Plug-in EV (PEV) sales have grown significantly since the first mass market versions were deployed to major global markets in 2010, but they have not yet hit an inflection point. However, market signs indicate this point is near. By the end of 2027, battery prices should be at levels where battery EVs (BEVs) with ranges below 150 miles will be at cost parity with their internal combustion engine powered counterparts. The cost decline will primarily be a function of leaps in battery innovation, particularly the commercialization of solid-state batteries.
Navigant Research estimates that by the end of 2018, over 5 million PEVs will be on roads globally; by 2027, there will be over 10 times that figure. This population will require nearly as many charging ports as vehicles, and these ports will need to be ever more capable and sophisticated. This means higher power capacities and smarter technologies that can relay vehicle and charger information. The current PEV market is heavily skewed toward home charging in many, though not all, markets. Over the next 10 years, PEV energy demand will likely shift more toward fleet, private, and public chargers. The market will see major investments from automakers, utilities, energy companies, and governments during the next few years, but for the long term, viable business cases will need to be developed for each charging segment.
This Navigant Research report analyzes the global market for PEV charging equipment sales across four major use cases: home charging, private charging, fleet charging, and public charging. The study covers the major drivers for the charging market and analyzes the potential uptake of alternating current (AC), direct current (DC), and wireless EV supply equipment (EVSE). Global market forecasts for charging equipment sales, segmented by region, technology, access type, and location type, extend through 2027. The report also assesses the key emerging market and technology trends and the competitive landscape.