According to a new report from Navigant Research, spending on global EV infrastructure will amount to over $80 billion by the end of 2025, funding the deployment of nearly 230 GW of charging capacity.
According to the report, stakeholders with the ability to invest in large-scale deployments – such as governments, utilities, and automakers – will continue to play an outsized role over the next 3-5 years. After that period, the market will reach a more demand-driven status.
The report, Market Data: Electric Vehicle Charging Equipment, analyzes the global market for charging equipment sales and installations. It covers the major drivers of the charging market by access type (home, private, and public) and use cases (workplace; multi-unit dwellings; destination parking; fleets of EVs), as well as the potential uptake of the various types of charging (Level 1, Level 2, DC fast charging, wireless and networked charging).
“Rising PEV penetration across multiple vehicle types and into a wider variety of environments and customer segments is creating a lot of room for innovative business models and technologies,” says Navigant Senior Research Analyst Scott Shepard. “The market is currently trending toward the development of publicly available ultra-fast solutions, but there is still much ground to be gained in private network development for fleets, apartments, and workplaces.”
Source: Navigant Research