US+1 646-781-8004
Europe+44-203-868-8738
APAC+91-744-778-0008
sales@meticulousresearch.com
HomePress-release
Redding, California - November 2, 2022

Europe EV Charging Stations Market is Expected to Reach $56.03 Billion and 6,158.8 Thousand Units by 2029

Europe Electric Vehicle Charging Stations Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph, Connector, Wireless), Component, Mounting Type, Vehicle Type, End User, and Geography— Global Forecast to 2029


Meticulous Research®a leading global market research company, published a research report titled European Electric Vehicle Charging Stations Market by Charging Type (Level 1, Level 2, DCFC), Connection Type (Pantograph, Connector, Wireless), Component, Mounting Type, Vehicle Type, End-user, and Geography— Global Forecast to 2029.

The European electric vehicle charging stations market is projected to reach $56.03 billion by 2029, at a CAGR of 31.5% by value from 2022 to 2029. Based on volume, this market is projected to reach 6,158.8 thousand units by 2029, at a CAGR of 35.5% during the forecast period. The growth of this market is mainly driven by the increasing government initiatives to drive the adoption of EVs and associated infrastructure, the rising demand for EV fast-charging infrastructure, and the increasing prevalence of range anxiety. France, Germany, Netherlands, Norway, and the U.K. are five front-runner countries for electric vehicles and charging points across the region. However, the high installation costs of charging stations are expected to obstruct market growth to some extent during the forecast period. Increasing R&D in V2G technology and the growing deployment of charging stations by retail MNCs are expected to provide attractive growth opportunities to the players operating in this market.

The market is segmented based on charging type, connection type, vehicle type, mounting type, component, end user, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on charging type, the European electric vehicle charging stations market is mainly segmented into Level 1, Level 2, and DC fast charging. In 2022, the Level 2 segment is expected to account for the largest share of the European electric vehicle charging stations market. The large share of this segment is mainly attributed to factors such as government initiatives to improve electric vehicle charging infrastructure in the region, lower installation cost compared to DC fast-charging stations, and greater efficiency in terms of less charging time than Level 1 charging stations. However, the DC fast charging segment is expected to witness significant growth in both value and volume, as DC fast chargers offer faster charging than level 1 and level 2.

Based on connection type, the European electric vehicle charging stations market is segmented into pantograph, connectors, and wireless EV charging. In 2022, the connectors segment is expected to account for the largest share of the European electric vehicle charging stations market. The large share of this segment is mainly attributed to increasing investment by stakeholders of electric mobility in the region for developing EV charging infrastructure, increasing collaboration between electric vehicle charging station providers and utility companies and fuel station operators to deploy charging stations for electric vehicles, and increasing collaboration between government and automakers to expand the DC fast-charging station infrastructure in the region. However, the wireless EV charging segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing implementation and adoption of wireless charging infrastructure in Europe.

Based on component, the European electric vehicle charging stations market is segmented into hardware, software, and services. In 2022, the hardware segment is expected to account for the largest share of the European electric vehicle charging stations market. The large market share of this segment is mainly attributed to infrastructural developments supporting the transition to electric mobility, the increasing demand for EV charging stations for long-range travel, and attractive fiscal and non-fiscal incentive plans for setting up manufacturing units of EV charging stations and related components. However, the software segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing adoption of various software to overcome energy consumption challenges and optimize charging station operations.

Based on mounting type, the European electric vehicle charging stations market is segmented into wall mount, pedestal mount, and ceiling mount. In 2022, the wall mount segment is expected to account for the largest share of the European electric vehicle charging stations market. The large share of this segment is mainly attributed to increasing fiscal and non-fiscal incentives to private property owners and management companies for the development of EV charging infrastructure, easy installation process, and effective space utilization by wall-mounted chargers. However, the pedestal mount segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to product launches in the pedestal-mounted EV charging stations segment and the increasing R&D in emerging technologies.

Based on vehicle type, the European electric vehicle charging stations market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers & scooters. In 2022, the passenger cars segment is expected to account for the largest share of the European electric vehicle charging stations market. The large market share of this segment is mainly attributed to increasing favorable government policies and subsidies for promoting the adoption of electric vehicles, the growing awareness about the role of electric vehicles in reducing emissions, the increasing fuel prices, and the growing initiatives by automotive OEMs to increase their presence in electric mobility space. However, the heavy commercial vehicle segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing adoption of electric buses and trucks for public transport and freight services.

Based on end user, the European electric vehicle charging stations market is segmented into commercial and residential EV charging stations. In 2022, the commercial EV charging stations segment is expected to account for the largest share of the European electric vehicle charging stations market. The large market share of this segment is mainly attributed to the increasing government initiatives across the region in the form of incentives, tax credits, and subsidies for the deployment of EV charging stations at commercial sites. Moreover, this segment is projected to register the highest CAGR during the forecast period.

Based on geography, in 2022, Germany is expected to account for the largest share of the European electric vehicle charging stations market by both value and volume. The large share of this market is mainly attributed to rising government investments regarding the purchase of electric buses, the development of the charging infrastructure, and incentives to purchase electric vehicles. For instance, in November 2020, the German automobile industry agreed to increase joint subsidies to purchase electric cars from 2020 to 2025. Under the agreement, consumer subsidies have been increased from USD 4,400 to around USD 6,700 for electric vehicles costing less than EUR 40,000 (USD 44,500). The purchasers of plug-in hybrids in this price range are given a subsidy of EUR 4,500, up from EUR 3,000. Such initiatives aim to address concerns with electric vehicles' high purchasing costs, thereby augmenting the demand for electric vehicles and associated charging infrastructure.

The U.K. is expected to account for the second-largest share of the European electric vehicle charging stations market by value. The growth in this market is mainly driven by the growing investment and government incentives for the installation of charging infrastructure in the country, the growing incorporation of electric buses in public transport fleet, and focused efforts by the government to make central London and town centers across the U.K zero-emission zones by 2025.

Key Players:

 The key players operating in the European electric vehicle charging stations market are Webasto Group (Germany), EVBox Group (Netherlands), BP p.l.c. (U.K.), Royal Dutch Shell plc (Netherlands), Connected Kerb Limited (U.K.), Électricité de France (France), Fastned B.V. (Netherlands), Route220 S.r.l.(Italy), Compleo Charging Solutions AG (Germany) and GreenWay Holding S.A (Slovakia).

Download Free Sample PDF Copy Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5277

Key Questions Answered in the Report-

  • Which are the high-growth market segments in terms of charging type, connection type, vehicle type, mounting type, component, end user, and country?
  • What is the historical market size for the European electric vehicle charging stations market?
  • What are the market forecasts and estimates for the period 2022-2029?
  • What are the major drivers, restraints, opportunities, and challenges in the European electric vehicle charging stations market?
  • Who are the major players in the market, and what are their market shares?
  • Who are the major players in various countries, and what are their market shares?
  • How is the competitive landscape for the European electric vehicle charging stations market?
  • What are the recent developments in the European electric vehicle charging stations market?
  • What are the different strategies adopted by the major players in the market?
  • What are the key geographic trends, and which are the high-growth countries?
  • Who are the local emerging players in the European electric vehicle charging stations market, and how do they compete with other players?

Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

Recommended Readings

Related Reports
Europe EV Charging Stations Market - Opportunity Analysis and Industry Forecast (2022-2029)
Report ID: MRAUTO - 104591 Pages: 289 Formats*:PDF Category: Automotive and Transportation
Share this on:
Linkdin
Whatsapp
Print
Save PDF
Table Of Content
Download Free Sample Report

Meticulous Research
US
+1 646-781-8004
Meticulous Research
Europe
+44-203-868-8738
Meticulous Research
APAC
+91-744-778-0008
Subscribe to get the latest industry updates