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Strategy Briefing
Opportunities in the US Electric Vehicle Charging Market for Retailers
Oct 2017
US$1,325Added to Cart
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About This Report
New Report Guarantee
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!
This report focuses on opportunities for retailers in the United States to invest in installing fast-charging electric vehicle charging stations. Electric cars using fast-charging stations take 30-45 minutes to reach a nearly full charge. The short charge time and high income demographics of electric car buyers in the United States represents an opportunity for retailers to invest in infrastructure now to attract these customers for the long term.
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Overview
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
The number of electricvehicles (EVs) in the US israpidly increasing
According to the US Department of Energy, fewer than 20,000 plug-in hybrid(PHEV) or all-electric vehicles (EVs) were sold in 2011; by 2015, this numberhad risen to over 110,000. 72,000 of which were all-electric.
Buyers of today’s EVs arehigh-income Americans
The average annual household income of an EV buyer is at least USD150,000(double the average household income of the average new car buyer),according to TrueCar
Some automakers arebeginning to offer affordableEVs to the mass market
Automakers – such as Tesla with its new Model 3 (priced from USD35,000before incentives) – are beginning to offer high-volume all-electric vehicles tothe mass market with long-range batteries.
An efficient fast chargingnetwork is a crucial part ofEV mass adoption
Fast chargers currently comprise less than 15% of total public stations in theUS. Their convenience (30-45 minutes for an 80% charge) is essential indense urban areas, or when on long-distance journeys where drivers do nothave access to a dedicated charging port or time to wait for slower alternatives
Retailers best suited tohouse electric vehiclechargers meet threecharacteristics
Automakers’ investment in EV charging stations will likely come in the longterm in the US. In the short term, businesses with the following characteristicsshould invest in EV chargers: ample parking spots; urban or inter-urbanlocations; stable or growing in-store demand from wealthy consumers.
Investing in EV chargingstations will allow retailersto secure an early-moveradvantage, and can be aprofitable investment
With the exception of Tesla, no major automaker has backed significantelectrification initiatives in the US; neither has the US government. Privatecompanies are left to pick up the slack, which means that the most primecharging locations remain available. Retailers that invest now will benefit froman early-mover advantage and secure investments with a positive long-termreturn
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Introduction
Scope
Key findings
Market Landscape: Automakers, Charger Manufacturers, and the Government
Electrification quickly increasing among global automakers
Three electric vehicle charging companies dominate the US market
State and local tax credits can partially offset installation costs
Market landscape signals abundant opportunities for private businesses
Target Retail Types: Warehouse Clubs, Grocery Stores, High-end Retail
Warehouse clubs among few large retail types to exhibit in-store growth
Business Case: Costco
Costco attracts the affluent and operates in eco-conscious California
Grocery stores can sustain in-store sales by catering to EV buyers
High-end malls offer retail experiences that cater to wealthy EV buyers
Key Takeaways: What factors strike the right balance
Case Study: Tesla Superchargers
Case Study: Tesla Superchargers
Tesla’s strategic placement of Superchargers in the US
Opportunities for Non-retailers
Opportunities exist for ancillary services and alternative Locations
Demand among urbanites can be met by a growing trend: food halls
Risks
Risk: What if new charging technology renders current stations obsolete?
Risk: What if fuel prices stay low or environmental regulations change?
Outlook
Long-term predictions: Automakers and EV infrastructure investment
Now is a prime time for private businesses to invest in EV infrastructure
Appendix: How Electric Vehicles Charge
Primer: How electric vehicles charge
Fast chargers’ size and expense make high-traffic, public locations ideal
Installation costs vary widely by charger type, but so does performance
Why buy this report?
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.