EV Charging Infrastructure Market in Europe to witness robust expansion by 2027

Europe EV charging infrastructure market will grow during 2021-2027 as rising environmental concerns and increasing need for sustainable energy solutions. The region has stringent energy efficiency standards as well, which will compel manufacturers to switch to producing electric vehicles. According to reports, this market is predicted to show promising rise in revenue by 2027.

Today, more and more people are opting for electric vehicles as they are a suitable alternative to fossil fueled vehicles. This has led to an upsurge in the production of electric vehicles in the region, which will also increase production of their charging stations and related infrastructure.

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Public charging stations will experience increased demand among customers and will benefit the growth of EV charging infrastructure market in Europe. This is because people are gradually becoming aware about the environmental hazards posed by fossil fueled vehicles and want to leave behind minimum carbon footprint. There is growing necessity as well to install DC fast and ultra-fast charging stations such as Tesla superchargers and ChadeMo.

The battery technology used to power electric vehicles is constantly being innovated by its manufacturers. This has given rise to improved battery performance and efficiency. In fact, these electric-powered batteries can also be exchanged for new ones. This is why battery exchange stations are being installed across the region.

Germany EV charging infrastructure market will showcase promising growth during the forecast period, the reason being rise in the demand for technologically advanced electric vehicles. Implementation of stringent energy efficiency standards is another reason for the growth of this market.

There will be a rise in private charging stations, which will positively influence the development of EV charging infrastructure in Europe. An increasing percentage of the population in the region is opting for charging their electric vehicles in their parking spaces or garages by abiding to the strict residential power and energy requirements.

Time and speed of charge is another factor that will impact Europe EV charging infrastructure market. These vehicles take just 30 minutes to charge and consume maximum electricity in doing so. However, the 30-minute charge adds around 90 miles to it, which is quite encouraging when compared to the overall performance of conventional fossil fueled vehicles.

The COVID-19 pandemic posed several hurdles in the growth of EV charging infrastructure sector in Europe. The reason being lockdowns and several other restrictions imposed by governments across the region. The crisis also halted the construction of charging stations and related infrastructure due to severe shortage of manpower and raw materials.

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However, with the gradual reopening of various industries and ease in lockdown restrictions, this industry is also reported to show gradual expansion in the future. For example, the government of Germany recently announced a series of incentives and plans to encourage the installation of charging stations and to urge people to buy electric vehicles.

The companies involved in the provision of EV charging infrastructure in Europe are BMW Group, Volkswagen Group, Siemens, Hyundai Motors, ABB, Mercedes-Benz, Schneider Electric, Greenway Infrastructure, among others.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research methodology

1.2    List of data sources

1.2.1    Primary

1.2.2    Secondary

Chapter 2   Market Snapshot

2.1    Europe EV charging infrastructure market snapshot

Chapter 3   Europe EV Charging Infrastructure Market Trends

3.1    Industry coverage

3.2    Industry size & forecast, 2017 – 2027

3.3    Value chain analysis

3.3.1    Company product snapshot

3.4    Innovation Landscape

3.5    COVID-19 impact on the industry outlook

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis – Porter’s

3.9    Product growth mapping

3.10    Competitive benchmarking, 2020

3.10.1    Company strategies

3.11    PEST analysis

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