E-mobility spurs new fueling behavior

Join the movement to help shape \the future of parking

EV growth creates opportunities for parking operators

Electric vehicles (EVs) are gaining momentum. According to BloombergNEF (BNEF), global passenger electric vehicle sales grew 73% in Q3 2022 compared with Q3 2021.¹

BNEF predicts that EVs will make up nearly 30% of new vehicles sold by 2025 in North America and Europe and that by 2040, we’ll see sales of 60 million EVs globally.² That’s a lot of drivers who will need places to charge their EVs.

North American passenger EV sales

Source: BloombergNEF, Marklines, automakers, vehicle registration agencies. Note: Covers the U.S. and Canada only. EV sales include BEV and PHEV sales.

A new way to fuel

As EVs become more mainstream, the way people fuel their vehicles is changing. Rather than make an additional stop to put gas into their car, EV drivers can charge their vehicles by simply plugging in while they are going about their daily activities. That’s why EV charging infrastructure is greatly needed in areas where people normally park their vehicles to shop, work, go to appointments, run errands and attend events.

Globally, between April and June 2022, 1 in 10 cars sold were electric.³

^{1 BNEF, Q4 2022 Electrified Transport Market Outlook, December 2022
2 BNEF Electric Vehicle Outlook 2022}
^{3 BNEF, Q3 2022 Electrified Transport Market Outlook, August 2022}

As of July 2022, there were over 15,000 managed parking facilities in the United States and 15 million public parking spots.⁴ Currently, only 45,000 of those spaces offer EV charging. To meet the expected increase in EV drivers, roughly 400,000 more public parking spots in the United States will need to be electrified by 2025.⁵

These numbers add up to big opportunities for parking operators to stay competitive and attract new drivers by offering an all-inclusive parking experience that includes EV charging.

^{4 IBISWorld Industry Report: Parking Lots & Garages in the U.S.
5 BNEF EV Fleet & Sales Projects; NREL EV Infrastructure Data}

Municipalities expand EV charging infrastructure

To address the growing demand for EV charging and to meet sustainability goals, many cities are introducing ordinances that require public parking operators to provide EV charging to customers.

San Francisco

The City and County of San Francisco passed the Commercial Garage Electric Vehicle Charging Ordinance requiring publicly accessible commercial parking garages and lots with more than 100 parking spaces to install EV charging stations at 10% of parking spaces by Jan. 1, 2023.

Broomfield, Colorado

To help meet its goals of reducing greenhouse gas (GHG) emissions by 26% by 2025, 50% by 2030 and 90% by 2050, the Broomfield City Council voted to amend the municipal code to include electric vehicle infrastructure requirements for a portion of all parking within new developments beginning Oct. 1, 2022.

Vancouver, British Columbia

To encourage the installation of more EV charging infrastructure across Vancouver, the city updated its business license fees for gas stations and commercial parking lots. Beginning January 2025, the annual fee for these businesses will increase to $10,000 (Canadian), but fueling stations and parking operations that have installed a minimum number of EV chargers will pay a significantly lower fee, similar to what they pay today.

Even if your region has not yet implemented an EV charging mandate, now is clearly the time to electrify your parking facility. Getting ahead of requirements can ensure that your parking business remains competitive and will allow you to help shape the future of parking.