Current and emerging market trends, and dynamics in the Europe electric vehicle chargers market.

Electric vehicle chargers supply electric energy to the battery of an electric vehicle. The Europe electric vehicle chargers market is expected to reach $2,756.4 million by 2023, owing to increase in demand for control over carbon emission and hazardous particle in the air, and launch of several government initiatives for the adoption of electric vehicles. However, safety concerns with respect to the use of electric vehicle charging systems might limit the adoption of these systems.

Need for fuel independency, depleting non-renewable energy resources, and improved e-mobility are the necessary requirements for various residential as well as large commercial users, which drive the demand for electric vehicle chargers. This enables the end users to perform the tasks and maintain charging of electric vehicles at personal space or public place as per the requirement of charging.

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In 2016, Netherlands was the highest contributor, in terms of revenue, in the Europe electric vehicle chargers market. In addition, plug-in hybrid electric vehicle contributed significant revenue to the market, majorly from Netherlands. Furthermore, the residential segment is anticipated to witness the highest growth rate during the forecast period, due to heavy investment in electrical vehicles by the end user.

Key market players have adopted various strategies, such as new product launch, business expansion, and strategic alliances, to increase awareness about electric vehicle chargers across various countries.

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Europe Electric Vehicle Chargers Market was valued at $477.2 million in 2016, and is projected to reach at $2,756.4 million by 2023, growing at a CAGR of 29.4% from 2017 to 2023. Electric Vehicle (EV) Chargers are used to provide charging to electric vehicles by use of a battery and an electrical source that charges the battery. Charging of such vehicles is done via different levels of charging, i.e., level 1, level 2, and level 3. The cost, in addition to maintenance cost, of electric vehicles is lower than conventional petrol/diesel cars. Electric vehicles reduce the carbon footprint released into the atmosphere, which contains toxic gas particles.

Key Benefits For Stakeholders

This report provides an extensive analysis of the current and emerging market trends, and dynamics in the Europe electric vehicle chargers market.
In-depth analysis is conducted by constructing market estimations for the key market segments between 2016 and 2023.
Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
Key players are profiled and their strategies are analyzed thoroughly to understand the competitive outlook of the Europe market.

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