by Brianna Crandall — June 29, 2015—Two recent reports from Navigant Research analyze markets relating to plug-in electric vehicles (PEVs) and charging equipment, which are growing in popularity for use by companies and facilities of all types, whether for their own fleets or for customers or building tenants.
Electric Vehicle Charging Services: Level 1, Level 2, DC Fast Charging, and Wireless EVSE for Residential and Commercial Car Charging and Commercial Charging Services
This report analyzes the global market for plug-in electric vehicle (PEV) charging equipment sales and charging services, including global market forecasts for residential and commercial charging system unit sales and revenue from charging services through 2023. According to the report, worldwide revenue from electric vehicle charging services is expected to total $11.3 billion from 2014 to 2023.
While growth in the residential segment of the PEV charging market tends to grow alongside PEV sales, the commercial segment depends more on workable business models and, in some regions, government policy. These differences aside, revenue in both segments is expected to increase in the coming years as the industry for electric vehicle supply equipment (EVSE) continues to evolve, according to the report.
“The residential charging market is entering a phase where chargers are simply a commodity, with a focus on bringing down the price,” says Lisa Jerram, principal research analyst with Navigant Research. “Meanwhile, the commercial charging market is in a state of flux, experimenting with different business models, including free charging to draw in customers, fees for usage, and the use of advertising, hoping to find the most viable options for long-term growth.”
A key barrier preventing further growth in the commercial charging market is a lack of interoperability, from the inability of stations to connect with each other across multiple networks to the challenge of paying for network access, according to the report. Though the EVSE industry has made efforts to resolve interoperability issues by adopting open standards, the issue remains important, as it allows equipment to be centrally managed regardless of hardware and charging station information to be aggregated and shared with drivers regardless of software and systems.
The report, Electric Vehicle Charging Services, available for purchase from the Navigant Research Web site, analyzes the global market for PEV charging equipment sales and charging services. The report covers the residential and commercial charging market segments and analyzes the potential uptake of alternating current (AC), direct current (DC), and wireless electric vehicle charging equipment.
Global market forecasts for residential and commercial EVSE unit sales and revenue, broken out by region, charger type, and segment (residential, workplace, public, and private), extend through 2023. Forecasts of revenue from charging services and electricity demand are also included. The report also examines the different regional drivers and business models related to PEV charging and the key industry players within the competitive landscape. An Executive Summary of the report is available for free download from the Navigant Web site.
Electric Vehicle Geographic Forecasts: Plug-In Electric Vehicle Sales Forecasts for North America by State/Province, Metropolitan Area, City, and Selected Utility Service Territory
This report analyzes the North American market for light duty plug-in electric vehicles (PEVs), including detailed geographic forecasts of PEV sales by U.S. state, metropolitan statistical area (MSA), Canadian province, Canadian city, and selected U.S. utility service area. According to the report, North American PEV sales are expected to exceed 1.1 million annually by 2024.
With more than 133,000 PEVs sold in 2014, North America is currently the world’s strongest market for these vehicles. While regional sales are concentrated in California, where both state incentives and a mandatory Zero Emissions Vehicle (ZEV) Program drive PEV penetration, the market is expected to continue to grow in other states and Canada.
“Automaker adoption of PEV technologies as adaptations for existing model lines is growing significantly, and these technologies are being placed into larger vehicle segments such as sport utility vehicles (SUVs), trucks, and minivans,” says Scott Shepard, research analyst with Navigant Research. “Similarly, the introduction of next-generation, fully electric vehicles with ranges near or over 200 miles and price points below $40,000 is expected to drastically increase mass-market PEV acceptance as a pragmatic transportation option.”
While PEVs today represent a marginal increase in load for utilities, according to the report, PEV concentration in metropolitan areas is expected to push utilities to develop strategies for load mitigation in concert with regulatory authorities. Utilities serving these metro areas, particularly in California, have been at the forefront of developing advanced demand-side management programs for residential PEV charging and vehicle-grid integration, and those in emerging North American PEV markets expected to follow suit, creating new opportunities for energy aggregators and electric vehicle supply equipment (EVSE) service providers.
The report, Electric Vehicle Geographic Forecasts, available for purchase from the Navigant Research Web site, provides data and forecasts for LD PEV sales in North America, including U.S. states, MSAs, and utility service territories and Canadian provinces and cities. The study estimates the number of vehicles that are expected to be in use in specific geographic locations and assesses the potential impacts of anticipated PEV penetration in the most active PEV markets.
Market forecasts for LD PEV sales and vehicles in use, segmented by scenario and geographic area, extend through 2024. The study also provides analysis of Navigant Research’s Electric Vehicle (EV) Consumer Survey, which was used to develop the PEV demographic profile. An Executive Summary of the report is available for free download on the Navigant Web site.
