Report Says 11.4M EV Charging Stations by 2020 image

According to a new report from Pike Research, by 2020 there will be 11.4 million EV charging stations installed worldwide.

“Public charging stations have been heavily dependent on government funding,” says senior research analyst Lisa Jerram. “The industry is now trying to devise successful business models for deploying stations in public locations—an effort that will become increasingly urgent as government funding winds down.”

With demand for EVs increasing, so is the development of electric vehicle supply equipment. Analysts predict that more than 135,000 PEVs will be sold globally by the end of the year, and the number is expected to rise at a steady pace.

Jerram also said that there will be an increasing split between commercial and residential EVSE sales, as more and more PEV owners have access to home charging. But the report concludes that the market for commercial charging equipment will increase much faster than that for residential charging equipment.

Pike Research also says that 2013 will be a critical year for the PEV market, as it will be adopted by a broader base of customers that live in multi-family dwellings, besides the early adopters that live in regions such as North America, where consumers are expected to have a parking spot in which to install a charger. This change will increase sales of the commercial EVSE, compared with residential ones.