Study Says EV Charging Equipment Sales to Surge

January 30, 2014

Patrick Ponticel

ClipperCreek on Jan. 28 announced availability of its HCS-40P charging station with factory installed NEMA 14-50P or 6-50P wall plugs for 240-V, 30-A charging.

Global sales of plug-in vehicles (PEVs) rose by more than 55% in 2013, and the market is expected to continue to grow at a steady pace over the next nine years, according to a recent report by Navigant Research. That expansion has led to solid growth in the market for electric vehicle charging equipment (better known in the industry as electric vehicle supply equipment, or EVSE) – growth that is expected to accelerate over the next several years. Worldwide revenue from EVSE sales will grow from $567 million annually in 2013 to $5.8 billion in 2022. The report says: “The market for EV charging has seen an imbalance between the relatively high number of available chargers and the number of vehicles on the road, but that ratio is moving toward equilibrium. In some markets, charging demand outstrips supply,” Lisa Jerram, Senior Research Analyst with Navigant Research said in a press release. “The market has seen a wealth of offerings, including a wider range of EVSE at varying power levels and price points, and this diversity will help drive demand as consumers’ choices increase.” The EVSE market is divided between residential and commercial equipment, which includes workplace, public, and private facilities. The market will see higher demand for residential units than for commercial units through 2014, according to the report, as early PEV buyers are more likely to own their own homes. As the PEV market grows, it will reach a broader base of consumers living in multi-family dwellings, leading to greater growth in the sales of commercial EVSE for private use.