(MENAFN- Ameliorate Digital Consultancy)
EV charging infrastructure market in Europe is anticipated to witness a lucrative growth rate over the forthcoming years. A sizable chunk of this growth would be driven by rising investment towards the establishment of comprehensive charging infrastructure across a number of the continent's economies.
Additionally, ongoing automotive R&D activities across the region are also expected to lend a major helping hand to the industry. Shifting consumer preferences towards EVs adoption will make up a key support pillar that would prop up revenue flows. In order to work, EVs require a sophisticated charging infrastructure in place that can effectively transfer electric energy from the distribution grid to vehicle battery. The essential nature of the infrastructure warrants immense investments from private and government entities.
Following are some of the key trends that would shape the EV charging infrastructure market in Europe growth:
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1. Escalating demand for private charging stations
Based on charging site, the private charging units segment will witness robust demand over the coming time period. Owners of electric vehicles are increasingly focusing on setting up effective charging stations in their respective parking facilities and garages.
Compared to other chargers, level 1 chargers are mostly placed low on the electricity panel, making the decision for residential installation feasible. Furthermore, stringent building energy and performance requirements, in line with a sharp off-peak power rebates offered by utilities to allow electric power suppliers to pay for very low demand periods are creating favorable conditions for the segment.
2. Rapid phasing-in of EVs across Germany
On the regional front, EV charging infrastructure industry in Germany will show strong impetus over the coming time period. The growth is ascribed to key factors such as increasing adoption of technically advanced EVs, rising use of public sector stations, and implementation of numerous fast charging standards. The technological failings of highly crowded metropolitan cities, with more street and expansive commercial parking spaces will also act as a mechanism for rising public transport demand.
The recent outbreak of the COVID-19 pandemic has caused the European Union to shift its focus away from other activities and towards health facilities. The subsequently imposed lockdown also majorly affecting ongoing work on the infrastructure projects, leading to drop in production across the industry globally. But, with vaccine rollouts across the region, and the resulting steady opening of the infrastructure projects, the market is likely to grow from the second half of 2021.
E. ON SE, Nissan Motors, BMW, Schneider Electric, ChargePoint, Hyundai Motors, RWE, Siemens, Mercedes-Benz, Volkswagen Group, Greenway Infrastructure, and ABB among others are some of the key companies in the EV charging infrastructure market in Europe. These participants are focusing on technological advancements through strategic collaborations and mergers & acquisitions to endure their position across the industry.
3. Increasing deployment of AC charging stations
In terms of current, AC charging stations will observe a noteworthy growth over the analysis time period. This growth can be accredited to the increasing product deployment across commercial & residential establishments and ongoing developments in technology toward developing in built features.
Moreover, Increasing charging station constructions and adoption of electric vehicles structure codes will strengthen the industry growth. Introduction incentives for organizations, businesses, and multi-family properties to build their own EV charging points will further augment the industry growth.
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Table of Contents (ToC) of the report:
Chapter 4 EV charging infrastructure market in Europe, By Current (Units) (USD)
4.1 EV charging infrastructure market in Europe share by current, 2021 & 2027
4.2.1 Market estimates and forecast, 2017 – 2027
4.2.2 Market estimates and forecast, by country, 2017 – 2027
4.3.1 Market estimates and forecast, 2017 – 2027
4.3.2 Market estimates and forecast, by country, 2017 – 2027
Chapter 5 EV charging infrastructure market in Europe, By Charging Site (Units) (USD)
5.1 EV charging infrastructure market in Europe share by charging site, 2021 & 2027
5.2.1 Market estimates and forecast, 2017 – 2027
5.2.2 Market estimates and forecast, by country, 2017 – 2027
5.3.1 Market estimates and forecast, 2017 – 2027
5.3.2 Market estimates and forecast, by country, 2017 – 2027
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