More than 11 Million EV Charging Stations Will be Installed Worldwide by 2020, Forecasts Pike Resear
More than 11 Million EV Charging Stations Will be Installed Worldwide by 2020, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- The past year has seen a major uptick in deployments of electric vehicle supply equipment (EVSE). This acceleration is a direct result of developments in the market for plug-in electric vehicles (PEVs): More than 135,000 PEVs will be sold globally in 2012, and growth is expected to continue at a steady pace. According to a new report from Pike Research, a part of Navigant's Energy Practice, the EVSE market will expand steadily, as well. Unit sales of EVSE will rise from under 200,000 in 2012 to almost 2.4 million in 2020. By 2020, the study concludes, 11.4 million EV charging stations will be in operation worldwide.
"Public charging stations have been heavily dependent on government funding," says senior research analyst Lisa Jerram. "The industry is now trying to devise successful business models for deploying stations in public locations—an effort that will become increasingly urgent as government funding winds down."
A key factor in the split between residential and commercial EVSE sales, Jerram adds, is the percentage of PEV owners who have access to home charging. The report forecasts that the market for commercial charging equipment will grow at a faster rate than that for residential charging equipment. According to the report, 2013 will be a critical year since the PEV market will be transitioning from early adopters in regions such as North America, where consumers are more likely to have a secured parking spot in which to install a charger, to a broader base of consumers living in multi-family dwellings, leading to greater growth in the sales of commercial EVSE than in residential units.
The report, "Electric Vehicle Charging Equipment", examines the state of the global EVSE market today, and provides forecasts through 2020. Including market analysis and forecasts for residential, workplace, public, and private EVSE, the report covers the development of fast charging over the past year and forecasts direct-current charging sales. It also forecasts the growth of wireless charging equipment, set to become commercially available in the 2013-2015 timeframe. EVSE forecasts cover the major regions of the world and include breakouts for key adopter countries including the United States, Canada, Germany, France, the United Kingdom, Japan, China, Korea, and Israel. The report also includes profiles of more than 40 industry players, including EVSE manufacturers and service providers, their suppliers, vehicle OEMs, and utilities. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Electric Vehicle Charging Equipment," is a summary and reflects Pike Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
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