With 100 million electric vehicles circulating the world in 2030, the recharging infrastructure will mean during this decade a great business opportunity for small investors and large companies. The market study carried out by IDTechEx reveals that the value of this market will reach 40,000 million dollars in these 10 years. The charging infrastructure dedicated to fleet electric vehicles, such as trucks and buses, which will only represent 5% of the total, will mean 30% of the volume of this market.
Manufacturers have achieved autonomy in their electric vehicles that completely eliminates the famous anxiety of their owners of not being able to reach their goal due to lack of energy. But no matter how many kilometers an electric vehicle can travel and no matter how large its battery is, the availability of a fast charging infrastructure is a key factor to guarantee a correct driving experience. In conclusion, the deployment of the recharge network is essential for the definitive adoption of electric vehicles by the market and for the sustainable development of a new automobile industry.
To correctly size these infrastructures, the market consultant IDTechEx has calculated the number of electric vehicles that will circulate at the end of this decade among passenger cars, buses, trucks and vans. In total, there will be more than there will be more than 100 million units. Of these, private vehicles (passenger cars, SUVs) represent the largest group, but fleets of commercial electric vehicles such as buses, trucks and vans will grow rapidly until 2030.
In its report “Charging infrastructure for electric vehicles 2020-2030”, IDTEchEx calculates that the market value of the charging infrastructure will reach $ 40 billion (more than 36,000 million euros) in 2030, representing a 24% growth in just a decade.
In comparison, they are precisely the commercial vehicles, heavier and with more voluminous batteries, that travel more kilometers, which need to recharge. Therefore require a very different charging infrastructure to that of passenger cars. This opens a great business opportunity to develop a dedicated charging infrastructure for electric buses and trucks. According to IDTechEx, although these facilities represent less than 5% of the total infrastructure, their market volume constitutes more than 30% of the total of the recharge industry.
Public charging infrastructure requires a much higher investment to what is needed in private facilities, both linked and opportunity. In the current situation, with a growing but still scarce market for electric vehicles, the return on investment is slow and the achievement of benefits should be considered in the longer term.
At the end of 2019, approximately 7.5 million plug-in vehicles were on the roads around the world. With a market share of only 2% worldwide, this technology is ready to take the lead as the most demanded for road transport: emissions regulations, prohibitions on combustion vehicles to access the center of the cities and increasing technical maturity are accelerating the market.
Large oil companies such as Shell, BP or Repsol have been proactive in recent years to ensure their future participation in this market. However, also small companies, which have managed to interest investors who see in this sector an obvious business opportunity for the future, are making a place for themselves in a market that is yet to be distributed.