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Navigant Research Expects More Than $80B 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 three to five years, the report finds.

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A new report from Navigant Research has analyzed 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.

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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.

According to a new report from Navigant, 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,” said 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.”

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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 three to five 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.

An executive summary of the report, “Market Data: Electric Vehicle Charging Equipment” is available for free download on the Navigant Research website, here.

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