Industry Trends : Electric Vehicle Supply Equipment Market 2023 - Clipper Creek, EV Box, Bosch, LiquidSky, Greenlots and Chargepoint

Albany, NY, 17th June : Recent research and the current scenario as well as future market potential of "Electric Vehicle Supply Equipment Market".

As defined in this report, the global EVSE market is estimated to have been worth over REDACTED in 2018 and is estimated to increase to nearly REDACTED in 2023. This market is expected to grow at a CAGR of REDACTED between 2017 and 2023 under a consensus scenario.

As this report is concerned only with charging systems for passenger PEVs, much of this growth is directly related to the growth of that market. With each PEV delivered, the supplier provides a cordset that allows charging at an electrical outlet, typically for emergency or stranded charging. Consequently, the quantity of cordsets represents the largest segment in the market. However, because of their low cost, their market value is smaller than all types other than basic AC Level 1.

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In addition to the growth in PEVs, continued incentives and goals related to the establishment of public infrastructure is expected to contribute significantly to this market, with significant growth in both AC Level 2 and DC fast chargers. Although eclipsed in numbers, the higher cost of the DC fast charger contributes to its large market share. It is the higher cost of DC fast chargers that currently tends to push the infrastructure, in terms of quantity, toward AC Level 2 EVSE. Increasingly, DC fast chargers will be deployed, especially along transportation corridors. However, as is the case with most public infrastructure, actual charging utilization will be key in terms of a successful business model.

Basic AC Level 1 equipment is primarily used in North America for fleet and workplace applications, with most public infrastructure installed as Basic or Smart AC Level 2. (This category in this report also includes AC Modes 2 and 3.) Basic AC Level 1 may represent a market opportunity as more employers seek to provide employee benefits, as it apparently has fewer dedicated suppliers. As the reporting period advances, smart equipment is expected to capture additional market share as more equipment is networked and the advantages of connected equipment are recognized. In addition, PEV batteries are expected to increase in capacity, leading to longer ranges for BEVs. However, this will also require faster rates of recharge.

Report Scope:

As the worlds embrace of electric vehicles (EVs) is expanding, the charging systems necessary for the support of these vehicles are expanding through a variety of market drivers. The term electric vehicle in this report includes commercial approaches such as pure battery-powered electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV) and range-extended electric vehicle (REEV). Collectively, these EVs are termed plug-in electric vehicles (PEVs). Vehicles that use a combination of electric and internal combustion but without a charging port are termed hybrid electric vehicle (HEV) but are not included in this report. Only vehicles that employ a means for an external charge connection are considered.

Electric buses and other large electric vehicles are growing segments of their respective markets. However, charging systems are not considered in the market evaluation for this report. While electric buses are commercially available, larger heavy-duty vehicles are still under development. The associated charging systems are typically unique to the vehicle or their application. Some aspects of these charging systems are included in this report as background information. The market evaluation for these charging systems can best be evaluated with the vehicles themselves.

Some electric vehicles may be charged using a simple extension cord from a typical wall circuit; those are not included in this report. Only on-road vehicles are considered. In other words, charging systems for all-terrain vehicles, neighborhood electric vehicles, golf carts, scooters or electric bikes and similar vehicles are not considered.

Some companies have developed battery-swapping operations; rather than the PEV driver recharging the PEV battery, the entire battery is exchanged for a fully charged battery. These companies then employ charging systems to recharge the battery while off-board the vehicle. Such systems are not considered in this report.

Material handling equipment (e.g. fork trucks, air craft ground support equipment) may utilize electric motive power. Charging systems for this type of equipment are unique to these applications and typically do not cross over to the on-road PEV market. These charging systems are not included in this report.

This report details actual figures for 2013 and 2017 and compound annual growth rate (CAGR) projections for 2018 through 2023 for global and regional markets. Sales values are provided under consensus, optimistic and pessimistic scenarios. A discussion of emerging technologies describes the areas in which research is being performed and incentivized and their anticipated effects in future markets.

Note that values are expressed in millions of dollars, and shipments are expressed in 1,000 units. In both cases, totals are rounded to the nearest integer (i.e., less than $500,000 is expressed as $0). Values are based on the equivalent of retail, which is the price publicly advertised. While incentives exist for the private sale of PEVs, incentives to reduce the cost of charging systems are primarily restricted to those installed in public locations.

The equipment detailed in this report includes those that interface between the electric utility supplied power source and the PEV. Because these may or may not technically be chargers, as will be defined below, the term electric vehicle supply equipment (EVSE) is used. Differences in geographic markets also exist in part because the electricity is generated and supplied differently.

This report defines the differing technologies employed by EVSE suppliers and the related market sectors, identifies leading supplier companies and analyzes markets in differing geographic markets to provide a five-year forecast. Finally, the company profiles section provides the status of and recent events for companies providing EVSE.

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Report Includes:

- 94 data tables and 81 additional tables
- An overview of the global market for Electric Vehicle Supply Equipment (EVSE)
- Analyses of global market trends, with data from 2017 to 2018, and projections of CAGRs through 2023
- Country specific data and analysis for U.S., Canada, Netherlands, Germany, France, United Kingdom, Norway, Japan, China and Korea
- Detailed description of function and design of EVSE supporting Plug-in Hybrid Electric Vehicle (PHEV) and features and benefits of EVSE types
- A look into issues and costs associated with EVSE installations
- Explanation of the major drivers and regional dynamics of the market and current trends within the industry
- Company profiles of major players in the industry, including Clipper Creek, EV Box, Bosch, LiquidSky, Greenlots and Chargepoint

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