That is one of the main findings in a new report from ResearchandMarkets entitled "Energy Infrastructure for EV Charging Stations Market By Component, Number of EVSE, Energy Source, and Geography - Global Forecast to 2029".
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.
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 five 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 and managers and fuel station owners to include electric vehicle charging on their premises. However, the five 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.
