BOULDER, CO - The automotive industry will reach a turning point during 2010, as it begins the gradual transition away from the internal combustion engine and towards electrification. According to a new report from Pike Research, this evolution will require the ongoing buildout of electric vehicle (EV) charging infrastructure, ranging from residential equipment to public, private and workplace charging stations. The cleantech market intelligence firm forecasts that a total of 4.7 million such charge points will be installed worldwide during the period from 2010 to 2015.
“The success of hybrid vehicles in the 2000s gave drivers a taste for propulsion by electric power,” says Senior Analyst John Gartner, “and governments around the world are now highly focused on creating the charging infrastructure to support the arrival of EVs in significant numbers.” Gartner expects that by 2015, more than 3.1 million EVs, including plug-in hybrids and all-electric vehicles, will be sold worldwide.
Pike Research’s analysis indicates that the market for EV charging equipment is likely to become increasingly crowded by the end of 2011. Since initiating its coverage of the EV charging equipment sector in 2009, Pike Research has downgraded its forecast slightly to the current level of 4.7 million charge points installed between 2010 and 2015, from its original estimate of 5 million charging stations during that period. Gartner comments that this is due to a somewhat slower projected rate of sales for EVs, in addition to the continued lack of a clear business model for public charging stations.
“The economics of selling a few kilowatt hours per charge are very challenging, and as such we anticipate that public charging station deployments will be driven mainly by government initiatives over the next several years.” Pike Research’s study, “Electric Vehicle Charging Equipment”, analyzes technology and business issues related to the buildout of EV charging infrastructure in global markets. It examines the market for residential, public, private, and workplace charging stations as well as reviewing the key operational and technological impacts of plug-in hybrid and battery electric vehicles on the grid. Analysis includes an in-depth assessment of market drivers and barriers, along with profiles of charging infrastructure vendors and utilities. Detailed forecasts for EV charging equipment are included through 2015.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends.
More Than 4.7 Million Electric Vehicle Charge Points to Be Installed by 2015
May 26, 2010