Europe Electric Vehicle (EV) Fast Charging System Market 2030

Europe market of EV fast charging system (AKA high-power chargers) accounted for $822.7 million in 2020 and will grow by 32.7% annually over 2020-2030 driven by the rising number of government policies for electric vehicles, better availability of charging infrastructure and minimizing carbon dioxide emissions.

The growth of this market is mainly driven by increasing government initiatives to promote the adoption of EVs and the development of associated infrastructure, the rising demand for EV fast-charging infrastructure, and the increasing prevalence of range anxiety among EV users. France, Germany, the Netherlands, Norway, and the U.K. are the top five leading countries in Europe in terms of EV adoption and EV charging infrastructure. In 2021, the Europe Union has set a target of installing one million public charging points for electric vehicles by 2024 and three million by 2029 to empower consumers in Europe to switch to electric mobility. The Norwegian government’s adaptive approach towards infrastructure development also includes implementing wireless EV charging systems for commercial transportation.  the DC fast charging segment is projected to record the highest CAGR during the forecast period.

The high growth of this market is mainly attributed to increasing government initiatives for installing fast-charging stations, subsidies for the installation of DC fast-charging stations, increasing investments from automakers towards the development of DC fast-charging station infrastructure to support their long-range battery-electric vehicles, and the ability of DC fast chargers to enable faster charging as compared to Level 1 & Level 2 charging stations. Further, the growth of this market is also attributed to the increasing implementation of software to overcome challenges such as optimizing charging station operation, high configurability of software for offering various services to EV owners, such as sending notifications about the availability of charging stations or the completion of charging, and the increasing adoption of smart-charging management software by OEMs.

With advancements in electric drivetrain technology, governments in Europe are driving the transition to electric mobility as a sustainable model for public and private transportation. Considering the environmental benefits of EVs, governments are increasingly offering incentives and subsidies for the purchase of EVs and the development of associated charging infrastructure. For instance, in May 2019, Italy ratified the' Eco-Bonus' program, with the allocation of €60 million ($67.2 million) and €70 million ($78.4 million) in 2020 and 2021, respectively, toward subsidies for purchasing hybrid or low-emission vehicles and developing EV charging infrastructure. Under this scheme, individuals, companies, and condominiums have been offered a 50% tax deduction (of up to €3,000/$ 3,360.3) on the purchase of EVs and the installation of EV chargers from 1st March 2019 to 31st December 2021. Charging stations are an important part of the electric vehicles’ ecosystem. Several governments are allocating funds for the development of charging infrastructure to address the increasing need for EV charging infrastructure in Europe. For instance, Norway has established an extensive charging infrastructure to support the adoption of EVs. The Norwegian government aims to set up fast-charging stations at every 50km.

Sweden is expected to register the fastest growth by value during the forecast period. The factors contributing to the rapid growth of this country-level market are growth in the country’s EV fast-charging infrastructure and the increasing adoption of electric vehicles. Sweden is one of the leading Europe countries to ban diesel-powered vehicles and adopt electric mobility. The Swedish government has started investing in EV charging stations across the country. The Swedish Transport Administration is increasingly investing in the expansion of public EV fast-charging stations. For instance, in June 2020, the Swedish Transport Administration announced state support toward expanding public charging stations on major roads for the fast charging of electric vehicles.

Denmark is expected to hold the second position, following Sweden in terms of growth by value during the forecast period. The factors driving the growth of this country-level market are increasing government initiatives to reduce carbon dioxide emissions and low taxes on the purchase of electric vehicles. Denmark has installed EV charging spots in its 30 biggest cities. The Danish government has pledged to roll out 775,000 electric/hybrid cars on its roads by 2030 to reduce greenhouse gas emissions by 70%.

COVID-19 Impact
The COVID-19 pandemic has impacted most countries around the globe, causing a widespread economic downturn. Several countries imposed strict lockdowns to contain the infection, which led to the temporary closure of manufacturing industries and disruptions in supply chains and production schedules. There has been a profound impact, particularly on technology supply chains. The economic slowdown significantly disrupted the automotive industry, causing a rapid decline in sales of light vehicles. Furthermore, shifts in consumers’ buying behavior due to uncertainties surrounding the pandemic are expected to have significant consequences for the automotive industry's growth in the coming years. Also, the revenues of fleet operators were severely affected and are expected to decline further in the coming months.  However, governments from affected Europe countries have turned to infrastructure rehabilitation for stimulating economic recovery. Several governments are focused on developing charging infrastructure either through direct investments (for public charging stations) or by providing subsidies (for installing private charging stations at residences and workplaces). In Germany, the government announced a stimulus package worth €2.5 billion to develop infrastructure for electric vehicles and construct charging stations.

Highlighted with 34 tables and 49 figures, this 110-page report “Europe Electric Vehicle (EV) Fast Charging System Market 2020-2030 by Connector Type, Charging Power, Application, Vehicle Type, EV Type, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Europe EV fast charging system market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2015-2020 and provides forecast from 2021 till 2030 with 2020 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Europe market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify Europe EV fast charging system market in every aspect of the classification from perspectives of Connector Type, Charging Power, Application, Vehicle Type, EV Type, and Country.

Based on Connector Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• CHADeMO
• SAE Combo Charging System
• Supercharger
• GB/T

Based on Charging Power, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• 50-150 KW
• 150-350 KW
• Over 350 KW

Based on Application, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• Public Fast-charging Systems
• Private Fast-charging Systems

Based on Vehicle Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• Light Vehicles
• Heavy Vehicles

Based on EV Type, the Europe market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

Geographically, the following national/local markets are fully investigated:
• Germany
• UK
• France
• Netherlands
• Italy
• Russia
• Rest of Europe (further segmented into Spain, Switzerland, Turkey, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland)
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2020-2030. The breakdown of key national markets by Charging Power, Application, and EV Type over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in Europe EV fast charging system market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players (this may not be a complete list and extra companies can be added upon request):
ABB Ltd.
Blink Charging Co.
BP Chargemaster Ltd.
Broadband TelCom Power, Inc.
ChargePoint Inc.
Delta Electronics, Inc.
Efacec Electric Mobility
EVBox
EVgo
Siemens AG
Signet EV Inc.
Star Charge
Tesla, Inc.
Tritium Pty Ltd
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)