Market Forecast By Types(AC Charger, DC Charger), By Applications(Residential, Commercial & Others), By Key Countries(Norway, United Kingdom, Sweden, Germany & Rest of Europe)and competitive landscape
Product Code: ETC001953 | Publication Date: Dec 2023 | Updated Date: Jan 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 | |
The Europe EV Charging Infrastructure Market report thoroughly covers the market by type, by application, by countries and competitive Landscape. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Electric vehicles play a crucial role in reducing carbon emissions and creating a sustainable future for the planet. With the increasing adoption of electric vehicles in Europe, the demand for efficient and reliable charging infrastructure has seen an unprecedented surge. Additionally, Europe is one of the global leaders in the electric vehicle charging infrastructure market. The market has seen immense growth in recent years and is expected to continue surging at an exponential rate. The key trend of the market is the growing adoption of electric vehicles, mainly in urban areas, and the increasing demand for fast-charging stations. The increasing use of renewable energy-based charging stations and investments toward the development of intelligent charging infrastructure are also significant trends driving the market. However, the growth of the Europe electric vehicle charging infrastructure industry faces some challenges. The high cost of fast-charging infrastructure and the scarcity of land in urban areas for installing charging stations are among the primary challenges. Additionally, the lack of unified standards for charging infrastructure and compatibility issues between charging stations and vehicles pose a challenge to the market's growth. As the market expands, these challenges are expected to be overcome with the development of advanced technologies and standardization.
According to 6Wresearch, Europe EV Charging Infrastructure Market size is projected to grow at a CAGR of 34.8% during 2024-2030. The Europe Electric Vehicle Charging Infrastructure Market promises to be one of the largest and most dynamic markets in the coming years. The increasing adoption of electric vehicles and the push towards a sustainable future are expected to drive the market's growth. In Europe, many countries are already taking big strides towards the deployment of electric vehicles. With transportation being the largest source of greenhouse gas emissions in the European Union, the need for cleaner modes of transport is more important than ever. One critical factor necessary for the widespread adoption of electric vehicles is the electric vehicle charging infrastructure. Additionally, technological advancements are driving the adoption of electric vehicles globally, particularly in Europe. There have been significant advancements in the manufacturing of EV batteries, which have contributed to the growth of the EV market. Additionally, as the cost of lithium-ion batteries falls, the price of EVs decreases, making them more affordable to the average consumer. Further, the deployment of Electric Vehicle (EV) charging infrastructure is another critical factor driving the growth of the EV market in Europe. As more charging stations are installed, range anxiety reduces for electric vehicle owners, making EVs a viable mode of transport. In Europe, there are currently over 200,000 public charging points according to the European Alternative Fuels Observatory.
The governments have a significant role to play in promoting the adoption of electric vehicles. Many European governments have set aside resources to encourage the deployment of EVs, including offering subsidies and exemptions from taxes and tolls. For instance, the Norwegian government has provided incentives that make electric vehicles more affordable than traditional combustion-engine vehicles. Further, these actions by governments have reinforced the overall Norway EV Charging Infrastructure Market share. Moreover, the Norway’s Electric Vehicle Association reports that about 54,000 EVs were registered in the country in 2020, which was an increase of over 70% from the previous year.
The key players in the EV charging infrastructure market in Europe are playing a crucial role in the shift towards electric mobility. Companies such as ABB, EVBox Group, Siemens AG, ChargePoint, and Allego are among the notable players in the European market. ABB, for instance, offers a range of EV charging infrastructure solutions, including fast-charging solutions and modern remote service technologies. EVBox Group offers smart charging solutions and has installed over 200,000 charging stations worldwide. Siemens AG is another prominent player in the EV charging infrastructure market with advanced solutions such as home and public charging stations and energy management systems. Moreover, some of the major companies hold a substantial Europe Electric Vehicle Charging Infrastructure Market share. Additionally, ChargePoint offers a broad range of EV charging services, including commercial and residential charging solutions, while Allego specializes in public charging solutions and EV charging management systems.
According to Ravi Bhandari, Research Head, 6Wresearch, AC (alternating current) charging is the most common type of charging for EVs and is typically used for home charging, workplaces, and public parking facilities in Europe. AC chargers are relatively cheaper than DC chargers. They are available in different power outputs ranging from 3.6 kW to 22 kW. While a 3.6 kW charger takes around 8-9 hours to fully charge an EV, 22 kW can charge a vehicle in less than two hours. AC charging is ideal for EV drivers who require a slow, overnight charge or a top-up during the day. Whereas, while AC charging is suitable for most charging scenarios, DC (direct current) charging offers faster charging rates, making it a popular choice for long-distance journeys. DC charging stations are typically found along highways, public charging facilities, and service stations. These chargers supply high-voltage power (over 400V) directly to the vehicle's battery, resulting in a faster charge than AC chargers. DC charging stations range from 50 kW to 350 kW, with the latter capable of delivering a charge of up to 1,000 km in under 15 minutes. DC charging infrastructure is particularly essential to the adoption of fast-charging EVs.
There are two types of applications for EV charging infrastructure in Europe, namely residential and commercial. In the residential application. The home charging stations are a popular option amongst EV owners as they provide convenience and ease of use. With the advancement in technology, EV owners can now monitor and control their home charging stations through mobile apps, making it much more accessible. Whereas, the commercial charging stations are installed in public spaces such as malls, parking lots, and office buildings, amongst others. Additionally, the commercial charging infrastructure accounts for significant Europe EV Charging Infrastructure Market revenues. As EVs have a longer range, commercial charging stations need to provide faster charging options. Fast charging stations, which are gaining popularity, can charge an EV up to 80% in approximately 30 minutes.
The Europe EV Charging Infrastructure Market report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights of The Report |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Europe Electric Vehicle Charging Infrastructure Market Overview |
3.1 Europe Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
3.2 Europe Electric Vehicle Charging Infrastructure Market Revenue Share, By Types, 2020 & 2030F |
3.3 Europe Electric Vehicle Charging Infrastructure Market Revenue Share, By Applications, 2020 & 2030F |
3.4 Europe Electric Vehicle Charging Infrastructure Market Revenue Share, By Countries, 2020 & 2030F |
3.5 Europe Electric Vehicle Charging Infrastructure Market Industry Life Cycle |
3.6 Europe Electric Vehicle Charging Infrastructure Market- Porter’s Five Forces |
4. Europe Electric Vehicle Charging Infrastructure Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Europe Electric Vehicle Charging Infrastructure Market Trends |
6. Europe Electric Vehicle Charging Infrastructure Market Overview, By Types |
6.1 Europe Electric Vehicle Charging Infrastructure Market Revenues, By AC Charger, 2020-2030F |
6.2 Europe Electric Vehicle Charging Infrastructure Market Revenues, By DC Charger, 2020-2030F |
7. Europe Electric Vehicle Charging Infrastructure Market Overview, By Applications |
7.1 Europe Residential Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
7.2 Europe Commercial Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
7.3 Europe Others Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
8. Norway Electric Vehicle Charging Infrastructure Market Overview |
8.1 Norway Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
8.2 Norway Electric Vehicle Charging Infrastructure Market Revenues, By Types, 2020-2030F |
8.3 Norway Electric Vehicle Charging Infrastructure Market Revenues, By Applications, 2020-2030F |
9. United Kingdom Electric Vehicle Charging Infrastructure Market Overview |
9.1 United Kingdom Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
9.2 United Kingdom Electric Vehicle Charging Infrastructure Market Revenues, By Types, 2020-2030F |
9.3 United Kingdom Electric Vehicle Charging Infrastructure Market Revenues, By Applications, 2020-2030F |
10. Sweden Electric Vehicle Charging Infrastructure Market Overview |
10.1 Sweden Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
10.2 Sweden Electric Vehicle Charging Infrastructure Market Revenues, By Types, 2020-2030F |
10.3 Sweden Electric Vehicle Charging Infrastructure Market Revenues, By Applications, 2020-2030F |
11. Germany Electric Vehicle Charging Infrastructure Market Overview |
11.1 Germany Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
11.2 Germany Electric Vehicle Charging Infrastructure Market Revenues, By Types, 2020-2030F |
11.3 Germany Electric Vehicle Charging Infrastructure Market Revenues, By Applications, 2020-2030F |
12. Rest of Europe Electric Vehicle Charging Infrastructure Market Overview |
12.1 Rest of Europe Electric Vehicle Charging Infrastructure Market Revenues, 2020-2030F |
13. Europe Electric Vehicle Charging Infrastructure Market Key Performance Indicators |
14. Europe Electric Vehicle Charging Infrastructure Market Opportunity Assessment |
14.1 Europe Electric Vehicle Charging Infrastructure Market Opportunity Assessment, By Types, 2025F |
14.2 Europe Electric Vehicle Charging Infrastructure Market Opportunity Assessment, By Applications, 2025F |
15. Europe Electric Vehicle Charging Infrastructure Market Competitive Landscape |
15.1 Europe Electric Vehicle Charging Infrastructure Market Revenue Share, By Companies, 2023 |
15.1.1 Norway Electric Vehicle Charging Infrastructure Market Revenue Share, By Companies, 2023 |
15.1.2 United Kingdom Electric Vehicle Charging Infrastructure Market Revenue Share, By Companies, 2023 |
15.1.3 Sweden Electric Vehicle Charging Infrastructure Market Revenue Share, By Companies, 2023 |
15.1.4 Germany Electric Vehicle Charging Infrastructure Market Revenue Share, By Companies, 2023 |
15.2 Europe Electric Vehicle Charging Infrastructure Market Competitive Benchmarking, By Operating Parameters |
16. Company Profiles |
17. Strategic Recommendations |
18. Disclaimer |
Market Forecast By Types(AC Charger, DC Charger), By Applications(Residential, Commercial & Others), By Key Countries(Norway, United Kingdom, Sweden, Germany & Rest of Europe)and competitive landscape
Product Code: ETC001953 | Publication Date: May 2022 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 200 | No. of Figures: 90 | No. of Tables: 30 |
Europe electric vehicle charging infrastructure market is anticipated to foster growth owing to a smart charging infrastructure network all across the region. Increased government focus on electromobility and addressing rising harmful gas emissions across the region is further anticipated to steer up the Europe electric vehicle charging infrastructure market Growth over the coming years.
According to 6Wresearch, Europe Electric Vehicle Charging Infrastructure Market is expected to grow at a CAGR of 33.6% during 2019-2025. As per European Union's plans to reduce the environmental harm due to carbon emissions, the government has passed budgets to develop electric vehicle charging infrastructure in the region. Moreover, several incentives provided by the government are also further expected to benefit the growth of the electric vehicle charging infrastructure market over the coming years.
Norway electric vehicle charging infrastructure market is the leading market across the European region. The country has the highest number of charging stations coupled with the largest number of registered electric vehicles to date. Sweden, France, and Germany's electric vehicle charging infrastructure markets are further leading after Norway's electric vehicle charging infrastructure market. The introduction of various tax rebates and generous incentives would additionally bring more avenues for the growth of the electric vehicle charging infrastructure market in the aforementioned developed countries of the region over the coming years.
The Europe electric vehicle charging infrastructure market report thoroughly covers the market by types, applications, and countries including South Korea, Germany, Sweden, the United Kingdom, and the rest of Europe. The Europe electric vehicle charging infrastructure market outlook report provides an unbiased and detailed analysis of the ongoing European electric vehicle charging infrastructure market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Europe Electric Vehicle Charging Infrastructure Market is anticipated to foster growth owing to a smart charging infrastructure network all across the region. increased Government focus on electromobility and addressed rising harmful gas emissions across the region is further anticipated to steer up the Europe Electric Vehicle Charging Infrastructure Market in the coming years. “The shift towards electromobility would not only benefit the electric vehicle charging infrastructure market but also the environment and economy as a whole”, further asserts the European Union. Moreover, several incentives provided by the government are also further expected to benefit the growth of the electric vehicle charging infrastructure market in the coming years. Norway's electric vehicle charging infrastructure market is the leading market across the European region. The country has the highest number of charging stations coupled with the largest number of registered electric vehicles to date. Sweden, France, and Germany electric vehicle charging infrastructure markets are further leading after Norway's electric vehicle charging infrastructure market. The introduction of various tax rebates and generous incentives would additionally bring more avenues for the growth of the electric vehicle charging infrastructure market in the aforementioned developed countries of the region in the coming years.
Europe electric vehicle charging infrastructure market is expected to witness a proliferation in the coming timeframe on the back of an increase in the efforts of the government of the country is aiming for at least a 40 percent reduction in the carbon gas emissions by the year 2030 and is focusing on deploying green transport as one of its strategies. Furthermore, the electric vehicle charging infrastructure market has a lot of financial support from the government’s end towards the implementation of several new plans and policies for the reduction of carbon emissions in the developed and developing economies across the region and is expected to trigger significant growth prospects for the market. on the basis of country, the Norway Electric Vehicle Charging Infrastructure Market is anticipated to foresee growth on the back of the rising adoption of electric vehicles in the country. The country has been witnessed possessing a vast network of electric vehicle charging infrastructure in the past years and would register many new establishments in the coming years. The country is the largest market for electric vehicles registering the fastest growth each year which is directly providing propulsion to the growth of electric vehicle charging infrastructure as well.
Growing number of EV charging stations in Europe owing to surging sales of an electric vehicle is expected to drive the growth of the market. However, the lack of standardization of charging infrastructure and primitive technology is one of the restraining factors in the development of the market.
Europe electric vehicle charging infrastructure market is expected to gain momentum in the coming years on the back of the rising manufacturing of electric vehicles domestically. Additionally, several countries in Europe like the Northway, Netherland has been securing massive demand for electric vehicles and tend to influence government to develop charging stations in order to cope with growing electric vehicles adoption is estimated to be a growth prospective factor and impact favorably over the market growth in the coming timezone. Additionally, the United Kingdom government has announced the replacement of diesel vehicles with electric vehicles by 2030 and concurrently elevating government investment in the development of charging station infrastructure. Moreover, the German electric vehicle charging infrastructure market is estimated to generate high sales revenues in the coming years on the back of rising government initiative by developing electric vehicle chargers in the established petrol pumps is expected to spur the potential growth of Europe electric vehicle charging infrastructure market in the coming timezone.
The Europe electric vehicle charging infrastructure market report provides a detailed analysis of the following market segments: