The EV charging sector in Europe is predicting significant economic growth in the next 10 years, creating hundreds of thousands of jobs and adding €92bn to the European economy. A recent independent study commissioned by ChargeUp Europe revealed that battery-electric vehicles are expected to represent 44% of passenger cars in the EU by 2035, driving the growth of the charging infrastructure. The sector is expected to provide added value through electricity sales, hardware, planning, installing, smart charging, and operation, leading to a substantial increase in employment opportunities.
However, the main obstacle hindering the full potential of e-mobility in Europe is the connection to the electricity grids, with delays caused by a lack of charging points and congestion in some countries like the Netherlands. Strict regulations imposed by national energy regulatory authorities are limiting the investment in grid expansion, creating challenges for the EV charging industry. To address this issue, there is a need for investment in expanding the grid, updating regulations, and opening the door to more EV chargers.
Despite these challenges, the industry remains optimistic about its ability to meet market demand. Most countries are up to date with their EU-targets for EV charging points, indicating progress in the sector. However, uncertainty in regulations and the capital-intensive nature of investments may pose obstacles to the rapid deployment of new chargers. Experts, including members of the European Parliament, agree that more support is needed at the EU level to boost the e-mobility market, increase demand for EVs, and ensure competitive electricity prices to facilitate the sector’s growth.
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