Electrical Vehicle Charging Infrastructure Poised for Rapid Expansion in Asia-Pacific, Finds Frost & Sullivan
- Ongoing research to develop low-cost and quick charging facilities offer huge market potential
KUALA LUMPUR, Malaysia, April 23, 2013 /PRNewswire/ -- The increasing emphasis on reducing carbon dioxide emissions and ensuring that electrical vehicles (EVs) constitute 20 percent of the total vehicles on road by 2030 in several Asia-Pacific countries will lead to the expansion of the EV charging infrastructure market in the region. Tax exemptions and Government incentives on EVs and EV charging stations will further encourage the market's rapid growth.
New analysis from Frost & Sullivan (http://www.energy.frost.com), Asia-Pacific Electrical Vehicle Charging Infrastructure Market, finds that the market's installation base touched 45,486 units in 2012 and estimates this to reach 1,382,494 units by 2020. The research covers level 1, level 2, direct current (DC), and induction chargers.
"Subsidies, free parking facilities, and access to special lanes promote the sale of EVs, thereby requiring investments in enhancing EV charging infrastructure," said Frost & Sullivan Energy & Environmental Research Analyst Avanthika Satheesh.P. "The testing of EV chargers in smart grid pilot projects by Japan, South Korea and Singapore to allow off-peak, vehicle-to-home, and vehicle-to-grid charging will further boost market development."
While the availability of devices with different charging times offers end users flexibility, the long charging periods of level 1 and level 2 chargers dissuade potential customers. The rapid DC charger takes the least time, but its hardware and installation costs are high. The huge distance between charging stations, especially in large countries like Australia, also pose a challenge for customers trying to locate a station before their vehicles run out of power.
To counter these concerns, Governments have invested in EV test-bed programs and battery swapping stations in Asia-Pacific. These stations are designed to replace a car's battery with a fully charged one within the same time usually spent at a gas station. Australia has initiated level 2 and DC charging trial test beds to analyze the impact of different chargers on the power grid.
"Japan, South Korea and Taiwan are conducting research on faster charging systems at lower costs, and will commercialize the resultant products after 2015," noted Satheesh. "Induction-based wireless chargers are also under testing, and wind energy-powered chargers will gain acceptance in Australia by 2020."
Subscription-based services, which increase customer retention, cost recovery, and brand value, are likely to become popular in the region.
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Asia-Pacific Electrical Vehicle Charging Infrastructure Market is part of the Power Supplies & Batteries Growth Partnership Service program. Frost & Sullivan's related research services include: European Electrical Vehicle Charging Infrastructure Market, Direct Current Power Systems Markets, and Asia-Pacific Data Center Cooling Solutions Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Asia-Pacific Electrical Vehicle Charging Infrastructure Market
P6A0-27
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: djeremiah@frost.com
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com
Jessie Loh
Corporate Communications – Asia Pacific
P: +65 6890 0942
F: +65 6890 0988
E: jessie.loh@frost.com
SOURCE Frost & Sullivan
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