Spain Electric Vehicle (EV) Charging Equipment Market

Spain Electric Vehicle (EV) Charging Equipment Market Analysis

The Spain Electric Vehicle Charging Equipment Market size is estimated at 30.65 thousand units in 2025, and is expected to reach 75.34 thousand units by 2030, at a CAGR of 19.71% during the forecast period (2025-2030).

• Over the medium term, factors such as the growing adoption of electric vehicles and the efforts to enhance EV charging infrastructure supported by government initiatives are expected to drive the electric vehicle charging equipment market during the forecast period.
• On the other hand, high installation costs associated with setting up charging stations and maintenance costs are expected to hinder the electric vehicle charging equipment market's growth during the forecast period.
• Nevertheless, leveraging renewable energy resources to support EV charging infrastructures and the expansion of EV fast charging networks will likely hold significant opportunities for the Spain electric vehicle charging equipment market.

Spain Electric Vehicle (EV) Charging Equipment Market Trends

Public Charging Segment to Dominate the Market

• Several factors are driving significant growth in the public charging segment during the forecast period. For instance, as environmental concerns and government incentives promote clean transportation, the adoption of EVs is rising across the country. This surge is leading to a notable expansion of public charging infrastructure and related equipment. Additionally, advancements in charging technology, including fast-charging capabilities and enhanced efficiency, are set to bolster this infrastructure's growth.
• As per the International Energy Agency (IEA), Spain had approximately 25,600 publicly available charging points (both slow and fast) in 2023, marking a remarkable over 100% increase from about 12,200 in 2022. The trend of steadily increasing publicly available charging infrastructures is anticipated to persist. Furthermore, to align with the European Union's AFIR objectives by 2030, Spain will require over 183,900 EV chargers, further fueling the country's EV charging equipment market.
• Collaborations among governments, private entities, and international organizations are pivotal in hastening the development of EV charging networks in Spain. These partnerships enable investments in charging infrastructure projects, such as installing charging stations on highways and urban areas, thereby enhancing the feasibility and convenience of electric vehicle ownership for consumers.
• For instance, in May 2024, ACCIONA Energía inked deals with various retailers, including restaurants, shopping malls, and hotels, to roll out 1,000 new public charging points across Spain. Set to be operational by 2025, this network will integrate into ACCIONA's existing infrastructure, boosting its tally to over 4,000 charging points on urban and interurban roads.
• ACCIONA projects that these new charging points will deliver over 40GWh of 100% renewable energy annually, curbing emissions by over 14,000 tCO2. The charging points, with capacities ranging from 22kW to 180kW, will feature over 400 super-fast chargers (100-120 kW), capable of charging a car's battery from 20% to 80% in just 25 minutes. Strategically placed in high-traffic areas near amenities like restaurants and shopping centers, ACCIONA aims to enhance customer convenience. The company's ambitious goal is to establish a public access network of 25,000 points by 2030, leveraging both its own and third-party managed networks.
• Fastned, a leading European fast-charging company, made its debut in Spain in January 2024, signing a contract for its inaugural fast-charging station. The first station, featuring eight 400kW chargers for multiple EV drivers, is situated in Casarrubuelos on the bustling A42 motorway linking Madrid and Toledo. Fastned has plans for six additional stations across Spain.
• While most EV chargers in Spain are concentrated in major city centers, there's a pressing need for a robust fast-charging network on city outskirts and motorways. Fastned is committed to facilitating this transition and aiding Spain in achieving its decarbonization goals. Such initiatives are poised to drive substantial deployments of EV charging equipment nationwide.
• In December 2023, BP Pulse and Iberdrola launched a joint venture focused on fast and ultra-fast electric vehicle charging. After securing regulatory approval, the venture commenced operations with over 300 charging points, targeting 5,000 points across Spain and Portugal by 2025. Backed by a EUR 1 billion investment, the goal is to dominate the Iberian Peninsula's charging network with 11,700 points by 2030.
• This high-speed public charging initiative addresses the pressing demand for reliable charging infrastructure, a current barrier to widespread electric vehicle adoption. All grid charging points will utilize 100% renewable energy. The venture will capitalize on its partners' strengths, integrating Iberdrola's mobility services with BP's expansive network of 1,300 service stations, many of which are prime locations for fast and ultra-fast charging installations.
• In summary, Spain's public charging segment is on the brink of substantial growth, driven by infrastructure expansion, technological advancements, and a shift in consumer preferences towards sustainable transportation.

Increasing Adoption of Electric Vehicles To Drive the Market

• Spain's surging adoption of electric vehicles (EVs) is set to boost the demand for EV charging equipment in the country. Recent data from the International Energy Agency (IEA) highlights this trend: battery electric vehicle (BEV) sales in Spain jumped to approximately 57,000 units in 2023, marking a 72% increase from 33,000 units in 2022. Additionally, sales of plug-in electric vehicles (PEVs) reached around 65,000 units in 2023. This uptick in EV adoption underscores the growing need for a robust EV charging infrastructure, positioning Spain as a lucrative market for EV charging equipment.
• In 2023, BEV stocks in Spain hit roughly 160,000 units, a notable 66% rise from 96,000 units in 2022. Meanwhile, PEV stocks reached about 200,000 units, reflecting a 50% increase from the previous year. Despite this growth, Spain's total vehicle stock falls short of the government's ambitious target of 5.5 million electric vehicles by 2030. Given this gap, an expansion of the EV charging network is on the horizon.
• Spain has become a magnet for EV players in recent years. In a notable move, Ebro-EV Motors and Chery Automobile inked a deal in April 2024 to co-develop new electric vehicles in Barcelona. This partnership marks Chery as the inaugural Chinese automaker to manufacture in Europe, utilizing Ebro's facilities at a former Nissan plant.
• In another significant development, United States automaker Ford revealed in May 2024 its plans to roll out a new partially electric car from its Valencia plant, starting in 2027. This follows Ford's March announcement of considering a multi-energy passenger car for the same facility, with an ambitious target of 300,000 units annually, as confirmed by Spain's Industry Ministry.
• The rising adoption of EVs is luring numerous charging players to Spain. For instance, Monta, a Danish startup specializing in EV charging, made headlines in November 2023 with its entry into the Spanish market. Recently honored as a B-Corp and crowned 'Startup of the Year 2023' at the Nordic Startup Awards, Monta is setting up its European hub in Barcelona, aiming to bolster Spain's electric charging network and champion a sustainable future.
• Given these dynamics, Spain's EV charging equipment market is poised for growth in the coming years.

Spain Electric Vehicle (EV) Charging Equipment Industry Overview

The Spain electric vehicle charging equipment market is semi-fragmented. Some of the key players in the market (not in any particular order) include ABB Ltd, Kempower Charging Spain S.L.U., ChargePoint Inc., Wallbox Chargers, S.L. and Delta Electronics Inc.

Spain Electric Vehicle (EV) Charging Equipment Market Leaders

Spain Electric Vehicle (EV) Charging Equipment Market News

• March 2024: Iberdrola has commenced construction on Spain's most powerful charging station. This facility will feature 47 charging points, collectively boasting a power output of 5.6 MW. Additionally, a solar community will enable 92 families to access self-consumption without any installation or investment on their part. Among the charging points, 15 ultra-fast ones are integral to the collaboration between Iberdrola and bp pulse, aimed at advancing high-power sustainable mobility. All charging points will draw energy exclusively from renewable sources, certified by a Guarantee of Origin (GoO). The project is funded by the European Union's NextGenerationEU, as part of the Recovery, Transformation, and Resilience Plan.
• March 2024: In a bid to enhance electric mobility throughout Spain, EAVE, an expert in solar energy integration and electric vehicle (EV) charging systems, has appointed EVBox as its main supplier. Together, they plan to roll out 10,000 AC and DC charging stations across the country. This partnership harnesses EAVE's proficiency in solar panel integration and EVBox's cutting-edge EV charging technology. It's a significant leap towards EAVE's goal of creating a holistic and sustainable charging infrastructure in Spain by 2025.