Commercial Market Size of EV Charging Infrastructure
Delivered February 6, 2020. Contributor: Agnidip M.
Goals
To find out commercial market sizes relating to EV charging infrastructure that support zero emission vehicles across different modes of transportation, such as aviation, highway, railways, maritime and inland waterways, pipelines, transit, bicycles and pedestrian.
Early Findings
- As estimated by greencarcongress.com, there were more than 68,800 Level 2 and DC fast charging units in the entire United States as of May 2019.
- According to estimates put out in the public by Center for American Progress (CAP), there are around 800,000 PEVs or Plug-in Electric Vehicles on the US roads, with around 18,000 charging stations spread across the federally funded roadways.
- Many states in the West, Midwest, and New England have been found to be far ahead in terms of Level 2 charging deployment.
- A collaboration of eight states working toward a collective 3.3 million zero-emissions vehicles on their roads have more than 15 percent of public Level 2 chargers each, that CAP determined they will need by 2025 for their roadways transportation.
- As research suggests, the market of EV charging stations in U.S. is larger at commercial spaces than residential spaces.
- Overall, the electric vehicle charging infrastructure (EVCI) market size in the United States was valued at USD 1.10 billion in 2018 and was estimated to expand at a CAGR of 39.3% from 2019 to 2025.
- At the above rate, the market was projected to reach USD 11.35 billion by 2025.
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