The Europe Electric Vehicle Charging Connector Market would witness market growth of 18.1% CAGR during the forecast period (2023-2030).
Due to an increase in the manufacturing of electric vehicles, there are more electric vehicle stations, and EV charging connectors are becoming more and more common. The focus of EV connector manufacturers is on improving charging compatibility and supplying the market with more effective connectors.
While most of the demand for charging is now satisfied by home charging, more public chargers are required to offer the same degree of convenience and accessibility as refueling conventional vehicles. Public charging infrastructure is a critical enabler for EV adoption, especially in dense metropolitan settings where access to home charging is more constrained. The IEA estimates that by the end of 2022, the total number of fast chargers in Europe was over 70 000, an increase of over 55% from 2021. Germany (almost 12000), France (9700), and Norway (9000) are the nations with the fastest chargers available.
Toxic compounds in vehicle exhaust emissions, including carbon monoxide, sulfur dioxide, nitrogen oxides, and others, contribute to global warming, health issues, and others. Exhaust emissions are kept to a bare minimum in electric vehicles. Excessive reliance on fossil fuels, such as coal and petroleum, and other energy sources leads to the depletion and extinction of natural resources.
During the projected period, Europe is likely to grow its market share of EV charging connections globally, leading to a rise in EV demand. France's leadership in renewable energy and the United Kingdom's ban on the sale of diesel and gasoline vehicles will both help this sector of the economy grow. With more than 80,000 slow chargers, the Netherlands tops Europe, followed by 50,000 in France, 40,000 in Germany, 30,000 in the United Kingdom, 20,000 in Norway, and just over 12,000 each in Norway and Sweden. Over 30% more public fast chargers were installed in Europe, totaling close to 50000 units. In addition to these, there are 9,200 public fast chargers in Germany, 7,700 in the UK, 6,700 in Norway, 4,500 in France, 2,600 in Netherlands, and 600 in the Netherlands. Hence, the rapid expansion of EVs will substantially aid in the expansion of the market throughout the forecast period.
The Germany market dominated the Europe Electric Vehicle Charging Connector Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $11.7 Million by 2030. The UK market is anticipated to grow at a CAGR of 17.2% during (2023 - 2030). Additionally, The France market would showcase a CAGR of 19.2% during (2023 - 2030).
Based on End User, the market is segmented into Residential and Commercial. Based on Type, the market is segmented into CCS, Chademo, GB/T and Others. Based on Charging Speed, the market is segmented into Slow and Fast. Based on Charging Level, the market is segmented into Level 3, Level 2 and Level 1. Based on countries, the market is segmented into Germany, UK, France, Russia, Norway, Netherlands, and Rest of Europe.
Free Valuable Insights: The Worldwide Electric Vehicle Charging Connector Market is Projected to reach USD 181.2 Million by 2030, at a CAGR of 18.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Sumitomo Electric Industries, Ltd., Siemens AG, Schneider Electric SE, Robert Bosch GmbH, TE Connectivity Ltd., Yazaki Corporation, HUBER+SUHNER AG, ITT, Inc., Amphenol Corporation, Tesla, Inc.
By End User
By Type
By Charging Speed
By Charging Level
By Country
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