As the demand for electric vehicles (EVs) increases, so does the need for efficient and reliable charging options. With 2021 and 2022 already seeing a number of changes in EV charging, it’s time to take a look at what the future has in store.
We’ve laid out the current and upcoming EV charging trends and predictions for 2023 and beyond. From the rise of DC fast charging to the decline of Level 1 and Level 2 charging, get ready to explore the future of EV charging and the potential changes that may come.
The last few years have seen an explosion in the manufacturing of EVs. Car makers across the globe have been introducing new EV models, from passenger cars to trucks, commercial vans, and even remakes of popular models. In 2021, EVs made up 7% of total global car sales, and this number is expected to reach 18% by 2022 according to the International Energy Agency’s Global EV Outlook 2022 report. As more car makers enter the market, this trend is only likely to grow.
Not only are the number of EVs increasing, but the types of charging infrastructure available are also evolving. With the growing prevalence of EVs, new ev charging trends are emerging. For instance, DC fast charging is becoming more popular, while Level 1 and Level 2 charging are becoming less common. This trend is driven by people wanting their vehicles to be charged faster and for longer distances. The IEA report suggests that public DC fast charging infrastructure will increase nearly threefold over the next decade.
Electric vehicle sales are skyrocketing as people are increasingly recognizing the long-term savings and environmental benefits that come from using EVs. According to the International Energy Agency, global EV sales tripled between 2018 and 2019, with the US being a major market for EVs.1 The cost of owning an EV is becoming more attractive due to lower upfront costs, better range, and available incentives. Moreover, it’s becoming easier for drivers to charge their vehicles. Governments and private companies are investing heavily in EV charging infrastructure and there is a growing global EV charging market. As more charging stations become available, people are more likely to adopt EVs, leading to a reduction in emissions and improved air quality. Additionally, increased investment in EV charging infrastructure will create new jobs and help the economy grow. Companies are working to install DC fast chargers worldwide, like Tesla Superchargers, which makes it much easier for drivers to “fill up” on the go. This type of technology will become more common over the next few years and make road trips possible with just one stop at a DC fast charger. Meanwhile, Level 1 and Level 2 chargers will become less common since they don’t provide enough power to charge up quickly enough. With continued investment into EV charging infrastructure, the global EV charging market is set to grow exponentially over the next few years. This will create further job opportunities and help drive down prices for consumers, ultimately increasing EV sales even further.
As electric vehicle sales continue to rise, the need for EV charging infrastructure is becoming more and more prevalent. With more people wanting to make the switch to an EV, many are looking into installing a residential EV charging station in their homes and multi-family units. With the global EV charging market expected to reach a valuation of $145.71 billion by 2027, the demand for EV charging stations is only increasing.
For those who own EVs or plan on buying one soon, having a residential EV charging station is essential. Installing a charger allows EV owners to conveniently charge their vehicles at home and make sure that their vehicle’s battery is always charged up and ready to go. Residential EV charging stations can be installed in single-family homes, apartments, and other multi-family units. It’s important to note that there are two types of residential EV chargers: Level 1 and Level 2. Level 1 chargers are typically used in garages or driveways, while Level 2 chargers are usually used in larger living spaces or multiple-unit buildings.
With more and more people investing in EVs and the global EV charging market continuing to grow, it’s safe to say that installing residential EV charging stations will become even more popular in the future. As such, EV owners need to consider their options when it comes to choosing the best residential EV charging station for their homes. According to the US Department of Energy, the number of EV charging stations installed in homes and multifamily units has grown exponentially since 2012. Between 2018 and 2019 alone, the number of residential charging stations grew by over 50%. As the global EV charging market continues to boom, the demand for residential EV charging stations will only continue to grow. With more and more people switching to EVs, having a residential EV charging station will be essential in the years to come.
As more electric vehicles enter the market, DC fast charging is becoming a more in-demand service. Businesses and municipalities are being encouraged to heavily invest in EV charging infrastructure to keep up with the demand. According to the US Department of Energy, the number of DC fast-charging sites in the US more than tripled between 2017 and 2019. As of 2019, there were just over 19,000 public DC fast-charging outlets in the US, compared to only around 6,000 in 2017. This increasing demand for DC fast charging will likely continue as more people switch to EVs and the market for electric-only vehicles grows. In order to keep up with this growing market, businesses and municipalities need to invest in reliable and accessible EV charging infrastructure.
Level 1 and Level 2 charging are the most popular types of electric vehicle charging, but predictions suggest that this will soon change as DC fast charging becomes more available. The global EV charging market is currently dominated by these two slow charging methods, but with the rising demand for faster charging times, this is expected to change in the near future.
Level 1 and Level 2 charging are adequate for those who charge their vehicles at home, but they do not provide a fast enough charge rate for longer trips. The slower charging speeds of these two methods take several hours to charge an EV, whereas DC fast charging can provide up to 80% of a battery’s capacity in less than an hour. This makes it a more viable option for those looking to charge their vehicle quickly and efficiently.
So this will require the shift to DC fast charging as well. The growth of the DC fast charging network is already being seen in many countries around the world, and this trend is predicted to continue until 2030. This will mean that level 1 and level 2 charging will become less common as more people opt for the faster and more convenient charging methods. Furthermore, many car makers are now offering incentives for their customers to switch to DC fast charging, so this is likely to have an even greater impact on the market in the coming years. The emergence of 800v batteries that enable ultrafast charging is expected to become standard in EVs by 20252.
Charging Infrastructure for Electric Trucks and Buses
Infrastructure development and grid upgrades are crucial for electric trucks and buses. Off-shift charging is vital for long-distance electric trucks, while mid-shift fast charging adoption is crucial for regional and long-haul operations. High-power charging infrastructure, rated at 1 MW, is necessary but will require significant investment, smart charging, and coordinated planning. This infrastructure is also expected to account for 18% of total charging capacity by 20273.
Surpassing Rooftop Solar Installation
By 2023, EV charger annual installed capacity is set to surpass distributed solar for the first time in the US. The overall DER (Distributed Energy Resources) market, which includes EV chargers, is expected to nearly double in capacity from 2022 to 20274.
The electric vehicle charging infrastructure has come a long way in the last few years. With more car makers now making EV models, people are adopting EVs more and more, leading to an increase in EV sales. To keep up with this demand, the global EV charging market is also growing, offering more efficient and innovative charging solutions. As the EV charging infrastructure continues to develop, DC fast charging will become more popular while Level 1 and Level 2 charging will become less common. This trend towards improved EV charging infrastructure is sure to continue into 2023 and beyond.
- IEA, Fast publicly available chargers, 2015-2021, IEA, Paris https://www.iea.org/data-and-statistics/charts/fast-publicly-available-chargers-2015-2021, IEA. Licence: CC BY 4.0 (Accessed: 29 July 2023).
- Ev charging market trends in 2023 and beyond (2023) Tritium. Available at: https://tritiumcharging.com/ev-charging-market-trends-in-2023-and-beyond/ (Accessed: 29 July 2023).
- Lewis, M. (2023) For the first time, US EV charger capacity will overtake rooftop solar in 2023, Electrek. Available at: https://electrek.co/2023/06/20/us-ev-charger-capacity-rooftop-solar-us/ (Accessed: 29 July 2023).
- IEA (2023), Global EV Outlook 2023, IEA, Paris https://www.iea.org/reports/global-ev-outlook-2023, License: CC BY 4.0 (Accessed: 29 July 2023).