PUBLISHER: Meticulous Research | PRODUCT CODE: 1152300
PUBLISHER: Meticulous Research | PRODUCT CODE: 1152300
European Electric Vehicle 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- Global Forecast to 2029
The research report titled 'European Electric Vehicle 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- Global Forecast to 2029' provides an in-depth analysis of the European electric vehicle charging stations market and emphasizes on the current market trends, market size, market shares, recent developments, and forecast till 2029. The European electric vehicle charging stations market is projected to reach $56.03 billion by 2029, at a CAGR of 31.5% during the forecast period 2022-2029. By volume, this market is projected to reach 6,158.8 thousand units by 2029, at a CAGR of 35.5% from 2022 to 2029.
The growth in this market is mainly driven by increasing government initiatives to drive the adoption of EVs and associated infrastructure, rising demand for EV fast-charging infrastructure, and increasing prevalence of range anxiety. France, Germany, Netherlands, Norway, and the U.K. are five front-runner countries for electric vehicles and charging points across the region.
The study offers a comprehensive analysis of the European electric vehicle charging stations market segment by charging type (Level 1, Level 2, DCFC), connection type (pantograph, connector, wireless), component (hardware, software, services), mounting type (wall, pedestal, and ceiling) vehicle type (Passenger Car, LCV, Two-Wheeler & Scooter, HCV), end-user (commercial EV charging stations, residential EV charging stations) and geography. The study also evaluates industry competitors and analyzes the market at the country level.
Based on charging type, the European electric vehicle charging stations market is mainly segmented into Level 1, Level 2, and DC fast charging. The DC fast-charging segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is mainly attributed to growing government initiatives for installing fast-charging stations, subsidies on the procurement and installation of DC fast-charging stations, increasing investments from automakers towards the development of DC fast-charging station infrastructure to support their long-range battery-electric vehicle, and ability of DC fast chargers to provide faster charging as compared to Level 2 & Level 2 charging stations.
Based on connection type, the European electric vehicle charging stations market is segmented into pantograph, connector, and wireless EV charging. The wireless EV charging segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the rising demand for EV fast-charging infrastructure, the increasing implementation of wireless charging infrastructure in Europe, and the increasing prevalence of range anxiety issues associated with electric vehicles. The standardization of wireless EV charging systems and the growing use of autonomous vehicles for public transport and logistics are projected to provide significant growth opportunities for vendors operating in this market.
Based on component, the European electric vehicle charging stations market is segmented into hardware, software, and services. The software segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing software adoption to overcome the optimum power challenges and optimize charging station operation; high configurability offering services to EV owners, such as sending notifications about the availability of charging stations or completion of charging, and increasing adoption of smart charging management software by OEMs.
Based on mounting type, the European electric vehicle charging stations market is segmented into wall mount, pedestal mount, and ceiling mount. The pedestal mount segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing adoption of pedestal-mounted EV chargers, increasing installation of pedestal-mounted EV charging stations in public places, and increasing R&D in emerging technologies.
Based on vehicle type, the European electric vehicle charging stations market is segmented into passenger cars, light commercial vehicles, heavy commercial vehicles, and two-wheelers & scooters. The heavy commercial vehicles segment is projected to register the highest CAGR during the forecast period. The rapid growth of this segment is mainly attributed to the increasing adoption of electric mobility in the region, supportive government subsidies & tax rebates for promoting EVs, the growing adoption of autonomous delivery vehicles, and the increasing adoption of electric buses and trucks for public transport and freight services.
Based on end user, the European electric vehicle charging stations market is segmented into commercial EV charging stations and residential EV charging stations. In 2022, the commercial EV charging stations segment is expected to account for the largest share of the electric vehicle charging stations market. This segment is also projected to register the highest CAGR during the forecast period. The large market share of this segment is mainly attributed to the growing number of installations of EV charging stations in public places like shopping malls, restaurants, commercial buildings, parking areas, railway stations, and airports; and government initiatives for the installation of publicly accessible charging stations.
Based on geography, in 2022, Germany is expected to account for the largest share of the European electric vehicle charging stations market. However, Croatia is projected to register the highest CAGR during the forecast period due to the increasing government investments regarding the purchase of electric buses, the development of the charging infrastructure, and incentives to purchase electric vehicles.
Slovakia is projected to register the second-highest CAGR during the forecast period. Factors such as rising levels of carbon emissions and other hazardous pollutants from ICE vehicles, low maintenance, and government subsidies for EVs have increased the demand for electric vehicles, and an increasing number of electric vehicles are driving the growth of this market.
The key players operating in the European electric vehicle charging stations market are 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), and GreenWay Holding S.A (Slovakia).
Key Questions Answered in the Report-
European Electric Vehicle Charging Stations Market, by Charging Type
European Electric Vehicle Charging Stations Market, by Connection Type
European Electric Vehicle Charging Stations Market, by Component
European Electric Vehicle Charging Stations Market, by Mounting Type
European Electric Vehicle Charging Stations Market, by Vehicle Type
European Electric Vehicle Charging Stations Market, by End-User
European Electric Vehicle Charging Stations Market, by Geography
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