Global Electric Vehicle Infrastructure Development to Soar

Talk about an electric market: A new report from Navigant Research that analyzes the global market for plug-in electric vehicle (PEV) charging equipment sales says that the PEV market is entering a new phase thanks to battery cost declines, making way for longer-range PEVs and a wider range of vehicle body types.

This shift is driving an uptick in electric vehicle (EV) charging investment by major stakeholders, and creating opportunities for specific charging technologies such as DC fast chargers and smart, grid-integrated chargers. Click to tweet: According the firm’s new report, more than $80 billion is expected to be spent on global EV infrastructure development by the end of 2025, leading to the development of nearly 230 GW of charging capacity.

“Rising PEV penetration across multiple vehicle types and into a wider variety of environments and customer segments is creating a lot of room for innovative business models and technologies,” says Scott Shepard, senior research analyst with Navigant Research. “The market is currently trending toward the development of publicly available ultra-fast solutions, but there is still much ground to be gained in private network development for fleets, apartments, and workplaces.”

According to the report, stakeholders with the ability to fund large-scale deployments—such as governments, utilities, and automakers—will continue to play an outsized role in the growth of EV charging installations during the next 3-5 years. After that period, the market is expected to reach a more truly demand-driven status, as the growing PEV population drives interest in a range of charging options.

An Executive Summary of the report is available for free download on the Navigant Research website.

Category: General Update, Green