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EV Charging Infrastructure Report and Forecast
Vehicle electrification is one of the most impactful and long-term trends in the automotive industry. For OEMs to comply with impending carbon dioxide (CO2) legislation and regional emissions targets, alternative propulsion vehicles are entering OEM product portfolios. The automotive industry is in a transition away from the conventional powertrain, with a long-term aim to fully decarbonize the vehicles on road.
Domestic charging has been and is expected to remain, a preferred mode of charging, motivated by the factors such as convenience, cost, and limited battery degradation. The use of public/semi-public charging stations is primarily to support out of turn charging events such as long duration trips, however, the domestic and public changing trends are also shaped differently in different regions.
According to the IHS Markit EV charging infrastructure forecast, the global deployment of EV charging stations will increase at a massive 31% CAGR to more than 66 million units by 2030. The preferences for the type and location of the charging infrastructure are remarkably different across the major regions, with the Greater China region expected to account for more than 60% of the global public & semi-public charging stations deployed by 2030.
In Europe, IHS Markit forecasts that the cumulative deployment of EV charging stations will increase at 24% CAGR during the 2020-30 period. By 2030, circa 20 million houses within Europe are expected to be equipped with domestic charging stations, while public/semi-public charging stations will increase eight-fold the 2020 deployment.
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