Spain electric vehicle charger market is anticipated to grow at a CAGR of over 20% during the forecast period, 2019-2025. In 2019, the government of Spain announced a target of 100% Zero Emission Vehicle (ZEVs) by 2040. Government subsidies in order to motivate the electric vehicle market are one of the major factors for the growth of the market in the country. The country introduced first subsidies on electric vehicle in 2017 and in February 2019 the government launched the Spanish Alternative Mobility program as MOVES with a budget allocation of $50 million. The government offers a $6,000 subsidy on a purely electric vehicle when an IC engine vehicle of at least ten years old is neutralized. In addition, a subsidy up to $760 is offered to the electric motorcycles whereas subsidies up to $16,400 are available for the trucks and buses with alternative drive systems. Businesses and individuals can avail subsidies up to 30% and 40% respectively or over $110,000 for the development of charging infrastructure.
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Spain’s electric vehicle charger market is segmented on the basis of ownership, charger type, and connector type. Based on ownership, the market is segmented into public and private. Moreover, by charger type, the market is bifurcated into slow chargers and fast chargers. Fast chargers are expected to show a considerable growth rate during the forecast period. By connector type, the market is analyzed into AC connectors and DC connectors. AC connector market is further divided into Type 1, Type 2 and other chargers, whereas the DC connector market is further divided into CHAdeMO, Combined Charging System (CCS), Type 2 (Tesla) chargers.
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Spain Electric Vehicle Charger Market Segmentation
By Ownership
· Public
· Private
By Charger Type
· Slow Charger
· Fast Charger
By Connector
· AC Connectors
· Type 1
· Type 2
· Other (Domestic Socket)
DC Connectors
· CHAdeMO
· Combined Charging System (CCS)
· Type 2 (Tesla)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
