IDTechEx Research predicts electric vehicles for construction, agriculture and mining will be a $81 billion market in 2027.
Transparency Market Research projects the global electric vehicle charging station market is expected to reach a valuation of US$37.5 billion by the end of 2025. The residential segment is forecast to emerge as the leading consumer. In terms of volume, customers in the residential sector are expected to account for over 41% of the global electric vehicle charging station market in 2017. “The demand for electric vehicle charging stations will rise in response to the increasing sales of electric vehicles,” said the TMR report’s author. While Asia is the largest market currently, the fastest growing areas over the next decade will be Africa and the Middle East. Government incentives and subsidies are a major driver in the car charging market. The major barriers to growth in this market are the high cost of electric vehicles and the large investment required in the initial deployment of charging stations.
The Sun discusses the hidden costs of purchasing a second-hand electric car.
A report by the Center for Automotive Research at the University of Duisberg-Essen in Germany predicts the market for new cars in China will exceed 30 million vehicles a year by 2025 and it expects electric vehicle sales to make up 30% (10.5 million vehicles) of that figure. In 2016, EV sales in China amounted to 2.1% of total vehicle sales.
UK consultants Element Energy say the 86,000 electric vehicles now on the road in the UK will increase to over 4.5 million by 2040, accounting for 7% of the nation’s total energy consumption.
Green Alliance reports that six electric cars charging at the same time on a street could cause local power shortages in the UK. A single EV charge can use as much electricity as a typical UK household uses in three days. The ratio of EVs per charger in the UK has grown from 0.78 to 7.34 in just four years. The European Commission has suggested the maximum ratio to avoid charging blockages and congestion is one in 10.
There are currently 15,812 publically accessible electric charging stations throughout US, according to the country’s Energy Department. These stations account for more than 42,000 individual outlets. Most of these EV charging stations are clustered around major metropolitan areas along the east and west coasts. This compares with between 100,000 and 150,000 gasoline stations spread throughout the country.
ChargePoint, a private service that installs commercial and residential electric car chargers, estimates there are currently more than 600,000 electric vehicles operating on US and Canadian roads. The company predicts that once EVs are widespread, 80% of charging will be at home or at work, while 20% will be at a public location — i.e., in parking lots, streetside. or fast charging stations on the highway.
As of February of this year, US electric vehicle sales totaled more than 580,000 units, representing approximately 1 terawatt-hour of annual consumption. Bloomberg New Energy Finance projects that EV electricity consumption will increase to roughly 33 terawatt-hours per year by 2025 and 551 terawatt-hours by 2040. Given this expected surge in electricity consumption, gtm discusses how electric utilities can harness EVs as flexible loads.
Tesla announced that by the end of this year it expects to have globally 10,000 fast-charging Superchargers and 15,000 of its slower Destination Charging connectors. In addition, many of its new charging sites will be in or close to urban centers. Currently the company has installed 5400 Superchargers, which provide fast charging at up to 145 kilowatts. Unlike other automakers, Tesla owns, runs, and manages its infrastructure and its charging network is only for Tesla vehicles.
A consortium of British companies has unveiled a plan to test driverless cars on UK roads and motorways in 2019. The Driven group also plans to try out a fleet of autonomous vehicles between London and Oxford. Previous tests of driverless vehicles in the UK have mainly taken place at slow speeds and not on public roads. The fleet of cars will communicate with each other about any hazards and should operate with almost full autonomy – but will have a human on board. Professor Paul Newman, of Oxford University, said: “What’s interesting is what data the vehicles share with one another, when, and why.”
The Auto Future has an infographic on driverless cars.