Authored By: Sarah
11 Jul 2024

 Electric Vehicle (EV) Charging Connector Market in Europe Size to grow by USD 58.6 million between 2024-2028

According to a research report “ Electric Vehicle (EV) Charging Connector Market in Europe” by Charging (Slow charging, Fast charging, Rapid charging) Geography (Europe)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 58.6 million, at a CAGR of  19.09% during the forecast period. The European market for Electric Vehicle (EV) charging connectors has experienced substantial growth due to the increasing adoption of EVs in the region. Fueled by government initiatives, technological advancements, and rising consumer awareness, Europe has become a global leader in EV market penetration. In 2021, electric vehicle sales in Europe surged, with Germany accounting for a quarter of total car sales. Pioneering countries like Norway have set ambitious targets to phase out Internal Combustion Engine (ICE) vehicles, with a significant portion of new vehicle sales being electric. Generous incentives, robust charging infrastructure, and a high level of environmental consciousness among consumers have contributed to Norway's success in EV adoption.

Browse market data tables, figures, and in-depth TOC on “Electric Vehicle (EV) Charging Connector Market in Europe” by Charging (Slow charging, Fast charging, Rapid charging) Geography (Europe) Global Forecast to 2028. Download Free Sample

 

By Charging, the Slow charging segment is projected to dominate the market size in 2024

ai_market_segmentation_by

By Geography, Europe  segment is expected to hold the largest market size for the year 2024

In the European Electric Vehicle (EV) charging market, slow chargers represent the most widely used charging solution. These chargers deliver an average power output of 3 kW, with some models offering up to 6 kW. Charging times vary depending on the specific charging unit and EV model, with an average EV requiring 6-12 hours to fully charge on a 3 kW unit. The majority of these chargers are untethered, necessitating the use of a separate cable to connect the EV to the charging point. Slow chargers are ideal for overnight charging and are the preferred choice for those with limited charging infrastructure or for those who do not require rapid charging.

Europe is forecasted to hold the largest market size by region in 2024

The European Electric Vehicle (EV) Charging Connector Market is experiencing significant growth due to increasing EV adoption and stringent emissions regulations. Key players in this market include ABB, Schneider Electric, Siemens, and Bosch. These companies are investing heavily in R&D to develop advanced charging solutions, such as fast-charging and wireless charging systems. The market is expected to reach new heights with the rollout of the Alternative Fuels Infrastructure Directive and the European Green Deal initiative.

The Electric Vehicle (EV) Charging Connector Market in Europe growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ABB Ltd.
  • Alfen NV
  • Allego BV
  • Amphenol Corp.
  • BP Plc
  • ChargePoint Holdings Inc.
  • Efacec
  • Fujikura Co. Ltd.
  • HUBER SUHNER AG
  • ITT Inc.
  • Lumberg Holding GmbH and Co. KG
  • Robert Bosch GmbH
  • Schneider Electric SE
  • Siemens AG
  • Sumitomo Corp.
  • TE Connectivity Ltd.
  • Tesla Inc.
  • Webasto SE
  • Yazaki Corp.
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

The Electric Vehicle (EV) Charging Connector Market in Europe is witnessing significant growth due to the increasing adoption of automobiles that run on electricity as part of the push towards environment-friendly vehicles. Governments in Europe are offering tax credits and incentives to encourage the purchase of EVs, leading to a surge in demand for charging infrastructure. However, challenges such as the overheating issue during DC fast charging and the need for standardization in charging connectors persist. The Combined Charging System (CCS) is gaining popularity with its Type 2 connector and its ability to support both AC and DC charging. The market is also witnessing the emergence of various charging power sources, including residential charging and charging stations, with charging poles and EV couplers becoming common sights. The EV Sector in Europe is expected to continue growing, with electricity becoming an increasingly important power source for automobiles. Charging time and power transfer efficiency are key considerations for EV charging connector manufacturers. Emission norms and carbon emission concerns are driving the demand for EVs, making the EV Charging Connector Market in Europe an exciting space to watch.

Market Research Overview

The Electric Vehicle (EV) Charging Connector Market in Europe is witnessing significant growth due to the increasing adoption of electric automobiles and stringent emission norms. Site assessments and installation services are crucial for setting up charging networks, which include public charging stations and residential charging. The charging network is expanding with various charging power sources, including AC and DC charging, offering different power outputs from 200V to 600V and charging times. Government incentives, such as tax credits, subsidies, grants, and tax breaks, are driving the EV sector forward. However, challenges like overheating issues, especially during DC fast charging, require innovations in charging technology, such as the Combined Charging System (CCS) with its Type 1 connector. Hybrid technology and emission norms are pushing carmakers to produce more environment-friendly vehicles, leading to an increase in charging points and fast-charging vehicles. The EV charging connector market includes various charging levels, such as Level 1, 2, and 3 charging, with Level 3 charging offering faster power transfer using a 45 kW external charger and a charging pole. Electricity from various power sources is transferred to the battery through Electric vehicle couplers. The future of the EV charging connector market lies in advanced charging technologies and infrastructure development, making electric vehicles a viable and convenient alternative to traditional automobiles.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio