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PwC: Spectacular growth of the global market for e-charging points in 2035

29 September 2022
General Interest

The global market for charging stations for electric vehicles will reach 75.5 billion euros in 2035, up from 4.5 billion euros in 2021, according to the “Digital Auto 2021/22” report by strategy&, PwC’s Global Strategy Department.

According to the cited source, estimates show that nine out of ten (93%) cars sold in 2035 will be electric (BEV).

From the point of view of e-mobility development, Norway is the most prepared country, with the Nordic state alone currently having over 90,000 electric vehicle charging points.

In PwC’s eReadiness report, Switzerland ranks second, with a high level of demand supported by a solid infrastructure for electric cars. Also, the United Kingdom shows a good level of consumer demand, supported by EV infrastructure, but also limited incentives for the population.

At the same time, Germany is in the middle of the ranking, performing relatively well in terms of government incentives and increasing customer demand for electric vehicles. The next position goes to France, with an average level of infrastructure for electric vehicles, but which, together with a higher level of incentives, could lead to greater adoption of electric vehicles. Spain and Italy scored the lowest, mainly due to a lack of infrastructure.

“Considering the growth estimates of electric car sales, Europe is deficient not only in infrastructure, but in the production of raw materials, such as batteries, which is currently undersized in relation to demand. The ‘Gigafactories and raw materials’ analysis, carried out by strategy&, shows that Europe’s production of electric vehicles, which has reached 28% of the global one, is almost three times higher than its production of batteries, which represents less than 10% of the world production. Given the geopolitics, currently, a stronger European influence on the battery manufacturing market is needed to transform the automotive industry. The battery supply chain is still dominated by China, with around 80% of the global production of battery cells and components,” said the research.

The consultants estimate that there is a potential for the European Union (EU) and the US to supply 40% of the demand for electric vehicles, and in this way the future battery supply chain will rebalance.

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