Annual revenue from EV sales to surpass $1 trillion by 2025, yet fragmented charging infrastructure risks alienating large segments of society

40 million new EV charging connections will be added between now and the end of 2028, with these predominantly located in private households.
May 14, 2024

Zero Carbon Academy’s new research into the EV vehicle and charging landscape has found that globally 40 million new EV charging connections will be in place by 2028, with more than two thirds of these designated as household chargers.

Fragmented charging market risks an increase in societal inequality

ZCA’s new deep-dive report Electric vehicles & charging infrastructure 2023-2028 finds that global EV sales will surpass $1 trillion per annum by 2025, with an additional 100 million EVs on roads by 2028, yet less than 16 million publicly available chargers will be in operation.

Lauren Foye Head of Market Research & Consultancy at ZCA commented: “Whilst EV sales will continue to grow, we recognise a slowing of adoption rates in many major economies by the end of the period. A lack of public EV charging infrastructure is hampering adoption, and risks isolating communities where public charging is sparse, or residential chargers are not viable- such as in remote rural communities, or in city centres where many live in flats or apartments.”

The report argues that as major economies introduce phase-out of petrol and diesel vehicles and a subsequent switch to EVs, governments must act to ensure segments of society are not effectively segregated from vehicle ownership.

The research also finds that fragmentation of the charging ecosystem remains a major barrier to EV adoption, with consumers concerned by the range of EV vehicle batteries as well as easy access to charging facilities. It argues that governments should consider providing information portals to allay fears and dispel myths around EV usage. Such services must also provide up-to-date information on public chargers and associated charging speeds to eradicate ‘range anxiety’.

For a sample of the research, download the free whitepaper: Driving change: How EVs are energising the green transition.

For further details please contact Charlie Jones


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Lauren Foye
Head of Reports

Lauren has extensive experience as an analyst and market researcher in the digital technology and travel sectors. She has a background in researching and forecasting emerging technologies, with a particular passion for the Videogames and eSports industries. She joined the Critical Information Group as Head of Reports and Market Research at GRC World Forums, and leads the content and data research team at the Zero Carbon Academy. “What drew me to the academy is the opportunity to add content and commentary around sustainability across a wealth of industries and sectors.”

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