Europe and China to Require Over 150 Million Charging Stations by 2035

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Europe and China to Require Over 150 Million Charging Stations by 2035

On May 20, PwC released the “Electric Vehicle Charging Market Outlook” report, highlighting the increasing demand for charging infrastructure in Europe and China driven by the rising popularity of electric vehicles (EVs). The report estimates that by 2035, Europe and China will need over 150 million charging stations and approximately 54,000 battery swap stations.

Key Findings from the PwC Report

The report provides a clear long-term electrification target for both light and medium-heavy vehicles. By 2035, the ownership of light electric vehicles (under 6 tons) in Europe and China is expected to reach 36%-49%, while the ownership of medium-heavy electric vehicles (over 6 tons) is projected to be 22%-26%. In Europe, the penetration rate of new electric light and medium-heavy vehicles will continue to grow, reaching 96% and 62% respectively by 2035. In China, driven by the “dual carbon” goals, the penetration rate for new electric light and medium-heavy vehicles is expected to reach 78% and 41% respectively by 2035.

Charging Infrastructure Needs

The report anticipates that the charging demand in Europe and China will be over 400 terawatt-hours and 780 terawatt-hours respectively by 2035. In Europe, 75% of the charging demand for medium-heavy vehicles will be met by self-built dedicated stations. In China, self-built dedicated station charging and battery swapping will dominate, covering 29% and 56% of the demand respectively by 2035. Wired charging remains the mainstream technology for electric vehicle charging, while battery swapping is a supplementary method, already applied in the passenger car sector in China and showing potential in heavy trucks.

Revenue Sources in the EV Charging Value Chain

The EV charging value chain has six major revenue sources: charging hardware, charging software, sites and assets, power supply, charging-related services, and software value-added services. Achieving profitable growth is a crucial agenda for the entire ecosystem. The report reveals seven ways to compete in the EV charging market:

  1. Sell as many charging devices as possible through various channels, leveraging smart marketing to profit throughout the asset lifecycle.
  2. Increase the penetration rate of the latest software on installed devices, focusing on usage and integrated pricing as the adoption of EV charging hardware expands.
  3. Generate revenue by leasing land to charging network operators, utilizing consumer parking time, and exploring shared ownership models.
  4. Install as many charging stations as possible and become a service provider for customer support and hardware maintenance.
  5. As the market matures, generate sustainable revenue shares from existing participants and end-users through software integration.
  6. Help landowners monetize by offering comprehensive charging solutions.
  7. Maximize power throughput across as many sites as possible while maintaining profitability and service costs of the entire charging network.

Future Developments and Opportunities

Harold Weimer, PwC’s Global Automotive Industry Leader, stated: “Currently, the European market is driven by mid-priced B-class and C-class passenger cars. In the future, more new electric vehicle models will be launched and mass-produced. Affordable B-class and C-class models will gradually increase and be accepted by a broader consumer base. For the development of electric vehicles in Europe, the industry should focus on four key aspects to address short-term changes: accelerate the development and launch of affordable and diverse EV models, reduce concerns about residual value and the second-hand EV market, expand the network to improve charging convenience, and enhance the charging user experience, including pricing.”

Jin Jun, PwC China Automotive Industry Leader, added: “EV charging can be applied in a broader ecosystem, further unlocking its value. EV charging stations will increasingly integrate with distributed storage and the grid, and can be optimized within a broader energy network to tap into the evolving energy flexibility market. We will collaborate with clients in the charging and swapping industry to explore how to seek profit growth in the rapidly expanding and competitive EV charging market.”


The rapid growth in electric vehicle adoption is driving a significant demand for charging infrastructure in both Europe and China. By 2035, the combined need for over 150 million charging stations and 54,000 battery swap stations highlights the critical role that effective and extensive charging solutions will play in supporting the transition to electric mobility. With strategic planning and innovation, stakeholders can capitalize on the vast opportunities within the EV charging ecosystem.

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