Electric vehicle charging: predictions from Juniper Research
A new study by Juniper Research found that the global volume of electric vehicle charging sessions will exceed 1.5 billion per’year in 2026. While today the share is just 200 million. This remarkable growth rate of more than 665% over the next five years will be driven by increased government incentives for electric vehicles.
As well as by more widespread availability of charging services. And this represents a market where the battle of energy players will be played out.
Electric vehicle charging: the expected boom over the next 5 years
Research has identified incentives for electric vehicle ownership that have significantly increased adoption in Europe. With coordinated incentive packages needed in North America to spur growth.
To support greater electrification, Juniper Research recommends EV charging vendors work with governments and other stakeholders. Including, for example, fuel retailers, to plan for a coordinated roll-out of the public charging network. Without this, the mass electrification of mobility is likely to grind to a halt.
Home charging drives current usage but not economic revenue
The new research EV Charging: Key Opportunities, Challenges & Market Forecasts 2021-2026, found that home charging for electric vehicles will decline slightly in the future. And it will account for more than 70 percent of all EV charging sessions in 2026, up from just over 80 percent in 2021. However, the report found that this dominance does not directly translate into hardware revenue for charging point providers.
With public charging stations That will account for 56 percent of charging point revenue globally in 2026.
Research author Nick Maynard explained: “While charging electric vehicles at home will remain largely dominant, public charging stations will be a major focus in the future. And their installation will be critical to enable users without off-street parking to join the electric mobility revolution”.
Fast charging is the next battleground
Electric vehicles are Becoming more powerful with a battery that lasts longer. This is why DC fast-charging stations will be the next competitive battleground inside the electric vehicle charging landscape.
The report recommends that already now vendors are working On partnerships with key destinations, such as parking lots and retailers. In order to plan for the roll-out of fast charging stations. Or ground will be lost to faster-moving competitors.
At this link you can find Juniper Research’s white paper on electric mobility.