NEW YORK, NY--(Marketwire - Jul 24, 2012) - Picking up the pace with the rapidly increasing sales of plug-in electric vehicles (PEV), the electric vehicle service equipment (EVSE) market is growing exponentially, a trend that will continue on through 2021. A recent report by industrial and energy market research publisher SBI Energy reveals EVSE infrastructure is developing at different rates worldwide and is linked to the amount of electric vehicle sales regionally, as well as government incentive programs.
Sales of PEVs grew to 116,000 in 2011, more than four times the number sold in 2010, according to the report. Emerging EVSE technologies, which include residential electric vehicle chargers, usually bundled with a PEV, and commercial charging stations are far behind the number needed to relieve 'range anxiety.'
"Worldwide EVSE sales skyrocketed to just under 116,500 charging units sold in 2011 for a market value of $225.9 million," said Norman Deschamps, author of the report. "Sales are expected to climb to over 4.1 million charging units, valued at $3.4 billion by 2021."
The infrastructure build-up of electric vehicle equipment and services is developing at different rates worldwide, and is very dependent on the number of plug-in electric vehicle sales. According to the report, various standards for charging power levels exist between the United States, Europe, China and Japan, however, this has not hindered the development of this market.
"Like the PEV market, the EVSE market is still developing. Total sales amounted to less than $60 million over the three years from 2007 to 2009, largely due to EVSE infrastructure expansion in Europe," said Deschamps. "This accelerated in 2010, with Japan increasing both residential and commercial EVSE sales and China building charging stations and installing charging posts in key cities for buses and fleets," Deschamps explains. "Then 2011 saw an almost five-fold jump in PEV sales compared to 2010; this jump sparked a similar awakening for the EVSE market."
The report, Electric Vehicle Services Equipment, analyzes the EVSE market, including both hardware and software, according to the following segments: residential chargers sold either with a PEV or as an aftermarket product; commercial PEV charging systems sold to fleets, governments and private businesses; and EVSE sales by regional market. It provides details on trends in pricing, product development and employment, as well as demographic research on residential and commercial buyers. It also profiles industry participants, including Panasonic, DBT, ABB, Siemens, Nissan, GE and many more.
About SBI Energy
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit www.sbireports.com.