Hyderabad, Andhra Pradesh -- (SBWIRE) -- 07/04/2012 -- The electric vehicle service equipment (EVSE) market exploded in 2010 and 2011, a necessary increase as auto manufacturers finally started mass producing over a half dozen different plug-in electric vehicle (PEV) models worldwide. The number of charging stations around the world increased by more than 230% in both years, with over 116,000 new charge points sold worldwide in 2011. Given the fast rate of adoption of both PEV and EVSE, the EVSE market will be a mainstream market by decade’s end.
The U.S. and Japan lead for public charge points by volume, with both countries enjoying strong sales for both residential and commercial EVSE. However, The U.S. lags both Japan and China in terms of EVSE market value because of a weak fast DC charger segment. China and Japan are the top countries for the fast DC segment with over 970 and 800 installed, respectively, as of the end of 2011. China is the next largest EVSE market, but lacks residential sales as most EVSE sold in China to date have been charging points and battery swapping charging systems for charging stations used by fleets and taxis. Europe is also a strong EVSE market, accounting for 21% of global EVSE sales by market value in 2011. Even though France and Germany lead PEV sales, it is Germany and the UK that have the largest public charging infrastructure networks.
PEV prices are still limiting electric vehicle adoption and, by extension, the EVSE market. The PEV market will continue to be the main driver behind global EVSE sales, followed by government incentives for both PEV and EVSE. Assuming governments maintain their financial support over the next decade and PEV prices continue to decline, there will be a cumulative 3.3 million charging points worldwide in 2016 and 16.9 million in 2021. EVSE sales will reach $3.4 billion by 2021, selling over 4.1 million charging points. The U.S. and Japan will continue to lead the EVSE market. Despite the higher cost of the equipment, SBI Energy sees the fast DC charger segment having the fastest growth rate in the EVSE market over the next decade.
Electric Vehicle Service Equipment Market Worldwide by SBI Energy provides key insight into current and future markets for each EVSE segment and regional market worldwide. This report looks at key competitors and manufacturers of PEV charging systems, and includes definitions, current product offerings and market detail on the following segments:
- Residential electric service vehicle equipment sold either with a PEV or as an aftermarket product;
- Commercial PEV charging systems sold to fleets, governments and private businesses;
- EVSE sales by regional market and type of charger: AC/1, AC/2, fast DC and chargers used in battery swap systems.
In addition to analyzing the market segments, the report also details equipment and installation costs of both private and commercial PEV charging equipment, electricity and fuel prices around the world, and covers the demographics of PEV charger installations in key regional markets. The report also analyzes the primary industries and businesses that are installing PEV charging systems for public use, as well as companies and organizations with electric vehicle fleets and their associated charging infrastructure.
For further information visit http://www.reportreserve.com/report/evse-electric-vehicle-service-equipment-market-worldwide--report-549580