European Electric Vehicle Charging Stations Market: Meticulous Research® Reveals Why This Market Is Expected to Reach a Value of $61.73 Billion at a CAGR of 34.7% by 2029

Electric vehicle charging stations are sites where one or more EVSEs are installed. These sites can be residential or commercial. Electric vehicle charging stations supply energy to EVs either through special electrical conductors that conform to electric charging connector standards or through inductive power transfer technology to recharge plug-in electric vehicles, including electric cars, electric buses, and special-purpose electric vehicles. In its latest publication on the European electric vehicle charging stations market, Meticulous Research states that the market is projected to reach a value of $61.73 billion by 2029 at a CAGR of 34.7% during the forecast period 2022-2029. By volume, this market is expected to reach 6,458.8 thousand units by 2029 at a CAGR of 37.8% during the forecast period 2022-2029.

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The growth of this market is driven by increasing government initiatives to promote the adoption of EVs and develop the associated infrastructure, the rising demand for EV fast-charging infrastructure, and the increasing prevalence of range anxiety among EV users. France, Germany, the Netherlands, Norway, and the U.K. are Europe's top five leading countries in terms of EV adoption and the number of EV charging points. Increasing R&D in V2G technology and the growing deployment of charging stations by retail MNCs are expected to create growth opportunities for the players operating in this market.

For efficient analysis, Meticulous Research® has segmented this market based on charging type (Level 1, Level 2, and DCFC), connection type (pantograph, connector, and wireless), component (hardware, software, and services), mounting type (wall, pedestal, and ceiling), vehicle type (passenger cars, heavy commercial vehicles, light commercial vehicles, and two-wheelers & scooters), end user (commercial EV charging stations and residential EV charging stations), and geography.

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Based on charging type, the Level 2 segment is expected to account for the largest share of the European electric vehicle charging stations market in 2022. The segment's large share is mainly attributed to government initiatives for improving EV charging infrastructure in the region, lower installation costs of Level 2 chargers compared to DC fast-charging stations, and greater time-efficiency of Level 2 chargers compared to Level 1 charging stations.

Based on connection type, the connector segment is expected to account for the largest share of the European electric vehicle charging stations market in 2022. The segment's large share is mainly attributed to increasing investments by the regional stakeholders of electric mobility in developing EV charging infrastructure, growing collaborations between electric vehicle charging station solutions providers and utility companies and fuel station operators to deploy EV charging stations, and increasing collaborations between governments and automakers to expand the DC fast-charging infrastructure in the region.

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Based on component, the hardware segment is expected to account for the largest share of the European electric vehicle charging stations market in 2022. The segment's large share is mainly attributed to the increasing infrastructural development aimed at supporting the transition to electric mobility, the rising demand for EV charging stations to support long-range travel, and attractive fiscal and non-fiscal incentives for setting up units for the manufacture of EV charging stations and related components.

Based on mounting type, the wall mount segment is expected to account for the largest share of the European electric vehicle charging stations market in 2022. The segment's large share is mainly attributed to the increasing fiscal & non-fiscal incentives offered to private property owners and management companies for developing EV charging infrastructure, the ease of installing wall-mounted EV chargers, and effective space utilization with the use of wall-mounted chargers.

Based on vehicle type, the passenger cars segment is expected to account for the largest share of the European electric vehicle charging stations market in 2022. The segment's large share is mainly attributed to favorable government policies and increasing subsidies for promoting the adoption of electric vehicles, growing awareness regarding the role of electric vehicles in reducing emissions, increasing fuel prices, and growing initiatives by automotive OEMs to increase their presence in the electric mobility space.

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Based on end user, the commercial segment is expected to account for the larger share of the European electric vehicle charging stations market in 2022. The segment's large share is mainly attributed to increasing government initiatives such as incentives, tax credits, and subsidies for deploying EV charging stations at commercial sites. Moreover, this segment is expected to register the higher CAGR during the forecast period.

Geographically, Germany is expected to account for the largest share of the European electric vehicle charging stations market both by value and volume in 2022. The large share of this market is mainly attributed to rising government investments for purchasing electric buses, the rapid development of charging infrastructure, and incentives for purchasing electric vehicles. For instance, as of 2021, there are ~35,000 charging points available for EV users in Germany that seek public loading facilities in addition to workplace or residential EV charging stations (Source: BCG). Germany is considered one of the countries that have boosted the adoption of EVs globally. As per the 2030 Climate Action Programme launched in October 2019, the German government planned to have up to 10 million EVs and 1 million EV charging stations on German roads by 2030. According to Germany's Federal Ministry of Economics and Energy, as of 2020, nearly 18,385 charging stations were open for public use in Germany. According to the German government's 'Master Plan for Charging Infrastructure,' an additional 50,000 public charging points are to be built over the next two years, with a long-term goal of 1 million by 2030.

The U.K. is expected to account for the second-largest share of the European electric vehicle charging stations market by value. The growth of this market is mainly driven by growing government investments and incentives for the development of charging infrastructure in the country, the growing incorporation of electric buses in public transport fleets, and focused government efforts to make central London and town centers across the U.K. zero-emission zones by 2025.

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The report provides competitive intelligence in terms of the financials, growth strategies, product portfolios, and geographical presence of some of the key players operating in this market, including Webasto Group (Germany), EVBox Group (Netherlands), BP p.l.c. (U.K.), Royal Dutch Shell PLC (Netherlands), Connected Kerb Limited (U.K.), Électricité de France (France), Fastned B.V. (Netherlands), Route220 S.r.l. (Italy), Compleo Charging Solutions AG (Germany), and GreenWay Holding S.A (Slovakia).

Related Reports:

1. Europe Electric Car Market by Propulsion Type (BEV, FCEV, PHEV, HEV), Power Output (Less Than 100kW, 100 kW to 250 kW), End Use (Private, Commercial), and Geography - Forecast to 2028
https://www.meticulousresearch.com/product/european-electric-car-market-5213

2. European Electric Vehicle Market by Vehicle Type (Passenger Vehicle, LCV, HCV, Two-wheeler, e-Scooters & Bikes); Propulsion Type (BEV, FCEV, HEV); Power Output (Less Than 100kW, 100 kW to 250 kW); End Use, Charging Standard, and Geography - Regional Forecast to 2028
https://www.meticulousresearch.com/product/european-electric-vehicle-market-5227

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