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Electric Vehicle Charging Station US Market to Exceed $4B by 2016, Zpryme Reports

[DOWNLOAD FULL REPORT] Based on ‘The Electric Vehicle Study’ by Zpryme and sponsored by Airbiquity show that the charging infrastructure and charging services market will grow from $776.8 million in 2011 to $4.45 billion in 2016.

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With companies such as ClipperCreek Shipping its 4000 EV Charge Station recently the potentially lucrative EV/PHEV vehicle market, charging station infrastructure market, and charging services market are set to experience significant industry growth from 2011 to 2016. Zpryme predicts the number of EV/PHEVs sold in 2016 will reach 203,200, and that the charging infrastructure and charging services market is will grow from $776.8 million in 2011 to $4.45 billion in 2016 (CAGR of 41.6%).

The projections in The Electric Vehicle Study by Zpryme’s EV Insights Practice and sponsored by Airbiquity (download ‘The Electric Vehicle Study’ for free www.zpryme.com) show that the charging service market value is expected to grow at faster rate than the charging station market value, but the charging station market is expected to be almost eight times larger than the service industry by 2016.

With such high anticipation for the growing U.S. EV market, developing and deploying charging stations has quickly become an extremely competitive race. Both large companies and start-ups are vying for market share, including Coulomb Technologies, ClipperCreek, ECOtality, ABB, GE, Siemens, Leviton, AeroVironment and Pep Stations.

Charging station market Value projections below (2011 – 2016):

EV:

* Annual EV/PHEV unit sales are projected grow by 36.2% annually from 2011 to 2016, from 43,400 to 203,200.

* The total EV/PHEV stock are projected to grow from 104,200 in 2011 to 730,700 in 2016.

Charging Stations:

* Home (level II) charging station unit sales are projected to grow by 37.7% annually from 2011 to 2016, from 25,400 to 125,900.

* Home (level II) charging station sales will grow from $239.6 million to $1.07 billion during this time period. Home charging stations are projected to account for 32.1% of the market value in 2011 and 27.0% in 2016.

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* Public (level II) charging station unit sales are projected to grow by 43.1% annually from 2011 to 2016, from 13,600 to 81,300.

* Public (level II) charging station sales will grow from $282.0 million to $1.60 billion during this time period. Level II charging stations are projected to account for 37.8% of the market value in 2011 and 40.7% in 2016. (see table 1 above)

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* Fast (level III) charging station sales will grow from $193.4 million to $1.15 billion during this time period. Level III charging stations are projected to account for 25.9% of the market in 2011 and 29.1% 2016. (see table 1 above)

* Fast (level III) charging station unit sales are projected to grow by 44.2% annually from 2011 to 2016, from 2,200 to 13,500.

EV Charging Service Users:

Annual new charging service users are projected to grow by 40.4% annually from 2011 to 2016, from 27,600 to 150,400.
The cumulative total number of charging service users is projected to grow from 39,800 in 2011 to 574,900 million in 2016.

About Airbiquity
Airbiquity is at the forefront of change in the automotive industry, integrating advances in software, communications technology and wireless services with vehicles. Its connected vehicle solutions offer automakers a flexible platform for delivering innovative applications and services that help automobiles adapt to the driver’s digital lifestyle. For more information, visit www.airbiquity.com.

Airbiquity Contact:
Amy Smith
asmithairbiquity.com
+1 206.219.2793

About Zpryme
Zpryme-powered Electric Vehicle and Smart Grid Insight practices help organizations understand their business environment, engage consumers, inspire innovation, and take action. These practices represent an evolution beyond traditional market research and consulting: combining sound fundamentals, innovative tools and methodologies, industry experience, and creative/marketing savvy to supercharge clients’ success. At Zpryme, we don’t produce tables and charts; we deliver opportunity-focused, actionable insight that is both engaging and easy-to-digest. For more information, visit www.zpryme.com.

Zpryme Contact:
infozpryme.com
+1 888.977.9631

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