Europe EVSE Market Size Likely to Reach at a CAGR of 24.2% By 2033

As per the current market research conducted by CMI Team, the Europe EVSE Market size is expected to record a CAGR of 24.2% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 15.82 Billion. By 2032, the valuation is anticipated to reach USD 111.49 Billion.

Europe EVSE Market: Growth Factors and Dynamics

• Increasing Electric Vehicle Adoption: The Europe EVSE market is driven by the rising adoption of electric vehicles (EVs) across the region. As governments and consumers embrace sustainable transportation, the demand for EV charging infrastructure experiences substantial growth.

• Supportive Government Policies: Favorable government policies, incentives, and regulations play a crucial role. Substantial investments and initiatives to expand charging infrastructure contribute to the market’s dynamic growth, fostering a conducive environment for stakeholders.

• Technological Advancements in Charging Solutions: Continuous advancements in EV charging technologies, including fast-charging capabilities and smart charging features, drive market dynamics. Innovations enhance the efficiency, convenience, and accessibility of charging infrastructure.

• Expansion of Public Charging Networks: The market benefits from the ongoing expansion of public charging networks. Investments in urban and highway charging stations alleviate range anxiety, making EVs more attractive and practical for consumers across Europe.

• Collaborations and Strategic Partnerships: Collaborations between automakers, EVSE providers, and energy companies contribute to market growth. Strategic partnerships facilitate the development of comprehensive and interoperable charging solutions, supporting the seamless integration of EVs into European transportation networks.

• Increased Consumer Awareness: Growing awareness among consumers regarding the benefits of electric vehicles and the availability of widespread charging infrastructure is a significant growth factor. Education and outreach efforts contribute to increased consumer confidence and adoption of EVs, driving the demand for EVSE.

• Evolving Energy Transition Goals: Europe’s focus on energy transition and sustainability goals accelerates the growth of the EVSE market. Aligning with broader environmental objectives, governments and industries invest in developing robust charging infrastructure, promoting the integration of electric vehicles into the energy ecosystem.

• Incentives for Private and Commercial Installations: Incentive programs for both private and commercial installations of EVSE contribute to market dynamics. Financial incentives, grants, and subsidies provided by governments encourage individuals and businesses to invest in charging infrastructure, fostering widespread accessibility and utilization.

Europe EVSE Market: Partnership and Acquisitions

• In 2023, Walmart and Sam’s Club in the United States aim to enhance electric vehicle (EV) accessibility by planning to establish an extensive EV fast-charging network at thousands of their outlets nationwide by 2030. This initiative supplements the existing nearly 1,300 EV fast-charging stations at over 280 facilities, making EV ownership more convenient and widespread.

• In 2022, Tevva, an electric truck manufacturer, established a base at MIRA Technologies Park in Nuneaton, Warwickshire. This strategic move provides Tevva with proximity to HORIBA MIRA’s specialized engineering and testing facilities, including crash testing, climatic, dynamics, and aerodynamic resources, facilitating collaboration on cutting-edge automotive technology.

Report Scope

Europe EVSE Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the Europe Electric Vehicle Supply Equipment Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Temporary Slowdown in Installations: The COVID-19 pandemic led to a temporary slowdown in EVSE installations across Europe as lockdowns, supply chain disruptions, and economic uncertainties affected project timelines and investments.

• Reduced EV Sales Impacting Charging Infrastructure Demand: With a decline in electric vehicle sales during the pandemic, the demand for new charging infrastructure installations was impacted, reflecting the interconnected nature of EVSE market dynamics with overall EV adoption rates.

• Government Stimulus Packages: European governments have implemented stimulus packages to revive the economy post-COVID-19. These packages include provisions for green initiatives, supporting the EVSE market through funding for charging infrastructure projects and incentivizing private investments.

• Resumed Focus on Sustainable Transportation: The renewed emphasis on sustainable transportation post-pandemic has prompted governments and industries to prioritize electric mobility. This focus accelerates the recovery of the EVSE market, aligning with broader environmental goals and encouraging investments in charging infrastructure.

• Accelerated Investments in Charging Networks: Post-pandemic, accelerated investments in charging networks are observed. Governments and private entities recognize the pivotal role of EVSE in achieving clean mobility goals, leading to an increased commitment to funding and expanding comprehensive charging networks across Europe.

• Technology and Innovation Adoption: The recovery involves a heightened focus on technology and innovation in EVSE solutions. Advancements in smart charging, improved user interfaces, and enhanced interoperability contribute to the market’s recovery by making electric vehicle charging more efficient, user-friendly, and integrated into daily life.

• Consumer Confidence and Education Programs: To facilitate recovery, there is a concerted effort to rebuild consumer confidence through education programs. Promotional campaigns and awareness initiatives aim to inform the public about the benefits of electric vehicles and the accessibility of charging infrastructure, encouraging renewed interest and trust in the EVSE market.

In conclusion, the COVID-19 pandemic has had a mixed impact on the Europe EVSE Market, with some challenges and opportunities arising from the pandemic.

List of the prominent players in the Europe EVSE Market:

• ABB Ltd.
• Siemens AG
• Schneider Electric SE
• Tesla Inc.
• Eaton Corporation plc
• Allego B.V.
• EVBox Group
• Delta Electronics Inc.
• Engie SA
• ChargePoint Inc.
• Iberdrola S.A.
• DBT-CEV
• Efacec Power Solutions S.A.
• Circontrol S.A.
• Heliox B.V.
• Others

The Europe EVSE Market is segmented as follows:

By Power

• AC
• DC

By Product

• Portable Charger
• Onboard Charging Station
• EV Charging Kiosk
• Others

By Charging Station

• Normal Charging
• Inductive Charging
• Super Charging

By Application

• Residential
• Commercial

Regional Coverage:

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe