It ranks ChargePoint and DBT as the market leaders, thanks to their range of feature-rich EVSE offerings, current market share, geographic reach, and vision.
The market for electric vehicle supply equipment (EVSE) is expected to grow tenfold in the next eight years, according to a new study by market research firm Pike Research. EVSE makers have certainly been doing lively business of late, helped along by policymakers in local governments all over the world, many of whom are convinced that widely available public charging is a key to EV adoption. Echoing a prediction it made in another paper released last month, Pike expects this gravy train to slow down.
A summary of the new report’s findings:
A surge of new companies has moved into the electric vehicle supply equipment (EVSE) market over the past 18 months. However, the EVSE market is currently quite small, as EVSE sales are dependent on plug-in electric vehicle (PEV) sales, which have grown slowly since the Nissan Leaf and Chevy Volt were launched in 2010. The EVSE market is expected to rise from just less than 200,000 units sold in 2012 to almost 2.4 million in 2020. The market is also entering a new phase where it will be less dependent on government-funded deployments and thus required to present an attractive return on investment for potential EVSE operators.
Pike’s new report evaluates 14 EVSE manufacturers, all of whom sell both residential and commercial Level 2 chargers. It ranks ChargePoint (formerly Coulomb Technologies) and DBT as the market leaders, thanks to their “range of feature-rich EVSE offerings, current market share, geographic reach, and vision for competing successfully in the next phase of the EVSE market.”