France Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029

France Electric Vehicle Charging Stations Market - Forecasts from 2024 to 2029

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% (average) (Source: IEA).

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 Dépôts, 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 République. As Software République's technology partner, IoTecha leverages its IoT.ONTM platform to facilitate the quick launch of Software République's cutting-edge EV charging solution.

Moreover, in April 2023, Carrefour recently achieved the landmark of 100 charging stations for electric vehicles. This establishes it as the nation's first terminal network with over 850 charging outlets, half of which are high-power (up to 300 kW) outlets. Carrefour Énergies has installed electric charging stations in more than a hundred hypermarkets. Before the year ends, it hopes to increase the number of stores by another 200. The retailer is contributing to the introduction of electric mobility in France by establishing stations across the nation, both in urban and rural areas. This will allow the greatest number of people to have access to a new local service that is entirely powered by green energy.

Additionally, rent amounts that are based on income can help those in lower income brackets even more. According to the announcement, those who need it most should be able to lease a BEV for €100 per month as part of France's new social BEV leasing program. On the other hand, no other information about the car's eligibility or the length of the lease is available. In contrast, a long-term rental (37 months) of a brand-new Dacia Spring Essential in France starts at €120 per month after an initial €2,500 contribution and after accounting for the €5,000 purchase bonus. For a 36-month lease, the Peugeot e-208 starts at €150 per month.

Key Players:

Tesla, Inc. is a global automotive and clean energy enterprise that creates, produces, and markets electric cars, grid-scale and residential stationary battery energy storage systems, solar panels, solar shingles, and associated goods and services.
Schneider Electric SE is a multinational corporation based in France with expertise in energy management and digital automation. It combines energy technologies, real-time automation, software, and services to address buildings, homes, data centres, infrastructure, and industries.
ChargePoint creates a full line of networked AC and DC charging stations that are safe and dependable and provide drivers with an elegant, user-friendly charging experience. These stations are created with state-of-the-art hardware. It creates, builds, and sells the infrastructure for networked electric vehicle charging systems. With the help of its cloud services, customers can find, book, authenticate, and conduct transactions involving electric vehicle charging sessions.

Segmentation:

By Type of Electric Vehicle:

Battery Electric Vehicle (BEVs)
Plug-in Hybrid Electric Vehicle (PHEV)
By Application
Public
Private