Are Electric Vehicle Chargers the Next Growth Industry?

Are electric vehicle chargers the next growth industry?
Are electric vehicle chargers the next growth industry?

In many ways, electric car technology jumped to far too quickly leaving behind electric vehicle charging systems which for many years have been totally inadequate. There has been major concern amongst motorists around the world that even the most technologically advanced electric vehicle would be unreliable if you are not able to charge it when and where you wanted. This has held the electric car industry for some time, although thankfully governments around the world are now focusing upon electric car charging networks.

This then begs the question - could electric car chargers be the next growth industry?

New technology on the way

There is no doubt that technology relating to electric vehicle charging networks has improved dramatically even over last couple of years. We now have smart charging systems, innovative ideas such as using street lamps as charging units as well as some significant developments on the electric car battery front. While there is obviously going to be renewed interest in electric vehicles going forward, especially with more electric vehicle charging networks on the horizon, could the charging industry be the next big thing?

Non-car specific

The key to making big money in the EV charging industry is to make sure that each electric vehicle charging station can service the largest range of electric vehicles. This would ensure maximum efficiency, maximum penetration, and also maximum return on investment. Whether these systems will service different vehicles using different leads or different connectors is neither here nor there, it is the ability to service different types of vehicles which will be key.

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Charging protocols

Recent years have seen an ongoing battle between various electric vehicle groups keen on promoting a number of different recharging protocols to suit their own particular needs. This battle is still ongoing, very similar to the VHS and Betamax video battle, although very shortly we will no doubt see the emergence of the long-term winner. Once an individual recharging protocol is adopted by the industry then this effectively creates a barrier to entry for other systems in the longer term.

Commercial and domestic applications

While there is obviously a need to create a commercial network of recharging stations in different countries and indeed around the world, domestic applications are also now coming to the fore. We have even seen some local authorities enshrining in law that new properties will need to accommodate a domestic electric car charging station as part of their property regulations. Whether or not this is overkill is a matter for debate but it will certainly ensure there are more than sufficient electric car charging stations in years to come.

Survival of the fittest

We have seen a number of electric car charging companies emerge in different countries around the world fighting to make their system number one in the industry. It is without doubt a battle which will have its victims and will have its victors, with companies ploughing millions upon millions of dollars into their technology. There has even been talk of some electric vehicle charging companies floating their wares on the UK stock market which would perhaps be the ultimate acceptance by the general public.