Editor’s note: Every new electric vehicle means a little less reliance on crude oil or gasoline. Ideally, EVs will be recharged by wind or solar-generated power.
A new report from Navigant Research analyzes the global market for plug-in electric vehicle (PEV) charging equipment sales, providing global market forecasts, segmented by region, power level, technology type, end use, and networking capability, through 2026.
The report, Market Data: Electric Vehicle Charging Equipment, analyzes the global market for PEV charging equipment sales and installations.
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.
According to a 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 to 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.
The study covers the major drivers for the charging market by access type (home, private, and public) and use cases (workplace; multi-unit dwellings; destination parking; fleets of light, medium and heavy duty EVs), and the potential uptake of Level 1 and Level 2 AC, DC, wireless and networked EVSE.
Global market forecasts for charging equipment sales and installations, by port and by charger, and segmented by region, technology type, access type, and location type, extend through 2026.
An Executive Summary of the report is available for free download on the Navigant Research site.
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