Germany EV Charging Infrastructure Market Size

Germany EV Charging Infrastructure Market Analysis

The Germany EV Charging Infrastructure Market size is estimated at USD 412.48 million in 2024, and is expected to reach USD 636.78 million by 2029, growing at a CAGR of 9% during the forecast period (2024-2029).

Germany EV charging infrastructure market has generated revenue of USD 378.42 million in the current year and is poised to register a CAGR of 9.01% for the forecast period.

The German EV charging infrastructure is driven by the increase in the market share of EVs and the rising government's efforts to build EV charging station infrastructure.

• Electric vehicles are booming in Germany, with them the required demand for public charging stations. In 2022, sales of passenger electric vehicles in Germany reached 833,500 units, up by 22% from 2021, as per data from the German Association of the Automotive Industry or VDA. To support this growing number of EV sales in the region, the Federal Ministry for Digital Affairs and Transport has announced a charging infrastructure master plan. The master plan aims to expand the public and private charging infrastructure in Germany.
• In addition, Germany is highly focused on the transition to renewable energies. The growth of EV charging infrastructure is in phase with this transition as these vehicles help in reducing greenhouse gas emissions, promote sustainable transportation, and allow the use of renewable energy sources like wind or solar for charging. Moreover, the growth of EV Charging infrastructure is accelerated by Germany's concepts of urban planning and smart city development.
• Germany ranks in first place when it comes to the number of charging station facilities in Europe. There were around 70,000 charging stations in the country in 2022, according to the data from the National Control Centre for Charging Infrastructure of Germany. Bayern, Nordrhein-Westfalen, and Baden-Wurttemberg are the leading states with higher numbers of electric vehicle charging infrastructures in Germany.
• However, the high price of building EV charging stations and the expertise required in building them are some of the key restraining factors for the Germany EV charging infrastructure market over the forecast period. On the other hand, factors like smart charging solutions, energy management, and software solutions, and a growing number of charging services are providing tremendous opportunities for the growth of the market studied.