The global electric vehicle (EV) revolution is just getting started. According to the International Energy Agency (IEA), the number of EVs on roads worldwide is projected to soar from 10 million in 2020 to at least 145 million by 2030. Driving this phenomenal growth is the rapid buildout of EV charging infrastructure globally.
As per research firm MarketsandMarkets, the EV charging market size is estimated to reach $29.7 billion by 2030 at a CAGR of 33.6%. Recognizing the massive growth potential in this space, governments and corporates are investing heavily to expand charging access for drivers.
Let‘s examine the 10 major players delivering the EV charging infrastructure of today and tomorrow.
1. Tesla Supercharges Ahead
Valuation: $924 billion
Headquarters: Austin, Texas, United States
The top spot goes to Elon Musk’s Tesla, the dominant force in EVs and clean energy innovations. Tesla‘s proprietary Supercharger network has over 40,000 fast charging stations worldwide designed specifically for Tesla vehicles. What sets Tesla’s network apart is convenience – Superchargers are strategically located near amenities and able to deliver up to 200 miles of charge in just 15 minutes.
Tesla is continually expanding its network, aiming to have 50,000 Superchargers by 2030 according to an Elon Musk tweet. The latest four-stall Supercharger stations have charging capacity up to 250 kW enabled by a one mega-watt power cabinet per stall. Tesla has also open-sourced its EV charging patents to enable other automakers to utilize the Supercharger network.
Supercharger Network Size & Growth
| Year | Global Superchargers |
|---|---|
| 2019 | 15,000 |
| 2021 | 30,000 |
| 2022 | 40,000 |
| 2030 (projected) | 50,000 |
Data Source: Tesla
2. ChargePoint Charges Up the Market
Valuation: $2.6 billion
Headquarters: Campbell, California, United States
ChargePoint operates one of the world’s largest and most open EV charging networks with approximately 200,000 places to charge across North America and Europe. It offers Level 2 charging for residential & commercial needs as well as high-powered DC fast charging.
ChargePoint is attracting major investments from legacy automakers, EV startups and oil & gas majors, including BMW, General Motors and BP. This is thanks to its hardware-agnostic model allowing station owners to control access, pricing, etc. while drivers enjoy roaming access across ChargePoint‘s vast network.
ChargePoint is also expanding rapidly in Europe, acquiring eMobility players like ViriCiti and has·to·be. It aims to have 2.5 million charging spots globally by 2030.
ChargePoint Network Size & Growth
| Year | Global Charge Points |
|---|---|
| 2021 | 200,000 |
| 2025 (projected) | 2,000,000 |
| 2030 (projected) | 2,500,000 |
Data Source: ChargePoint InvestorPresentation
3. EVgo: DC Fast Charging Leader in U.S.
Valuation: $2.1 billion
Headquarters: Los Angeles, California, United States
EVgo specializes in reliable, high-powered DC fast charging for electric vehicles across over 850 locations in the United States today. EVgo has the nation’s first 350 kW charging stations that can add up to 200 miles of range in just 15 minutes.
EVgo focuses on serving rideshare vehicles and commercial EV fleets that need to minimize downtime. Backed by investments from GM, EVgo is charging ahead to install 3,500 DC fast charging stalls by 2030. It is also collaborating with retail partners like Meijer, Whole Foods and Walmart to bring convenient fast charging access to shoppers.
EVgo Charging Network Expansion
| Year | Charging Stalls Installed |
|---|---|
| 2021 | 800 |
| 2025 (projected) | 1,800 |
| 2030 (projected) | 3,500 |
Data Source: EVgo
4. Wallbox: Charging Innovation Leader
Valuation: $1.7 billion
Headquarters: Barcelona, Spain
Wallbox stands out with its vertically integrated model allowing for rapid innovation across hardware, software and services for EV charging and energy management. It offers an extensive product portfolio spanning bidirectional chargers, DC fast chargers, public charging stations and home chargers with smart capabilities.
Wallbox has delivered over 250,000 chargers globally and installed over 8,000 public charging ports in cities worldwide. Its cloud-based platform Electromaps provides real time charger status, reservations and cost information for EV drivers.
Wallbox chargers boast advanced safety certifications and come integrated with capabilities like wifi/ethernet/cellular connectivity, RFID authentication and intelligent load balancing. The company sees tremendous growth potential in North America, reflected in its recent opening of a Gigafactory manufacturing plant in Texas.
Wallbox: Charging Innovation Samples
- Pulsar Plus: World‘s smallest bidirectional charger at just 25 x 17 cm
- Supernova: First Fast & Smart DC Charger with vehicle-to-grid capability
- Electromaps: Offers real-time charger availability info to drivers
5. Allego Charges Up Europe
Valuation: $1.4 billion
Headquarters: Arnhem, Netherlands
Allego provides a rapidly growing network of EV charging solutions across Europe, serving a diverse mix of individual EV owners and professional fleet customers. It has over 28,000 public EV charge ports operational and aims to reach 100,000 by 2025.
Allego is ahead of the curve with its ultra-fast charging technology – its latest chargers offer up to 350 kW charging power that can deliver 100 miles of range in just 5 minutes. Allego‘s charging network uses 100% certified green energy.
The company offers integrated charging hubs with solar canopies, energy storage and vehicle-to-grid (V2G) interfaces. Allego also provides intuitive charging management software with real-time functionality. It went public in 2022 through a merger with Spartan Acquisition Corp III.
Allego Charging Infrastructure Growth
| Year | Operational Charge Ports |
|---|---|
| 2021 | 28,000 |
| 2025 (projected) | 100,000 |
Data Source: Allego
6. TGOOD: Leading China‘s EV Charging Infrastructure
Valuation: $1.02 billion
Headquarters: Shanghai, China
Chinese electric mobility giant TGOOD has installed over 370,000 EV charging piles to date, powering over 1 million EVs across 300 cities nationally. TGOOD offers comprehensive charging solutions spanning home chargers, public stations and managed charging services tailored to residential complexes, companies and commercial properties.
TGOOD is the designated official charging service provider for various Chinese government authorities. It also partners with automakers like Tesla, BMW and Volvo to offer an open, unified charging experience via its X Charge App.
TGOOD continues to rapidly scale up national infrastructure for EV charging as China leads global EV adoption. It aims to operate 570,000 charging piles capable of powering 3 million vehicles by 2025.
TGOOD Charging Infrastructure Scale
| Year | Charging Piles Installed | EVs Powered |
|---|---|---|
| 2021 | 370,000 | 1 million |
| 2025 (projected) | 570,000 | 3 million |
Data Source: TGOOD
7. Blink Charging Aims To Blanket America
Valuation: $998 million
Headquarters: Miami Beach, Florida, United States
Founded in 2009, Blink Charging owns and operates over 30,000 EV charging ports across 13 countries today. Blink offers Level 2 and DC fast charging hardware for residential, commercial, multifamily and municipal uses.
Its stations are compatible with all EVs currently available in the market. Blink is focusing on rapid domestic expansion through partnerships like with EnerSys to deploy charging across over 600 of their sites worldwide.
Blink stands out with its cloud connectivity and network capability. Drivers can easily locate Blink stations and check real-time status via its mobile app. Blink owners also leverage options like usage tracking, access controls, automated billing and maintenance notifications.
Blink Charging Growth
| Year | Charging Ports Deployed |
|---|---|
| 2021 | 30,000 |
| 2025 (projected) | 500,000 |
Data Source: Blink Investor Presentation
8. ADS-TEC Energy: Battery-Boosted Charging
Valuation: $384 million
Headquarters: Dublin, Ireland
Germany‘s ADS-TEC Energy is bringing battery-buffered charging technology to the forefront. Their charging systems contain built-in modular batteries so they can deliver ultra-fast charging without needing larger grid upgrades. This enables flexible deployment with charging capacities from 80 kW up to 320 kW.
The batteries provide bi-directional capability as well. Combined with smart charging software, ADS-TEC stations can prioritize charging when energy prices are lowest and discharge to provide power services.
ADS-TEC Energy is focusing its expansion efforts on Europe currently but has plans to enter North America imminently, starting with an order for 300 EV chargers from a top fleet operator in New York.
ADS-TEC Offerings
- Battery-buffered architecture: Enables ultra-fast charging anywhere
- Intelligent Cloud Platform: Optimizes charging for lowest rates
- Plug & Charge: Easy authentication via ISO 15118 vehicle connectivity
9. BP Pulse Targets 100K UK Charge Points
Valuation: $288 million
Headquarters: London, United Kingdom
Oil & gas giant BP entered the EV charging space in 2018 through BP Pulse, which today provides over 9,000 high-speed charging points across UK locations and over 16,500 slower charging points.
BP Pulse focuses its growing network of charging hubs at gas stations, shopping centers and other high-traffic areas like stadiums, hotels and cinemas. The charging points offer speeds ranging from 22-50 kW for slower overnight top-ups to 150-350 kW for ultra-rapid charging.
BP Pulse has plans to rapidly scale up UK‘s charging infrastructure, aiming for over 100,000 charge points by 2030. The long-term vision is to integrate convenient EV charging across BP‘s vast retail fueling network as the world transitions towards electric mobility.
BP Pulse UK Charging Growth
| Year | EV Charge Points |
|---|---|
| 2021 | 9,000 |
| 2030 (target) | over 100,000 |
Data Source: BP Pulse
10. Compleo Charges Up Europe
Valuation: $100 million
Headquarters: Dortmund, Germany
Germany’s Compleo has delivered advanced charging solutions for European e-mobility since 2009. It has supplied over 8,000 AC and DC charging stations across 25 countries so far. Compleo‘s robust charging stations boast features like touchscreen displays, RFID authentication and connectivity via LTE/4G, LAN or WLAN.
Compleo stands out with its comprehensive software offering to maximize uptime and utilization. Highlights include:
- Compleo Cloud OS: Enables monitoring, access control and billing management of charging infrastructure via desktop and smartphone app dashboards
- Compleo Analytics: Offers detailed tracking of usage metrics like charging frequency, duration and energy consumption for optimal capacity planning
- Compleo Eco: Smart charging interface to centrally manage load balancing across multiple charging stations
Compleo continues to expand across Central and Eastern Europe, with a recent partnership in Romania to install 88 fast charging stations covering 300 km of highways by 2024.
The Road Ahead: Where Next for EV Charging?
There is no doubt that the electric future has arrived, with EVs projected to represent over 60% of all vehicle sales globally by 2040 according to BloombergNEF. This tremendous shift must be matched by accessible, convenient and affordable charging facilities worldwide.
Auto manufacturers are competing fiercely on range capabilities, targeting 400+ mile ranges within this decade. This will enable longer trips while alleviating range anxiety – but only if robust fast charging networks are in place every 50-100 miles along highways and tightly integrated within urban hubs.
Key Trends Driving the Future of EV Charging
- Ultra-fast charging: 450-900+ kW networks for 15-30 minute recharges
- Vehicle-to-grid connectivity: Bidirectional power flows for grid stability
- Wireless charging: No cables required for safe and easy charging
- Renewables integration: Solar canopies and energy storage at hubs
- Smart charging platforms: Centralized optimization of power loads
- Super apps: Unified dashboards for routing, charging and payments
As consumer awareness and EV adoption continues accelerating globally, governments and corporates need to urgently tackle range anxiety by investing ahead of demand.
An open ecosystem approach via partnerships between charging networks, automakers, real estate players and power utilities is key to developing the infrastructure for the electric future. With intense activity in unlocking multi-hour ultra-fast charging, wireless charging, battery swapping modular architecture and next-gen fast charging material science leveraging gallium nitride, the EV charging arena promises to remain an exciting space driving sustainable mobility innovation worldwide.
