After covering the hottest robotics start-ups in Europe in 2022, we are now shifting our focus to the e-mobility sector and have compiled a list of the top electric vehicle (EV) charging companies in Europe for 2023.
The European EV charging market was valued at around 4.15 billion USD in 2022, according to Next Move Strategy Consulting. It is projected to grow to 5.17 billion USD in 2023 and grow at a CAGR of 29.49% from 2022 to 2030.
Statzon made a list for the ten hottest EV charging companies in Europe for 2023. These companies have established a strong presence in the European EV charging industry and are making notable strides in this growing market.
Kempower is headquartered in Lahti, Finland and was founded in 2017. They design, manufacture, and sell direct current (DC) fast charging devices, solutions, and services for EVs. Kempower has invested $41.2 million to build a new assembly plant in North Carolina, creating 300 jobs in 2023. One of Finland's top business media, Kauppalehti, has awarded Kempower the Finnish Growth Company of the Year 2022. This award is given each year to Finland's fastest-growing businesses.
Allego, headquartered in the Netherlands, was founded in 2013 and became part of Meridiam in 2018, which led to the rapid expansion of its European network. In March 2022, Allego became a publicly listed company on the New York Stock Exchange. It is also building an international charging network with more than 40,000 operational charge points throughout Europe. In the first half of 2022, overall revenue increased by 148.3% to €50.7 million, compared to the same period in 2021. Revenue from charging has nearly tripled, while revenue from services has more than doubled.
BP p.l.c. (England)
BP, based in England, is a multinational oil and gas company that operates 1,200 service stations in the UK. In 2018, it acquired Chargemaster, the UK's largest EV charging network. Since then, it has been operating the UK's largest EV charging network through its subsidiary BP Chargemaster. By 2030, BP p.l.c. aims to install more than 100,000 EV charge points worldwide, with around 90% of them being rapid or ultra-fast.
Efacec, headquartered in Portugal, was founded in 1948 and is a major player in the European EV charging station market. AC and DC chargers, fast chargers, and ultra-quick chargers are among the products available from the company. The Efacec group is one of the largest manufacturers in the fast-charging infrastructure industry for electric vehicles. Efacec's Electric Mobility unit triples its production capacity of fast and ultra-quick charging solutions and grows by 100%.
EVBox is an electric car supply equipment firm situated in Amsterdam, the Netherlands, that was founded in 2010. EVBox manufactures and distributes electric vehicle (EV) charging stations and charging management software. EVBox aims to install 300,000 charging stations for electric vehicles across Denmark by 2030.
Fastned, based in the Netherlands, operates a network of over 200 EV charging stations in the Netherlands, Germany, the United Kingdom, Belgium, and Switzerland. Fastned has launched its latest ultra-rapid charging hub in the UK. The company has almost tripled revenue while receiving awards in the UK, the Netherlands, and France for EV charging networks during 4th quarter of 2022
Ionity is a high-power charging station network for EVs that enables long-distance travel across Europe. It was founded as a joint venture by the BMW Group, Mercedes-Benz Group, Ford Motor Company, and Volkswagen Group. In November 2020, Hyundai Motor Group became the fifth shareholder of Ionity. The network operates 336 charging stations with just over 1000 stalls, competing with Tesla's supercharger network, which has 6000 stalls and 600 stations in Europe. Ionity applied for Europ-e funding from the European Union and was awarded £39.1m to help develop its network, across 13 EU Member States. Ionity plans to double the number of its high-power chargers in Sweden.
Wallbox is a Spanish company that was established in Barcelona in 2015. The company won first place in the South Summit, a European startup competition in 2017. In May 2018, Wallbox took third place in the Startup World Cup. Currently, Wallbox's shares are listed on the New York Stock Exchange. The company is the first EV charging company to run an advertisement during the Super Bowl LVI in 2022. Revenue of €175-205 million was predicted for the fiscal year 2022, indicating an approximate annual growth rate of 145-190%. The company continues to show impressive sales growth, with sales forecast to more than double in FY2023.
WEbasto SE (Germany)
Webasto SE is an established German company based in Stockdorf that produces sunroofs, electric-car chargers, and air-conditioning systems. The company has a rich history of providing innovative solutions for the automotive industry. Webasto SE offers a comprehensive range of EV charging stations that includes slow, semi-fast, and fast chargers. The company also provides a variety of services such as installation, maintenance, and repair. Webasto SE is one of the largest EV charging companies in Europe by revenue.
Schneider Electric (France)
Schneider Electric SE is a French multinational company that focuses on digital automation and energy management. The company is publicly traded on the Euronext Exchange and is included in the Fortune Global 500. Schneider Electric has a strong presence in the EV charging market with its EVlink product line.
ABB Ltd. is a global Swedish-Swiss enterprise headquartered in Zürich, Switzerland. It has been a global Fortune 500 company for 24 years and is ranked in the Fortune Global 500. The company's ABB's acquisition of GE Industrial Solutions in June 2018 further strengthened ABB’s position as the #2 global player in electrification. Electrification is ABB's most extensive and profitable business segment. This includes the infrastructure for EV charging stations. ABB E-mobility has sold more than one million EV chargers worldwide across its AC and DC charging portfolio.
Electrifying the Future: A Comprehensive Handbook on the EV Market
Some highlights from the handbook: