The Future of Transportation is Rechargeable

Global electric vehicle sales are likely to hit 1.6 million in 2018, according to a study by Frost & Sullivan, and reported on by Forbes. That’s trending up from 1.2 million, compared to global sales in 2017. The U.S. accounted for about 200,000 of all EV sales in 2017. The bulk of sales have in China with around 600,000 in EV sales for that same year.

During the last several years, that makes the year to year growth rate 70{4be6cdb776358918d1b957292c4ee44774ecb3aae5169b1e0356bc52aeedbe56} in the U.S., for the last several years, according to a MarketWatch article. As the demand for electric vehicles increase, so will the demand for charging stations. The lack or presence of an EV charging station will be important to the market’s future.

Some consumers may not buy if there isn’t a station nearby. Estimates by Forbes say there will be anywhere from 90,000 to 120,000 charging stations, worldwide, by the end of 2018. Most of the stations will be in areas with the highest EV sales.

If the demand for charging stations and batteries follow the trend of electric vehicles sales, these number will see extreme growth in the years to come. The United States had around 5,600 charging stations in 2012, according to Wikipedia.

These were predominantly in Washington, Texas and California. In 2015, this station count grew to around 16,000 charging stations with 43,000 separate charging connections. Worldwide, it’s growing even faster.

People around the world are becoming more concerned with keeping their surroundings safe and clean. Consumers are more aware and concerned with things like air quality and emissions. The demand to address this concern has pushed advancement in the field.

Some prominent automotive companies are even making strides to produce electric vehicles exclusively, within the next 5 years. Pushing the need for charging stations along with it. Battery technology is improving, allowing trips of 200 miles or more per charge. Estimates from Wikipedia say there are 16,000 -18,000 charging stations, in the U.S., as of 2018. America’s EV count is at 800,000 and growing. Gas stations (120,000 in the U.S.) will eventually be replaced with environmentally friendly electric charging stations.

Advances in technology like batteries, are reducing the overall cost of EV ownership every year. Prices of electric vehicles are forecasted to be roughly the same price as conventional cars by 2020. That’s according to the above referenced Forbes article.

Charging stations are becoming more effective as well. Consumers can now purchase their own stations to charge their electric vehicles at home or in business applications. Modern stations can be deployed at condos or apartments as well, even if the wiring is older. High quality brands can be controlled by a smartphone and incorporated into a smart grid through Wi-Fi.

The electric vehicle market is set to reach $356.5 million by 2023, according to MarketWatch. Companies and individuals are investing in electric vehicles, batteries, and charging stations faster than ever before. MarketWatch experts estimate the actual number of electric vehicles sold in 2016 to be 777,500.