The Germany electric vehicle charging stations market is estimated to be valued at US$529.297 million in 2020.
Electric Vehicle (EV) charging stations are a source of electricity to recharge electric vehicles. Public and private charging stations are the two most common types of charging stations. Workplace charging stations and public locations are examples of public charging stations. Private charging stations include charging at home or at fleet facilities. Range anxiety is a major drawback for EVs. The dread of running out of power in the middle of a journey and not being able to reach a charging station is known as range anxiety. In order to overcome this obstacle and motivate individuals to use more EVs, drastic investments are made to enhance electric vehicle charging stations or the charging infrastructure market.
Electric vehicle charging stations have led to an increase in the sales of EVs. Germany aims to become a net-zero carbon emission country by 2045 and aims to cut emissions by up to 65% by 2030. The policies to curb the emission are emphasized towards increasing the usage of EVs. For this, several actionable steps are taken. Further, Germany is striving to not be dependent on other countries for fuel and power. Due to high dependency on other countries for oil and gas, namely Russia (31.5%), Norway (11.3%), and the United Kingdom (11.9%) (source: EIA). Moreover. Germany has reduced its oil imports from Russia after the Russia-Ukraine tension. This will promote the use of EVs and go with it. The electric vehicle charging station market will grow.
According to IEA, there were around 44,669 public chargers in Germany in 2020. Of which 37,213 are slow chargers and 7,456 are fast chargers. These numbers are further expected to increase in the forecast period.
The sales of electric vehicles have increased in Germany over the past 5-10 years. There were about 5,311 electric cars sold in 2013 and reached 394,943 in 2020 (Source: IEA). About one-third of the cars sold in the last two months of 2021 were electric cars. Germany holds the largest market share for electric vehicles in Europe.
The country’s aim to become decarbonized by 2045 is a key driver for implementing favourable policies to promote EVs and EV infrastructure, including EV charging stations. Germany plans to have up to 10 million EVs and about 1 million charging stations by 2030. Furthermore, tax cuts and subsidy allocation are strengthening the market. In the forecast period, the market for EV charging stations is anticipated to grow tremendously due to the factors discussed above.
COVID-19 did not as such, influence the electric vehicle charging station market in the region. Due to several policies and subsidies, the demand for EVs has increased and with it, the demand for EV charging stations has also increased. For all of the above reasons, the market for electric vehicle charging stations in Germany is anticipated to grow in the forecast period.
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Stadtwerke Lünen Charging Station
Bals Elektrotechnik GmbH & Co.
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