EV Charging Technologies Forecast Database 4Q23

Electrification of the transport sector is a cornerstone of the energy transition. Driven by policymaker imperatives and the public’s growing climate consciousness, the availability of EV charging technology is key to electrifying transport. A growing number of government targets for internal combustion engine (ICE) bans and corporate targets for supply chain decarbonization have prompted fleets and automakers to announce that they will abandon the ICE within the next 5 to 15 years. None of these initiatives are new, but the industry-wide recognition of the magnitude of these demands is. Combined with it is a flurry of incentives, tax credits, technology improvements, standards, and developing EV charging business models, in what is overall an exciting growth opportunity.

In July 2023, the EU approved a new rules package to update the EV fast charging network by 2026. The rules are intended to benefit EV drivers by expanding EV charging infrastructure along Europe’s main highways, making payments easier, and ensuring price transparency. The US Inflation Reduction Act, passed in August 2022, similarly provides funding and incentives for the EV transition. Around the world, the scale and target of incentive schemes related to EVs and EV charge points are in continuous development. EV sales continue surging globally, new markets such as charging as a service are emerging, and regions are implementing rules standardizing EV charging processes.

This 2^nd edition of the Guidehouse Insights EV Charging Technologies Forecast Database provides an overview of the technologies and applications that make up the global EV charging market. It identifies forces driving and challenging the market with a focus on five technology groups (AC, DC, pantograph, wireless, and battery swapping) and five charging applications (residential, destination, fast charging services, fleet, and heavy commercial vehicle [HCV] fast charging services). A front-end dashboard and database provide enhanced data visualization capabilities, while the database retains all of the variables, customer segments, and forecasts previously included in the Guidehouse Insights Market Data: EV Charging Technologies.