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EV Supply Equipment Sales to Hit Almost 2.4 Million Units in 2020

The global electric vehicle supply equipment market will increase from fewer than 200,000 units sold in 2012 to almost 2.4 million in 2020, according to a report from Pike Research.

Electric Vehicle Charging Equipment says the past 18 months have seen the plug-in EV transition into full commercialization, resulting in major growth in EV supply equipment.

In 2012, there will be almost 45,000 public charging stations installed globally and more than 135,000 plug-in EVs sold, the report says. By 2013 it forecasts more than 80 different models of plug-in EVs will be driven on roadways and at least as many models of charging equipment for residential and commercial customers will be available.

Although plug-in EV sales over the past year and a half have been lower than previously forecasted, the report says the market will continue to grow as the worldwide economy improves and battery prices drop.

The report predicts North American sales of EV supply equipment will grow almost tenfold, from about 66,000 units in 2012 to 626,000 units in 2020. Federally funded initiatives like the EV Project and ChargePoint America are driving this growth, it says. But as these projects wind down, sales will shift to non-publicly funded units, according to the report.

The US will be the largest market for EV supply equipment from 2012 to 2020, with six states comprising about 50 percent of sales, Pike Research says. California is the largest state market, followed by New York, Florida, Texas, Washington and Illinois.

Western European demand will drive more than 90 percent of Europe’s EV supply equipment sales. The report says that while Japan currently leads the Asia Pacific market, China will overtake Japan in terms of EV supply equipment sales in 2016.

Pike Research says the market for residential charging equipment will grow at a slower rate between 2013 and 2020 than commercial charging equipment because fewer homes have secured parking spots where EV drivers can install a charger. In regions where fewer plug-in EV owners have a residential charger, the ratio of commercial EV supply equipment to vehicles will be higher because EV owners will need to share infrastructure.

According to the report, by 2013, residential EV supply equipment sales will drop below 50 percent of the market. By 2020, residential EV supply equipment will only make up 35 percent of the global market.

Earlier this week, IBM announced it has partnered with ESB Networks to deploy a “smarter” EV charging system to manage about 1,000 public charging points across Ireland, allowing EV drivers to access, charge and pay using an identification card.

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