Electric Vehicle Charging is the Next Billion-Dollar Market

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Electric Vehicle Charging is the Next Billion-Dollar Market
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In 2022, a new asset class will emerge to support EV charging infrastructure. Via WIREDUK

The rate of adoption of electric passenger vehicles has skyrocketed in recent years and will only increase. In the US, the federal administration is pushing for electric vehicles to make up 50 per cent of all new car sales by 2030. The UK target is even higher, with a proposed ban by then on all new petrol and diesel van and car sales. Electrification of medium- and heavy-goods vehicles is not far behind and is following a steeper trajectory.

In 2022, we will see the beginnings of a significant deployment of electric medium-goods vehicles, with heavy-good vehicles to follow soon after. However, there will still be a significant gap between delivering the vehicles and having the widespread ability to charge them. Fleet-charging equipment will also be different. Smaller charging units have become a familiar sight in motorway service stations and city roadsides – taking energy directly from the grid and used mostly during the day for quick power-ups.

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