Electric vehicle (EV) charging ports worldwide are projected to expand at a compound annual growth rate (CAGR) of 12.3% between 2026 and 2040, reaching 206.6 million units and a market size of $300 billion, according to consultancy Wood Mackenzie.
The firm’s infrastructure forecast said the residential sector will remain the largest contributor, with an estimated 133 million ports installed globally. Level-2 home charging is expected to account for roughly two-thirds of all charging ports worldwide through 2050.
“This segment’s sustained appeal stems from its ability to deliver the optimal balance of convenience, charging performance, and value that resonates most strongly with EV owners,” said Emil Koenig, senior research analyst for EV charging and power and renewables at Wood Mackenzie.
As public infrastructure utilization rises, the ratio of electric vehicles to chargers is expected to increase. “We expect the ratio of EVs to public chargers to increase from 7.5 battery electric vehicles per charger in 2025 to 14.2 in 2040,” Oliver McHugh, Wood Mackenzie’s senior EV charging research analyst, said in the report.
The United States is expected to see faster growth than the global average in public charging, with ports expanding at a CAGR of 14% through 2040. Wood Mackenzie said the U.S. market could reach 475,000 ports and generate $3.3 billion in annual market value by that year.
