The projections in the electric vehicle study by Zpryme's EV Insights Practice and sponsored by Airbiquity (download ‘The Electric Vehicle Study’ for free www.zpryme.com) show that the charging service market value is expected to grow at faster rate than the charging station market value, but the charging station market is expected to be almost eight times larger than the service industry by 2016.
With such high anticipation for the growing U.S. EV market, developing and deploying charging stations has quickly become an extremely competitive race. Both large companies and start-ups are vying for market share, including Coulomb Technologies, ClipperCreek, ECOtality, ABB, GE, Siemens, Leviton, AeroVironment and Pep Stations.
Some key market value projections (2011 - 2016):
Electric vehicle sales:
Annual EV/PHEV unit sales are projected grow by 36.2% annually from 2011 to 2016, from 43,400 to 203,200.
The total EV/PHEV stock are projected to grow from 104,200 in 2011 to 730,700 in 2016.
Charging Stations:
Home (level II) charging station unit sales are projected to grow by 37.7% annually from 2011 to 2016, from 25,400 to 125,900.
Home (level II) charging station sales will grow from $239.6 million to $1.07 billion during this time period. Home charging stations are projected to account for 32.1% of the market value in 2011 and 27.0% in 2016.
Public (level II) charging station unit sales are projected to grow by 43.1% annually from 2011 to 2016, from 13,600 to 81,300.
Public (level II) charging station sales will grow from $282.0 million to $1.60 billion during this time period. Level II charging stations are projected to account for 37.8% of the market value in 2011 and 40.7% in 2016.
Fast (level III) charging station sales will grow from $193.4 million to $1.15 billion during this time period. Level III charging stations are projected to account for 25.9% of the market in 2011 and 29.1% 2016. (see table 1 above)
Fast (level III) charging station unit sales are projected to grow by 44.2% annually from 2011 to 2016, from 2,200 to 13,500.
EV Charging Service Users:
Annual new charging service users are projected to grow by 40.4% annually from 2011 to 2016, from 27,600 to 150,400.
The cumulative total number of charging service users is projected to grow from 39,800 in 2011 to 574,900 million in 2016.
