Eleven Million EV Charging Stations Will be Installed Worldwide by 2020

October 11, 2012

A major uptick in the market for plug-in electric vehicles (PEV) is feeding the growth of electric vehicle (EV) charging stations, which Pike Research projects will reach 11 million over the next eight years.

Walgreens EV charging station image More than 135,000 PEVs will be sold globally in 2012, and growth is expected to continue at a steady pace, and the electric vehicle service equipment (EVSE) market will expand steadily as well, according to a new report from Pike Research, a part of Navigant’s Energy Practice.

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,” said 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.

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Comments (1) - Post a Comment

I have seen one of these electric car charging stations before! I'm pretty sure that by the way electric car sales are escalating, there definitely will be many more of these. Thank you for sharing!

dkrycek at 2:10pm EST - November 15, 2012

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