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Forecast Finds EV Charging Stations Set to Skyrocket by 2020

Global EV Charger market is forecast to grow from roughly 1 million units in 2014 to more than 12.7 million units in 2020, according to a new report by IHS Inc.

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The global EV Charger market is forecast to grow from roughly 1 million units in 2014 to more than 12.7 million units in 2020, according to a new EV Charging Infrastructure report by IHS Inc. The report investigates the current and future regional deployments of EV charging stations and identifies factors for future growth.

“Deployments of EV charging stations are critical to enable a widespread adoption of electric plug-in vehicles,” said Ben Scott, senior analyst at IHS Automotive. “Most charging stations are expected to be installed in domestic applications, such as a dedicated wall box or simply a charging cord plugged into a household power source.”

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According to IHS Automotive, the global production market for pure electric and plug-in hybrid electric (PHEV) vehicles is expected to grow significantly between 2014 and 2020.

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