What is the global market size of Energy Infrastructure for EV Charging Stations Market?

Global Energy Infrastructure for EV Charging Stations Market size was valued at USD 16.6 billion in 2021 and is poised to grow from USD 21.66 billion in 2022 to USD 182.22 billion by 2030, growing at a CAGR of 30.5% in the forecast period (2023-2030).

Global Energy Infrastructure for EV Charging Stations Market Size, Share, Growth Analysis, By Component(transformers, electric distribution systems), By Energy source(renewable energy sources and non-renewable energy sources) - Industry Forecast 2024-2031

Report ID: SQMIG25A2049 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 65 | Figures: 75

Global Energy Infrastructure for EV Charging Stations Market Insights

Global Energy Infrastructure for EV Charging Stations Market size was valued at USD 16.6 billion in 2019 and is poised to grow from USD 21.66 billion in 2023 to USD 182.22 billion by 2031, growing at a CAGR of 30.5% in the forecast period (2024-2031).

A power transmission system that assists in powering the location where one or more EVSEs are situated is referred to as energy infrastructure for EV charging stations. These locations may be commercial or non-residential. Electric power is supplied through charging stations for electric vehicles, which is then used to extend the vehicle's range. These features make it more desirable than other alternatives in the global market. Electrical conductors, associated hardware, software, and communications protocols are used in electric vehicle charging stations, also known as charging piles, charging docks, or EVSE, to transfer energy to the car effectively and safely.

Electric mobility is receiving more funding from governments around the world. The government initiatives in the form of subsidies & tax rebates for the adoption of electric cars, as well as the government's increasing regulations to phase out fossil fuel-powered vehicles, investments in public EV charging infrastructure improvement, and investments in these areas are anticipated to support the growth of this market. Governments throughout the world are promoting the switch to electric vehicles as a sustainable public and private transportation model in light of recent improvements in electric drivetrain technology. Governments are progressively offering incentives and subsidies to buy EVs and related charging infrastructure in light of the environmental advantages given by these vehicles, which helps increase the demand for energy infrastructure for EV charging stations.

US Energy Infrastructure For EV Charging Stations Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Energy Infrastructure for EV Charging Stations Market Report Snapshots

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The global market consists of various regional and international players. Players in the market are adopting various strategies such as mergers & acquisitions, collaborations, and investments to stay ahead of the competition. Various new players are entering the regional market. 'Tesla', 'ChargePoint', 'ABB Group', 'Schneider Electric', 'Siemens AG', 'General Electric Company', 'Eaton Corporation plc', 'Leviton Manufacturing Co., Inc.', 'AeroVironment, Inc.', 'ClipperCreek, Inc.', 'EVBox', 'BP Chargemaster', 'Shell Recharge', 'Ionity', 'Electrify America', 'Enel X', 'Greenlots', 'EVgo', 'SemaConnect', 'FLO'

The key factors driving the growth of the global energy infrastructure for EV charging stations market are government initiatives to drive the adoption of EVs and associated infrastructure, as well as rising demand for EV fast-charging infrastructure. The market's players can anticipate considerable development prospects as a result of the rising use of electric mobility in emerging nations and the expanding deployment of charging stations by retail MNCs.

Government Initiatives to Promote EV Adoption and Build the Necessary Infrastructure is boosting demand for EV Fast-Charging Infrastructure Demand

Asia-Pacific is expected to account for the majority of the global energy infrastructure for the EV charging stations market by 2022. This segment's growth can be attributed to rising EV demand in countries such as China and Japan, as well as rising government initiatives to reduce greenhouse gas emissions, which are expected to increase EV adoption. Europe, on the other hand, is expected to grow at the fastest CAGR during the forecast period. Government initiatives to develop charging infrastructure across the region are driving growth in this market.

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Global Energy Infrastructure for EV Charging Stations Market Size, Share, Growth Analysis, By Component(transformers, electric distribution systems), By Energy source(renewable energy sources and non-renewable energy sources) - Industry Forecast 2024-2031

Global Energy Infrastructure for EV Charging Stations Market Insights

Global Energy Infrastructure for EV Charging Stations Market Report Snapshots

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