Europe Electric Vehicle Supply Equipment Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the Europe Electric Vehicle Supply Equipment Market 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.

The Europe Electric Vehicle Supply Equipment (EVSE) market is a dynamic sector facilitating the charging infrastructure for electric vehicles (EVs) across the continent. Shaped by the increasing adoption of EVs, key players like ABB, Siemens, and Tesla drive the market with innovations in charging technologies.

Government incentives, expanding public charging networks, and a growing emphasis on sustainability contribute to the market’s vibrancy. EVSE providers play a pivotal role in supporting Europe’s transition to clean and efficient mobility, offering solutions that cater to the evolving needs of the electric vehicle ecosystem.

Europe Electric Vehicle Supply Equipment Market – Significant Growth Factors

The Europe Electric Vehicle Supply Equipment Market presents significant growth opportunities due to several factors:

• Government Support and Incentives: Strong government backing, including financial incentives, regulatory support, and ambitious sustainability goals, drives the expansion of EVSE infrastructure across Europe.

• Increasing Electric Vehicle Adoption: The rising adoption of electric vehicles contributes significantly to the growth of the EVSE market. As more consumers embrace electric mobility, the demand for accessible and efficient charging solutions grows.

• Technological Advancements: Continuous innovations in charging technologies, such as fast-charging solutions and smart charging capabilities, fuel the demand for advanced EVSE infrastructure.

• Collaborations and Partnerships: Collaborations between automakers, energy companies, and EVSE providers facilitate the development of comprehensive and interoperable charging networks, promoting seamless integration of electric vehicles.

• Expansion of Public Charging Networks: The ongoing expansion of public charging networks, both in urban areas and along highways, addresses range anxiety concerns and fosters the widespread adoption of electric vehicles.

• Integration with Renewable Energy Sources: There is a significant opportunity to integrate EVSE with renewable energy sources, promoting sustainable and environmentally friendly charging solutions.

• Enhanced User Experience: Opportunities lie in enhancing the overall user experience, including user-friendly interfaces, payment systems, and innovative features, to make electric vehicle charging more convenient and appealing.

• Cross-Border Charging Infrastructure: Creating cross-border charging infrastructure presents an opportunity for seamless travel across European countries, encouraging the growth of electric vehicle adoption and the corresponding need for EVSE solutions.

Europe Electric Vehicle Supply Equipment Market – Mergers and Acquisitions

The Europe Electric Vehicle Supply Equipment Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Europe Electric Vehicle Supply Equipment Market include:

• In 2023, The Federal Highway Administration (FHWA) revised its National Electric Vehicle Infrastructure (NEVI) Formula Program guidance, unveiling the Alternative Fuel Corridors (AFC) Round 7 designation requests for nominations. The USD 5 billion NEVI Formula Program allocates funds to states for developing electric vehicle (EV) charging infrastructure, requiring annual EV Infrastructure Deployment Plans from each state, with plan revisions to be submitted for FHWA approval by August 1, 2023.

• In 2022, HORIBA expanded its Leichlingen branch in North Rhine-Westphalia and officially completed its new facility in Magdeburg-Barleben, Saxony-Anhalt. The USD 38 million investment establishes the new headquarters for HORIBA FuelCon GmbH, a subsidiary specializing in fuel cells, batteries, and electrolyzers, housed in the “eHUB” building in the Technologiepark Ostfalen in Magdeburg-Barleben.

These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Europe Electric Vehicle Supply Equipment Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Europe Electric Vehicle Supply Equipment Market – Significant Threats

The Europe Electric Vehicle Supply Equipment Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:

• Policy and Regulatory Uncertainties: Ambiguous or changing policies and regulations related to EVs and charging infrastructure can create uncertainty and hinder long-term investment plans for EVSE providers.

• Economic Downturns and Funding Challenges: Economic downturns can impact funding availability for EVSE projects. Budget constraints, reduced investments, or shifts in governmental priorities during economic crises may slow down the deployment of charging infrastructure.

• Interoperability Challenges: Lack of standardization and interoperability between different charging technologies can create fragmentation and inconvenience for EV users, potentially slowing down the overall adoption of electric vehicles.

• Technological Disruptions: Rapid technological advancements may pose a threat, especially if newer charging technologies gain quick acceptance, diverting attention and investments away from existing EVSE solutions.
• Consumer Reluctance and Range Anxiety: Persistent concerns about range anxiety and a reluctance among consumers to switch to electric vehicles can affect the demand for EVSE infrastructure. A lack of confidence in the availability and accessibility of charging stations may hinder market growth.

Category-Wise Insights

By Power:

• AC (Alternating Current) Charging: AC charging, prevalent in homes and workplaces, involves slower charging via standard electrical outlets. Trends include the integration of smart AC charging solutions, enabling remote monitoring and control, and the deployment of public AC chargers in urban areas, catering to daily charging needs.

• DC (Direct Current) Fast Charging: DC fast charging provides rapid charging, crucial for long-distance travel. Trends feature the proliferation of high-power DC chargers along highways, reducing charging times significantly. Innovations focus on enhancing the efficiency of DC fast-changing technologies for seamless electric vehicle adoption.

By Product

• Portable Charger: Portable chargers are indispensable for electric vehicle (EV) users on the move, offering flexibility and convenience. Recent trends in the Europe Electric Vehicle Supply Equipment (EVSE) market include a shift towards compact, lightweight designs, rapid-charging capabilities to minimize downtime, and integration with smart technologies for seamless user experiences, including mobile apps for monitoring and controlling charging sessions.

• Onboard Charging Station: Onboard charging stations, integral to electric vehicles, has witnessed ongoing enhancements. Recent trends focus on higher charging capacities to reduce overall charging times, improved efficiency to optimize energy usage, and increased compatibility with various electric vehicle models, reflecting the evolving landscape of electric mobility and the desire for standardized charging solutions.

• EV Charging Kiosk: EV charging kiosks play a pivotal role in establishing a centralized charging infrastructure. Recent trends highlight user-centric features, such as intuitive interfaces for straightforward operation, contactless payment options for added convenience, and integration with renewable energy sources, aligning with sustainable charging practices. These kiosks cater to the evolving needs of electric vehicle users and contribute to the broader goals of green transportation.

• Others: The “Others” category encompasses emerging and innovative EVSE products, showcasing the dynamic nature of the market. Recent trends within this segment emphasize advancements in wireless charging technologies, grid integration for enhanced energy management, and the incorporation of energy storage solutions. These innovations aim to provide comprehensive and efficient electric vehicle charging experiences, addressing the diverse requirements of the evolving electric mobility ecosystem in Europe.

By Charging Station

• Normal Charging: Normal charging stations provide standard AC charging, typically at home or workplaces. Trends include an increasing focus on smart charging features, energy efficiency, and integration with renewable energy sources to enhance the accessibility and convenience of everyday charging for electric vehicles.

• Inductive Charging: Inductive charging employs wireless technology, enabling EVs to charge without physical connections. Trends highlight advancements in inductive charging infrastructure, addressing efficiency concerns and fostering innovative urban charging solutions for increased user convenience.

• Super Charging: Supercharging stations offer high-power DC fast charging, significantly reducing charging times. Trends involve the expansion of supercharger networks along highways and key routes, ensuring rapid charging accessibility, and advancements in charging technology to accommodate higher charging capacities and support long-distance travel.

By Application

• Residential: In the Europe Electric Vehicle Supply Equipment (EVSE) market, residential applications involve home-based charging solutions. Trends indicate a growing demand for user-friendly and cost-effective residential EVSE units. Smart charging integration and incentives for home installations contribute to the increasing adoption of residential EV charging solutions.

• Commercial: Commercial EVSE applications focus on charging infrastructure in public spaces, workplaces, and commercial settings. The trend highlights a rapid expansion of public charging networks, emphasizing faster-charging capabilities and integrated payment solutions. Collaborations between businesses and EVSE providers drive the development of comprehensive and convenient commercial charging solutions.

Report Scope

Competitive Landscape – Europe Electric Vehicle Supply Equipment Market

The Europe Electric Vehicle Supply Equipment Market is highly competitive, with a large number of manufacturers and retailers operating. Some of the key players in the market include:

• 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

These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.

Emerging players like EVBox, Allego, and Ather Energy have embraced innovation, focusing on advanced charging technologies, user-friendly interfaces, and smart charging solutions to enter the Europe Electric Vehicle Supply Equipment (EVSE) market.

Established leaders such as ABB, Siemens, and Tesla dominate the market with extensive experience, technological expertise, and widespread charging infrastructure. ABB’s innovative solutions, Siemens’ smart charging advancements, and Tesla’s Supercharger network contribute to their market dominance, attracting consumers and shaping the evolving landscape.

The Europe Electric Vehicle Supply Equipment 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