The EV market is growing every year with auto makers and tech companies innovating new ways to improve electric vehicles and EV charging stations. Plus, the government is offering many programs to help stimulate the public to install public and private EV charging stations. There are also efforts being made on a state and federal level to ensure public charging stations are available on popular driving routes like highways and interstates. The amount of EV charging station availability still isn’t enough to supplement the expanding market, according to a report by S&P Global Mobility.
“The transition to a vehicle market dominated with electric vehicles (EVs) will take years to fully develop, but it has begun,” said S&P Global Mobility analyst Ian McIlravey. “With the transition comes a need to evolve the public vehicle charging network, and today’s charging infrastructure is insufficient to support a drastic increase in the number of EVs in operation.”
The number of electric vehicles is growing rapidly, possibly too fast for the EV charging stations to be able to keep up. In 2025, there may be an estimated 7,8 million EVs in operation. It’s estimated that there are around 126,500 level 2 charging stations and over 20,000 level 3 charging stations, plus almost 17,000 Tesla charging stations. S&P has estimated that by 2027, there will be a need for 1.2 million level 2 charging stations and 109,000 level 3 charging stations nationally.
States across the country are taking part in the efforts to increase the EV charging stations across the country. Thirty-five of the states have enrolled in programs for federal funds to be distributed to their state that are designated for EV charging efforts. California, Texas, Florida, and New York are leading in the number of electric vehicles in operation. California has been one of the leading states in EV charging station efforts and availability.