European electric vehicle charger market is forecast to grow at a CAGR of over 20.0% during the forecast period, 2019-2025. Major factors for the growth of the market include increasing share of electric vehicles in the regional total vehicle fleet, government initiatives such as subsidies and rebate, high awareness among people and the presence of major market players in the region. Countries are providing significant subsidies to promote electric vehicle sales. For instance, Germany is expected to increase its grants for plug-in hybrids from $3,300 to around $5,000 whereas for cars of prices over $44,000 the grant can be increased to more than $5,500. Some of the major electric vehicle companies working in the region include BMW AG, Audi AG, Ford Motors Co., Jaguar Land Rover, Tesla Inc., Volkswagen AG and so on. As per the International Energy Agency (IEA), around 1.2 million electric cars were on road in Europe with a growth of 385,000 in a year. As per an estimate by the IEA, around half of the vehicles sold in Europe will be an electric vehicle by 2030.
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European electric vehicle charger market is segmented on the basis of ownership, charger type, and connector type. By ownership, the market is further bifurcated into Public and Private. Public chargers are anticipated to grow at a considerable growth rate during the forecast period. By charger type, the market is divided into slow chargers and fast chargers. Due to government and private funding, the fast charger market is estimated to grow at the highest growth rate in the region. By connector type, the market is further divided into AC connectors and DC connectors. AC connector market is further divided into Type 1, Type 2 and other segments, whereas the DC connector market is segmented into CHAdeMO, Combined Charging System (CCS), Type 2 (Tesla). DC connectors are expected to show a considerable growth rate during the forecast period.
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European Electric Vehicle Charger Market Segmentation
By Ownership
- Public
- Private
By Charger Type
- Slow Charger
- Fast Charger
By Connector Type
- AC Connectors
- Type 1
- Type 2
- Other (Domestic Socket)
DC Connectors
- CHAdeMO
- Combined Charging System (CCS)
- Type 2 (Tesla)
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