Global Energy Infrastructure for EV Charging Stations Market to Grow at 36% Reaching $20 Billion by 2029
DUBLIN, Sept. 28, 2022 /PRNewswire/ -- The "Energy Infrastructure for EV Charging Stations Market By Component, Number of EVSE, Energy Source, and Geography - Global Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The energy infrastructure for EV charging stations market is expected to reach $20.0 billion by 2029, at a CAGR of 36.0% during the forecast period 2022-2029.
The rising government initiatives to drive the adoption of EVs and associated infrastructure and the demand for EV fast-charging infrastructure are the key factors driving the growth of the global energy infrastructure for EV charging stations market. The high cost of infrastructure equipment is expected to restrain the growth of the global energy infrastructure for EV charging stations. In addition, the increasing adoption of electric mobility in emerging economies and the growing deployment of charging stations by retail MNCs are expected to create significant growth opportunities for the players operating in this market. However, the impact of voltage dips on electrical vehicle charging stations poses a challenge to the growth of this market.
The study offers a comprehensive analysis of the global energy infrastructure for EV charging stations market based on component (transformers, electric distribution systems, heavy-duty cables, metering systems, power converters, energy storage systems, and solar PV panels), number of EVSE (less than 5 units, 5 to 15 units, and more than 15 units), energy source (renewable energy sources, and non-renewable energy sources), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the market at the country and regional levels.
Based on component, in 2022, the transformers segment is estimated to account for the largest share of the global energy infrastructure for EV charging stations market. The growth of this segment is attributed to its wide usage for powering electric vehicle charging applications and maintaining power as per charging station requirements. However, the energy storage systems segment is expected to account for the highest CAGR during the forecast period due to various initiatives by OEMs and stakeholders which help develop ESS for EV charging stations.
Based on number of EVSE, in 2022, the less than 5 units segment is estimated to account for the largest share of the global energy infrastructure for EV charging stations market. The growth of this segment is driven by increasing investments by retail space owners & managers and fuel station owners to include electric vehicle charging on their premises. However, the 5 to 15 units segment is expected to account for the highest CAGR during the forecast period due to various government incentives, tax credits, and reimbursements for the commercial installation of charging stations.
Based on energy source, in 2022, the non-renewable energy sources segment is estimated to account for the largest share of the global energy infrastructure for EV charging stations market. The growth of this segment is attributed to government incentives and subsidies to purchase EVs and charging infrastructure.
Based on geography, in 2022, Asia-Pacific is estimated to account for the largest share of the global energy infrastructure for EV charging stations market. The growth of this segment is attributed to the growing demand for electric vehicles in countries such as China and Japan and rising government initiatives to reduce greenhouse gas emissions, which, in turn, is poised to increase the adoption of electric vehicles. However, Europe is expected to account for the highest CAGR during the forecast period.
Market Dynamics
Market Drivers
- Government Initiatives to Encourage EV Adoption and Develop the Associated Infrastructure
- Rising Demand for EV Fast-Charging Infrastructure
Market Restraints
- High Cost of Setting Up Energy Infrastructure
Market Opportunities
- Increasing Adoption of Electric Mobility in Emerging Economies
- Growing Deployment of EV Charging Stations by Retail MNCs
Market Challenges
- Impact of Voltage Fluctuations on EV Charging Stations
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
5. Market Insights
6. Global Energy Infrastructure Market for EV Charging Stations, by Component
7. Global Energy Infrastructure Market for EV Charging Stations, by Number of EVSE
8. Global Energy Infrastructure Market for EV Charging Stations, by Energy Source
9. Energy Infrastructure Market for EV Charging Stations, by Geography
10. Competitive Landscape
11. Company Profiles (Business Overview, Financial Overview, Products Portfolio, Strategic Developments)
12. Appendix
Companies Mentioned
- 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)
- Wilson Power Solutions (England).
For more information about this report visit https://www.researchandmarkets.com/r/44beur
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SOURCE Research and Markets
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