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UK EV charge point market set for 29% annual growth despite COVID-19

EV Charging Parking

UK-based energy market research consultancy, Delta-EE, released its UK electric vehicle (EV) charger forecast, showing that the market is set for 29% year-on-year growth in charge point sales through 2030, despite COVID-19’s impact on new vehicle sales.

“We expect a significant drop in new vehicle sales in 2020 due to COVID-19 – as much as a 30% reduction. But we believe charge point installations will continue to grow across all segments, backed by renewed government funding. As we know, availability of charge points is one of the key barriers to widespread EV adoption,” said John Murray, Head of EVs at Delta-EE.

Yet the research reveals the share of charge points installed in public locations versus home and workplaces will stay relatively level, with rapid chargers still accounting for less than 2% of on-street chargers, by 2030.

Rapid chargers in destination locations such as shopping malls and hotels will move from a market share of 18% today to 6% in 2030 due to expected growth in the number of slower chargers, says the company.

The research also covers the UK’s EV charging market. By 2030, is it estimated that 71% of charge points will still be installed at home. This will have decreased by 5% over the decade as EV owners will not all have access to off-street parking. Delta EE expects a 7% growth in workplace charging by 2030, as it acts as substitute for home charging.

Murray continues, “BP recently revealed through research in France, Germany, Spain and the UK that the availability of charge points was second only to price as the most significant barrier to EV adoption.”

“While workplace charging currently looks set for the biggest growth, COVID-19 may also have a lasting impact on working practices and mobility habits. The reality is that for people with EVs, and no access to off-street parking, they will need to charge their vehicles somehow, and workplace charging will still play a very important role in this,” Murray concludes.