Accelerating EV Charger Deployment to Meet the Surging EV Market

TAIPEI, May 31, 2024 /PRNewswire/ -- As electric vehicle (EV) sales surge, governments and charging infrastructure providers worldwide are working together to accelerate the construction of charging facilities. According to the latest survey by DIGITIMES Research, the global EV fleet surpassed 40 million units in 2023, but there are only 4.017 million public charging points, indicating that the growth rate of charging infrastructure lags far behind EV adoption.

Progress in Global Charger Deployment
In 2023, 14 million new EVs were added worldwide, but only 1.34 million new charging points were built. Establishing a comprehensive charging network is crucial for the development of the EV market. Meeting the charging needs of EV owners is essential to promote sustained and rapid market growth.

Development Differences in Key Markets
DIGITIMES Research analyst Jasper Jiang pointed out significant regional differences in the speed of charging infrastructure deployment. Comparing the three major markets—China, Europe, and the United States, which together account for over 90% of the global EV stock - reveals notable differences in the development of charging infrastructure:

China: China's EV-to-charger ratio (number of EVs per public charging points is less than 10:1), reflecting its rapid growth in charging facilities. In 2023, China added more than 200,000 public charging points each quarter, primarily concentrated in eastern coastal regions such as Guangdong, Zhejiang, Jiangsu, and Shanghai. Guangdong Province, a hub for car manufacturers, accounts for over 20% of China's total public charging points.

Europe: Europe is growing at a rate of over 50,000 new charging points per quarter, with the Netherlands, France, and Germany leading in the number of charging points. Geographic proximity and policy coordination among European countries have accelerated the development of charging infrastructure.

United States: The US added just over 22,000 new charging points in 2023, with California alone accounting for 26.8% of the nation's total. This highlights the need for many US regions to accelerate their charging infrastructure development.

Future Outlook and Challenges
Jasper Jiang further stated that while establishing comprehensive charging infrastructure is a primary goal for governments and industry players, the current distribution of charging points remains concentrated in specific areas. Bridging the resource gap between countries, cities, and rural areas will be a key development focus going forward. This will further accelerate the deployment of charging infrastructure, driving rapid growth in the EV market.

Detailed Analysis Report Available Now
DIGITIMES Research has released a detailed report providing more data and in-depth analysis to help you understand the future direction of the global EV market. Access our latest insights and explore opportunities in the evolving EV charging market.

SOURCE DIGITIMES ASIA