Energy Infrastructure for EV Charging Stations Market - Global Opportunity Analysis And Industry Forecast (2022-2029) |Download Sample Report | Meticulous Market Research Pvt. Ltd.
Meticulous Research®, a top-tier global market research company, has issued 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 forecasts that the global energy infrastructure market for EV charging stations will grow at a notable CAGR of 36% from 2022, with expectations of reaching a market value of $20 billion by 2029.
The expansion of this market is primarily driven by governmental initiatives aimed at accelerating the adoption of electric vehicles (EVs) and the requisite infrastructure, as well as the increasing demand for rapid EV charging solutions. Despite these growth drivers, the high costs associated with infrastructure equipment may act as a significant constraint. However, the growing adoption of electric mobility in developing regions and the rising installation of EV charging stations by international retail chains are expected to offer substantial opportunities for market players. The market also faces challenges, including the impact of 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), energy source, and geographic region. The report provides a detailed analysis of industry competitors and assesses the market at both country and regional levels.
Component-wise, the market is divided 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 dominate the market, holding the largest share due to its widespread use in powering and managing EV charging stations. However, the energy storage systems segment is expected to grow at the highest CAGR over the forecast period, driven by ongoing developments in advanced energy storage solutions by OEMs and other stakeholders.
When categorized by the number of EVSE units, the market is divided 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, driven by increased investments from retail space owners and fuel station operators integrating EV charging capabilities. Conversely, the 5 to 15 units segment is anticipated to achieve the highest CAGR during the forecast period, bolstered by government incentives and reimbursement programs aimed at promoting the commercial installation of EV charging infrastructure.
Regarding energy sources, the market is segmented into renewable and non-renewable energy sources. The non-renewable energy sources segment is forecasted to capture the largest market share in 2022, supported by government incentives and subsidies for the purchase of EVs and the development of EV charging infrastructure. However, the renewable energy sources segment is likely to gain momentum as sustainability becomes a more prominent global focus.
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 expected to lead the market in 2022, driven by growing demand for EVs in China and Japan, along with supportive government policies aimed at reducing greenhouse gas emissions. Europe is projected to experience the highest CAGR during the forecast period, with growth driven 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 be at the forefront of EV adoption and the establishment of charging points.
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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?
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