The market for electric vehicle supply equipment (EVSE) in Europe will be 14 times more profitable in 2020 than it is now, according to a study by Pike Research.
The group predicts that the sector’s revenue will shoot up from €72m (£57m) currently to as much as €1 billion (£793m) in just eight years’ time.
The findings appear in a report called Electric Vehicle Charging Equipment in Europe, which examines the sector’s presence across the continent and looks at the key market trends going forward.
“European sales of charging equipment have lagged North America because of a lack of standards and slower than expected EV sales”, said research director John Gartner.
“However, Pike Research expects that in a few years, consensus will be reached by auto manufacturers in the region on both AC and DC charging equipment, and market demand will accelerate rapidly beginning in 2015.”
Germany, which is famed for making strong, game-changing headway in renewable technologies, is highlighted as the potential market leader for electric vehicles. Pike Research’s study estimates that by 2020, 23% of the world’s EV charging systems could be sold in the country.
Elsewhere in Europe, Blue & Green Tomorrow wrote earlier this year how Estonia was one of the leaders in the EV race, after it announced plans to install the continent’s largest fast-charging network.
Meanwhile closer to home, Oxford was revealed to be at the forefront of the movement when a network of 64 charging points were switched on in the city, to make it the European leader in terms of charging points per capita.
Like our Facebook Page
How to Find an Eco-Friendly Termite Control Service Provider in Malaysia
Eco-Friendly Vegans Win Most Battles Not the War
3 Iconic Chicago Billboards Eco-Friendly Advertisers Can Learn from
EnviroSolar’s Abe Issa Discusses Success in Green Entrepreneurship
How Sports Could Be Impacted by Climate Change
What Eco-Friendly Patients Should Know about Online Therapy
6 Reasons Why Meal Delivery Services are Eco-Friendly
The Path for Retail’s Sustainable Future
4 Eco-Friendly Ways to Treat a Sinus Infection
4 Strategies for Eco-Friendly Real Estate Investors to Find Properties
How Managed Print Services Helps to Reduce Paper Waste
Why Scientists Are Concerned About ‘Forever Chemicals’ In Drinking Water
Meat Farming Is Only Getting Smarter, Easier & Eco-Friendlier
What is Eco-Friendly Homesteading and How Does it Affect Your Insurance?
Importance of Using a Water Purifier in an Area with High Pollution
Alternative Financing Ideas for Green Businesses that Shun Banks
Tencel Material Demand Shows Britain Is More Eco-Friendlier Than Ireland
How To Invest in Clean Energy Stocks in Only Five Easy Steps!
How To Secure Funding As An Eco-Entrepreneur?
4 Amazing Eco-Friendly Businesses Worth Starting in 2021
- Features8 months ago
Seven Health and Safety Tips for Eco-Friendly Products in a Green Home
- Energy9 months ago
Eco-Friendly Homeowners Lower Carbon Footprints through Greater Air Conditioner Efficiency
- Features8 months ago
Essential Guidelines for Eco-friendly Moving into new Home
- Invest10 months ago
The Eco-Friendly Evolution of Bitcoin Over the Years