An electric vehicle charging equipment is a device that charges electric vehicles (EVs), such as hybrids and electric cars. It is used for recharging plug-in electric vehicles, including battery electric vehicles, electric trucks, electric buses, neighbourhood electric vehicles, and plug-in hybrid vehicles. It is also referred to as a charge point, or electric vehicle supply equipment. Power grids can run charging stations with software, energy controllers, network operations centres, facility meters, and energy conversion. Multiple charging grades are possible with this charger. EV chargers can be divided into three groups: Level 1, Level 2, and Level 3. Level 1 charging stations use a regular household outlet, level 2 charging stations are compatible with all-electric vehicles, and level 3 charging stations are direct current (DC) fast chargers that can quickly charge cars.
According to SPER Market Research, ‘Germany EV Charging Equipment Market Size- By Vehicle Type, By Charger Type, By Charging Level, By Application- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’, states that the Germany EV Charging Equipment Market is estimated to reach USD 11.04 billion by 2033 with a CAGR of 26.2%.
Germany’s increasing demand for EV charging equipment can be attributed to a number of causes, including favourable government legislation, an increase in the ownership of electric vehicles, and the advantageous growth of the charging infrastructure in the nation. Germany has the greatest number of charging station sites than any other country in Europe. The business has grown remarkably as a result of government initiatives that support the infrastructure needed for EV charging. The rise in the adoption of electric vehicles is the main factor driving the market for EV charging equipment. Because of environmental concerns, governments worldwide have urged businesses and customers to convert from cars with combustion engines to electrical alternatives.
The market expansion for electric vehicle charging equipment may be hindered by the high costs involved. The initial high costs of home charging setups may prevent widespread adoption, especially from consumers on a tight budget. Convenient charging choices for electric vehicle users are hindered by the scarcity of charging stations in some locations. Acquiring several stations puts a load on businesses and public charging networks. Charging infrastructure suppliers find it difficult to turn a profit due to the high startup and ongoing costs. Moreover, the lack of standardized electric car charging equipment has become more evident. The use of EV charging stations is restricted as some of them may only accept voltage categories.
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The COVID-19 pandemic has impacted both the car industry overall and the German market for electric vehicle charging stations. Due of travel restrictions and severe lockdown procedures in some sections of the region, the pandemic forced customers to postpone purchasing electric cars. The industry is suffering from a shortage due to supply chain disruptions since the majority of the raw materials used in EV charging stations are sourced from China. However, the sector saw a robust post-lockdown recovery, and by the end of 2020, EV adoption was increasing, which supported market growth. Sales of electric vehicles are significantly impacted by the COVID-19 pandemic and its consequences on the automobile sector.
Key Players:
The largest market share for Germany Electric vehicle Charging Equipment is held by the South and West regions, including Bavaria and North Rhine-Westphalia due to their industrial foundations and proximity to European markets. Allego GmbH, Bals Elektrotechnik GmbH Co., ChargePoint, Stadtwerke Lunen Charging and Tesla are a few of the major names in the market.
Germany EV Charging Equipment Market Segmentation:
By Vehicle Type: Based on the Vehicle Type, Germany EV Charging Equipment Market is segmented as; Battery Electric Vehicle (BEV), Plug-in Hybrid Electric Vehicle (PHEV).
By Charger Type: Based on the Charger Type, Germany EV Charging Equipment Market is segmented as; Fast, Moderate, Slow.
By Charging Level: Based on the Charging Level, Germany EV Charging Equipment Market is segmented as; Level 1 (AC Charging), Level 2 (AC Charging), Level 3 (DCFC).
By Application: Based on the Application, Germany EV Charging Equipment Market is segmented as; Private, Public.
By Region: This research also includes data for Baden-Württemberg, Bayern, Hessen, Niedersachsen, Nordrhein-Westfalen, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Germany EV Charging Equipment Market Outlook
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