Europe, besides China, is the global leader of electric vehicle (EV) market with significant growth in EV sales, driven by ambitious EU policies such as the European Green Deal and Fit for 55. These policies aim to increase the adoption of zero-emission vehicles, presenting substantial opportunities for developing robust charging infrastructure and supporting the transition to sustainable transport.
Over the past decade, the electric vehicle (EV) market has seen significant growth. According to GlobalData, annual sales in Europe have surged from 0.2 million units in 2018 to 1.5 million units in 2022. Looking ahead, this momentum is expected to continue, with projections indicating that annual EV sales in Europe will reach 16.3 million units by 2035. Battery electric passenger cars are at the forefront of this trend, with sales expected to climb from 1.4 million units in 2022 to 13.7 million units by 2035.
EV Annual Sales (Units) in Europe, 2018
EV Annual Sales (Units) in Europe, 2022
Expected EV Annual Sales (Units) in Europe, 2035
Battery Passenger EV Annual Sales (Units), 2022
Battery Passenger EV Annual Sales (Units), 2035
Incremental Growth in Battery Passenger EV Annual Sales (Units), 2022 v.s. 2035
This rapid expansion underscores the continent’s accelerating shift towards sustainable transportation solutions. Moreover, besides the contributing factor such as supportive government policies and the growing concerns about climate change, the increasing availability of EV charging facilities are particularly driving this upward trend in the EV market. Impressively, Europe is estimated to achieve the EV market size (including both battery electric passenger cars and commercial vehicles) of more than 885 billion in 2035.
Source: GlobalData
EV Market size in Europe, 2018
EV Market size in Europe, 2022
Expected EV market size in Europe, 2035
The swift expansion of the electric vehicle (EV) market has underscored the urgent need for a comprehensive and efficient charging infrastructure. As the number of EVs on the road continues to grow, the demand for a dependable and specialized EV charging infrastructure (EVCI) and solutions becomes ever more critical.
In particular, within North Europe, the Netherlands has seen remarkable growth in its EV charging infrastructure, becoming one of the leading countries in Europe for electric vehicle support. According to GlobalData, as of 2024, the country boasts over 54,000 new EV charging stations; moreover, the rapid expansion also boosts the market value, projected to grow from $386 million in 2023 to $1,380 million by 2028. More information about the EV landscape in the Netherlands can be found here.
Number of New EV Chargers in NL, 2024
Estimated Number of New EV chargers in NL, 2028
Incremental Growth in the Number of New EV Chargers in NL
They are essential for connecting charging stations to electric vehicles. They are designed to be flexible, durable, and capable of withstanding frequent use and various weather conditions. These features ensure safe and efficient power transfer, which is vital for the growing number of EVs. (More info on EVC.)
They are crucial for the infrastructure, running from distribution stations to the charging stations. These cables not only provide power but also facilitate communication between the stations, thanks to their innovative design that combines power supply and communication functions into a single cable.
This integration streamlines the installation process, reduces complexity, and lowers costs, ensuring that the setup of charging stations could be more efficient and less prone to errors. (More info on EVCS.)
The durability and reliability of EVC and EVCS cables, first of all, ensure long-term performance with minimal maintenance, reducing waste and the need for frequent replacements. This contributes to a more sustainable lifecycle for EV charging infrastructure.
Secondly, the eco-friendly manufacturing processes and materials used in EVC and EVCS cables significantly minimize their environmental impact. This aligns with broader sustainability goals and helps meet stringent environmental regulations.
In essence, Prysmian's EVC and EVCS cables support the transition to renewable energy sources, help achieve decarbonization targets, and foster a greener future by making electric vehicles a more viable alternative to traditional combustion engines.
