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.