EV Supply Equipment Market To Grow Rapidly By 2020 Says Pike Research
A humbling reality about the electric vehicle (EV) segment is that it remains a sliver of the greater auto market even though EVs like the Volt, Leaf and Prius Plug-in continue to impress with positive monthly sales.
Despite the fact EVs currently remain a niche in the car world, Pike Research expects the electric vehicle supply equipment (EVSE) market to grow from a little less than 200,000 units sold in 2012 to nearly 2.4 million by 2020.
This forecast seems to ideally mirror another of Pike’s predictions that says worldwide EV sales will reach 3.8 million annually by 2020.
Pike also says the EVSE market is entering a new phase where it will be less dependent on government-funded deployments, meaning the EVSE companies will have to present an attractive return on investment for potential EVSE operators. The research firm recently evaluated 14 charging equipment companies that is says are positioned to capitalize on what should be a challenging but profitable market.
EVSE makers DBT and ChargePoint are poised as market leaders because of their feature-rich product offerings, current market share, and geographic reach, according to the firm.
Pike ranks the following companies as the top 10 contenders over the next seven years:
4. Schneider Electric
5. General Electric