Electromobility is picking up pace in Europe: according to the European Automobile Manufacturers’ Association (ACEA), 878,000 new electric vehicles were registered in 2021 – up from 539,000 the previous year.
It is anticipated that 100 per cent of all newly registered cars will be electric in Europe from 2035. However, this increase in demand also requires the charging infrastructure to expand alongside – preferably as quickly as possible.
Despite the fact that the number of charging points in the EU has increased significantly over the last five years (+180 per cent), the total number lags far behind the number that is actually needed.
A recent study from the ACEA shows that, by 2030, up to 6.8 million public charging points will be required in order to achieve the CO2 reduction target of 55 per cent for cars – which means that, in less than ten years, the number of charging points needs to increase more than 22-fold.
It is a huge market that offers great opportunities for companies who manufacture and sell charging solutions. The market researchers at Fortune Business Insights are expecting the global market for charging stations to increase from 17.59 billion US dollars in 2021 to 111.90 billion US dollars in 2028.
But it is not just the charging hardware which is crucial to success in this market; the manufacturers at the forefront will be those with the best software for energy management and “bidirectional” charging.
Furthermore, charging point manufacturers can generate extra income with the data collected from energy management in conjunction with local and national power grids.
According to business consultants at Roland Berger, these types of additional services alone will be worth six billion US dollars in 2030. All of this does not just present fantastic opportunities for the providers of such charging solutions, but also for the electronic components industry.
Because no charging point or charging station would work without power electronics, connectivity solutions or charging controllers.
At EBV Elektronik and Avnet Abacus, we support manufacturers with everything they need for their charging solutions – starting from the right hardware and software modules, to the necessary charging cables and plugs, right up to specific cloud solutions.
The time-to-market can be reduced significantly with this end-to-end solution, providing the best starting point to secure a share in the market of this rapidly expanding industry.
Rudy Van Parijs, President Avnet Abacus and Thomas Staudinger, President EBV Elektronik
