Press release: Industry trends 2024
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Industry trends 2024
Future matters and Juice Technology look to the coming years
Lars Thomsen – futurologist, founder of the “future matters” think tank and member of the board of directors of Juice Technology AG – gives new insights into current developments in the electromobility market. He concludes that in just one year, one in two newly registered vehicles will be equipped with an electric motor. He also predicts that grid-friendly charging will continue to gain in importance.
2023 was the year of change. The market for e-mobility is becoming increasingly professional in nature. Where electric vehicles were previously purchased primarily by private customers, new growth segments are emerging for company and fleet vehicles as well is in the commercial sector. These new market segments offer new manufacturers and charging technology specialists a wealth of opportunities. And this development goes hand-in-hand with a range of new applications that need to be covered and user requirements that have to be met.
Lars Thomsen predicts that the market share of electric vehicles will continue to grow progressively in 2024. Due to the market distortions, supply chain problems and energy price fluctuations of the last two years, overall development is somewhat subdued. However, the dampening effect caused by rising interest rates and inflation has most likely bottomed out. The cautious attitude towards investments is now limited to individual regional sales markets and distribution channels. From a global perspective, electromobility continues to gain in momentum.
According to future matters, the only threat to the advancement of electromobility would be unfavourable political measures or intensive lobbying – for example, on the part of the oil and gas industry – with the specific aim of hindering or slowing down developments.
Four trends for the coming years
Falling electricity prices and increasing availability of variable electricity tariffs are expected in the near future, which is attributable to the growing proportion of renewable energies in the electricity mix. This will further strengthen the advantage of electromobility over other forms of propulsion.
As a result, the share of electric vehicles (BEVs and PHEVs) in new registrations in both Europe and the USA is expected to rise to 50% by 2025 and to 80% by 2030. This trend is primarily driven by the increasing availability of affordable BEVs from new Chinese and other Asian and US-based EV manufacturers.
BEVs are also becoming increasingly important for commercial fleets. Their share in new registrations will increase from 10 to 15% to over 45% by the end of 2025. This trend, which comprises all segments of corporate fleets – from company cars to commercial vehicles and rental cars – is based on both ecological (ESG commitments and CO2 targets) and economic considerations (cost savings due to lower TCO). It is expected that more than 400,000 new electric vehicles will be added to rental and company car fleets in the next two years alone.
In the face of these developments, the charging infrastructure market will experience strong growth over the next few years. In particular, the demand for smart charging technologies featuring intelligent load management, which enable grid-friendly charging of electric vehicles, is now expected to increase very dynamically.
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JUICE WORLD
Further information is available at https://juice.world/en/
About Juice Technology Juice Technology AG, which is based in Bachenbülach, Switzerland (near Zurich airport), is a global manufacturer of charging solutions for electric vehicles. The company’s extensive product portfolio includes both AC and DC charging stations and extends from light mobile devices to large quick chargers. Juice has dominated the global market for mobile 22-kW charging stations since 2014 and is one of the industry’s few full-range suppliers.
User friendliness is at the heart of all product development at Juice Technology. All products are designed and created with a clear focus on the user in order to ensure intuitive and efficient operation. With its consistent software orientation, Juice pursues the objective of making all charging stations compatible with each other and integrating them into a universal software ecosystem. This strategy not only maximises usability but also saves a great deal of time, effort and costs – both in development and in installation and application.
The Juice Group has a global presence with separate sites, subsidiaries and partner companies in Europe (DACH region, Great Britain, Scandinavia, Iberian Peninsula, France, Italy and large parts of the EU), Asia (with office in China) and North America (with office in Florida for the USA, Canada and Mexico). The company also has a global network of resellers. The Swiss headquarters are home to the company’s research and development, marketing, administration, purchasing and sales, and logistics. This central positioning allows Juice to drive the development of innovative technologies and respond to the needs of the global market with maximum flexibility.
You can find more information about the company, its products and solutions at www.juice.world. You can also follow us on LinkedIn, Facebook, Instagram and X (formerly Twitter).
Media contact Barbara Burzi Communication & Public Relations Juice Technology AG barbara.burzi@juice.world +41-41 510 02 19 or +49-800 3400 600