Study: EV Charging Stations to Reach 7.7M Worldwide by 2017

BOULDER, CO – A new report from Pike Research forecasts that by 2017, there will be more than 1.5 million electric vehicle charging locations in the United States, with a total of 7.7 million locations worldwide.  

The research firm projected that increasing demand for charge points will be driven in part by a rapid decline in electric vehicle supply equipment (EVSE) prices, which will require manufacturers to adapt their business models as volumes continue to increase.

“Basic electric vehicle supply equipment will quickly become a commodity,” said senior analyst John Gartner. “EVSE prices will fall by 37 percent through 2017, as costs are driven lower by competition from large electronics companies as well as volume production. In the face of this trend, manufacturers will integrate their equipment with external storage units, home energy management systems, and smart grid equipment to add value and increase their revenue.”

Gartner added that the EV charging services business model is growing as network operators look to provide EVSE location and status information available on demand. He expects that these companies will integrate billing and aggregate power consumption to create new services that will help stabilize grid operations and create new revenue streams in the process.

Pike Research’s analysis further indicates that emerging categories such as DC and wireless charging equipment will become an increasingly important part of the EV charging station market during the next six years. The firm forecasts that DC charging station deployments will reach 115,000 units and wireless charging equipment will come close to 150,000 units installed by 2017.

For a summary of the report, titled “Electric Vehicle Charging Equipment,” click here.