Navigant Research: The global plug-in electric vehicle (PEV) charging market consists of two segments: residential and commercial. Residential charging is closely tied to the state of PEV sales and continues to grow in tandem with the PEV market. Commercial charging is dependent on a viable business model or major policy push for its success. Both markets exhibit different trends at a national or state level, depending on factors such as population density, utility involvement, and policy push for PEV adoption.
The residential charging market is entering a phase where the chargers are simply a commodity, with a focus on bringing down the price. The commercial charging space continues to test various business models, especially for the public charging market, including free charging to draw in customers, fees for usage by the hour or kilowatt, and the use of advertising. In some countries, public charging is driven by supportive policies; in others, public networks are being built out by automakers or utilities. The commercial charging market is still in flux, representing a competitive environment for PEV charging service providers. According to Navigant Research, global revenue from electric vehicle supply equipment (EVSE) charging services will grow from $81.1 million in 2014 to $2.9 billion by 2023.
The residential charging market is entering a phase where the chargers are simply a commodity, with a focus on bringing down the price. The commercial charging space continues to test various business models, especially for the public charging market, including free charging to draw in customers, fees for usage by the hour or kilowatt, and the use of advertising. In some countries, public charging is driven by supportive policies; in others, public networks are being built out by automakers or utilities. The commercial charging market is still in flux, representing a competitive environment for PEV charging service providers. According to Navigant Research, global revenue from electric vehicle supply equipment (EVSE) charging services will grow from $81.1 million in 2014 to $2.9 billion by 2023.
