It appears that this year will see a $100 billion global investment in electric car chargers. This amount of investment was reached over around a ten-year period, but BloombergNEF estimates that the next $100 billion will likely be spent in just three years.
Since the EV market is reflected in the charging market, China and Europe are in the lead. However, the US is making progress, as seen by the bipartisan infrastructure law’s allocation of $7.5 billion in public financing for charging infrastructure.
Mercedes-Benz has revealed plans for a network of 10,000 ultra-fast chargers, with the US as the initial location. ChargePoint is the market leader for charging, despite the fact that Tesla now rules the EV industry in the US (although Tesla is the number one when only considering fast and ultra-fast chargers).
Compared to the US, the difference between the top three EV charging operators is significantly less in Europe, where the market is more evenly distributed. While the European industry is far more developed and has some consolidation possibilities, the US sector is gaining momentum.
Automobile manufacturers, oil companies, utilities, grocery stores, and pureplay charging firms are all competing for market share and profits in a sector that may one day be as commonplace as petrol stations are now. By 2030, Shell aims to have 2.5 million EV chargers operating, many of which will be fast chargers that can double a vehicle’s range by 100 kilometres in only five minutes.
Globally, there are more than 12 million operational EV plug outlets, with more residential chargers than public ones. As EV usage rises, that will probably change.
Source: BloombergNEF
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