Report : Europe EV Charging Infrastructure Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Platform (Hardware and Services), Hardware (AC Charger and DC Charger), Charger Type (Public Chargers and Private Chargers), and IEC Mode (2, 3, and 4)
At 17.2% CAGR, the Europe EV Charging Infrastructure Market is speculated to be worth US$ 7,781.43 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe EV charging infrastructure market was valued at US$ 2,561.65 million in 2021 and is expected to reach US$ 7,781.43 million by 2028, registering an annual growth rate of 17.2% from 2021 to 2028. The support from government policies and surge in production and sales of electric vehicles are the critical factors attributed to the market expansion.
The scaling of EV adoption across the region has resulted in the rising importance of convenient and affordable public chargers, which requires strong government support. Several governments have provided support for EV charging infrastructure by implementing measures such as direct investment to install publicly accessible chargers and incentives for EV owners to install charging points at home. Various metro cities and prominent urban center planners have taken stringent measures to support the widespread adoption of EVs, including strategic deployment of charging infrastructure and implementation of preferential/prohibited circulation or access schemes like low and zero-emission zones or differentiated circulation fees. For instance, the EU has adopted numerous directives and regulations that are driving the EV Charging Infrastructure Market in the region. These directives include CO2 emissions performance standards for cars and vans, Alternative Fuels Infrastructure Directive, and European Energy Performance of Buildings Directive, which are creating huge investment grounds for major EV charging infrastructure players in the market. The Alternative Fuel Infrastructure Directive (AFID) is the primary measure driving the implementation of public EV charging stations, aiming to install 1 million publicly accessible chargers by 2025. The resilient policy support from governments of major economies across the region is accelerating the growth of the EV charging infrastructure market.
On the contrary, high cost of arthroscopy devices hurdles the growth of Europe EV charging infrastructure market.
- Based on operator type, the Europe EV charging infrastructure market is bifurcated into charge point operator and e-mobility service providers. The charge point operator segment held 96.1% market share in 2021, amassing US$ 372.95 million. It is projected to garner US$ 3,000.81 million by 2028 to expand at 34.7% CAGR during 2021–2028.
- Based on platform, the Europe EV charging infrastructure market is bifurcated into hardware and services. The hardware segment held 69.6% market share in 2021, amassing US$ 1,782.70 million. It is projected to garner US$ 5,136.62 million by 2028 to expand at 16.3% CAGR during 2021–2028.
- Based on hardware, the Europe EV charging infrastructure market is bifurcated into AC charger and DC charger. The AC charger segment held 73.6% market share in 2021, amassing US$ 1,886.05 million. It is projected to garner US$ 5,457.18 million by 2028 to expand at 16.4% CAGR during 2021–2028. The AC charger segment is further divided into level 1 charger (120 v) and level 2 charger (240 v).
- Based on charger type, the Europe EV charging infrastructure market is bifurcated into public chargers and private chargers. The private chargers segment held 67.9% market share in 2021, amassing US$ 1,739.25 million. It is projected to garner US$ 4,998.02 million by 2028 to expand at 16.3% CAGR during 2021–2028.
- Based on IEC mode, the Europe EV charging infrastructure market is segmented into 2, 3, and 4. The 3 segment held 55.8% market share in 2021, amassing US$ 1,428.51 million. It is projected to garner US$ 4,205.98 million by 2028 to expand at 16.7% CAGR during 2021–2028.
- Based on country, the Europe EV charging infrastructure market has been categorized into the UK, Germany, France, Italy, Russia, and rest of Europe. Our regional analysis states that the UK captured 30.7% market share in 2021. It was assessed at US$ 786.22 million in 2021 and is likely to hit US$ 2,458.16 million by 2028, exhibiting a CAGR of 17.7% during the forecast period.
Key players dominating the Europe EV charging infrastructure market are ABB Ltd.; Blink Charging Co.; BOSCH Auto Parts; Delta Electronics, Inc.; Driivz Ltd.; Eaton; EVBox; Leviton Manufacturing Co., Inc.; Siemens AG; Tesla, Inc.; Tritium; Wallbox Chargers, S.L.; and Webasto Group among others.
In 2021, Blink Charging and SG Blocks, Inc. has signed a collaboration agreement to deploy Blink’s EV charging equipment and network via SG Blocks’ modular designs.
- In 2022, Driivz has formed strategic alliance with NRG, alternative electricity, and natural gas provider in Greece.
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