Redding, California, Aug. 07, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Europe Electric Vehicle Charging Stations Market by Component, Charging Type, Connection Type (Connectors, Wireless Charging), Mounting Type, Vehicle Type (Passenger Cars, Two-wheelers & Scooters), End User and Geography - Forecast to 2030,’ Europe electric vehicle charging stations market is projected to reach $34.0 billion by 2030, at a CAGR of 25.9% during the forecast period.
Electric vehicle charging stations are a site where one or more EVSEs are installed. These sites can be residential, non-residential, or commercial. Electric vehicle charging stations provide electric power to the vehicle and use that to recharge the vehicle's batteries. An electric vehicle charging station, called a charging dock, charging pile or EVSE, includes the electrical conductors, related equipment, software, and communications protocols that deliver energy efficiently and safely to the vehicle.
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The growth of this market is driven by the rising demand for EV fast-charging infrastructure, growing government initiatives to develop charging infrastructure, and the increasing company’s investment in electric vehicle charging stations across the country. However, the high installation costs of EV charging stations restrain the growth of this market. Furthermore, the increasing adoption of electric mobility in emerging economies and growing government support for zero-emission vehicles (ZEVs) are expected to create market growth opportunities. However, the high electricity tariffs in developing countries are a major challenge for the players operating in this market. The latest trends in the Europe electric vehicle charging stations market are electric vehicle charging stations powered by renewable energy.
The Europe electric vehicle charging stations market is segmented by component (hardware [electric vehicle supply equipment (EVSE), cable management systems, and electrical distribution systems], software [charging station management systems (CSMS), smartphone applications, open charge point protocol (OCPP), and interoperability solutions], services [system integration & installation and maintenance]), by charging type (level 2, DC fast charging, and level 1), by connection type (connectors, pantographs, and wireless charging [static wireless EV charging and dynamic wireless EV charging]), by mounting type (wall mount, pedestal mount, and ceiling mount), by vehicle type (passenger cars, heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters), by end user (commercial EV charging stations[commercial public EV charging stations {on-road charging, parking spaces, and destination chargers} and commercial private EV charging stations {fleet charging and captive charging}] and residential EV charging stations ), and geography. The study also evaluates industry competitors and analyses the market at the regional and country levels.
Based on component, in 2023, the hardware segment is expected to account for the largest share of the Europe electric vehicle charging stations market. The large market share of this segment is attributed to the increasing government initiatives aimed at electrifying public bus fleets and deploying associated charging infrastructure and the increasing deployment of EV charging stations. However, the software segment is projected to register the highest CAGR during the forecast period due to the increasing deployment of smart remote charging stations and the growing need for managing EV fleets.
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Based on charging type, in 2023, the level 2 segment is expected to account for the largest share of the Europe electric vehicle charging stations market. The large market share of this segment is attributed to the increasing use of Level 2 chargers for residential and commercial applications and increasing support for longer driving ranges by providing a more substantial charge than Level 1 chargers. However, the DC fast charging segment is projected to register the highest CAGR during the forecast period due to increasing investments from automakers towards developing DC fast charging station infrastructure to support their long-range battery-electric vehicles.
Based on connection type, in 2023, the connectors segment is expected to account for the largest share of the Europe electric vehicle charging stations market. The large market share of this segment is attributed to the increasing development and adoption of standardized connector types, ensuring compatibility between charging stations and electric vehicles and increasing international standards and regulations for promoting a harmonized charging infrastructure worldwide. Also, this segment is projected to register the highest CAGR during the forecast period.
Based on mounting type, in 2023, the wall mount is expected to account for the larger share of the Europe electric vehicle charging stations market. The large market share of this segment is attributed to the increasing need to offer high-speed charging in a compact, affordable, and scalable package and the increasing use of either Level 1 or Level 2 electric vehicle supply equipment (EVSE). Also, this segment is projected to register the highest CAGR during the forecast period.
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Based on vehicle type, in 2023, the passenger cars segment is expected to account for the largest share of the Europe electric vehicle charging stations market. The large market share of this segment is attributed to the growing expansion of charging infrastructure networks and increasing adoption of electric vehicles, environmental concerns and emission regulations, advancement of EV battery technology. Also, this segment is projected to register the highest CAGR during the forecast period.
Based on end user, in 2023, the commercial EV charging stations segment is expected to account for the largest share of the Europe electric vehicle charging stations market. The large market share of this segment is attributed to the increasing adoption of electric vehicles in commercial fleets for cost savings and reduced emissions, increasing Infrastructure development for shared mobility services, and growing installation of commercial EV charging stations for cost savings and reduced emissions. Also, this segment is projected to register the highest CAGR during the forecast period.
Based on country/region, in 2023, Germany is expected to account for the largest share of the Europe electric vehicle charging stations market. Germany’s major market share is attributed to the growing government investments regarding the purchase of electric buses and incentives to purchase electric vehicles, rising demand for public charging infrastructure, and growing government support for zero-emission vehicles (ZEVs).
However, Denmark is projected to register the highest CAGR during the forecast period due to the increasing adoption of electric mobility and increasing government initiatives to reduce carbon dioxide emissions.
Some of the key players operating in the Europe electric vehicle charging stations market include ChargePoint Holdings, Inc. (U.S.), Blink Charging Co. (U.S.), ABB Ltd. (Switzerland), Tesla, Inc. (U.S.), BP p.l.c. (U.K.), Shell Plc (U.K.), Électricité De France (France), EVBox Group (Netherlands), Connected Kerb Limited (U.K.), HANGZHOU AONENG POWER SUPPLY EQUIPMENT CO., LTD. (China), Webasto Group (Germany), and Siemens AG (Germany).
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Scope of the report:
Europe Electric Vehicle Charging Stations Market Assessment– by Component
- Hardware
- Electric Vehicle Supply Equipment
- Cable Management Systems
- Electrical Distribution Systems
- Software
- Charging Station Management Systems
- Smartphone Applications
- Open Charge Point Protocol
- Interoperability Solutions
- Services
- Systems Integration & Installation
- Maintenance
Europe Electric Vehicle Charging Stations Market Assessment– by Charging Type
- Level 2
- DC Fast Charging
- Level 1
Europe Electric Vehicle Charging Stations Market Assessment– by Connection Type
- Connectors
- Pantographs
- Wireless Charging
- Static Wireless EV Charging
- Dynamic Wireless EV Charging
Europe Electric Vehicle Charging Stations Market Assessment– by Mounting Type
- Wall Mount
- Pedestal Mount
- Ceiling Mount
Europe Electric Vehicle Charging Stations Market Assessment– by Vehicle Type
- Passenger Cars
- Light Commercial Vehicles
- Two-wheelers & Scooters
- Heavy Commercial Vehicles
Europe Electric Vehicle Charging Stations Market Assessment– by End User
- Commercial EV Charging Stations
- Commercial Public EV Charging Stations
- On-road Charging
- Parking Spaces
- Destination Chargers
- Commercial Private EV Charging Stations
- Fleet Charging
- Captive Charging
- Commercial Public EV Charging Stations
- Residential EV Charging Stations
Europe Electric Vehicle Charging Stations Market Assessment– by Country/Region
- Germany
- Norway
- Sweden
- Italy
- U.K.
- Spain
- Netherlands
- France
- Denmark
- Rest of Europe
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