Europe’s Electrical Vehicle (EV) Charging Market Prediction This 2029
The electric vehicle charging stations in the European market is anticipated to grow to around $61.73 billion by 2029. Electric vehicle (EV) charging stations are places that can be commercial or residential, supplying electricity to EVs to charge the batteries.
Government initiatives are the primary factors that propel the European electric vehicle charging stations market growth. These initiatives promote the shift to the use of electric vehicles, develop the associated infrastructure, and increase EV deployment by shared mobility operators.
Moreover, factors like increasing the Research and Development (R&D) R&D and the deployment of charging stations are expected to generate growth opportunities for the players in this market.
Depending on the charging type, the Level 2 segment will account for the most significant share of the European EV charging stations market in 2022. The large percentage is mainly due to the increasing government funding or incentives and cheaper installation expenditures of Level 2 charging stations compared to DC fast-charging stations.
Then, based on the mounting type, the wall mount segment will account for the most extensive portion of the European electric vehicle charging stations market in 2022. Most of this is because of the comfort of installing wall-mounted chargers and incentives for private property owners or management companies to deploy EV chargers.
