EVSE Market to Grow to $5.8 Billion Annually by 2022
According to Navigant Research, expanding sales of plug-in vehicles means that there will be a boom in the electric vehicle supply equipment (EVSE) market too.
As Navigant predicts, growth in the EVSE market is “expected to accelerate over the next several years.”
Of course it will, but by how much? According to Navigant:
“…worldwide revenue from EVSE sales will grow from $567 million annually in 2013 to $5.8 billion in 2022.”
So, like tenfold in 9 years’ time.
“The EVSE market is divided between residential (intended for use by a single person or family) and commercial equipment, which includes workplace, public, and private facilities. The market will see higher demand for residential units than for commercial units through 2014, according to the report, as early PEV buyers are more likely to own their own homes. As the PEV market grows, it will reach a broader base of consumers living in multi-family dwellings, leading to greater growth in the sales of commercial EVSE for private use.”
Source: Navigant Research