Meticulous Research®, a prominent global market research firm, has released a detailed report entitled, 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.
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According to the latest findings from Meticulous Research®, the Global Energy Infrastructure for EV Charging Stations Market is anticipated to grow at an impressive CAGR of 36% from 2022, with a projected value of $20 billion by 2029. This growth is driven by numerous government initiatives focused on accelerating the adoption of electric vehicles (EVs) and the essential infrastructure needed, coupled with a rising demand for fast-charging solutions. Nonetheless, the high costs associated with infrastructure components may impede market expansion. Furthermore, the increasing prevalence of electric mobility in emerging economies and the deployment of charging stations by global retailers present valuable opportunities for market stakeholders. Conversely, the challenges posed by voltage fluctuations at charging stations may impact overall growth.
The global energy infrastructure for the EV charging stations market is segmented based on component, number of EVSE, energy source, and geography. The study also evaluates competitive dynamics and analyzes the market at both national and regional levels.
Component Insights
In terms of components, the global energy infrastructure for the EV charging stations market is divided into transformers, electric distribution systems, heavy-duty cables, metering systems, power converters, energy storage systems, and solar PV panels. By the end of 2022, the transformers segment is expected to dominate the global energy infrastructure for EV charging stations market. The growth of this segment is primarily attributed to its extensive role in powering electric vehicle charging applications and regulating power supply according to charging station needs. However, the energy storage systems segment is projected to achieve the highest CAGR during the forecast period, driven by various initiatives from OEMs and stakeholders aiming to enhance energy storage solutions for EV charging stations.
EVSE Distribution Analysis
In terms of the number of EVSE, the global energy infrastructure for the EV charging stations market is segmented into less than 5 units, 5 to 15 units, and more than 15 units. By 2022, the less than 5 units segment is anticipated to capture the largest share of the market, propelled by increased investments from retail space owners managers and fuel station operators looking to integrate electric vehicle charging stations into their offerings. Conversely, the 5 to 15 units segment is expected to witness the highest CAGR during the forecast period, supported by various government incentives, tax credits, and reimbursements for commercial installations of charging infrastructure.
Energy Source Segmentation
In terms of energy sources, the global energy infrastructure for the EV charging stations market is divided into renewable energy sources and non-renewable energy sources. By the end of 2022, the non-renewable energy sources segment is projected to dominate the market, influenced by government incentives and subsidies aimed at promoting the acquisition of EVs and their associated charging infrastructure.
Geographic Breakdown
Geographically, the energy infrastructure for the EV charging stations market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. By 2022, Asia-Pacific is expected to account for the largest share of the global energy infrastructure for EV charging stations market. This growth is largely driven by the increasing demand for EVs in countries like China and Japan, coupled with government initiatives designed to reduce greenhouse gas emissions, which in turn encourages greater EV adoption. In contrast, Europe is projected to achieve the highest CAGR during the forecast period, propelled by government strategies aimed at enhancing charging infrastructure throughout the region. Leading countries in the EV and charging point market include France, Germany, Netherlands, Norway, and the U.K..
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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), RS 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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