A new study by Juniper Research has found that global volume of EV charging sessions, where an EV’s battery is charged using a charging point, will exceed 1.5 billion per annum in 2026, from just 200 million in 2021.
This remarkable growth rate of more than 665 per cent over the next five years will be driven by greater Government incentives for electric vehicles as well as more widespread charging service availability, it said.
The research identified incentives for EV ownership as having significantly increased take-up in Europe, with coordinated incentives packages needed in North America to stimulate growth.
To support greater electrification, Juniper Research recommended EV charging vendors work with governments and other stakeholders, including fuel retailers, to plan coordinated public charging network roll-outs, or the mass electrification of mobility will stall.
The research found that home charging will decline slightly; accounting for over 70 pc of all EV charging sessions in 2026, compared with just over 80 pc in 2021. However, the report found that this dominance does not directly translate into hardware revenue for charging point vendors, with public charging stations accounting for 56 pc of charging point hardware revenue globally in 2026.
Mr. Nick Maynard, author of the research, said, “While EV charging at home will largely remain dominant, public charging rollouts will be a major focus going forward, and their installation will be critical to enabling users who do not have off-road parking to join the electric mobility revolution.”
The research also found that as EVs become longer range and more powerful, fast charging DC (direct current) stations will be the next key competitive battleground within the EV charging landscape. The report recommends that vendors work on partnerships with key destinations, such as car parks and retailers now, in order to schedule fast charger rollouts, or they will lose ground to faster-moving competitors.