A new report from Navigant
Research provides an overview of the current state of the global
electric vehicle (EV) charging industry, with market forecasts for
charger sales, installation, services, and energy consumption, through
2030.
Alongside a growing plug-in electric vehicle (PEV) market, the EV
charging industry is expected to mature rapidly and become increasingly
competitive. Investments and acquisitions from major energy companies
will drive a surge in public charger deployments and the
commercialization of the next wave of chargers that can provide smarter,
faster, and more convenient charging services. Click
to tweet: According to a new report from @NavigantRSRCH,
the global market for electric vehicle equipment sales and installation
is expected to grow from over $13 billion in 2019 to more than $63
billion by 2030.
“The PEV market is growing quickly, fueling a rapid population increase
that is expected to require significant investments in charging
infrastructure,” says Scott Shepard, senior research analyst with
Navigant Research. “By 2030, the global market for charging light,
medium, and heavy duty PEVs is expected to reach more than 12 million
units, growing from 1.4 million in 2019.”
According to the report, much of the expected market growth is
anticipated to occur in the latter half of the 2020s, when light duty
PEVs hit an inflection point, driven by the confluence of declining
battery prices and innovations in charging technologies. This confluence
is expected to be spurred by increasing government scrutiny of
transportation greenhouse gas emissions, which is likely to be realized
as bans on conventional vehicles in many markets between 2030 and 2040.
The report, EV
Charging Equipment Market Overview, provides an overview of the
current state of the global EV charging industry. The study covers
global EV charging technologies, the market drivers and challenges, the
competitive landscape, and the extent the market is likely to grow over
the next decade given the momentum of global PEV markets. Global market
forecasts for charger sales, installation, services, and energy
consumption extend through 2030. The report also assesses the key
emerging market and technology trends. An Executive Summary of the
report is available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’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
clean, intelligent, mobile, and distributed energy. Additional
information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, EV Charging Equipment Market Overview, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.
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