Important Stats

• EVAdoption estimated that as of March 31, 2019, there were a total of 63,303 EV charging stations available for public use in the United States. Of these, 50,438 (79.7%) were Level 2 connections and 9,898 (15.6%) were DCFC connections.
• EVAdoption estimated that by 2021, there would be approximately 108,000 public charging stations in the U.S.
• As of December 31, 2017, EVAdoption calculate that there were a total of 20,178 EV charging sites, of which 17,526 (86.9%) were public.
• The global market size for EV charging stations is expected to reach $27.6 billion in 2027 from $2.5 billion in 2019, with an annual CAGR of 34.7%. A separate report from Meticulous Research, however, estimates that the global market size will reach a net worth of $38.9 billion by 2027 with a CAGR of 38.4%.
• According to Statista, there were approximately 78,500 EV charging stations in the U.S. as of March 2020. Of these, it is estimated that 6,835 (8.7%) were in the state of California.
• According to a study published by the Idaho National Laboratory, the average cost to install a workplace level 2 EV charging station is $2,223. The average cost to install a public level 2 EV charging station is $3,108.
• Nareit estimates that REITs in the U.S. own approximately $3 trillion worth of gross real estate assets, of which $2 trillion is public. The Real Estate Roundtable (RER) also estimates that there is about $6 trillion worth of commercial real estate in the U.S.

Market Size Triangulation

• According to Investopedia, a Real Estate Investment Trust (REIT) is "a company owning and typically operating real estate which generates income...properties included in a REIT portfolio may include apartment complexes, data centers, health care facilities, hotels, infrastructure...office buildings, retail centers, self-storage, timberland, and warehouses."
• Of the total estimated $6 trillion of commercial real estate in the U.S., about $3 trillion (or 50%) is owned by REITs.
• Knowing that the CAGR for EV charging stations is about 36.55% [(34.7% + 38.4%) / 2 = 36.55%], it can be estimated that by the end of 2020, there will be around 68,873 public charging stations in the U.S. [50,438 * 1.3655 = 68,873].
• If 50% of public real estate in the U.S. is owned by REITs, then the assumption can be made that 50% of public charging stations will be on REIT-owned property. With this in mind, then, about 34,436 of all public charging stations in the U.S. by the end of 2020 will be on REIT-owned property [68,873 / 2 = 34,436].
• Knowing that the average cost to install a level 2 public EV charger is $3,108, then, the total market size of EV charging stations on REIT-owned property can be estimated to be approximately $107,027,088 [$3,108 * 34,436 = $107,027,088].

Proprietary Research Available