Spending on Charging Stations for Plug-in Cars to Approach $13 Billion in 2016
Oyster Bay, New York - 29 Jun 2011
ABI Research projects a strong future for the development of charging infrastructures for plug-in hybrid and electric vehicles. A new study forecasts that by 2016, there will be nearly three million vehicle charging stations up and running worldwide, with annual revenues associated with the purchase and installation of those stations growing to nearly $13 billion that year.
Practice director Larry Fisher says that governments around the world are investing in pilot projects to install public charging stations for plug-in vehicles. Some countries, notably China, Israel and Denmark, are even investing in automated battery switch stations, which trade depleted batteries in electric vehicles for fully charged batteries in a matter of minutes, compared to the hours required to charge an electric vehicle battery at most standard charging points.
Fisher observes that business models are only now being developed for public charging of electric cars. “Ultimately, public charging may require contracts similar to today’s cellphone contracts, which provide ‘all-you-can-eat' charging for a single price, or which offer a specific amount of charging and then hike the price for additional electrical usage."
The ABI Research report “Electric Vehicle Infrastructures: Charging Stations for Electric and Hybrid-Electric Vehicles” examines the state of the electric vehicle charging market, with forecasts of the number of stations to be installed worldwide, by major region and country, from 2011 through 2016. The report offers insights into the types of charging stations that will be most prevalent, the countries and regions in which most charging station installations will take place, and the outlook for charging station components. It also includes discussion and forecasts for automated battery switch stations.
The study is published as part of the Automotive Technology Research Service, which also includes other Research Reports, Market Data, ABI Insights, and an ABI Vendor Matrix.
ABI Research provides in-depth analysis and quantitative forecasting of trends in global connectivity and other emerging technologies. From offices in North America, Europe and Asia, ABI Research’s worldwide team of experts advises thousands of decision makers through 40+ research and advisory services. Est. 1990. For more information visit www.abiresearch.com, or call +1.516.624.2500.
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