More than 5 Million Electric Vehicle Charging Stations to be Installed Worldwide by 2015, Says Pike Research
BOULDER, Colo.--As plug-in hybrid and other electric vehicles begin shipping in volume starting in 2010, a robust new infrastructure will be required for charging access at home, at work, and around town. By 2015, the global installed base of charge points will surpass 5 million with cumulative equipment revenues of $6.5 billion, according to a new report from Pike Research.
“While electric vehicles will be primarily charged at home, a strong funding push by governments will mean that more than half of all charge points will be public charging stations by 2015,” says industry analyst John Gartner. “Retailers will also install public access stations primarily as a marketing tool, and many companies will also offer workplace charging stations for their employees.”
Pike Research forecasts that China will be the world leader in charging stations, representing nearly half the total market, due to a strong government mandate to encourage adoption of electric vehicles. The United States will be the second-largest market with more than one million charge points installed by 2015. Other hotbeds for EV charging infrastructure will include Israel and Denmark.
The added demand for electricity will have little overall impact on grid reliability, but could diminish performance and accelerate capacity upgrades in neighborhoods with the highest EV concentrations, including faster utility adoption of smart grid technologies.
Pike Research’s report, “Electric Vehicles on the Grid”, examines the many open questions surrounding business models and technology issues for electric vehicle charging infrastructure. It analyzes and forecasts the market for residential, public, private, and workplace charging stations through 2015 as well as examining impacts of EVs on grid infrastructure. The report includes analysis of market drivers and barriers, along with profiles of key industry players. 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 Renewable Energy, Clean Transportation, Clean Industry, Green Consumers, and Environmental Management sectors. For more information, visit www.pikeresearch.com or call +1.303.997.7609.