PwC Analysis: U.S. Electric Vehicle Charging Market Growth

Here is a clear, professional summary of the PwC report on the U.S. electric vehicle charging market—suitable for academic, industry, or business research writing:

PwC Analysis: U.S. Electric Vehicle Charging Market Growth

A detailed analysis by PwC projects substantial expansion in the U.S. electric vehicle charging market through the end of the decade and beyond. The study highlights both infrastructure scale-up requirements and market value implications that accompany mass EV adoption.

1. Infrastructure Growth Projections

According to PwC’s analysis, the number of EV charge points in the United States is expected to grow from approximately 4 million today to around 35 million by 2030. This near-tenfold increase reflects the anticipated surge in electric vehicle registrations and the consequential demand for accessible charging availability across residential, workplace, and public sectors. The forecasted growth underscores the need for comprehensive infrastructure planning that addresses both localized charging near homes and high-traffic “on-the-go” charging corridors. (PwC)

2. Market Value Expansion

In terms of economic scale, PwC estimates the U.S. EV supply equipment (EVSE) market could reach approximately USD 100 billion by 2040, expanding from an estimated USD 7 billion base today. The projected compound annual growth rate (CAGR) for this expansion is approximately 15% through 2040, reflecting the long-term demand trajectory for EV charging infrastructure and related services. (PwC)

3. EV Adoption and Charging Demand

The projected charging point increase is closely tied to the anticipated growth in EV ownership. PwC estimates that the number of electric vehicles on U.S. roads could reach 27 million by 2030 and 92 million by 2040, assuming current adoption trends continue. The need for charging infrastructure to scale in proportion with EV adoption highlights the interdependence between vehicle electrification and public/private investment in EVSE deployment. (PwC)

4. Value Pool Shifts in the Charging Ecosystem

PwC identifies four primary value pools within the EV charging ecosystem:

• Hardware manufacturers that produce EVSE equipment;
• Software providers enabling network management and user services;
• Installers responsible for site design and deployment; and
• Charge Point Operators (CPOs) that build, operate, and maintain charging networks.

The analysis forecasts that CPOs will account for the bulk of market value over time, increasing their revenue share from roughly 50% today to approximately 65% by 2040. This shift reflects the growing importance of recurring revenue from charging operations, network services, and integrated solutions over one-time hardware sales. Hardware providers’ share of the total value pool is expected to contract, decreasing from about 46% today to an estimated 35% by 2030 and 20% by 2040. (PwC)

5. Emerging Segment Growth

PwC identifies the “at-work” and “on-the-go” charging segments as potentially the fastest-growing through 2030, reflecting evolving usage patterns where drivers charge beyond residential settings, including workplace parking and highway/urban intermediate locations. This trend underscores the need for diversified charging infrastructure models that support longer travel behaviors and commercial mobility requirements. (PwC)

Key Takeaways for Research and Policy

• Infrastructure scale-up requirement: 35 million charge points by 2030 represents a fundamental transformation of the U.S. charging landscape relative to current capacity. (PwC)
• Market value growth: USD 100 billion EVSE market by 2040 indicates robust investment potential across hardware, software, installation, and operational domains. (PwC)
• Role of CPOs: The increasing share of revenue captured by network operators reflects a shift toward service-oriented business models in EV infrastructure. (PwC)
• Residential dominance with rising “on-the-go” needs: Residential charging is forecast to dominate in absolute numbers, but non-residential charging growth is expected to broaden infrastructure reach. (PwC)

Reference

PwC. The US electric vehicle charging market could grow nearly tenfold by 2030: How will we get there? Available at: https://www.pwc.com/us/en/industries/industrial-products/library/electric-vehicle-charging-market-growth.html (PwC)