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Electric Vehicle Chargers Market in Europe | As EV Appropriation Develops, Charging Framework Needs To Do Likewise | ABB Ltd., Chroma Ate, Innogy, KEBA, POD Point Ltd., Chargemaster, Robert Bosch GmbH, Schaffner Holding AG, Silicon Laboratories, Inc., and

03-18-2020 02:47 PM CET | Energy & Environment

Press release from: Allied Market Research

Europe Electric Vehicle Chargers Market

Europe Electric Vehicle Chargers Market

Europe Electric Vehicle Chargers Market 2020-2023: Reasons Why You Should Incorporate Europe Electric Vehicle Chargers at Your Business

It doesn't seem to be a foreign counterpart anymore, when we happen to come across an electric vehicle on road. However, the frustration of electric vehicle owners seems to know no boundary when it comes to deficiency of charging stations on the way.

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According to a new report by Allied Market Research, titled,"Europe Electric Vehicle Chargers Market by Vehicle Type, Charging Type, and End User (Residential and Commercial): Opportunity Analysis and Industry Forecast, 2017 - 2023,"the Europe electric vehicle chargers market size 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.

This post is going to reveal quite a few strong reasons why you should deploy EV charging stations inside your business premise.

Contaminated air comes with untoward health effects. When it affects our bodies, it leaves an adverse impact on the planet as well. So, there is practically no doubt that any steps you would be taking as individuals to perk up the air quality will be beneficial to cha the lives on the mother earth. Electric vehicles tend to emit no gases and this particular trait of EVs makes them a substantial tool to enhance air quality. By accommodating a charging station at your business, you are actually supporting a technology that will make this planet a better place to live in. This way, you can definitely contribute to the overall improvement of air quality.

On the other hand, by hosting an EV charging station, you can send a valuable message to your employees about the values of the organization. This eco-friendly, reliable and advanced step of yours would definitely provide the staffs with a positive outlook toward the corporation. When it inspires and permits employees to embrace such important values, it also sets an instance for how a transformation to cleaner energy is possible and pretty much achievable if everyone does their respective part. This vocation also sends a parallel message to the budding customers, heightening your company's overall brand status or repute.

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Also, incorporating EV charging stations to company edifices is a significant bonus for employees too, as it eases and comforts their experience using electronic vehicles. Just consider the number of hours an employee parks his/her car for in your parking lot. All those hours could now be utilized for charging their vehicles, which is an important benefit, especially for them who many not have a home charger. This advantage can help diminish travel times in areas where EVs need to traverse through carpool lanes. So, an addition of an electronic vehicle charger can certainly be an influential and significant bargaining chip in titillating and retaining brilliant employees.

EV charging stations have further been boosted in 2019. However, it still goes astray to provide for many car owners, especially in rural areas away from metro towns. Although there has been an approximated 28 percent surge in charging hubs year-on-year since 2016, much of this has only taken place in major UK cities such as London.

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As per the statement of Dan Martin, CEO of Elmtronoics, charging network has considerably polished up to a substantial extent. However, major investment is still required across the United Kingdom. According to him, one of the biggest challenges Elmtronics has undergone has been nothing but the charging infrastructure. Access to steadfast chargers on busy motorways is really needed. The situation has ameliorated, but it is no close to perfecttion. Significant investment into the UK's overtly available chargers can improve the situation. The investment is projected to hit soon and tone down the resentment felt by far-off electric car drivers. Recently, an electric charging software ZapMap has disclosed how some rural provinces are detached from new electric charging technology. Nevertheless, it's going to get better soon.

According to Allied Market Research, the Europe electric vehicle chargers market is expected to grow at a significant CAGR from 2017-2023. Several government initiatives to check environment pollution, rise in production of electric vehicles, and high-end development of electric vehicle charging infrastructure are the major factors fueling the growth of the market. On the other hand, small number of EV charging stations and dearth of standardization of EV charging are expected to curb the growth to some extent. However, increase in demand for luxury vehicles has almost modulated the above factors and worked round for a number of opportunities for the frontrunners in the industry.

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In a nutshell, electric vehicle (EV) chargers are mainly used in laying out charging to electric vehicles by means of any cordless device or any electrical source that charges the battery. Different heights and planes of charging such as level 1, level 2, and level 3 are taken recourse to in order to charge such vehicles. Also, the fact that the cost of electric cars is comparatively lower than that of traditional vehicles has boosted the growth of electric vehicle chargers market yet more. Last but not the least; electric vehicles bring down the carbon footprint unleashed to the atmosphere, which holds toxic gas particles. To sum up, the market has started growing quite profusely and it's projected to expand yet more in the next few years.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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