The Impact of Electrical Vehicles on Electrical Suppliers
The electric vehicle (EV) industry has experienced substantial growth in recent years and is projected to bring in an estimated 457.6 billion dollars in revenue by 2023. By 2035, all new vehicles registered in the state of California will be required to be either an electric or hybrid model. The shift towards electric vehicles (EVs) has brought about numerous changes for electrical suppliers as they strive to meet the growing demand for EV components. In this blog, we will discuss some of the most significant impacts that the electric car industry has on electrical suppliers.
Increasing Demand for Batteries
One of the most evident impacts of the electric car industry on electrical suppliers is the heightened demand for batteries. Batteries are crucial for storing energy and powering EVs. According to McKinsey, by 2030 the demand for EV batteries is expected to increase 30% globally every year. This surge in demand has presented electrical suppliers with new opportunities to develop and produce high-quality batteries that meet the needs of the EV market. In response, electrical suppliers are investing in research and development to create batteries with higher energy density, longer life, and faster charging capabilities.
Growing Need for Charging Facilities
Another way the electric car industry affects electrical suppliers is the growing demand for charging infrastructure. As more and more EVs hit the road, more charging infrastructure is required. Electrical suppliers must keep up with the growing need for charging cables and other necessary components. ATI Electrical Supply offers a range of Cable Assemblies to help meet the needs of electric car charging stations. These cables are manufactured using high-quality materials and are tested to ensure durability and reliability.
ATI Electrical Supply also has an Electrical Switchgear Projects Group in Henderson, Nevada that manages large scale projects involving Panel Boards and Switchgear projects in Las Vegas and throughout Nevada. We expect to see a large increase in demand for EV infrastructure in recent months. If you need a quote for an upcoming project in Nevada that requires switchgear, please email us at ESPG@ATIelectrical.com
Dependence on the Electric Grid
Charing EVs are dependent on having access to electricity. A power outage can leave EV owners in situations where users are unable to charge their cars. ATI specializes in temporary power products, so you can count on our emergency power solutions when the grid goes down. We supply a wide range of emergency power solutions, which includes Camlock Connectors, Generator Cables, and Portable Power Distribution boxes. Give yourself peace of mind and prepare yourself with backup power!
We also carry Automatic Transfer Switches (ATS) from top brands such as ABB, Power Assemblies, ASCO, and Generac. All of our switches and power distribution equipment can be customized to incorporate Series 16 Camlocks for quick and convenient power hookups. An ATS will automatically transfer the power supply from the main source to a backup generator in the event of a power outage. Our Automatic Transfer Switches are designed to be highly reliable and easy to use, with features like automatic retransfer and system status indicators. This ensures that electric car charging stations remain operational even during power outages by providing a continuous and uninterrupted charging experience for electric car owners. By offering a complete solution for charging infrastructure, ATI Electrical Supply is helping to build a more robust and resilient electric car charging network.
Shifting Supply Chain Dynamics
The growth of the electric car industry has also shifted the supply chain dynamics for electrical suppliers. The production of EVs requires many components, including batteries, motors, and charging components. As a result, electrical suppliers are now sourcing materials from new locations and developing relationships with new suppliers to meet the growing demand. This shift in the supply chain has also led to increased competition in the market, as electrical suppliers strive to secure contracts and maintain their market position.
Inventory management is one of our top priorities! We supply an extensive range of custom emergency power solutions including Automatic Transfer Switches, Custom Cable Assemblies, Panel Boards, Transformers, Safety Switches, and more additional Switchgear. ATI understands the importance of having access to power during an emergency. Our inventory is packed with thousands of Camlock Connectors and hundreds of Generator Cables. We strive to consistently provide our customers with what they need when they need it!
In conclusion, the electric car industry has an influence on future markets for electrical suppliers. The surging need for batteries, charging infrastructure, and other components have created new opportunities for electrical suppliers to grow their businesses. However, the growth of the industry has also brought new challenges, such as shifting supply chain dynamics, increased competition, and stress on the power grid. Nevertheless, electrical suppliers that can adapt to these changes and meet the growing demand for EVs will be well-positioned to succeed in the future.
ATI Electrical Supply offers a comprehensive range of electrical products and solutions that are designed to provide backup power for the electric car industry. With our commitment to providing high-quality and innovative products, ATI is positioned to support the growth well-positioned to support the continued growth and success of the electric car industry.
If you have any questions about how we can help support electric car charging infrastructure, please don’t hesitate to contact our experts through the live chat on our website or contact us by calling or texting (800)-597-9311.