Fleet electrification is crucial to reaching sustainability goals. It involves the transition of fleets from internal combustion engines to electric engines. The charging requirements of the fleet are evaluated to identify potential charging opportunities either en route at public charging stations or at depots through installed chargers.
Access to public charging is paramount for fleets in their electrification decision because of its many benefits, including zero upfront capital expenditure. The availability and accessibility of suitable public charger stations vary greatly by state and by city of operation. The distance traveled to access a suitable connector in a public charger station always depends on several factors, such as the electric vehicle’s connector type and its preferred connector power, considering the segment of operation, the battery capacity, and the opportunity time available for the truck to charge.
Connected solutions that include navigation services to access available public charging stations with suitable connector types and preferred power capacity can reduce the dead miles traveled for charging. This Frost & Sullivan analysis provides insights into the readiness of US states across connector types, the distance traveled by eLCVs to access charger stations across selected states and cities, and the impact of connected solutions across key segments.
Author: Aaron Roberts Manoharan
The Impact of the Top 3 Strategic Imperatives on Connected Solutions in Public Electric Vehicle Charging
Transformative Megatrends
Why
- The pace of transition from fossil-fuel-based automotive powertrains to low-emission or zero-emission powertrains is increasing rapidly.
- A fast transition is a main economic goal for several countries looking to achieve a cleaner and safer environment.
Frost Perspective
- Public charging is an effective measure in the transition from ICE vehicles to EVs where fleets are not required to invest a high initial CAPEX.
- Public charging is a requisite for EV fleet operation in certain routes because current EVs have low battery capacities and high battery discharge.
Competitive Intensity
Why
- EV ecosystem players—including OEMs and CPOs—have announced large investments in public charging infrastructure installation.
- Through partnerships with requisite stakeholders, EV ecosystem players have diversified their product portfolios to offer EV-specific services, including public charging.
Frost Perspective
- Range anxiety would subside thanks to easy access to public charging stations from a more developed public charging infrastructure.
- Subscription revenue through public charging services is a diversified source of revenue for traditional players in the market like OEMs.
Customer Value Chain Compression
Why
- Partnerships enabling single pane of glass operation have taken priority in the fleet electrification journey.
- Interoperability across the value chain of public charging networks is enabling fleet operators a single window for managing their overall charging requirements.
Frost Perspective
- Public charging services will integrate into navigation services as a standard offering.
- EV ecosystem players will gain a competitive edge by offering their EV services associated with public charging, including expense tracking and payment management.
Research Scope
| Research Aspect | Details |
|---|---|
| Base Year | 2023 |
| Market/Segment/ Program Area | Powertrain
|
| Geographic Scope |
|
Growth Drivers
| Driver |
|---|
| Investments in public charging infrastructure: Several players in the EV ecosystem, including OEMs, have announced large investments in public charging infrastructure installation. Public charger stations will be more easily and quickly accessible. |
| Integrated charging: Fleets benefit from partnerships with technology solution providers in the EV ecosystem that grant them access to charging information over a single pane of glass, including information on users searching for public charging stations. |
| Easy-to-use connected solutions in mixed fleet operations: Technology solution providers enable fleet operators to manage ICE vehicles and EVs through a single platform that grants access to vehicle insights and fleet fueling and charging requirements. |
| Public charging networks interoperability: EV users that rely on public charging benefit from network interoperability because it allows them to access multi-branded stations across cities and states with a single membership. |
Growth Restraints
Public charging station low availability:
Public charging stations can have high waiting times during peak demand hours with varying station-connector ratios. EVs that need specific power capacities make accessibility more complex.
Public charging costs:
Public charging is more expensive than charging at a privately installed depot station. This trend will persist, with CPOs breaking even in the medium to long term.
Inconsistency in charging experience:
Charging an EV can be a drastically different experience between providers because it depends on the CPO’s operational efficiency, given that it manages the energy demand and supply.
High dead miles traveled for charging:
Although connected solutions provide navigation for public charging, the dead miles traveled to access charging stations could be high in the current scenario because public charging is still growing and will mature in the medium to long term.
Why is it Increasingly Difficult to Grow?
The Strategic Imperative 8™
The Impact of the Top 3 Strategic Imperatives on Connected Solutions in Public Electric Vehicle Charging
Growth Opportunities Fuel the Growth Pipeline Engine™
Connected Solutions in Public Charging Navigation for eLCV Operation in the United States
Key Growth Opportunities by Industry
eLCV Connector Types in the United States
Growth Drivers
Growth Restraints
An Overview of the Fleet Electrification Journey
Public and Depot Charging
Public Charging Stations Segments of Operation
Factor Impact in Public Charging Station Access by Segment
Research Scope
Definitions
An 8 Step Assessment Framework for EV Fleet Public Charging
Readiness Score Parameters for Fleets Operating eLCVs
Readiness Score Parameters for CPOs Catering to eLCVs
State Readiness Score for eLCVs Featuring SAE J1772 Connectors
State Readiness Score for eLCVs with NACS Connectors
State Readiness Score for eLCVs with CCS Connectors
Charger-distance Scores for eLCVs with SAE J1772 Connectors—Texas
Charger-distance Scores for eLCVs with SAE J1772 Connectors—California
Charger-distance Scores for eLCVs with SAE J1772 Connectors—Florida
Charger-distance Scores for eLCVs with SAE J1772 Connectors—New York
Charger-distance Scores for eLCVs with SAE J1772 Connectors—Ohio
Charger-distance Scores for eLCVs with NACS Connectors—Texas
Charger-distance Scores for eLCVs with NACS Connectors—California
Charger-distance Scores for eLCVs with NACS Connectors—Florida
Charger-distance Scores for eLCVs with NACS Connectors—New York
Charger-distance Scores for eLCVs with NACS Connectors—Ohio
Charger-distance Scores for eLCVs with CCS Connectors—Texas
Charger-distance Scores for eLCVs with CCS Connectors—California
Charger-distance Scores for eLCVs with CCS Connectors—Florida
Charger-distance Scores for eLCVs with CCS Connectors—New York
Charger-distance Scores for eLCVs with CCS Connectors—Ohio
Dead Mile Costs for eLCV Operation in the Construction and Jobsite Segment
Dead Mile Costs for eLCV Operation in the Passenger Segment
Dead Mile Costs for eLCV Operation in the Delivery Segment
Growth Opportunities for eLCVs with SAE J1772 Connectors per State
Growth Opportunities for eLCVs with NACS Connectors per State
Growth Opportunities for eLCVs with CCS Connectors per State
Growth Opportunities for eLCVs with SAE J1772 Connectors per City
Growth Opportunities for eLCVs with NACS Connectors per City
Growth Opportunities for eLCVs with CCS Connectors per City
Growth Opportunity 1—Expansion into Newer Segments and Diverse Fleet Profiles to Gain Market Share from Early Adoption
Growth Opportunity 1—Expansion into Newer Segments and Diverse Fleet Profiles to Gain Market Share from Early Adoption (continued)
Growth Opportunity 2—Collaboration to Expand the Availability and Accessibility of Public Charging Stations
Growth Opportunity 2—Collaboration to Expand the Availability and Accessibility of Public Charging Stations (continued)
Growth Opportunity 3—Tiered Packaging of Connected Solutions to Expand Revenue Opportunities across Segments
Growth Opportunity 3—Tiered Packaging of Connected Solutions to Expand Revenue Opportunities across Segments (continued)
Best Practices Recognition
Frost Radar
Benefits and Impacts of Growth Opportunities
Next Steps
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Abbreviations and Acronyms
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| Deliverable Type | Market Research |
|---|---|
| Author | Aaron Roberts Manoharan |
| Industries | Automotive |
| No Index | No |
| Is Prebook | No |
| Keyword 1 | Electric Trucks Market |
| Keyword 2 | Market Trends Electric Trucks |
| Keyword 3 | Connected Solutions Trucks |
| Podcast | No |
| WIP Number | PFI9-01-00-00-00 |
Strategic Analysis of Dead Miles in Electric Trucks Using Connected Solutions across Key US States
Connected Solutions Significantly Benefit Dead Mile Reduction in eLCVs with NACS and CCS Connectors Harboring Enormous Growth Potential
03-May-2024
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