The market for charging stations for electric vehicles

Meanwhile, and somewhat in contradiction to our previous post, research released by Lux Research recently indicates that the market for delivering electricity to Electric Vehicles will rise to be a $1.2 billion market in 2020.

Lux Research developed a forecast using vehicle sales to project the global electric-vehicle supply equipment (EVSE) market. According to a press release on the research published on Parking-Net.com, despite slow adoption of plug-in vehicles, the charging station market will grow in unit sales from around 120,000 in 2012 to 1.3 million units in 2020, rising from $140 million in 2012 to $1.15 billion in 2020, a CAGR of 30%.

The research paper, entitled ‘Charging Ahead: Finding Reality in the Electric Vehicle Supply Equipment Market”, also lists a number of other key findings on the Electric Vehicle equipment market:

  • Europe is the leader. Europe will lead the global market with 2020 annual sales of 480,000 units. China forges ahead after a slow start, growing to 277,000 annual unit sales of charging stations by 2020.
  • China consumes the most energy. In 2020, plug-in vehicles in China will consume 1.9 TWh of electricity, or 23% of all energy consumed by plug-ins, the largest by any individual country, translating into $155 million in revenue for Chinese utilities.
  • Web of partnerships is key. Auto OEMs such as Ford, Daimler, GM, BMW, and Nissan form the core of charging infrastructure partnerships, with complex inter-connections with emerging companies – like BMW’s recent investment in Coulomb Technologies – and utilities.

For more information, the press release can be viewed on the Parking-Net.com site here, or the full report on the Lux Research site here

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