Konect Empowers Fuel Retailers for the EV Charging Future
As the demand for EVs surges globally, the infrastructure needed to support the transition lags significantly. Recent data highlights the critical gap in public EV charging points, with key markets needing to expand their networks by more than 500% to meet the projected demand by 2030. The shortfall presents a substantial opportunity for fuel retailers to adapt and thrive in a rapidly changing market landscape.
Global shortfall in public EV charging infrastructure
Despite increasing sales of EVs, the deployment of public charging stations is far from keeping pace with demand. The United States, the world's second-largest EV market, has only about 15% of the charging infrastructure required by 2030.
Europe fares only slightly better with 18% and the UK sits at 22%. According to McKinsey, to meet the ambitious targets set for 2030, the US alone will need to increase its public charging points by over 550%. Europe will require a 5.5-fold increase and the UK will have a near 350% growth in available charging stations.
At the current installation rates, these key markets will need more infrastructure to support the projected growth in electric mobility. Europe, for example, is three times behind the annual installation rate required to meet its 2030 targets.
The gap poses a significant challenge to achieving sustainability goals and represents a lucrative opportunity for businesses that can fill the void.
Konect: Leading the Charge in EV Infrastructure Solutions
Recognising this gap, Konect, the eMobility arm of Gilbarco Veeder-Root, provides fuel retailers with a comprehensive, end-to-end EV charging solution designed to meet growing demand while ensuring strong return on investment (ROI). Konect offers a full suite of services, including site selection, funding options, market-leading hardware and software solutions.
The platform integrates seamlessly with on-site energy storage systems to help future-proof businesses against the evolving market landscape.
Om Shankar, Vice President & General Manager of Konect, emphasises the need for more logical placement of charging stations, stating: "As EV technology improves and costs decrease, more people will switch to electric vehicles.
We must match this progress with readily available public charging infrastructure, particularly in familiar and convenient locations for drivers. This is the golden opportunity for the existing fuel retail network."
Addressing barriers to profitability for EV charging operators
While the opportunity for growth is significant, several barriers still need to be overcome for fuel retailers to build a profitable EV charging business. Key challenges include high installation and operational costs, lack of adequate support from service partners and downtime issues.
A recent survey by Konect found that over 71% of charge point operators struggle with recording downtime and 57% identified support from service partners as a significant hurdle to improving uptime.
Konect addresses these challenges by offering a comprehensive solution that enhances operational efficiency, ensures reliable service and provides a superior user experience. The company's DC fast-charging technology features a unique dispenser design that combines durability with ease of use and maintenance.
An adaptable 17-foot charging cable and a high-brightness LCD touchscreen with an intuitive user interface further enhance the charging experience for customers.
Future-proofing businesses with integrated EV solutions
Konect's intelligent charging infrastructure is part of a broader, fully integrated ecosystem that connects on-site facilities through a central cloud-based platform. The platform manages everything from charging infrastructure to localised energy management and off-grid charging solutions.
By leveraging the integrated approach, fuel retailers and charge point operators (CPOs) can maximise operational efficiency, enhance profitability and facilitate a seamless transition to electric mobility.
Konect's holistic approach includes consultancy, installation, maintenance and customer service, ensuring a flexible and streamlined solution for fuel retailers looking to future-proof their facilities.
By partnering with Konect, fuel retailers can transform existing forecourt sites into critical locations for EV charging, capturing a new revenue stream while supporting the global transition to sustainable transportation.
Seizing the Opportunity in EV Charging
The shortfall in EV charging infrastructure presents a clear challenge and a substantial opportunity for fuel retailers to diversify and future-proof their businesses. With comprehensive solutions from Konect, fuel retailers are well-positioned to play a pivotal role in bridging the gap and driving the transition to electric mobility.
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