10 Biggest EV Charging Companies In Europe – EQ Mag
In this article, we will discuss the 10 biggest EV charging companies in Europe. If you want to skip our detailed analysis of Europe’s EV charging industry, you can go directly to 5 Biggest EV Charging Companies In Europe.
Electric vehicles are growing their market share in Europe. According to statistics from ACEA, battery-electric vehicles made up 11.9% of EU passenger car registrations in the third quarter of 2022, up from 9.8% in the comparable quarter a year ago. Hybrid electric cars held a 22.6% market share of EU passenger cars in the third quarter of 2022, up from 21.2% in the third quarter of 2021.
The EV Charging Industry of Europe: An Analysis
Electric vehicle charging stations, also known as EVSEs, are devices that charge electric vehicles. They are sometimes also referred to as EV chargers or EV charge points. EVSEs come in a variety of shapes and sizes, but all share a common purpose: to deliver electrical energy to an electric vehicle in order to recharge its batteries. The vast majority of EVSEs are Level 2 chargers, which means that they deliver 240 volts of alternating current (AC) to the vehicle. Level 2 chargers are much faster than Level 1 chargers, which only deliver 120 volts of AC. A Level 2 charger can typically charge an electric vehicle in 3-8 hours, while a Level 1 charger can take up to 40 hours to give a full charge. There are also Level 3 chargers, which are also known as DC fast chargers. These chargers deliver direct current (DC) to the vehicle and can charge an electric vehicle in as little as 30 minutes. However, Level 3 chargers are much less common than Level 2 chargers and are typically only found at commercial or public charging stations.
According to an industry analysis report published by Data Bridge Market Research, the European electric vehicle charging stations market was worth $491 million in 2021. The market is expected to hit a valuation of $71.6 billion by 2029, growing at a compound annual growth rate of 50.10% from 2022 through 2029. The increasing sales volumes of battery electric vehicles, or BEVs, are the major catalysts of this growth. Moreover, the technological advancements in IoT and the convenience of real-time vehicle analytics are expected to fuel the growth of the European EV charging industry.
McKinsey researchers estimate that, as of 2021, Europe had roughly 375,000 electric vehicle charging stations installed. In order to decarbonize and achieve carbon neutrality by 2050, which is the goal of the European Union, McKinsey estimates that the continent would need at least 3.4 million operational public EVSEs by 2030. This amounts to an investment that is north of EUR 240 billion by 2030.
Some of the publicly traded key players in the EV charging market include ChargePoint Holdings, Inc. (NYSE:CHPT), Blink Charging Co. (NASDAQ:BLNK), and EVgo, Inc. (NASDAQ:EVGO). We also covered other privately held biggest EV charging companies in the world in a separate article. However, in this article, we will discuss in detail some of the biggest European EV charging companies.
Our Methodology
To determine the biggest EV charging companies in Europe, we studied industry analysis reports and identified major players operating in the space. We narrowed down our selection to companies with a strong footing in the European EV charging industry. We included both public and private companies in our list. For public companies, we used the market cap to determine their rank. For private companies, we gave weight to their revenue which was sourced from official financial reports and credible databases of financial information such as Growjo.
Biggest EV Charging Companies In Europe
10. Efacec
Annual Revenue (2020): EUR 216 Million
Efacec is a leading Portuguese provider of electric vehicle (EV) charging stations, with a strong presence in Europe, North America, and Asia. The company offers a wide range of products, including AC and DC chargers, fast chargers, and ultra-fast chargers. Efacec has a strong R&D department and is constantly innovating to offer the latest and most efficient EV charging solutions. Efacec has a prominent presence in 65 countries and employs over 2500 employees across Europe, the Americas, and Africa. According to the company’s 2020 annual report, Efacec generated revenue of EUR 216 million in 2020. Efacec is ranked among the biggest EV charging companies in Europe.
Some of the most prominent players in the global EV charging market include Efacec, ChargePoint Holdings, Inc. (NYSE:CHPT), Blink Charging Co. (NASDAQ:BLNK), and EVgo, Inc. (NASDAQ:EVGO).
9. EVBox
Annual Revenue (Estimated): $337.4 Million
EVBox is a leading global provider of electric vehicle charging solutions. Its products and services are used by major companies and organizations worldwide and its mission is to accelerate the shift to electric mobility by making it easy and convenient for everyone to charge their electric vehicles. The company offers a comprehensive range of products and services, including home and public charging stations, and software for managing charging networks. EVBox’s products are designed to be user-friendly and easy to install and operate. The company’s charging stations are compatible with all major electric vehicle brands, and its software is designed to work with all major charging networks. The company is headquartered in the Netherlands and has offices in the United States and Europe. EVBox has an estimated annual revenue of $337.4 million and is ranked among the biggest EV charging companies in Europe.
8. Webasto SE
Annual Revenue (2021): EUR 3.7 Billion
Webasto SE is a German automotive equipment company that has a long history of providing innovative solutions for the automotive industry. Webasto SE has a strong global presence, with a network of sales and service partners in over 50 countries. The company’s products are backed by a comprehensive warranty and service program. Webasto SE is constantly innovating and introducing new products and features to the market, which helps to keep it at the forefront of the EV charging stations market.
Webasto SE is a leading provider of electric vehicle (EV) charging stations. The company offers a wide range of products and services to meet the needs of EV drivers and businesses. Webasto SE has a strong presence in the EV charging stations market and is known for its quality products and services. The company offers a wide range of EV charging stations, including fast chargers, semi-fast chargers, and slow chargers. Webasto SE also offers a variety of services, such as installation, maintenance, and repair. According to the company’s website, Webasto SE has delivered more than 115,000 EV chargers to its clients across the globe. Webasto SE is among the biggest EV charging companies in Europe by revenue. In 2021, the company reported a revenue of EUR 3.7 billion.
7. Allego N.V. (NYSE:ALLG)
Market Cap as of November 18: $949 Million
Allego N.V. (NYSE:ALLG) engages in the provision of electric vehicle (EV) charging solutions. The company is based in Amsterdam, the Netherlands, and has an installed base of 31,000 charging points across Europe. Allego N.V. (NYSE:ALLG) is a leading provider of electric vehicle (EV) charging solutions, with a comprehensive product and service offering for both home and public chargers. The company has a strong presence in Europe and offers a wide range of products, including AC and DC chargers, and fast and ultra-fast chargers. Its products are compatible with all major EV brands, and its charging stations are integrated with leading EV charging networks. Allego N.V. (NYSE:ALLG) also offers a suite of services, including installation, maintenance, and billing. This comprehensive offering gives Allego a competitive advantage in the EV charging market.
On November 14, Allego N.V. (NYSE:ALLG) posted earnings for the third quarter of 2022. The company reported earnings per share of EUR 1.00 and generated a revenue of EUR 22.32 million for the quarter, up 105% year over year. As of November 18, Allego N.V. (NYSE:ALLG) is worth $949 million on the open market and is one the biggest EV charging companies in Europe.
6. Wallbox N.V. (NYSE:WBX)
Market Cap as of November 18: $966 Million
Wallbox N.V. (NYSE:WBX) is a leading Spanish provider of electric vehicle charging solutions. The company offers a range of products and services that make it easy for EV drivers to charge their vehicles at home, at work, and on the go. The company’s products are designed to work with all major EV brands, and its charging solutions are compatible with a variety of power sources, including AC and DC. Wallbox N.V. (NYSE:WBX) is headquartered in Barcelona, Spain, and its products are available in over 80 countries. On November 9, Wallbox N.V (NYSE:WBX) announced earnings for the fiscal third quarter of 2022. The company reported a revenue of EUR 44 million, up 140% year over year. For the fourth quarter of 2022, Wallbox N.V. (NYSE:WBX) expects to generate a revenue of EUR 52 million, which implies a year-over-year growth rate of 100%, and for full-year 2022 the company expects to report revenue of EUR 164 million, up 130% year over year. As of November 18, Wallbox N.V. (NYSE:WBX) has a market capitalization of $966 million and is ranked sixth among the biggest EV charging companies in Europe.
In addition to Wallbox N.V. (NYSE:WBX), other companies that have a prominent presence in North America’s EV charging market include ChargePoint Holdings, Inc. (NYSE:CHPT), Blink Charging Co. (NASDAQ:BLNK), and EVgo, Inc. (NASDAQ:EVGO).
Source: PTI
