Europe Electric Vehicle Charging Stations Market – Industry Trends and Forecast to 2029
Europe electric vehicle charging stations market was valued at USD 491.050 million in 2021 and is expected to reach USD 71661.20 million by 2029, registering a CAGR of 50.10% during the forecast period of 2022-2029.
Europe Electric Vehicle Charging Stations Market Analysis and Size
Vehicles can be plugged into charging station to fuel up rather than filling gallons of gas. More and more people are inclining towards electric vehicles with the growing awareness regarding environmental issues globally.
Battery Electric Vehicle (BEV) accounts for the largest application segment in the respective market owing to the increase in the demand from the adoption of connected vehicles. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Europe Electric Vehicle Charging Stations Market
On the other hand, lack of standardization of charging infrastructure and primitive power grid infrastructure are expected to obstruct market growth. Also, high initial cost of EVs compared to ICE vehicles and stringent rules for installation of EV charging stations are projected to challenge the electric vehicle charging stations market in the forecast period of 2022-2029.
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