GTM Research, a Wood MacKenzie company, has released a report which gives a broad perspective on the EV industry’s attempts to roll out electric car infrastructure to support an expected 13 million electric vehicles.
Up to 40 Million EV Charging Points Globally by 2030 predicts increasingly rapid changes, with the North American market totaling only $2.7 billion in the next two years, but $18.6 billion by 2030. The investment is split between physical equipment, and installation, operations and maintenance (O&M) services.
As the report breaks down the above groupings of deployment type, they also cross that with the specific companies that exist within each space – and those crossing multiple spaces. Focusing on the annual energy market transactions in North America, GTM Research predicts an increase to a combined $13 billion in 2030 in the combination of energy and delivery of grid services.
The report also forecasts that 12 million residential charging points and 1.2 million public charging points will be installed in North America by 2030, but these changes are definitely global. Europe is expected to face similar trends, with estimated 9 million residential and 1.6 million public charging points. Overall sales may soar 24 percent each year on average through to 2030, with China expected to become the biggest market.
One investment line is called out in particular: services that will enable EV chargers to be grid interactive, enabling EVs to participate in energy markets and distributed energy resource aggregation. This will make EVs part of the greater connected, distributed energy landscape. This is especially important to the energy storage side of the equation. As we know from Tesla’s Q2’18 report, that electric cars and energy storage directly compete for manufacturing resources.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.