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.
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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. 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.
Europe EV Charging Infrastructure Strategic Insights
Strategic insights for the Europe EV Charging Infrastructure provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
Market leaders and key company profiles
- ABB Ltd.
- Blink Charging Co.
- BOSCH Auto Parts
- Delta Electronics, Inc.
- Driivz Ltd.
- Eaton
- EVBox
- Leviton Manufacturing Co., Inc.
- Siemens AG
- Tesla, Inc.
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