Market Research Report
Italy Electric Vehicle Charging Station Market Overview, 2027
|Italy Electric Vehicle Charging Station Market Overview, 2027|
Published: June 2, 2022
Bonafide Research & Marketing Pvt. Ltd.
Content info: 44 Pages
Delivery time: 1-2 business days
EVs are vehicles that are either partially or fully powered on electric power. Electric vehicles have low running costs as they have less moving parts for maintaining and also very environment friendly as they use little or no fossil fuels (petrol or diesel).For the charging of the EV the infrastructure is required which is called EV charging station. EV charger provides electrical current from either a 240v outlet or the grid it's hardwired to and delivers that electricity to the vehicle, just like any other appliance or device that is charged by just plugging it into the wall socket.
According to the report title "Italy Electric Vehicle Charging Station Market Outlook, 2027" publish by Bonafide Research, charging station market of Italy is expected to grow over a CAGR of 35% by the end of forecast period. On the basis of charger slow chargers occupy major share of the market while the fast charger segment is expected to further bolster the market growth at a forecasted CAGR of above 70% over the forecast period. Slow charger is the home private charger generally used with 230V/15A single phase plug which can deliver a maximum of up to about 2.5KW of power. The EVSE supplies AC current to the vehicle's onboard charger which in turn converts the AC power to DC allowing the battery to be charged while the fast chargers would generally be used as a top-up, rather than fully charging vehicles and they are important for cab companies and corporate users who have a fleet of electric cars. The future holds bright for fast charger to grow in the segment with the increasing demand of people for fast charging the battery full within 20 to 30 minutes only.
Italy is relatively a new market for EV charging station as the adoption rate of EV is still less. However, it is leading to a sustainable mobility market. According to UNRAE in 2017 the number of EV registrations increased by 38.6% as compared to the previous year due to more affordability and competitive prices. Tesla and Nissan are the popular EV's opted by Italians followed by Renault and Smart. Also the Hybrid vehicles increased by double in numbers as reported by ANFIA. In January 2017, DAFI (Directive Alternative Fuel Initiative) was passed in Italy to reduce the dependence on oil and mitigate the environmental impact from the use of transport systems. The future of the number of charging stations depends on the registrations of number of EV vehicles in the country that would be licensed. It also passed a decree that the worn out vehicles would be replaced by EV's in future when they are worn out to the extent of 25%. Further, even the building regulations need to be amended for the inclusion of alternative fuels infrastructure. It stated that new buildings and those who undergo massive renovations must include EV charging points. Further the government incentives for EV are expected to bolster the market growth robustly in coming years.
ARERA the regulatory authority for energy, networks and environment formerly known as AEEG encourages development of charging stations in Italy. Enel manages just half of the national charging points in Italy. In December 2017, the environment minister set a target in line with the national production of electricity from renewable sources to reach a fleet of 5 million EV's in Italy by 2030. The restraining factor is high costs of EV as compared to average Italian's income level. This is due to high costs of EV batteries, but with the technology evolving it would be overcome in future with the rise in demand and mass production. Lack of charging infrastructure is another restraining factor as it is not much developed in Italy yet. A further challenge is the absence of full interoperability between the charging infrastructures managed by different operators, which have different charging methods and are not always compatible with every EV model available on the market.
Italy's educated populace is gradually becoming aware of the harmful impact of the vehicular use in the country. The main source of pollution of air is due to the emission of different toxic gases releases by the combustion of the fossil fuel in the engine of the automobile. Electric vehicle introduced as a clean energy initiative, because EV have low or zero emissions, and having a high growth in the future market. Automobile companies are creating separate EV business units to prepare for an EV boom. Due to increase in EV demand will create a need for charging infrastructure and different safety regulations and standards.
The outbreak of the COVID-19 pandemic has brought a significant decline in electric car sales, globally. In Italy, the drop in electric vehicle sales followed that of the overall car sales. The decline was the largest in the month of February, with electric car sales falling around 5000 to 10000 units, a plunge of around 60% from the same month in 2019.
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to electric vehicle charging station industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.
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