EVSE Market to Grow by Compound Annual Rate of 35% From 2012 Through 2016
A relatively accurate method for determining growth in any particular industry is to evaluate the suppliers that make essential components for that industry’s ultimate success.
For the electric vehicle industry, the above methodology implies that we should evaluate the predicted growth in the Electric Vehicle Service Equipment (EVSE) supplier industry.
Fortunately for us, Infiniti Research did exactly that and even kindly published a report titled “Strategic Assessment of the Global Electric Vehicle Service Equipment Market 2012-2016.”
According to Infiniti Research, a massive number of advanced vehicle technology projects are scheduled over the next few years and that means that the EVSE industry has to respond by growing in size.
The research firm predicts that from 2012 through 2016, the EVSE industry will grow at a compound annual rate of 35.3 percent. In addition to growing, prices for charging stations will continue to follow a declining path.
Infiniti Research lists these firms as the heavyweights in the EVSE industry:
- General Electric
- Coulomb Technologies
- Schneider Electric
- Better Place
- Eaton Corp
The only predicted setback that the EVSE industry might need to deal with is related to electric vehicle prices, says Infiniti Research. The research firm says it remains to be seen if the general public, not to be confused with early adopters or techies, will accept that electric vehicle cost more upfront than conventional automobiles. If this price hurdle can be overcome, then growth in both the EV and EVSE industries will come quickly.