Households with One Electric Vehicle Could Consume 37% More Daily Energy – Underscoring the Need for Load-Balancing Technologies


Governments are setting aggressive goals to ban sales of Internal Combustion Engine (ICE) vehicles, and there has been a growing commitment by carmakers to achieve net zero goals. However, little attention has been given to developing a smart and flexible energy system. According to global technology intelligence firm ABI Research, households with one Electric Vehicle (EV) could consume 37% more daily energy. Most importantly, EVs will shift peak demand in households from 4-8 kWh to 11 kWh, creating new loads, shapes, and peaks not previously considered in resource plans. Combined with the increasing use of intermittent renewable energy, higher EV adoption will increase the risks of electricity outages in peak periods because the available energy supply will be insufficient to satisfy the demand. On the upside, a wide range of load-balancing solutions can promptly provide the required grid flexibility to support vehicle electrification.

“While many regions have enough electrical energy available to meet the future EV demand, energy supply is not always available when needed. Places like TexasCalifornia, and China are already facing grid imbalances caused by increased electricity usage in peak times. California, for example, witnessed an all-time electrical grid peak load record in 2022, reaching 55,061 Megawatts (MW). That is 6,155 Kilowatts (kW) above the average peak over the past 20 years and enough to power 4.6 million houses,” explains James Hodgson, Smart Mobility and Automotive Principal Analyst at ABI Research. “In the face of these facts, OEMs, end consumers, governments, grid operators, utilities, and other energy supply and distribution stakeholders must work together to enable a smooth transition from ICE to EVs.”

Because re-energizing the existing electrical infrastructure is resource and time intensive, the industry is exploring alternative solutions with a quicker turnaround. Smart charging is, by far, the least complex and most effective tool. Provided chargers are connected to charging operators, strategies such as dynamic power sharing – the ability to control the energy available to plugged-in EVs preventing sites from exceeding their maximum energy capacity – and dynamic pricing – the ability to influence customer behavior by altering price per kWh based on utilization – can easily be deployed with significant results. When chargers and vehicles are connected to the grid, users can sign up for demand response programs and get energy bill rebates or other financial incentives by shifting charging time from peak to off-peak hours or allowing utilities to remotely control the time and rate that plugged EVs are charged. According to OVO Energy, residential flexibility can generate US$6.8 billion in cost savings for the whole system in the UK.

Combining smart charging approaches with bidirectional energy flow opens the possibility of V2G applications, in which EV batteries store excess energy during off-peak times and become energy resources during peak times. Activities by companies like Nuvve show that V2G has a clear ROI for commercial vehicle fleets, especially school buses, but the business model in the consumer segment is still weak. Nevertheless, Kaluza reports that end consumers enrolled in its V2G trial earned an average of £420 a year by selling surplus energy back to the grid. Other effective EV charging optimization solutions include battery-buffered chargers such as ADS-TEC Energy‘s ChargeBox, energy storage, microgrids, charging hubs, and swappable batteries like NIO‘s.

“As EV adoption continues to grow, so will the reliance on electrical energy, and the significant peak consumption increase is worrying. Therefore, ecosystem players must collaborate to deploy tools to balance the grid and develop and adopt standards to make these tools widely available to end consumers,” Hodgson concludes.

These findings are from ABI Research’s Electric Vehicle Smart Charging Platforms application analysis report. This report is part of the company’s Smart Mobility & Automotive research service, which includes research, data, and ABI Insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific technology.


Electric Vehicle Supply Equipment (EVSE) Market to Reach $20.84 Bn, Globally, by 2030 at 25.9% CAGR: Allied Market Research


Allied Market Research published a report, titled, Electric Vehicle Supply Equipment (EVSE) Market by Application (Residential and Commercial) and Type (Level 1, Level 2, and Level 3): Global Opportunity Analysis and Industry Forecast, 2021–2030.” According to the report, the global electric vehicle supply equipment industry $2.13 billion in 2020, and is expected to reach $20.84 billion by 2030, witnessing a CAGR of 25.9% from 2021 to 2030.

Drivers, Restraints, and Opportunities

Increase in demand for electric vehicles, supportive government initiatives for development of electric vehicle charging infrastructure, and demand for low-emission and fuel-efficient vehicles drive the growth of the global electric vehicle supply equipment market. However, lack of standardization of EV charging and expensive nature of electric vehicle charging infrastructure hinder the market growth. On the other hand, development of wireless charging technology and incorporation of vehicle-to-grid (V2g) EV charging stations present new opportunities in the coming years.

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Covid-19 Scenario

  • The Covid-19 pandemic made a detrimental impact on the automotive sector. Manufacturing activities of electric vehicle supply equipment halted partially or completely due to lockdown measures implemented across many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented challenges in manufacturing activities.
  • The investments for the R&D activities and adoption of new technologies in electric vehicle and electric vehicle charging sector have been either halted or rolled down to cope with the disrupted revenue streams and lowered demand.
  • The ban on export activities in China led to reduced procurement of automotive parts, huge disruptions across Europe, and shutting down of assembly plants in the U.S.

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The Level 2 segment to continue its leadership status during the forecast period

Based on type, the level 2 segment contributed to the highest share in 2020, accounting for more than 87% of the global electric vehicle supply equipment market, and is expected to continue its leadership status during the forecast period. This is due to offering of faster-charging speed as compared to level 1 charging and excellent cost to performance ratio. However, the level 3 segment is projected to witness the highest CAGR of 34.1% from 2021 to 2030, owing to the fastest type of charging available to date.

The residential segment to maintain its lead in terms of revenue during the forecast period

Based on application, the residential segment contributed to the largest share in 2020, accounting for more than four-fifths of the global electric vehicle supply equipment market, and is projected to maintain its lead in terms of revenue during the forecast period. This is attributed to adoption of electric vehicles as an alternative to fuel-operated vehicles along with supportive government initiatives to lower down carbon emissions. However, the commercial segment is expected to portray the largest CAGR of 28.8% from 2021 to 2030. This is due to rapid rise in requirement for fast charging solutions for charging vehicles for a longer range in less time.

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North America to grow at the fastest CACR during the forecast period

Based on region, North America is estimated to witness the fastest CAGR of 29.9% from 2021 to 2030, owing to rapid increase of electric vehicle charging infrastructure in the region. However, Asia-Pacific held the largest EVSE market share in 2020, contributing to more than half of the global electric vehicle supply equipment market, and is expected to maintain its dominance by 2030. This is due to rapid surge of electric vehicle sales in the region.

Leading Market Players

  • Abb Ltd.
  • BP Chargemaster
  • Chargepoint Holdings, Inc.
  • Delta Electronics, Inc.
  • Eaton Corporation Plc
  • Leviton Manufacturing Co., Inc.
  • Schneider Electric
  • Siemens AG
  • Tesla
  • Webasto Group

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Electric Vehicle Fluids Market worth $8,644 million by 2030 – Exclusive Report by MarketsandMarkets™


According to the new market research report “Electric Vehicle Fluids Market by Product Type (Engine oil, Coolants, Transmission Fluids, and Greases), Vehicle type (On-highway vehicle, Off-highway vehicle), Propulsion Type (Hybrid EV, Battery EV), Fill Type, and Region – Global Forecast to 2030″, published by MarketsandMarkets™, the Electric Vehicle Fluids market is projected to reach USD 8,644 million by 2030, at a CAGR of 31.2% from USD 749 million in 2021. Increasing demand for electric vehicles is the major driver of the Electric Vehicle Fluids market. A specific fluid requirement in EVs is also one of the other driving factors for electric vehicle fluids as an ICE’s motor differs greatly from EV motors and thus, needs fluids, which cater to totally different functions than that in the n the ICEs. With the growing concern over tailpipe emissions and their harmful effects on the environment, stringent standards for carbon dioxide and pollutants such as nitrogen oxide, unburned hydrocarbons, and particulates have been put in place, resulting in hybrid and full EVs no longer being seen as uncommon, but the standard for the future.

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Electric vehicle fluids are substances or materials, which are used for lubricating and improving the thermal performance of electric vehicles. They are manufactured using base oils and additives with respect to different applications. They perform different functions in electric vehicles, such as regulating the battery and other electronic components, temperature, and noise and vibration reduction. The most commonly used electric vehicle fluids include engine oil, coolants, transmission fluids, greases, and brake fluids, among others.

The hybrid EV segment accounted for the larger market share in 2020; however, the Battery EV segment is expected to account for the larger share by 2030. Europe is the largest electric vehicle fluids market, followed by APAC and North America. Stringent mandates by governments are a major opportunity for electric vehicle fluids manufacturers. Emission of carbon from ICE vehicles is now treated as a significant threat by governments in many countries. Thus, the gradual tightening of fuel economy and tailpipe CO2 standards have augmented the role of EVs to meet the standards. Government initiatives pertaining to EVs, such as investment in infrastructure, tax rebates, and others, also act as a major opportunity for the growth of the electric vehicles and the electric vehicle fluids market.

The hybrid EV segment accounted for the larger market share in 2020 during the forecast period”

Battery EVs do not require a gasoline engine, which requires fuel and routine maintenance. Though battery EVs require less EV fluids than the hybrid ones, the large-scale production of battery EVs in comparison to Hybrid EVs is expected to lead to the demand for EV fluids during the forecast period. The prices of batteries for EVs are decreasing due to the advancements in technology, which are expected to result in the reduced overall prices of BEVs

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Europe accounted for the largest market share in Electric Vehicles Fluid market in 2020, in terms of value.”

Europe led the electric vehicle fluids market with a share of 44.7%, in terms of value, in 2020 due to high prices and the high number of hybrid vehicles produced and sold in Europe, which requires more electric vehicle fluids than battery vehicle fluids. The high price of engine oil in comparison to other fluids, which are used in hybrid electric vehicles, is one of the major reasons for the largest market share of Europe in 2020. APAC is expected to be the fastest-growing market by 2030, mainly due to the expected high demand for electric vehicles in the region and the higher number of electric vehicles available for service fill during the forecast period. The High demand for electric vehicles in Europe due to government regulations and investments, subsidies, tax rebates, and others are supporting the growth of electric vehicle fluids in the region.

The major electric vehicle fluids market in Europe includes GermanyFrance, UK, ItalyRussiaNetherlandsNorway, and Sweden among others. Europe has stringent emission regulation standards. The governments of the European countries are providing significant incentives to promote electric vehicles. As a result, the demand for electric vehicles has increased significantly in the region. The region is home to manufacturers such as Renault, Audi, BMW, and Mercedes. Europe has set a very ambitious goal of reducing 80% CO2 emissions by 2050 and has created a roadmap for the same. The governments of various countries in Europe are subsidizing electric vehicle infrastructure, and the focus is expected to continue to be on electric vehicles in the long run.

The electric vehicle fluids market has a high degree of competition. The key players in this market are Royal Dutch Shell plc (Netherlands), ExxonMobil Corporation (US), BP plc. (UK), TotalEnergies SE (France), FUCHS Petrolub AG (Germany), Petronas (Malaysia), ENEOS Corporation (Japan), Repsol S.A. (Spain), Valvoline Inc. (US), and PTT (Thailand), among others. The leading players are focusing on various strategic initiatives such as new product launches and expansions to retain their position in the market.

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Electric Vehicle Component Market in India To Boom in Coming Years: P&S Intelligence


The Indian electric vehicle component market is growing on account of the declining prices of the components and increasing adoption of EVs, driven by the rising environmental concerns and strong government support. Subsequently, the industry, which was worth $536.1 million in 2019, is projected to expand at a robust 22.1% CAGR during 2020–2030, according to the market research study published by P&S Intelligence. Battery cells and packs, battery management systems (BMS), electric motors, thermal management systems, DC–DC converters, and charging kits are just some of the components that go into an EV.

The market, on the basis of vehicle type, is divided into three-wheeler, two-wheeler, commercial vehicle, and passenger car. Among these, the three-wheeler category held the largest share in the Indian electric vehicle component market in 2019, on account of the widespread usage of e-rickshaws in the country. As these automobiles cover more than 100 km every day, the demand for replacement components for these is quite high.

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The Indian electric vehicle component market for passenger cars is categorized into motor, battery pack, electric vehicle supply equipment (EVSE), controller, thermal management system, high-voltage cable, vehicle interface control module (VCIM), power distribution module (PDM), and DC–DC converter. Throughout the forecast period, the industry would be dominated by the battery pack category, as it is the most expensive electric car component. With the battery pack cost predicted to reduce to $160 per kilowatt-hour (kWh) by 2030 from $230 per kWh in 2019, the sales of battery packs would rise.

A key trend in the industry is the increasing sales of EVs with higher battery capacities. As two-wheelers and e-rickshaws have dominated the Indian EV market till now, the demand for lower-capacity battery packs had been higher. But now, with the rising sales of electric cars, commercial vehicles, and longer-range scooters and motorcycles, the demand for higher-capacity battery packs is surging in the nation. For long-distance operation of EVs, it is important that the need for recharging the batteries is as less as possible, which is why they need batteries with a higher capacity.

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The most significant driver for the Indian electric vehicle component market is the rising adoption of EVs. In 2019, 2,000 electric passenger cars, 32.4 thousand electric two-wheelers, and 447.7 thousand electric three-wheelers were sold in the country, thus creating a high demand for original equipment manufacturer (OEM) and aftermarket components. As the transportation industry is responsible for around 40% of India’s greenhouse gas (GHG) emissions, the government is offering subsidies, tax rebates, and other incentives to those producing and purchasing EVs.

Similarly, the declining prices of the components are also leading to the increasing demand for them in the nation. For instance, the cost of the battery is projected to decrease by up to 30% between 2018 and 2025, and with batteries being the reason EVs are costly, their declining prices would make such automobiles affordable for the masses. In the same vein, during the said period, controllers, motors, thermal management systems, EVSE, VCIMs, PDMs, DC–DC converters, and high-voltage cables would become 23%, 24%, 9%, 60%, 8.6%, 6.5%,21%, and 8.5% cheaper, respectively.

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The Indian electric vehicle component market is divided into Uttar Pradesh, Madhya Pradesh, West Bengal, Delhi, Bihar, Rajasthan, Chhattisgarh, Haryana, Punjab, Uttarakhand, Assam, Jharkhand, Gujarat, Tripura, Tamil Nadu, Maharashtra, Kerala, Andhra Pradesh, Telangana, Karnataka, and Rest of India, based on state. Among these, the largest share in the industry was held by Uttar Pradesh in 2019, as it is the most-populated state and the largest market for three-wheelers and two-wheelers in the nation. The forecast period scenario in different vehicle segments would be different across the states.

Therefore, with the increasing production and sale of EVs, the demand for OEM and aftermarket components, respectively, will continue increasing in India.