Dublin, July 18, 2024 (GLOBE NEWSWIRE) -- The "France Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The France electric vehicle (EV) charging stations market is projected to rise at a compound annual growth rate (CAGR) of 49.35% to reach a market valuation of US$9,604.754 million in 2029, from US$579.547 million in 2022.
France is one of the most technologically advanced countries in Europe. According to the Europe Environment Agency, Europe's total electricity consumption by electric vehicles will increase from 4-5% in 2030, and 9.5% in 2050, and the share of electric vehicles as part of the entire EU-28 car fleet in 2050 was assumed to be 50%.
Some of the major factors that are contributing to the overall market growth are government incentives, the growing need to meet future energy demands, and increasing sales of electric vehicles in the country. The market share of battery electric vans stagnated at 8% in Germany in 2023, while the share in France increased to 7%, up from 5% in 2022. (Source: ICCT). These figures are collaborated by the number of public chargers installed by country and charger type till 2023, for AC type charger, it is 91,705, and for DCFC, it is 20,130, according to eco-movement.
Moreover, rising pollution coupled with increasing support to adopt green transport in the region will further drive the overall market growth during the forecast period. Rising pollution levels in the country are leading to an increase in GHG emissions, and therefore, shifting the focus of the country towards the adoption of green mobility for a safe and sustainable future.
Rising private investments in the construction of well-equipped charging infrastructure and effective strategies adopted by the country's government for the improvisation of electric mobility would further propel the overall market growth. For instance, Such as Logivolt, a startup specializing in chargers for apartment buildings, covers all initial costs associated with the electrical installation of EV chargers and is subsequently reimbursed by residents over time.
This financing model is made possible through a loan from Caisse des Depots, a French public financial institution. Tenants who opt to use the service are charged a fixed connection fee, while non-participating tenants are not charged any fees. In addition to providing expertise and turnkey solutions, Logivolt handles the application and collection of available government subsidies, relieving the building manager of this administrative burden.
In April 2023, a national decree enabled the public utility company Enedis to prefinance the electrical installation of charging infrastructure in apartment buildings. Enedis recovers its investment by establishing a fixed price for EV owners in the building who install a charger in their parking spot. This price is applied only when EV owners require a charger and remains consistent for all residents within the same building.
Rising adoption of EVs and favourable government initiatives is anticipated to propel market growth.
Some of the prime reasons supporting the overall market growth are the rising adoption of electric vehicles in the country and favourable government initiatives.
Around 17,74,723 electric vehicles were sold in 2023 and are expected to grow at an exponential rate as France is Europe's second-largest automaker (Source: ICCT). Compared to other European nations, it is second highest only after Germany, followed by with Italy, 15,71,820, and Spain, 9,60,214 new car registrations in 2023. The country is planning to ban fossil fuel cars by 2040 and encourage people to adopt electric vehicle mobility. Paris has also announced plans to ban all petrol and diesel vehicles from the city by 2030, which will propel the overall market growth in the coming years. The government is also planning to have a fleet of 1 million BEVs and PHEVs.
Further, the government's promotion of renewable energy sources of electricity to ensure environmentally safe electrification in vehicles is assisting in the growth of EVs, electric vehicles and this will significantly accelerate the development of electric vehicle charging infrastructure across the nation over the next seven years.
Additionally, the government is increasingly providing incentives and subsidies for purchasing EVs and developing related charging infrastructure in light of the environmental advantages of EVs. Under its 2030 investment plan, the French government is planning to invest EUR 2.5 billion to support the production of nearly two million electric and hybrid vehicles and EUR 1.2 billion in R&D activities . In Mar 2022, the Government announced its plans to support the deployment of high-power charging stations for electric vehicles. For this, the govt. has set a total budget of EUR 300 million and is planning to complete this project by the end of 2024.
The France electric vehicle charging stations type of electric vehicle in battery electric vehicle is projected to grow
Battery electric vehicles are powered by an electric motor that draws energy from a sizable traction battery pack. A BEV is connected to a wall outlet or other charging apparatus, like an electric vehicle supply apparatus, for operation. BEVs are completely electric cars that run solely on electricity. They lack an exhaust system, internal combustion engine, or fuel tank.
They also have a quieter engine, a better gearbox, and require less maintenance. The French government has taken several measures to promote the adoption of BEVs to meet EU standards for zero-emission vehicles by 2030. It is anticipated that this will increase demand for BEVs on the market and, consequently, for charging stations in France. In addition to offering various advantages to BEV users, like tax breaks and incentives, the government also wants to increase domestic production in the nation. The government intends to raise the current production capacity to 600,000 by 2025, with a target date of 2022.
The government has implemented financial incentives for businesses and individuals, up to 10% of the cost of a BEV, to promote the private purchase of BEVs. Therefore, the number of BEV registrations in the nation is increasing. According to IEA data, the number of new BEV registrations in the nation increased from 1,10,000 in 2020 to 1,71,000 in 2021. Industry participants in the France electric vehicle charging stations sector are concentrating on significant investments, which are also expected to support the rising demand for these vehicles.
For instance, in February 2024, IoTecha Corp., a top supplier of intelligent charging systems for electric cars, was pleased to take part in the opening of the Mobilize Powerbox production line at LACROIX's Beaupreau, France, plant. A smart, safe, networked, bidirectional AC EV charger called the Mobilize Powerbox was created in association with Software Republique. As Software Republique's technology partner, IoTecha leverages its IoT.ONTM platform to facilitate the quick launch of Software Republique's cutting-edge EV charging solution.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 107 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $579.55 Million |
| Forecasted Market Value (USD) by 2029 | $9604.75 Million |
| Compound Annual Growth Rate | 49.3% |
| Regions Covered | France |
Companies Featured
- Lafon Technologies
- EVBox (ENGIE Digital)
- Tesla
- EDF Group
- Schneider Electric SA
- TotalEnergies
- ChargePoint, Inc.
- Shell Recharge
- Leviton Manufacturing Co., Inc.
- Logivolt
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
2.1. Research Design
2.2. Research Process
3. EXECUTIVE SUMMARY
3.1. Key Findings
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter's Five Forces Analysis
4.4. Industry Value Chain Analysis
4.5. Analyst View
5. FRANCE ELECTRIC VEHICLE CHARGING STATIONS MARKET BY TYPE OF ELECTRIC VEHICLE
5.1. Introduction
5.2. Battery Electric Vehicle (BEVs)
5.2.1. Market Trends and Opportunities
5.2.2. Growth Prospects
5.3. Plug-in Hybrid Electric Vehicle (PHEV)
5.3.1. Market Trends and Opportunities
5.3.2. Growth Prospects
6. FRANCE ELECTRIC VEHICLE CHARGING STATIONS MARKET BY APPLICATION
6.1. Introduction
6.2. Public
6.2.1. Market Trends and Opportunities
6.2.2. Growth Prospects
6.3. Private
6.3.1. Market Trends and Opportunities
6.3.2. Growth Prospects
7. COMPETITIVE ENVIRONMENT AND ANALYSIS
7.1. Major Players and Strategy Analysis
7.2. Market Share Analysis
7.3. Mergers, Acquisitions, Agreements, and Collaborations
7.4. Competitive Dashboard
8. COMPANY PROFILES
For more information about this report visit https://www.researchandmarkets.com/r/cyp2sr
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