Navigant Research Expects More Than $80 Billion Will Be Spent on Global Electric Vehicle Infrastructure Development by the End of 2025

Governments, utilities, and automakers are likely to play an
outsized role in the growth of electric vehicle charging installations
during the next 3 to 5 years, report finds

BOULDER, Colo.–(BUSINESS WIRE)–#DCfastcharging–A new report from Navigant
Research analyzes the global market for plug-in electric vehicle
(PEV) charging equipment sales, providing global market forecasts,
segmented by region, power level, technology type, end use, and
networking capability, through 2026.

The PEV market is entering a new phase thanks to battery cost declines,
making way for longer-range PEVs and a wider range of vehicle body
types. This shift is driving an uptick in electric vehicle (EV) charging
investment by major stakeholders, and creating opportunities for
specific charging technologies such as DC fast chargers and smart,
grid-integrated chargers. Click
to tweet: According to a new report from @NavigantRSRCH,
more than $80 billion is expected to be spent on global EV
infrastructure development by the end of 2025, leading to the
development of nearly 230 GW of charging capacity.

“Rising PEV penetration across multiple vehicle types and into a wider
variety of environments and customer segments is creating a lot of room
for innovative business models and technologies,” says Scott Shepard,
senior research analyst with Navigant Research. “The market is currently
trending toward the development of publicly available ultra-fast
solutions, but there is still much ground to be gained in private
network development for fleets, apartments, and workplaces.”

According to the report, stakeholders with the ability to fund
large-scale deployments—such as governments, utilities, and
automakers—will continue to play an outsized role in the growth of EV
charging installations during the next 3-5 years. After that period, the
market is expected to reach a more truly demand-driven status, as the
growing PEV population drives interest in a range of charging options.

The report, Market
Data: Electric Vehicle Charging Equipment, analyzes the global
market for PEV charging equipment sales and installations. The study
covers the major drivers for the charging market by access type (home,
private, and public) and use cases (workplace; multi-unit dwellings;
destination parking; fleets of light, medium and heavy duty EVs), and
the potential uptake of Level 1 and Level 2 AC, DC, wireless and
networked EVSE. Global market forecasts for charging equipment sales and
installations, by port and by charger, and segmented by region,
technology type, access type, and location type, extend through 2026. An
Executive Summary of the report is available for free download on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Market Data: Electric Vehicle Charging Equipment, is a
summary and reflects Navigant Research’s current expectations based on
market data and trend analysis. Market predictions and expectations are
inherently uncertain and actual results may differ materially from those
contained in this press release or the report. Please refer to the full
report for a complete understanding of the assumptions underlying the
report’s conclusions and the methodologies used to create the report.
Neither Navigant Research nor Navigant undertakes any obligation to
update any of the information contained in this press release or the
report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]