June 2022 – Stifel IRIS is pleased to present “Exploring the fast-growing EV charging market”, an industry brief analysing the role of EV charging infrastructure as a cornerstone of the energy transition and mobility decarbonisation.

As the European Union accelerates its push toward zero-emission vehicles by 2035, charging networks emerge as a critical enabler of EV adoption, supported by public policies and growing private investments.

The EV market is booming, but charging must keep pace
Over the past decade, EV sales have surged, with Europe expected to reach over 60 million EVs on the road by 2030. Yet, charging infrastructure remains a limiting factor: up to 65 million charging points may be needed by 2035 to support mass adoption. Home, workplace, destination, and public charging locations must be scaled efficiently, with a smart balance between slow AC and fast DC charging.

Technology disruptions are reshaping the market
Next-generation batteries (solid-state, Li-sulphur), smart charging solutions, and bidirectional charging (V2G/V2H) are redefining business models. Industry players across hardware, software, and data aggregation are unlocking new services and optimising grid interactions to improve the customer experience and operational efficiency.

A fragmented ecosystem with room for consolidation
The EV charging landscape is rapidly evolving, involving OEMs, Charge Point Operators (CPOs), and e-Mobility Service Providers (e-MSPs). While OEMs focus on hardware, CPOs and e-MSPs compete on interoperability, network coverage, and digital services. The sector has seen a sharp rise in M&A activity, especially in Europe, where strategic partnerships and financial investors are driving consolidation.

Europe leads, but disparities remain
While countries like the Netherlands, Germany, France, and the UK account for the majority of public charging points, Eastern Europe and other regions lag behind. Harmonising infrastructure rollouts and accelerating private sector involvement will be key to closing this gap.

To dive deeper into the dynamics of the EV charging ecosystem, emerging technologies, and market opportunities, download the full white paper below.