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Report Forecasts Rapid Growth for EV Charging Infrastructure in Europe

EV-Charging
The electric vehicle charging industry in Europe is in the midst of transformation, with the focus on ramping up EV charging infrastructure for the rapidly expanding EV market.

Significant growth is on the cards as participants from various verticals such as industrial automation, utilities, parking operators and infrastructure operators enter the fray. This development is also set to help the EV market wean itself off government subsidies and incentives, while becoming increasingly self-sustaining.

New analysis from Frost & Sullivan Strategic Technology and Market Analysis of Electric Vehicle Charging Infrastructure in Europe, finds that the market for EV charging stations is expected to grow rapidly from 7,250 charging stations in 2012 to over 3.1 million by 2019 at a compound annual growth rate (CAGR) of 113.3 per cent over the period 2012-2019. France, Germany, Norway and the United Kingdom are expected to lead the market due to the high adoption rates of EVs in these countries.

The availability of charging infrastructure plays a vital role in ensuring that EVs maintain their growth momentum. This, in turn, means easy access to charging stations to eliminate range anxiety and ensure that EV users have the freedom to drive for longer periods of time.

“Frost & Sullivan research indicates that over 3.1 million charging stations are likely to be installed across Europe by 2019,” notes Frost & Sullivan Automotive & Transportation Research Associate Prajyot Sathe. “Mode 2 charging is expected to account for over 64 per cent of the market share as nearly 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.”

Mode 3 charging will be popular in public locations. However, DC charging will be installed in strategic locations where vehicles can be charged in less than 30 minutes. Inductive charging will also be popular, but is likely to be adopted only post- 2014.

Even as the market picks up steam, a major speed bump will be inability to provide long range in a single charge and charging times varying from 30 minutes to 10 hours.

Apart from technical issues, another challenge relates to the as yet ambiguous roles of utility companies, original equipment manufacturers (OEMs), and charging infrastructure providers in the market. Moreover, multiple rules and regulations related to the electricity usage and charges across EU means that a standardised business model is yet to be adopted. Developing a dynamic business model will, therefore, be a key requirement if the market is to continue on its upward trajectory.

May 30, 2013Blagojce Krivevski
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Blagojce Krivevski

Blagojce Krivevski is physicist and green technology lover. Keep in touch with Blagojce through his email, web site, Twitter, Linkedin, Facebook and Google+.

May 30, 2013 Electric Car Newselectric vehicle charging, electric vehicles, EV Charging, EV Charging Infrastructure
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