by market I mean in a broad sense - Europe has a bigger economy than the US, more people, greater GDP etc etc. The US does however have higher per capita disposable income and a history of gaming, so the gaming market is larger in US vs Europe. although the last figures I saw showed Euro spending on gaming was catching US spending fast.
everyone has cap issues at some point, however being forced into LWB with only 22 other players is much more of an issue than being forced into LWB with 220 other players, and this is what happens early evening euro time. ie when most people want to log on.
if the markets arent vastly different in size why arent there more euro-AH players? simple, most of the US players I know saw AH on TV ads at some point. most of the euro players found AH through word of mouth or ran into to on the interweb. no marketing. I know a few people that could launch AH in europe but I very much doubt HTC would consider paying for it at this point.
if you do find AH somehow, log in and see one arena with 160 players in it which you cant get into, and another which you can but is a fightless wasteland with 22 players, you're missing out on the bulk of what makes this game fun. no great incentive to stump up for a subscription ...