The Europe Electric Vehicle Charging Stations market is expected to grow at a CAGR of 26.54%, reaching a market size of US$16.43 billion in 2029 from US$5.06 billion in 2024.
An electric vehicle (EV) charging station is a hub or center that connects the EV to a power source from the grid, allowing the vehicles to charge their batteries. The European EV charging station market is forecasted to witness massive growth, majorly attributed to its increasing ownership of electric vehicles. With the increasing ownership of electric vehicles in the region, the demand for an efficient, publicly accessible, and developed charging station is estimated to grow significantly, majorly in the remote locations of the region, like along the inter-nation highways.
The electric vehicle charging station market has grown vastly over the last few years. One of the main reasons for the market’s growth is the increasing sales of electric vehicles in the European region, especially in the countries within the European Union. Similarly, introducing various policies and subsidies by the EU to boost the region’s EV market is also significantly expanding the electric vehicle charging market. The EU aims to reduce its greenhouse gas emissions by 55% by 2030. It also intends to achieve carbon neutrality by 2050. The government has taken several actionable steps to promote the use of EVs and EV charging stations.
Europe is among the most developed regions with efficient and publicly accessible electric vehicle charging infrastructures in the world. According to the International Energy Agency (IEA), Europe ranks second globally in terms of availability of slow-public chargers. The region had about 460,000 total slow chargers in 2022. The region had about 70,000 fast chargers in the same year, a 55% increase compared to 2021.
The International Energy Agency (IEA), in its global electric vehicle sales report, stated that, while plug-in hybrid vehicle sales remained constant from 2021 to 2023, the sales of battery electric vehicles (BEVs) grew significantly in the European region. The agency further stated that in 2021, the total sales of battery electric vehicles in Europe were recorded at about 1.2 million, which grew to 1.6 million in 2022. In 2023, this figure was recorded at about 2.2 million. The production of BEVs has also grown significantly in the region over the past few years. In 2021, the total battery electric vehicle was recorded at 2.9 million, which increased significantly to about 4.4 million in 2022, finally reaching 6.7 million in 2023.
An electric vehicle (EV) charging station is a hub or center that connects the EV to a power source from the grid, allowing the vehicles to charge their batteries. The European EV charging station market is forecasted to witness massive growth, majorly attributed to its increasing ownership of electric vehicles. With the increasing ownership of electric vehicles in the region, the demand for an efficient, publicly accessible, and developed charging station is estimated to grow significantly, majorly in the remote locations of the region, like along the inter-nation highways.
The electric vehicle charging station market has grown vastly over the last few years. One of the main reasons for the market’s growth is the increasing sales of electric vehicles in the European region, especially in the countries within the European Union. Similarly, introducing various policies and subsidies by the EU to boost the region’s EV market is also significantly expanding the electric vehicle charging market. The EU aims to reduce its greenhouse gas emissions by 55% by 2030. It also intends to achieve carbon neutrality by 2050. The government has taken several actionable steps to promote the use of EVs and EV charging stations.
Europe is among the most developed regions with efficient and publicly accessible electric vehicle charging infrastructures in the world. According to the International Energy Agency (IEA), Europe ranks second globally in terms of availability of slow-public chargers. The region had about 460,000 total slow chargers in 2022. The region had about 70,000 fast chargers in the same year, a 55% increase compared to 2021.
Europe Electric Vehicle Charging Stations Market Drivers:
Increasing sales of electric vehicles
One of the major factors boosting the European electric vehicle charging station market forward is the increasing demand for electric vehicles in the region. This region is among the biggest operators of electric vehicle charging infrastructures, majorly due to the increasing demand for EVs in countries like Germany, Netherlands, France, and Spain, among others. It is also home to some of the global leaders in electric vehicle and charger technologies, driving technological advancements in the sectors.The International Energy Agency (IEA), in its global electric vehicle sales report, stated that, while plug-in hybrid vehicle sales remained constant from 2021 to 2023, the sales of battery electric vehicles (BEVs) grew significantly in the European region. The agency further stated that in 2021, the total sales of battery electric vehicles in Europe were recorded at about 1.2 million, which grew to 1.6 million in 2022. In 2023, this figure was recorded at about 2.2 million. The production of BEVs has also grown significantly in the region over the past few years. In 2021, the total battery electric vehicle was recorded at 2.9 million, which increased significantly to about 4.4 million in 2022, finally reaching 6.7 million in 2023.
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- Historical data & forecasts from 2022 to 2029
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Europe's Electric Vehicle Charging Stations Market is segmented and analyzed as follows:
By Type of Electric Vehicle
- Battery Electric Vehicle (BEVS)
- Plug-In-Hybrid Electric Vehicles (PHEVS)
By Application
- Public
- Private
By Country
- Germany
- France
- United Kingdom
- Norway
- Netherlands
- Italy
- Others
Table of Contents
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. EUROPE ELECTRIC VEHICLE CHARGING STATIONS MARKET BY TYPE OF ELECTRIC VEHICLE
6. EUROPE ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION
7. EUROPE ELECTRIC VEHICLE CHARGING STATIONS MARKET BY COUNTRY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
Companies Mentioned
- Ionity GmbH
- ABB LTD
- ChargePoint Inc.
- Tesla Inc.
- BP Pulse (BP)
- Allego B.V.
- Shell Recharge
- Siemens
- Schneider Electric
- Compleo Charging Solutions GmbH
- Vattenfall InCharge
- SCHURTER Group
- Alfen N.V.
Methodology
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