Electric Vehicle Charging Station Installations to Reach 7.7 Million Worldwide by 2017, Driven by Rapidly Falling Prices, According to Pike Research

BOULDER, CO--August 24, 2011: Electric vehicles (EVs) are being delivered by the thousands each month. The power delivery infrastructure that enables vehicles to charge at home, at the workplace, and in public spaces is simultaneously being rolled out. By 2017, a new report from Pike Research forecasts that more than 1.5 million locations to charge vehicles will be available in the United States, with a total of 7.7 million locations worldwide. The cleantech market intelligence firm anticipates that increasing demand for charge points will be driven in part by a rapid decline in electric vehicle supply equipment (EVSE) prices, which will require manufacturers to adapt their business models as volumes continue to increase.

“Basic electric vehicle supply equipment will quickly become a commodity”

"Basic electric vehicle supply equipment will quickly become a commodity," says senior analyst John Gartner. "EVSE prices will fall by 37% through 2017 as costs are driven lower by competition from large electronics companies as well as volume production. In the face of this trend, manufacturers will integrate their equipment with external storage units, home energy management systems, and smart grid equipment to add value and increase their revenue."

Gartner adds that the 'EV charging as a service' business model is growing as network operators look to provide EVSE location and status information available on demand. He expects that these companies will integrate billing and aggregate power consumption to create new services that will help to stabilize grid operations and create new revenue streams in the process.

Pike Research's analysis further indicates that emerging categories such as direct current (DC) and wireless charging equipment will become an increasingly important part of the EV charging station market during the next six years. The firm forecasts that DC charging stations deployments will reach 115,000 units and wireless charging equipment will come close to 150,000 units installed by 2017.

Pike Research's report, 'Electric Vehicle Charging Equipment', examines the growing global market for electric vehicle charging equipment and provides market analysis and forecasts for residential, workplace, public, and private charge points. The study also analyzes the key emerging sectors of direct current (DC) charging equipment and wireless EV charging stations. Key industry players are profiled and detailed charging equipment forecasts, segmented by world region and key countries, extend through 2017. An Executive Summary of the report is available for free download on the firm's website.

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 to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors.