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Europe EV Charging Infrastructure Market Size to Witness an Exceptional Growth by 2026

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According to the Graphical Research new growth forecast report titled “Europe EV Charging Infrastructure Market by (AC {Level 1, Level 2}, DC), By Charging Site (Public, Private) Industry Analysis Report, Country Analysis (Netherlands, Germany, UK, Italy, Spain, France), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018–2025”, to Witness a Exceptional Growth by 2025.

Europe EV Charging Infrastructure Market Value will undergo rapid growth on account of rising demand for energy efficiency, emission reduction and green transportation coupled with increasing collaboration among automobile manufacturing companies to achieve these objectives. Introduction of government policies and mandates to promote environmental sustainability along with increasing adoption rates of electric vehicles will aid product penetration. Focus on R&D activities to enhance product efficiency and ongoing investments toward infrastructure development will further drive the business growth.

Germany market share will grow on account of authorities introducing strict norms related to GHG emissions and their impact on the societal health. Increasing fuel prices and the simultaneous rise in popularity of electric vehicles will significantly contribute towards the industry development. With the International Energy Agency reporting a two-fold expected increase in EV sales by 2030, major players in the industry anticipate lucrative growth opportunities. Additionally, surging replacement rates of old vehicles with new EVs on account of rising awareness toward emission reduction will positively impact the business scenario.

Steep rise in diesel emission rates from on-road vehicles have resulted in the introduction of government regulations that support the adoption of green fuel vehicles which ultimately induces demand for its charging infrastructure deployment. Purchase incentives aid in the reduction of initial cost of such vehicles making it more affordable for individuals. Increasing taxes on traditional fuel backed vehicles will support the gradual shift to zero emission transportation, further contributing towards the market growth.

Netherlands is projected to register high growth rate on account of expansion in existing charging stations coupled with surging incidence of investments toward e-mobility. Technological development is anticipated to result in sufficient deployment of EV charging infrastructure so as to support cost reduction in the long run. Focus on improved energy management, faster and easier charging and efficient production & storage will stimulate the equipment deployment.

DC charging will witness growth owing to its ability to send and receive utility pricing signals along with connection to the grid & energy storage. Growing need for the installations of fast and ultrafast charging stations including, CCS, Tesla Superchargers and CHAdeMO will complement the market growth. Growing environmental awareness toward sustainable development coupled with the rising demand for green energy systems is set to strengthen the industry landscape.

Companies are actively pursuing partnerships and collaboration with other market players to offset the high cost of infrastructure development. Major players in the market are Siemens, Greenway Infrastructure, Daimler Mercedes-Benz, Shell., Schneider Electric, Renault and ABB amongst others.