Electric Vehicle charging station to reach 7.7 million by 2017

According to a new report by market research and consulting firm Pike Research (Boulder, Colo., U.S.A.), by 2017 it is forecasted that more than 1.5 million Electric Vehicle (EV) charging stations will be available in the United States, with a total of 7.7 million locations worldwide. The research firm anticipates that increasing demand for charge points will be driven in part by a rapid decline in electric vehicle supply equipment (EVSE) prices, which will require manufacturers to adapt their business models as volumes continue to increase.

“Basic electric vehicle supply equipment will quickly become a commodity,” says John Gartner, senior analyst at Pike Research. “EVSE prices will fall by 37% through 2017 as costs are driven lower by competition from large electronics companies as well as volume production. In the face of this trend, manufacturers will integrate their equipment with external storage units, home energy management systems, and smart grid equipment to add value and increase their revenue.”

Gartner adds that the ‘EV charging as a service' business model is growing as network operators look to provide EVSE location and status information available on demand. He expects that these companies will integrate billing and aggregate power consumption to create new services that will help to stabilize grid operations and create new revenue streams in the process.

Pike Research's analysis further indicates that emerging categories such as direct current (DC) and wireless charging equipment will become an increasingly important part of the EV charging station market during the next six years. The firm forecasts that DC charging stations deployments will reach 115,000 units and wireless charging equipment will come close to 150,000 units installed by 2017.

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