Global EV Charging Trends: Is Public Charging Infrastructure Ready for Growing Demand (Simon-Kucher)

Summary

• The global electric vehicles (EV) market is projected to grow at an annual rate of 6-7 percent between 2024 to 2029.§1
• Simon-Kucher's Global EV Charging Consumer Study surveyed over 2,000 current and future EV owners in the US and across Europe.§1
• EV owners currently use home charging to meet 50 percent of their needs, but public charging is predicted to rise.§2
• Current owners use high power charging (HPC) for 20 percent of their needs, while potential owners anticipate using it for only 16 percent.§2
• 41 percent of EV owners prefer charging apps for long-range driving, while 38 percent of potential consumers would also consider using them.§2
• 30 percent of respondents from Sweden state they will not use HPC charging if charged any price premium on top of home energy.§3
• 74 percent of future EV drivers express interest in a mini charging subscription out of five HPC subscription options tested.§4

Key insights

1. Fast HPC technology can charge cars to 80 percent SoC in less than 30 minutes but is costly.§2
2. The next generation of EV drivers is expected to rely more on workplace and public charging stations.§2
3. Premium markets are willing to pay over three times the median amount for some charging types.§3
4. In the US, 71 percent of EV owners and 62 percent of future drivers prioritize charging speed.§3
5. Future drivers in France (48 percent) and Sweden (47 percent) rank easy access as a crucial factor justifying higher prices for public charging in cities.§3
6. 56 percent of current and future EV owners are interested in integrating loyalty programs with existing rewards like Miles & More and Payback.§4
7. 42 percent of the next generation of EV owners prioritize partner bonus points.§4