Global EV charging ports to increase CAGR of 12.3% from 2026-2040, reaching 206.6M total ports

According to Wood Mackenzie’s recently released Electric Vehicle (EV) Charging Infrastructure Forecast, EV charging ports will increase at 12.3% CAGR from 2026-2040, reaching 206.6 million ports globally.

The residential charging market will continue to be the dominant segment, with 133 million ports globally by 2040, according to the report. To achieve this, annual global spend in EV charging infrastructure is expected to increase at CAGR of 8% from 2026-2040, reaching $300 billion.

“As utilization in public charging increases and infrastructure efficiency improves, 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,” said Oliver McHugh, senior EV charging research analyst for Wood Mackenzie.

Added Emil Koenig, senior research analyst, EV charging and power and renewables for Wood Mackenzie, "Residential Level 2 charging dominates the global market, and will comprise approximately two out of every three 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."

Regional Growth Highlights:

Asia-Pacific leads global expansion, with China maintaining its dominance in public charging infrastructure. The region is forecast to see ~10% CAGR growth in DC charging from 2025-2040, with public L3 and residential L2 segments representing the largest annual CAPEX spend by 2040 at $54 billion and $33 billion respectively. India emerges as a key growth market, with DC fast chargers expected to surge from 14,000 today to 1.1 million by 2040, driven by strong policy support and rapid EV market expansion.

The Americas show resilience despite challenges, with the US public DCFC segment maintaining a robust 14% CAGR from 2025-2040, reaching 475,000 ports and generating $3.3 billion in annual market value by 2040. South America is positioned for accelerated growth, with residential charging expanding at 22% CAGR as the region's EV market catches up with North America. The residential L2 segment will dominate regional CAPEX at $11.2 billion by 2040.

Europe and Middle East demonstrate strong momentum, with European public chargers growing at 11.3% CAGR through 2040, led by DC charger expansion at 13.7% CAGR. The residential segment will reach 57 million AC chargers by 2040, while commercial charging grows at 12% CAGR. Saudi Arabia stands out with exceptional 29% CAGR growth in public DC charging, supported by ambitious government targets. By 2040, the EMEA region will see annual spending of $14 billion in public charging and $30 billion in residential infrastructure.