The electric vehicle (EV) charging landscape is set for a dramatic transformation over the next decade and a half. According to a new forecast from Wood Mackenzie, the number of global EV charging ports is expected to soar at a compound annual growth rate of 12.3% between 2026 and 2040, reaching 206.6 million units worldwide by the end of that period.
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Home Charging Leads the Market
Residential charging will remain the backbone of EV adoption. By 2040, 133 million home charging ports are projected to be installed globally, making up nearly two-thirds of the market. Annual spending on charging infrastructure is also expected to grow steadily at about 8% per year, hitting $300 billion by 2040.
“Residential Level 2 charging dominates the global market and will make up about 2 out of every 3 charging ports worldwide through 2050,” said Emil Koenig, senior research analyst at Wood Mackenzie. The key drivers here are convenience and cost-efficiency, as most EV owners prefer the reliability of charging overnight at home.
Public charging will expand too, but at a slower rate. Analysts expect the ratio of EVs to public chargers to nearly double, from 7.5 vehicles per charger in 2025 to 14.2 by 2040, as utilization and infrastructure efficiency improve.
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Global EV Charging Ports – Regional Growth Trends
Asia-Pacific will continue to dominate EV charging infrastructure, led by China’s strong investment in public networks. The region’s DC fast charging market is expected to grow about 10% annually through 2040. India is also emerging as a high-growth player, with its DC fast charger count forecast to leap from 14,000 today to 1.1 million by 2040, driven by government policy and surging EV adoption.
In the Americas, the United States public fast-charging market is projected to grow at 14% annually, reaching 475,000 ports by 2040 and generating $3.3 billion in market value. South America is catching up quickly, with residential charging expected to expand at an impressive 22% annual rate.
Europe and the Middle East are also set for strong growth. Europe will see public charging infrastructure expand by 11.3% annually, with DC fast chargers rising even faster at 13.7%. By 2040, Europe will have 57 million residential chargers installed. In the Middle East, Saudi Arabia is positioning itself as a leader, targeting 29% annual growth in public fast charging with strong government support.
The Road Ahead- Global EV Charging Ports
By 2040, Global EV Charging Ports will be more widely available, with residential Level 2 chargers leading the way globally. Public fast charging will continue to expand, but home setups will remain the most practical and cost-effective option for the majority of EV drivers.
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