Research and Markets: Electric Vehicles Charging Stations - Market Analysis and Forecast to 2020 - Electric Vehicle Charging Station Market to Grow at Significant Rate in Coming Years
DUBLIN--January 23, 2012: Research and Markets has announced the addition of GlobalData's new report "Electric Vehicles Charging Stations - Market Analysis and Forecast to 2020" to their offering.
“Electric Vehicles Charging Stations - Market Analysis and Forecast to 2020”
The global market for electric vehicle (EV) charging stations is expected to grow at a significant Compound Annual Growth Rate (CAGR) of 155% during the period 2011-2020. The growth rate for the EV charging station market can be attributed to the increasing production of electric vehicles in order to reduce CO2 and greenhouse gases (GHG) from the transportation sector. Government support is expected to help the market witness mass deployments to sustain the increasing penetration of electric vehicles during this period.
The Need to Support the Electric Vehicle Adoption will Drive the Market for Electric Vehicle Charging Stations
The governments of individual countries have established targets for electric vehicle deployment for 2020. These targets will act as a driver promoting the charging station market across different countries. Electric vehicle adoption should increase when customers are confident that they can charge their vehicle at any given point and time.
Lack of Uniform Standard for Charging Stations will Hamper Market Prospects
Charging stations have developed along with changes in technology. Different standards are followed for the installation of charging stations across various regions globally. The Society of Automotive Engineering (SAE) standards are followed in North America and parts of the Asia-Pacific region. International Electro-technical Commission (IEC) standards are followed by the countries of the European Union (EU), and CHAdeMO standards for quick chargers in Japan. The electric vehicle manufacturers need to make provisions for different charging types as the charger standards are different. This would increase the cost production for auto manufacturers. It is difficult for a uniform standard to emerge owing to rivalry between SAE and CHAdeMo.
- Coulomb Technologies, Inc
- AeroVironment, Inc
- Better Place, Inc
- Eaton Corporation
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