rewrite this title Global Electric Vehicle Charging Points to Reach 206 Million by 2040

By 2040, a total of 206.6 million electric vehicle charging points will be installed worldwide. While investments are expected to reach $300 billion, residential-type solutions will take the largest share.

The growth in the global electric vehicle market is rapidly increasing investments in charging infrastructure. According to an analysis by Wood Mackenzie, 206.6 million charging points will be installed globally by 2040, with total investments expected to reach $300 billion.

Residential charging points will maintain their dominance

The largest share will be taken by charging units installed by users in their homes. According to estimates, 133 million residential charging points will be operational by 2040. The popularity of this segment is driven by ease of use and cost advantages. Level 2 (L2) residential chargers, which currently constitute two-thirds of all charging points worldwide, are projected to maintain this position until 2050.

In contrast, the number of charging points per vehicle in the public infrastructure will decrease. While there will be an average of 7.5 vehicles per charger in 2025, this ratio will increase to 14.2 vehicles by 2040. This situation increases the importance of home-based solutions while raising the risk of congestion in public networks.

China leads, with India as the rising star

In the global distribution, leadership will be in the Asia-Pacific region. China will maintain its central position in public charging investments, while the fast DC charging (L3) segment will show an annual growth of 10%. An investment of $54 billion is expected in this segment by 2040. Spending on residential Level 2 charging is also expected to reach $33 billion.

The rising star of the region is India. It is projected that the number of fast-charging points, which is only 14,000 today, will reach 1.1 million by 2040, driven by government incentives and the rapid growth of the domestic market.

In the USA, the public fast DC charging segment is coming to the forefront. It is expected to achieve an annual growth of 14% between 2025–2040, reaching 475,000 charging points and creating a market of $3.3 billion annually.

In Europe, the public DC infrastructure will be the engine of growth. Strong expansion is expected by 2040, with an annual increase of 13.7%. In addition, 57 million home AC chargers will be deployed. The commercial charging infrastructure is also projected to grow by 12%.

In the Middle East, Saudi Arabia is noteworthy. The country will become the region’s prominent player with a high annual growth rate of 29%, in line with its long-term infrastructure goals. By 2040, it is estimated that $14 billion will be spent annually on public infrastructure and $30 billion on residential solutions in the EMEA region.

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