Electric Car Charger Market to Grow in Coming Decade

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With plug-in electric cars set to become ever more popular in the coming years, and installation of stand-alone charging stations now ramping up, it appears that the future of driving is electric. Along with that will come a rush for electric vehicle owners who need special chargers installed in their homes.

Market research firm Navigant Research today announced a new report that electric vehicle supply equipment (EVSE) unit sales at around 442,000 units this year. That number is expected to rise rapidly as electric vehicles become more popular. At least one city in Silicon Valley is already considering requiring homebuilders to invest in electric vehicle chargers for new homes.

“As the EVSE market has matured, some of its early challenges, such as a lack of compatibility of charging units with various PEV models, have dissipated,” said Lisa Jerram, senior research analyst at Navigant. “Today there is increasing choice for consumers, including chargers with a wide range of power ratings, home chargers that are competing on price, public chargers with more options for payment and access, the first commercially available wireless charger, and an increasing number of high-speed DC chargers.”

One of the largest hurdles to wide expansion now, according Jerram, is the high competition in the market. Competing standards locked down with rights-managed access schemes will need to coalesce into a single way for drivers to access stand-alone chargers.

(Image courtesy Nissan)

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