According to a report from Pike Research, more than 1.5 million locations to charge vehicles will be available in the U.S. by 2017, with a total of 7.7 million locations worldwide. This will translate into revenues of more than $4.3 billion for makers of electric vehicle (EV) charging equipment by 2017, up from $400 million in 2011.
Pike Research notes that by 2014, more than 80 different models of plug-in electric vehicles (EVs) will be available globally, and by 2017, more than 5.1 million plug-in EVs will be sold worldwide. In turn, the deployment of charging equipment will expand dramatically.
‘Prices for EV charging equipment will fall by 37 percent through 2017 as costs are driven down by competition from large electronics companies, as well as volume production,’ says John Gartner, research director with Pike Research.