PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1333931
PUBLISHER: UnivDatos Market Insights Pvt Ltd | PRODUCT CODE: 1333931
The Europe electric truck charging infrastructure market has witnessed rapid expansion due to the growing awareness of environmental concerns and stringent regulations aimed at reducing greenhouse gas emissions. The market is supported by the development of technologically advanced charging solutions and a surge in demand for electric trucks across various industries, such as logistics, delivery services, and municipal transportation.
The Europe Charging Infrastructure for E-Trucks Market was valued at ~USD 350 Mn in 2022 & is expected to grow with a strong CAGR of 30% during the forecast period. Governments and private enterprises are investing significantly in expanding the charging network to support the increasing number of electric trucks on the roads. This expansion includes both public charging stations in urban centers and private charging infrastructure for fleet operators. For instance, in June 2023, Electrify Europe secured a strategic partnership with a leading logistics company to deploy an extensive network of high-power charging stations across major transportation routes in Europe. This collaboration aims to support the logistics company's transition to an all-electric fleet by 2025. In addition, in May 2023, ChargeMaster Plc secured a significant funding round to accelerate the expansion of its charging infrastructure in key European markets. The investment will focus on increasing the number of fast-charging stations in major cities and industrial hubs
As governments, businesses, and consumers prioritize eco-friendly solutions, the market is expected to witness further expansion and innovation in the coming years. Collaborations between charging infrastructure providers and logistics companies are likely to play a crucial role in shaping the future of the electric truck industry in Europe.
Based on charging type, the market is bifurcated into commercial charging and residential charging. Amongst these, the commercial charging segment dominated the market in 2022. Major players in the electric vehicle charging infrastructure sector, such as Electrify Europe and EVBox, have been actively expanding their public charging networks across Europe. These companies have secured partnerships with various stakeholders, including city authorities and private businesses, to deploy more charging stations in key locations. Additionally, several public charging infrastructure providers, such as ABB Group and Fastned, have made significant advancements in ultra-fast charging technology for electric trucks. These developments aim to reduce charging times substantially, addressing a critical concern for commercial electric truck operators.
Based on charging speed, the market is bifurcated into fast charging and slow charging. Fast charging segment is likely to have a major market share in the electric truck charging infrastructure market in Europe. Recent advancements in fast charging technology have improved the efficiency and reliability of high-power charging stations. Companies have been investing in research and development to enhance the capabilities of fast charging infrastructure, making it more appealing to commercial electric truck operators. For instance, in June 2023, ABB Group unveiled its latest ultra-fast charging solution capable of delivering up to 350 kW of power. This advancement significantly reduces charging times for electric trucks, catering to the needs of long-haul trucking operations. The new technology has garnered interest from major logistics companies looking to transition to electric fleets.
Based on charger type, the market is bifurcated into AC and DC. charging segment is likely to have a major market share in the electric truck charging infrastructure market in Europe. DC charging is significantly faster than AC (Alternating Current) charging. DC chargers can provide higher power levels directly to the electric truck's battery, resulting in shorter charging times. This faster charging speed is especially crucial for commercial electric trucks, as it reduces downtime and allows for more efficient fleet operations. For instance, in June 2023, Tesla, a major player in the electric vehicle market, announced the expansion of its Megacharger network in Europe. The Megacharger is a high-power DC fast charging solution specifically designed for Tesla's electric semi-truck, which is anticipated to enter the European market soon. This expansion demonstrates the increasing emphasis on high-power DC charging infrastructure for electric trucks.
For a better understanding of the market adoption of the Europe charging infrastructure for e-trucks industry, the market is analyzed based on its presence in the countries such as Germany, UK, Italy, Spain, France, Netherlands, and Rest of Europe. Germany dominated the Europe charging infrastructure for e-trucks market in 2022. Germany is home to some of the world's leading automotive manufacturers, including Volkswagen, Daimler, and BMW. As the electric truck market grows, these established companies are likely to play a pivotal role in the production and deployment of electric trucks, further driving the demand for charging infrastructure. For instance, in June 2023, Volkswagen, announced substantial investments in charging infrastructure projects across Germany. This initiative aims to strengthen the charging network and accelerate the adoption of electric trucks manufactured by Volkswagen and other brands under the Volkswagen Group. In addition, in April 2023, BMW, known for its electric passenger vehicles, unveiled innovative charging technology capable of delivering high-power DC charging for electric trucks. The company's advancements in charging solutions are expected to benefit not only passenger electric vehicles but also the growing electric truck market.
Some of the major players operating in the market include: ABB, Siemens, Eaton, Shell Recharge, EVBox, Schneider Electric, BP Pulse, TotalEnergies, Ionity, Fastned, among others.