Europe and China will need more than 150 million charging stations by 2035

On May 20, PwC released the "Electric Vehicle Charging Market Outlook" report, which showed that with the increasing popularity of electric vehicles, Europe and China have a demand for charging infrastructure. The report predicts that by 2035, Europe and China will need more than 150 million charging piles and about 54,000 battery swap stations.

The report shows that the long-term electrification goals of light vehicles and medium and heavy vehicles are clear. By 2035, the ownership of light electric vehicles below 6 tons in Europe and China will reach 36%-49%, and the ownership of medium and heavy electric vehicles above 6 tons in Europe and China will reach 22%-26%. In Europe, the new car sales penetration rate of electric light vehicles and electric medium and heavy vehicles will continue to grow, and is expected to reach 96% and 62% respectively by 2035. In China, driven by the "dual carbon" goal, by 2035, the new car sales penetration rate of electric light vehicles and electric medium and heavy vehicles is expected to reach 78% and 41% respectively. The application scenarios of plug-in hybrid vehicles in China are clearer than in Europe. Generally speaking, the battery capacity of mild hybrid vehicles in China is larger, which means that the need for charging is more significant than in Europe. By 2035, China's overall car ownership growth is expected to be higher than that in Europe.

Harold Weimer, PwC's global automotive industry lead partner, said: "At present, the European market is mainly driven by medium-priced B- and C-class passenger cars, and more new electric models will be launched and mass-produced in the future. Looking ahead, more affordable B- and C-class models will gradually increase and be accepted by a wider range of consumer groups.

For the development of electric vehicles in Europe, it is recommended that the industry start from four key aspects to cope with short-term changes. First, accelerate the development and launch of affordable and well-selected electric models; second, reduce concerns about residual value and the second-hand electric vehicle market; third, accelerate network expansion and improve charging convenience; fourth, improve charging user experience [https://www.cngreenscience.com/factory-made-hot-sale-china-15kw-mobile-dc-battery-powered-charger-for-electric-vehicle-use-product/] including price."

The report predicts that by 2035, the charging demand in Europe and China will be 400+ terawatt hours and 780+ terawatt hours respectively. In Europe, 75% of the charging demand for medium and heavy-duty vehicles is met by self-built dedicated stations, while in China, self-built dedicated station charging and battery replacement will dominate, covering 29% and 56% of electricity demand respectively by 2035. Wired charging is the mainstream charging technology for electric vehicles [https://www.cngreenscience.com/oem-dc-ev-charger-30kw-with-gbt-plug-product/]. Battery swapping, as a supplementary form of energy replenishment, has been first applied in China's passenger car sector and has potential for application in heavy trucks.

There are six major revenue sources in the electric vehicle charging [https://www.cngreenscience.com/contact-us/] value chain, namely: charging pile hardware, charging pile software, sites and assets, power supply, charging-related services and software value-added services. Achieving profitable growth is an important agenda for the entire ecosystem. The report reveals that there are seven ways to participate in the competition in the electric vehicle charging market.

First, sell as many charging devices as possible through various channels and use functions such as smart marketing to monetize the installed base during the asset life cycle. Second, as the promotion of electric vehicle charging hardware equipment continues to expand, increase the penetration of the latest software on the installed equipment and pay attention to usage and integrated pricing. Third, generate revenue by leasing sites to charging network operators, taking advantage of consumer parking time, and exploring shared ownership models. Fourth, install as many charging piles as possible and become a service provider for customer support and hardware maintenance. Fifth, as the market matures, obtain sustainable revenue sharing from existing participants and end users through software integration. Sixth, help landowners realize cash by providing complete charging solutions. Seventh, ensure that there are as many sites as possible to maximize power throughput while maintaining power profitability and service costs for the entire charging network.

Media Contact
Company Name: SICHUAN GREEN SCIENCE TECHNOLOGY CO., LTD
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=europe-and-china-will-need-more-than-150-million-charging-stations-by-2035]
Country: China
Website: https://www.cngreenscience.com/



This release was published on openPR.