the highest CAGR during the forecast period, supported by initiatives from Original Equipment Manufacturers (OEMs) and other stakeholders to advance energy storage solutions for EV charging stations.

By the number of EVSE units, the market is segmented into less than 5 units, 5 to 15 units, and more than 15 units. The segment with fewer than 5 units is expected to dominate the market in 2022, largely due to increased investments from retail property owners, managers, and fuel station operators incorporating EV charging facilities. However, the 5 to 15 units segment is projected to grow at the highest CAGR during the forecast period, thanks to government incentives, tax breaks, and reimbursement programs for commercial EV charging installations.

Regarding energy sources, the market is categorized into renewable and non-renewable energy sources. The non-renewable energy sources segment is forecasted to hold the largest share of the market in 2022, fueled by government incentives and subsidies aimed at supporting the purchase of EVs and the development of EV charging infrastructure based on these sources. As sustainability becomes increasingly important, the renewable energy sources segment is expected to gain traction over time.

Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, the Asia-Pacific region is projected to lead the market, driven by the growing demand for EVs in countries such as China and Japan, alongside strong governmental initiatives aimed at reducing greenhouse gas emissions. Conversely, Europe is anticipated to experience the highest CAGR during the forecast period, driven by extensive government efforts to build a comprehensive EV charging infrastructure. Leading European countries such as France, Germany, the Netherlands, Norway, and the United Kingdom are expected to play significant roles in advancing EV adoption and the expansion of charging points 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?