EV charging set to increase by 665%

Electric vehicle (EV) charging sessions are set to exceed 1.5 billion by 2026, according to a study conducted by Juniper Research. 

According to the researchers, this growth rate of 665% over the next five years will largely be driven by greater government incentives for EVs, as well as more widespread charging service availability. 

The researchers did find that home charging will slightly decline, accounting for over 70% of all charging in 2026, compared to just over 80% in 2021.

However, the report found that this dominance does not directly translate into hardware revenue for charging point vendors, with public charging accounting for 56% of charging point revenue globally in 2026.

To support greater electrification, Juniper Research recommends EV charging vendors work with governments and other stakeholders, including fuel retailers, to plan coordinated public charging network roll-outs. 

The research 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 roll-outs, or they will lose ground to faster-moving competitors.

In related news, the Welsh Government has unveiled a new electric vehicle (EV) Charging Action Plan.