The EV charging industry in Europe is in for significant growth, and will soon wean itself off government subsidies and incentives, according to a new analysis from Frost & Sullivan.
The new study, “Strategic Technology and Market Analysis of Electric Vehicle Charging Infrastructure in Europe,” finds that the market for EV charging stations is expected to grow from 7,250 stations in 2012 to over 3.1 million by 2019. France, Germany, Norway and the UK are expected to lead the market.
Level 2 charging will account for over 64 per cent of the market, as 83 per cent of charging is expected to happen in residences or in a location where the vehicle will be parked for 8-10 hours daily. DC Fast Charging will be popular in strategic locations where vehicles can be charged in less than 30 minutes. Inductive (wireless) charging will also be popular, but is likely to be adopted only after 2014.
Frost & Sullivan see long charging times as a major speed bump. “Through continuous R&D, market participants are expected to introduce innovative solutions that address these issues,” notes Automotive & Transportation Research Associate Prajyot Sathe. “Emerging trends are focusing on AC fast charging which will charge vehicles in 2-3 hours, representing the best use case in locations such as cinema halls and shopping malls.”
“Improving access through building of essential charging infrastructure in strategic public and private locations will overcome the challenge of range anxiety,” concludes Sathe. “Technology advancement that reduces charging time while improving reliability, safety and robustness of the electric charging system will encourage EV adoption.”
Image: Lars Plougmann (flickr)
Source: Frost & Sullivan