According to S&P Global Mobility research, the number of US public electric vehicle (EV) charging stations must increase fourfold by 2025 to meet the growing demand for EVs.

While EVs make up only 1% of the 281 million cars on US roads today, 5.3% of new car registrations between January and October 2022 were for electric cars. In real terms, approximately 604,638 electric vehicles were registered during the 10-month period. The new registrations are showing an increase of 60% year over year. It’s estimated that the EV market share will rise to 40% of all new vehicles in the US by 2030. To meet this demand, S&P Global Mobility predicts that the US will need: 700,000 Level 2 chargers and 70,000 DC fast chargers will be required by 2025, growing to 1.2 million Level 2 charging stations and over 100,000 DC fast charging by 2027 and over 2 million Level 2 chargers and 172,000 DC fast charging stalls by 2030.  Estimated Chargers Needed in the US

2025:  700,000 Level 2 Charging Stations, and 70,000 DC Fast Chargers

2027:  1,200,000 Level 2 Charging Stations, and 100,000 DC Fast Chargers

2027:  2,000,000 Level 2 Charging Stations, and 172,000 DC Fast Chargers

The lack of a robust public charging network slows EV adoption and is considered a critical factor in the growth of the EV market. S&P Global Mobility research and analysis director Graham Evans adds: “Developments in battery technology and how quickly EVs can receive power will be as critical to improvements here as how speedily and plentifully electric infrastructure can provide the power.“ The need to get ready for EV charging has never been more important than now.  Apartments, condominiums, hotels, and fleet owners must act now to be ready. Source:  Automotive News