The Europe EV charging infrastructure market is expected to grow from US$ 2,561.65 million in 2021 to US$ 7,781.43 million by 2028. It is estimated to grow at a CAGR of 17.2% from 2021 to 2028.
Surge in Production and Sales of Electric Vehicles
The rising concern of the transportation sector’s impact on the environment has led to an unprecedented requirement of decarbonizing transportation to meet climate goals and limit global warming, thereby increasing the adoption of low carbon technology in the transportation sector. The rising concerns for the adverse impact of transportation-related emissions and shift of consumer behavior toward zero-emission vehicles have resulted in a significant increase in the adoption of light-duty passenger vehicles across the region.
Additionally, the ever-rising demand for electric vehicles is fueled through huge investments made by automotive giants in the research, development, and production of electric vehicles. Furthermore, with the fall in prices of EVs and the availability of a greater number of models, electric vehicle production is set for exponential growth in an increasing number of countries, subject to their overall economic growth and policy support from the government. Further, AC level 2 charge points constitute the largest portion of passenger-car charging stations, typically installed at homes, workplaces, and temporary destinations like stores or street parking. Additionally, the need for high-power commercial DC fast chargers to power the large batteries deployed in heavy-duty electric vehicles is further driving the EV charging infrastructure market.
Therefore, the promising growth of the EV charging infrastructure market is being driven by the massive surge in the adoption of electric vehicles across the region, marked by a rise in demand and production.
📚 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐂𝐨𝐩𝐲@ https://www.businessmarketinsights.com/sample/TIPRE00028817
Market Overview
When it comes to adopting electric mobility, the EU countries are among the frontrunners. The popularity of electric cars (EVs) has been steadily increasing in Europe since they first appeared on the market. About 1.4 million battery-electric cars (BEVs) and plug-in hybrid electric vehicles (PHEVs) were registered in 2020 in this region, a 137% increase over 2019. Aside from growing electric vehicle sales, the EV infrastructure is rapidly evolving. Between 2010 and 2020, Europe saw a fast expansion in available infrastructure for charging electric vehicles. However, from two in 2010 to eleven in 2020, the number of electric vehicles per charging station has increased to some extent. To put it another way, 11 automobiles must share a single publicly accessible charging station.
📚𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐋𝐢𝐧𝐤 @ https://www.businessmarketinsights.com/reports/europe-ev-charging-infrastructure-market
More charging stations must be built across Europe for electric vehicles to retain their upward trend and success, culminating in market expansion in the continent. According to the ACEA 2021 edition of the yearly ‘Making the Transition to Zero-Emission Mobility’ study, EV infrastructure has been quite uneven across Europe. There are approximately 224,237 electric vehicle charging stations in this region. Three countries, i.e., The Netherlands, Germany, and France, account for 70% of all EV charging points in Europe. The Netherlands has 66,665 electric vehicle charging stations, France has 45,751, and Germany has 44,538. These countries account for only 23% of the overall surface area of this region. Strangely, ten countries have fewer than one electric vehicle charging facility every 100 kilometers of road. There should be an abundance of electric vehicle charging stations in an ideal world in at least all cities and along all European motorways. The station rollout should be more evenly distributed, as there are now barriers to electric car travel across this region. As a result, the region’s market will be propelled by the growing requirement to stabilize the distribution of electric vehicle charging stations.
𝐓𝐡𝐞 𝐋𝐢𝐬𝐭 𝐨𝐟 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
ABB Ltd.
Blink Charging Co.
BOSCH Auto Parts
Delta Electronics, Inc.
Driivz Ltd.
Eaton
EVBox
Leviton Manufacturing Co., Inc.
Siemens AG
Tesla, Inc.
Segments Covered
By Platform
- Hardware
- Services
By Hardware
- AC Charger
- DC Charger
By Charger Type
- Public Chargers
- Private Chargers
By IEC Mode
- 2
- 3
- 4
Europe EV Charging Infrastructure Market Segmentation
The Europe EV Charging Infrastructure Market is segmented based on operator type, platform, hardware, charger type, IEC mode, and country.
- Based on operator type, the Europe EV charging infrastructure market is bifurcated into charge point operator and e-mobility service providers. Charge point operator segment held a larger market share in 2021.
- Based on platform, the Europe EV charging infrastructure market is bifurcated into hardware and services. Hardware segment held a larger market share in 2021.
- Based on hardware, the Europe EV charging infrastructure market is bifurcated into AC charger and DC charger. AC charger segment held a larger market share in 2021. The AC charger segment is further divided into level 1 charger (120 v) and level 2 charger (240 v).
- Based on charger type, the Europe EV charging infrastructure market is bifurcated into public chargers and private chargers. Private chargers segment held a larger market share in 2021.
- Based on country, the Europe EV charging infrastructure market is segmented into the UK, Germany, France, Italy, Russia, and rest of Europe. The UK dominated the market in 2021.
Location and accessibility play pivotal roles in user adoption. Charging stations must be strategically placed in high-traffic areas, residential neighborhoods, workplaces, shopping centers, and along major highways to ensure convenient access for EV drivers. Furthermore, the integration of smart charging technologies is essential for optimizing grid efficiency and managing peak demand. Smart charging enables dynamic control of charging rates based on grid conditions, time-of-use tariffs, and renewable energy availability, thereby mitigating the potential strain on the electricity grid caused by widespread EV adoption. Grid integration is a critical aspect of EV charging infrastructure development. The increasing penetration of EVs necessitates significant upgrades to the existing electricity grid to handle the additional load.
This includes strengthening distribution networks, deploying smart grid technologies, and integrating renewable energy sources. The integration of renewable energy sources, such as solar and wind power, into EV charging infrastructure can further enhance the sustainability of electric transportation. Solar-powered charging stations and battery storage systems can provide clean and reliable energy for EV charging, reducing reliance on fossil fuels. Regulatory frameworks and government policies play a crucial role in driving the development of EV charging infrastructure.
𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:
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