BOULDER, Colo.--(BUSINESS WIRE)--The introduction of the Renault ZOE at the end of 2012 and the Volkswagen Golf in 2013 – two electric vehicles (EVs) that could have mass-market appeal – should dramatically increase consumer interest in EVs in Europe, and spur investment from companies looking to provide charging infrastructure. According to a recent report from Pike Research, a part of Navigant’s Energy Practice, the market for electric vehicle supply equipment (EVSE) will grow rapidly in Europe over the remainder of the decade, with annual sales of EVSE growing from less than 47,000 units in 2012 to nearly 900,000 in 2020. By 2020, the study concludes, there will be more than four million charging stations, both commercial and residential, operating across Europe.
“In many ways, Europe is the ideal market for electric vehicles”
“In many ways, Europe is the ideal market for electric vehicles,” says research director John Gartner. “European consumers, accustomed to smaller city cars and driving shorter distances, are expected to shift to EVs at a more rapid pace than motorists in North America. Also, because more Europeans live in multi-unit dwellings, commercial charging equipment is likely to be more prevalent there than in North America.”
One factor that could limit the spread of EVSE, according to the report, is the great variety between countries in terms of regulations, government support for EVs and charging infrastructure, and technologies. The absence of a single, region-wide alternating current EV charging connector standard has hampered the deployment of EV charging infrastructure. The European Union must address these country-specific variations if the EV market is to thrive, the report finds.
The report, “Electric Vehicle Charging Equipment in Europe”, examines key market trends and drivers for the deployment of electric vehicle charging equipment across Europe. The study includes a comprehensive analysis of business models and demand factors, technology and standards issues, and the strategies of key industry players within the region. Detailed market forecasts are provided for 19 European countries and seven key market segments, including projections for equipment sales and revenue through 2020. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant’s global Energy Practice on July 1, 2012, provides in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Electric Vehicle Charging Equipment in Europe,” is a summary and reflects Pike Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.