Electric Vehicle Charging Infrastructure Market to reach a market size of .5

Posted by KBV Research on September 9th, 2019

Smart charging implies that the charging cycle of electric vehicles (EVs) is adapted to both the energy system conditions and the needs of vehicles. This allows EVs to be integrated and to meet mobility requirements. The key to unleashing synergies between clean transport as well as low-carbon electricity is smart charging for electric vehicles. The load impact from EVs will be minimized and more solar and wind energy flexibility will be unlocked over the coming years.

The electric vehicle charging infrastructure

The electric vehicle charging infrastructure comprises two key areas: charging devices and charging fields. The charging device can be classified into public charging and home charging. The public charger can also list the possibilities for charging stations, fast-charging stations, and battery swapping stations. In the meantime, charging systems can be classified as conductive chargers, inductive chargers, and wireless chargers. As the integration of electric vehicles and renewable energy is continued, the electric cars charging infrastructure value chain will develop. When this arises, challenges and opportunities stem because the needs for the smarter functioning of the power grid will expand. Concepts such as demand-side management and key technologies such as energy storage will play a main part in this.

Why have electric vehicle charging infrastructures become inevitably crucial?

Rapid urbanization in countries requires smart, environmentally friendly urban mobility alternatives. Electric vehicles are a possible answer in this situation. The increase in EV use will have an influence on urban space and infrastructure growth. The government is already working on a roadmap for the establishment of support infrastructure across towns, around our homes and other important locations such as academic institutions, community parking facilities, etc., with strategies and plans for EVs in place in public and private transportation sectors.

The charging station infrastructure in the countries is the main component here. It is essential for governments and the private sector to coordinate their operations to guarantee that the government charging infrastructure is convenient, accessible, and reliable for all-electric vehicle owners. The center, the states, the authorities, and the private sector are joining forces to build a solid network of charging infrastructures.

Can efficient charging infrastructures boost the sales of electric vehicles?

For both the transport sector and the energy sector, EVs are a paradigm shift that is likely to promote decarbonisation by combining them. Although renewable power is presently very small in the transport industry, it is undergoing a core transformation, especially in the passenger road industry, with electric vehicles becoming prevalent emerging.

Smart charging implies that the EV's charging cycle is adapted to both the energy system and car users’ requirements. This allows EVs to be integrated whilst meeting mobility requirements. Smart charging is thus a way for the charging process to be optimized according to the distribution grid limitations, local renewable sources of energy supply and customer preference. Smart electric vehicle charging infrastructure enables a certain amount of charge control. It involves various pricing alternatives and technical options.

3 emerging trends in electric vehicle charging infrastructure industry:

1. New technology for electric vehicle charging represents new value for food companies

As cars started to grow quickly in popularity at the onset of the 1900s, it made sense for shops and restaurants to invest in customer parking. The benefits of investing in charging points for electric vehicles (EV) driving customers are weighed by retailers and restaurateurs a century afterward. Many nations introduce pro-electric vehicle legislation that requires all on-road cars to have a power line of 50 miles by 2040. This offers commercial food retailers and restaurants an incredible opportunity to add extra value to their customer experience and to attract new travelers. The demand for electric vehicle charging at vehicle parking facilities will also increase with the number of EV users.

2. Automotive industry targets infrastructure charging in order to speed up development

More automotive companies are investing heavily in the development of electric vehicles. This has continued to agonize consumers and forecasters over their capacity to charge these brilliant new vehicles. Before it has to be plugged in–sometimes called "range anxiety"–concerns about the length of a battery can direct a vehicle as one of the biggest barriers to an increasing share of the electric vehicles transport market. But with more notices about charging investment, there is evidence that the automotive industry is trying to solve the issue in conjunction with energy firms that want their company to diversify. Recognition of improved infrastructure charging demand has also promoted the inclusion of energy majors, occasionally in collaboration with automotive manufacturers.

3. Smart Converter Control for the charging station for electric vehicles

The future means of transportation are intended for electric vehicles (EVs) and the levels of energy efficiency are significantly higher than those of conventional petrol or diesel vehicles. The sustainability of electric vehicles is justified only if the electricity used to charge these electric vehicles is generated by a sustainable energy source and not fossil fuel or carbon. The PV, charging docks and energy storage device (ESD) are integrated with the grid system by a multiport converter. A sophisticated energy management system, which allows the integrated particle swarm optimization to be adapted for an effective switching between sources, is offered to regulate bidirectional flow between sources.

The future of electric vehicles with charging infrastructure

The electric vehicle charging infrastructure market progress relies on the widespread acceptance of electric cars still depends on infrastructure developments. These innovations include deploying electric vehicle charging infrastructure and stations to detect and reduce the time it takes to charge the battery. There has been a dramatic increase in popularity among all-electric cars as well as hybrid electric vehicles (HEVs) and plug-ins. Divided on the basis of societies, the use of electric vehicles reduces the dependency and contribution of fossil fuels to global warming.