Electric vehicle charging station market to grow 155% by 2020, GlobalData report

Global market for electric vehicle (EV) charging stations is expected to grow at a rate of 155% during the period 2011-2020 according to a new report by GlobalData.

The report, Electric Vehicles Charging Stations - Market Analysis and Forecast to 2020, provides an analysis of the global market for electric vehicle charging stations with insights on key countries such as the US, Canada, the UK, Ireland, Germany, Australia and Japan.

The report has attributed the growth in the EV market to the increasing production of electric vehicles in order to reduce CO2 and greenhouse gases (GHG) from the transportation sector.

Government support is expected to help the market witness mass deployments to sustain the increasing penetration of electric vehicles during this period.

The report covers market factors for the electric vehicle (EV) charging stations such as drivers, restraints and government policies besides providing a brief overview on the EV charging station technology, standards related to EV charging stations, and comparison of product features from different vendors.

The markets such as North America, Europe and Asia-Pacific are in the introductory stage and are expected to grow at a significant rate in the coming years, while the Asia-Pacific region is expected to emerge as a major market by the year 2020.

The report also offers brief profiles of major EV charging station vendors including Coulomb Technologies, AeroVironment, Better Place and Eaton Corporation.

It details different standards followed for the installation of charging stations across various regions globally.

The research notes the governments of individual countries have established targets for electric vehicle deployment for 2020, which will act as a driver promoting the charging station market, though lack of uniform standard for charging stations will hamper market prospects.