• In Europe, the number of BEV registrations is forecasted to grow from approximately 4 million in 2025 to 9-10 million in 2030, corresponding to an average annual growth rate (CAGR) of over 20%. At the same time, the share of BEV’s of new vehicle sales is forecasted to grow to 30-35% in 2030 from 13% in 2025.
• In North America, the number of BEV registrations is forecasted to grow from approximately 0.3 million in 2025 to 1.2 million in 2030, corresponding to an average annual growth rate (CAGR) of over 30%. At the same time, the share of BEV’s of new vehicle sales is forecasted to grow to 25-30% in 2030 from 8% in 2025.

Source: Kempower analysis based on IEA Global EV Outlook reports and Bloomberg NEF

In 2025, Kempower’s total addressable DC fast charging market (Europe, North America and Asia-Pacific, excluding China) was approximately EUR 4.5 billion. It is expected to grow to over EUR 10 billion in 2030. This corresponds to an annual average growth (CAGR) of 10-25% p.a. in 2025-2030.

Source: Kempower estimates and external sources

The main drivers for the growth in EV adoption and thus the DC fast charging market are:

• Lower cost of ownership of BEV’s supporting electric vehicle adoption
• Stricter CO₂ emissions regulations driving electrification
• Investments in charging infrastructure supported by sustained public and private investment funding
• Growing focus on energy security and sustainability