In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
The Germany electric vehicle (EV) charging station infrastructure market is projected to exhibit a significant CAGR during the forecast period, i.e., 2021-2029. The market is anticipated to grow on account of the growing focus of the government of Germany to lower the gap between two EV charging sites along with the increasing sales of electric vehicles in the nation. According to the statistics by the European Environment Agency (EEA), the share of new registrations of electric vehicles in Germany is estimated to almost double in the year 2019 as compared to 2018. On the other hand, the share of EVs in the nation is further estimated to reach around 40% of the total passenger vehicle sales by 2030. To support the growing number of electric vehicles, there is a need to deploy around 5 million public chargers by 2030. Additionally, the market is also anticipated to grow on account of the availability of the numerous favorable initiatives of the government for the promoting the adoption of electric vehicles. For instance, the government of Germany has laid out a dedicated advisory council titled the German National Platform for Electric Mobility (Nationale Plattform Elektromobilitat) which aims to enhance electric mobility in the nation. Additionally, increasing adoption of numerous stimulus plan to develop a robust EV charging infrastructure in the nation is also anticipated to contribute to the market growth. CLICK TO DOWNLOAD SAMPLE REPORT
The market is segmented by charger plug type into type 1 and type 2. Among these segments, the type 2 segment is projected to hold the largest market share by the end of 2021. The growth of the segment can be attributed to the growing availability of type 2 chargers in the nation, as well as for the presence of a large fleet of electric vehicles with type 2 charger connector. Type 2 chargers usually help to charge the batteries faster as compared to type 1 charger and also protect the batteries of the vehicle from overcharging.
The market is also segmented by application into commercial and residential. Amongst these segments, the commercial segment is projected to hold the largest market share by the end of 2029. Alternatively, the residential segment is projected to grow with a significant CAGR during the forecast period, backed by the growing awareness amongst the individuals for EV chargers for use in domestic purposes. Additionally, increasing availability of domestic EV chargers is also anticipated to contribute to the growth of the segment in the coming years.
Ans: Rising need to develop a robust EV charging infrastructure in the nation is one of the major factors driving the market growth.
Ans: The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2021-2029.
Ans: The high cost of EV charging stations is one of the major factors estimated to act as barriers to the growth of the market.
Ans: The major companies in the market are ebee smart technologies GmbH, innogy eMobility Solutions GmbH, MENNEKES Elektrotechnik GmbH & Co. KG, alpitronic GmbH, Tritium Group, E.On Energie Deutschland GmbH, and others.
Ans: The company profiles are selected based on the revenues generated from segments, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The Germany electric vehicle (EV) charging station infrastructure market is segmented by type of charging station, charging mode, charger plug type, type of charger, and by application.
Ans: The type 2 charger plug type segment is projected to hold the dominating share by the end of 2021 as these chargers are equipped with the functionalities of quickly charging the vehicles.