Analyst Insight: Market Developments in EV Charging Technologies

The EV charging technology market is fast-moving and influenced by a variety of stakeholders such as automakers, EV supply equipment (EVSE) manufacturers and operators, national and local governments, consumers, and utilities, each with their own set of priorities.

Many automakers have renewed their focus on hybrid vehicles and delayed electrification targets due in part to weak customer demand. At the same time, they have consolidated around the J3400 charging standard in North America. These developments provide an opportunity for the EV charging market to build out a cohesive charging ecosystem to support future EV adoption. However, the potential impact on the electrical grid from increased EVSE deployment will require innovative solutions. EVSE site developers and operators will need to work with utilities to overcome grid constraints at public charging locations, leveraging emerging technologies that have the potential to avoid grid upgrades. The ability to use EVs as distributed energy resources through bidirectionality can also help minimize the impact of EVs on the grid.

This Analyst Insight focuses on major market trends that will affect the growth and deployment of various EV charging technologies. Drawing on the latest version of Guidehouse Insights’ EV Charging Technologies Forecast Database, the report weaves market data and categorizations into an overview of the current EV charging technology landscape, including chargers of various speeds and formats, as well as the emergence of bidirectional, or vehicle-to-grid, charging. In all regions, charging is expected to expand rapidly as the EV market grows, creating different opportunities for various stakeholders.