Westford, USA, April 14, 2023 (GLOBE NEWSWIRE) -- SkyQuest projects that the Europe EV Charging Stations market will attain a value of USD 170.02 billion by 2030, with a CAGR of 45.83% over the forecast (2022-2030). The increase in the number of electric vehicle (EV) sales in the region is one of the major drivers of the market's expansion for Europe EV Charging Stations. Customers' preferences are gradually evolving to Favour passenger and commercial electric vehicles due to growing environmental concerns (EV). The market is expanding more quickly as a result of recent technological advancements like the Internet of Things (IoT) and the incorporation of real-time information systems into all-EV charging station systems. The technologies locate charging stations in the area and provide real-time information on the number of available spaces.
According to SkyQuest's, Government initiatives to promote the use of electric vehicles and develop the necessary infrastructure, rising demand for fast-charging infrastructure for EVs, the rising prevalence of range anxiety among EV users, and rising EV deployment by shared mobility operators are the main factors propelling the growth of the Europe EV Charging Stations market. Moreover, variables including escalating V2G technology R&D and expanding deployment of charging stations by retail MNCs are anticipated to open up new potential prospects for market participants.
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- Pages - 245
- Tables - 62
- Figures – 66
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An electric vehicle charging station is a device used to charge plug-in electric vehicles (EVs), such as electric cars, neighbourhood EVs and hybrids (EVSE). The energy conversion system, software, facility metre and energy controller used by the charging stations are all connected to the electrical grid. The key reasons propelling the growth of this market are the increase in government initiatives to promote EV use and the development of related infrastructure, the rising demand for fast-charging infrastructure, and the rising prevalence of range anxiety among EV users.
Prominent Players in Europe EV Charging Stations Market
- ChargePoint, Inc.
- ABB
- Webasto Thermo & Comfort
- Shell International B.V.
- Schneider Electric
- Groupe Renault
- Phihong USA Corp.
- EV Safe Charge Inc.
- Tesla
- Daimler AG.
- Siemens
- EVBox Group
- BP p.l.c.
- Royal Dutch Shell plc
- Connected Kerb Limited
- Electricite de France
- Fastned B.V.
- Route220 S.r.l.
- Compleo Charging Solutions AG
- GreenWay Holding S.A
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Hardware Segment Dominating the Market Due to Growing Demand for EV Charging Stations
The market for European EV charging stations is anticipated to be dominated by the hardware segment in 2022. The significant market share of this sector is primarily attributable to the expansion of the infrastructure supporting the shift to electric mobility in Europe, the rising demand for EV charging stations for long-distance travel and the alluring fiscal & non-fiscal incentives for establishing facilities for the production of EV charging stations and associated components.
Germany is predicted to hold the largest market share for electric vehicle charging stations in Europe in 2022. The significant market share is mostly attributable to rising government expenditures on electric buses, the rapid development of charging infrastructure and incentives for buyers of electric vehicles. As of 2021, there were 35,000 accessible charging outlets for EV users in Germany looking for office or home charging stations. Germany is one of the countries that is recognized with advancing the adoption of EVs on a global scale.
Connector Segment is Expected to Grow the Market Due to Rise in Partnerships between Electric Vehicle Stations
In 2022, the connector segment is anticipated to hold the biggest market share for EV charging stations in Europe. The significant market share of this segment is primarily attributable to growing partnerships between electric vehicle charging station providers and utility companies and fuel station operators to deploy electric vehicle charging stations as well as growing partnerships between governments and automakers to develop the DC fast-charging station infrastructure in the area.
The U.K. is projected to occupy the second-largest share of the Europe EV Charging Stations market in terms of value in 2022. The main factors influencing the growth of this market are the expanding use of electric buses in the nation's fleets of public transportation, increasing government investments and incentives for the construction of charging infrastructure and focused government initiatives to make central London and town centres throughout the U.K. zero-emission zones.
A comprehensive analysis of the major players on the Europe EV Charging Stations market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Europe EV Charging Stations Market
- On October 5, 2022, ChargePoint, a top provider of EV charging stations introduced a new charging option geared towards companies interested in joining the transition to cleaner transportation.
Key Questions Answered in Europe EV Charging Stations Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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