European Electric Vehicle Charging Outlets Market: Grow with a High CAGR- Global Industry Analysis, Key Manufacturers, Trends, Size, and Forecast: 2022-2031

Japan, Japan, Mon, 11 Apr 2022 06:02:22 / Comserve Inc. / -- The adoption of electric mobility in Europe has considerably increased over the past few years. In Europe, Norway and the Netherlands showed impressive uptake in the number of EV and charging outlets.

The adoption of electric mobility in Europe has considerably increased over the past few years. In Europe, Norway and the Netherlands showed impressive uptake in the number of EV and charging outlets. Substantial packages of government policies, incentives & subsidies to support the electric vehicle industry, huge investments by government & automakers, rising ownership of electric vehicle and falling price of EV batteries are attributed to be the major factors behind the growing market of electric vehicle that, in turn, affect EV charging outlets market in Europe. However, the high cost of EVs & charging equipment and ambiguity regarding the connectors of the chargers are hampering the market at present. On the other hand, growing adoption of solar EV charging stations and an anticipated growth in battery swapping are expected to provide wide opportunities for the companies operating in the EV charging outlets infrastructure market in the European region. European EV charging outlets market is expected to show a notable CAGR of 22% during the forecast period (2022-2031).

Market Segmentation
Electric Vehicle chargers can be deployed at public and private (residential buildings, workplaces and commercial spaces such as shopping malls, government building among others) locations. Installation base of EV charging outlets at public and private locations are expected to bolster in the coming years. This is owing to the increase in sales of electric vehicles, governmental support through subsidies, tax rebates and incentives.

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Furthermore, EV charging outlets are classified into slow and fast chargers based on the charging time needed to charge any fully depleted EV battery. Slow chargers dominated the market in 2017 and are expected to remain dominant during the forecast period, owing to its lower cost as compared to fast chargers.
In addition to this, based on the power and current required by the charging equipment, the European electric vehicle charging outlets market is segmented into level 1, level 2 and level 3 chargers. Level 1 and Level 2 chargers are categorized as slow chargers, while level 3 chargers are considered as the EV fast chargers. The charging time taken by the level 1 and level 2 chargers is much higher as compared to that of level 3 chargers. However, owing to low price compared to level 3 charger and fast charging capability compared to level 1 chargers, Level 2 chargers are the most preferred chargers deployed at public places across Europe.
On the basis of mode of charging, the market is segmented into plug in and wireless chargers. In 2017, plug-in chargers dominated the market. However, wireless chargers are expected to witness highest CAGR growth during the forecast period, owing to ongoing government initiative to increase the adoption of wireless chargers.
Across different countries in Europe, the Netherlands dominated the market in 2017. On the other side, the rapidly growing EV industry in Germany is expected to bolster the demand of EV charging outlets in the country. Hence, Germany is anticipated to witness the highest CAGR of 25.3% during the forecast period.

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Top Companies Profiled
Some of the major players operating in the European EV charging outlets market includes Siemens AG, ChargePoint Inc., Robert Bosch GmbH, EVBox, ABB Limited, Fortum OYJ, Continental AG, Schneider Electric SE, Tesla Inc. and The New Motion BV. These companies are entering into several strategies partnerships, merger-acquisitions, joint-ventures, product launches and business expansions to strengthen their position in the EV charging outlets market in Europe. In addition, Power utilities, tech start-ups and oil majors are all fighting to establish themselves as the dominant players in the fast-growing business in Europe. For the same, EDF announced its plan to target a 30% market share in electric vehicle charging in France, Belgium, Italy and the United Kingdom, aiming to supply power for 600,000 electric vehicles by 2022.

Reasons to buy this report:
• Historical and forecast market volume validated through primary and secondary sources
• In-depth analysis of prominent industry peers with primary focus on key business financials, product portfolio, expansion strategies, SWOT analysis and recent developments
• Examination on drivers, restraints, key trends and opportunities prevailing in the industry.
• Regulatory scenario, programs, investments and initiatives for EV charging outlets present in different countries
• Examination of industry attractiveness in Europe
• Comprehensive coverage of the market across different market segments

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