1.3 Million EV Charging Units In 2020 Says Report

The technology for delivering electricity to electric vehicles will represent a $1.2 billion market in 2020, according to a report from Lux Research.

The report, titled “Charging Ahead: Finding Reality in the Electric Vehicle Supply Equipment Market,” says important scope of this market will be due largely to government policy and investment driving automotive companies toward plug-in vehicles.

Lux Research developed a forecast as part of this study using vehicle sales to project the global electric-vehicle supply equipment (EVSE) market.

According to the report, 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 at least $1.15 billion in 2020.

“Success for EVSE will ultimately follow the success of electric vehicles,” said Kevin See, Lux research senior analyst and the lead author of the report. “It is critical for those invested in charging stations to find the applications where there’s substantial growth.”

Among the study’s findings, Lux Research expects Europe to lead the global market with 2020 seeing annual sales of 480,000 units. China, it says, will forge ahead after a slow start, growing to 277,000 annual unit sales of charging stations by 2020.

Another finding is that China consumes the most energy. In 2020, plug-in vehicles in China will consume 1.9 TWh of electricity, or 23 percent of all energy consumed by plug-ins, the largest by any individual country, translating into $155 million in revenue for Chinese utilities.

Finally, the report states that a web of partnerships is key to anyone’s success. 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.