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European Electric Vehicle Charging Infrastructure Market Becoming Increasingly Self Sustaining Says Frost & Sullivan - Market to be bolstered by improved strategic access to charging stations and development of robust business models - Automotive.Frost.com
European Electric Vehicle Charging Infrastructure Market Becoming Increasingly Self Sustaining Says Frost & Sullivan

 

NewswireToday - /newswire/ - London, United Kingdom, 2013/05/28 - Market to be bolstered by improved strategic access to charging stations and development of robust business models - Automotive.Frost.com.

   
 
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The electric vehicle (EV) 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 (automotive.frost.com), 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.

"Through continuous R&D, market participants are expected to introduce innovative solutions that address these issues," says Sathe. "Emerging trends, for instance, are focusing on AC fast charging which will charge vehicles in 2-3 hours, representing the best use case in locations such as cinema halls and shopping malls."

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.

"Improving access through building of essential charging infrastructure in strategic public and private locations will overcome the challenge of range anxiety," concludes Sathe. "Technology advancement that reduces charging time while improving reliability, safety and robustness of the electric charging system will encourage EV adoption."

If you are interested in more information on Frost & Sullivan’s research Strategic Technology and Market Analysis of Electric Vehicle Charging Infrastructure in Europe (M86E), please send an email to Katja Feick, Corporate Communications, at katja.feick[.]frost.com, with your full contact details.

Strategic Technology and Market Analysis of Electric Vehicle Charging Infrastructure in Europe (M86E) is part of Automotive & Transportation Growth Partnership Service programme. Frost & Sullivan’s related research services include: Strategic Outlook of Global EV Market in 2013, Strategic Technology and Market Analysis of EV Charging Infrastructure in North America, and Asia-Pacific EV Charging Infrastructure Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

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Frost & Sullivan will be hosting its two-day interactive workshop Urban Mobility 3.0: New Urban Mobility Business Models on 19-20 June 2013 at the House of Lords and the Siemens Crystal Building in London. Day 1 will feature a high-level debate on the "Death of the conventional car and rise of new urban mobility business models". Day 2 will consist of 5 different panels, focussing on mega trends and their impact on mobility, new business models, such as mobility integration, car sharing, and new fleet/leasing models, urban logistics and online retailing, as well as autonomous driving. A limited number of media passes are available.

For more information, visit urbanmobility.gilcommunity.com/.

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European Electric Vehicle Charging Infrastructure Market Becoming Increasingly Self Sustaining Says Frost & Sullivan

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