Europe EV Charging Stations Market Forecast to 2029: Growth of the Market Mainly Driven by Government Initiatives – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Europe EV 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-Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
This research report provides an in-depth analysis of the European electric vehicle charging stations market and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2029.
The European electric vehicle charging stations market is expected to reach $61.73 billion by 2029, at a CAGR of 34.7% during the forecast period, 2022-2029. By volume, this market is expected to reach 6,458.8 thousand units by 2029 at a CAGR of 37.8% during the forecast period.
The growth of this market is mainly driven by increasing government initiatives to drive the adoption of EVs and develop the associated infrastructure, the rising demand for EV fast-charging infrastructure, and the increasing prevalence of range anxiety among EV users. France, Germany, the Netherlands, Norway, and the U.K. are five front-runner countries in Europe in terms of EV adoption and the development of EV charging infrastructure.
The study offers a comprehensive analysis of the European electric vehicle charging stations market by charging type (Level 1, Level 2, DCFC), connection type (pantograph, connector, wireless), component (hardware, software, services), mounting type (wall, pedestal, ceiling), vehicle type (passenger cars, LCVs, two-wheelers & scooters, HCVs), end user (commercial EV charging stations, residential EV charging stations), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Geographically, Germany is estimated to account for the largest share of the European electric vehicle charging stations market in 2022. However, Sweden is expected to register the highest CAGR during the forecast period. Sweden is one of the leading European countries to ban diesel-powered vehicles and adopt electric mobility. The Swedish government has started investing in EV charging stations across the country.
The Swedish Transport Administration is investing to support the expansion of public EV fast-charging stations. For instance, in June 2020, the Swedish Transport Administration announced state support to expand public charging stations on major roads for the fast charging of electric vehicles.
Denmark is expected to record the second-highest CAGR during the forecast period. Increasing government initiatives to reduce carbon dioxide emissions and low taxation on the purchase of electric vehicles are key factors driving the EV charging stations market in the country. Denmark has installed charging spots in its 30 biggest cities.
The Danish government has pledged to roll out 775,000 electric/hybrid cars on its roads by 2030 to reduce greenhouse gas emissions by 70%. Also, Copenhagen is expected to become a carbon-neutral city by 2025. The growing use of electric vehicles has boosted the demand for EV charging stations across the country. Currently, Denmark also offers a tax exemption on the procurement and installation of commercial charging stations.
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 geography?
- 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 this market, and what share of the market do they hold?
- Who are the major market players in the European countries?
- How is the competitive landscape of the European electric vehicle charging stations market?
- What are the recent developments in the European electric vehicle charging stations market?
- What are the various strategies adopted by the major players in this 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 the existing players?
Companies Mentioned
- Webasto Group (Germany)
- EVBox Group (Netherlands)
- BP p.l.c. (U.K.)
- Royal Dutch Shell PLC (Netherlands)
- Connected Kerb Limited (U.K.)
- Electricite de France (France)
- Fastned B.V. (Netherlands)
- Route220 S.r.l. (Italy)
- Compleo Charging Solutions AG (Germany)
- GreenWay Holding S.A (Slovakia).
For more information about this report visit https://www.researchandmarkets.com/r/l07y1o
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