Forget fighting for a public charger spot — by 2040, most EV drivers will just be plugging in at home. According to Wood Mackenzie’s new forecast, global EV charging ports are expected to soar to 206.6 million by 2040. And the real MVP? Home charging.
Home charging wins because it’s convenient, cost-effective, and future-proof. You plug in at night and wake up to a full “tank,” no detours required. Level 2 chargers hit the performance sweet spot — fast enough for most drivers and far cheaper than relying on public fast charging. And just like granite countertops were once the must-have home feature, a built-in charger is quickly becoming a selling point that boosts resale value. As analyst Emil Koenig explains, residential Level 2 charging “hits the balance that resonates most strongly with EV owners.
Expect more EVs per public charger: from 7.5 per charger today → 14.2 by 2040.
Fast chargers (DC) will still grow in hotspots, but efficiency and utilization will mean fewer are needed per car.
In the U.S., public fast charging is forecast to grow 14% annually, hitting 475,000 ports by 2040. That’s a big buildout — but it’s still nothing compared to the millions of driveways and garages where Americans will charge at home.
Americas: In the U.S., home charging will dominate. Expect utilities and homeowners to spend billions upgrading electrical panels and adding Level 2 ports. South America’s residential growth is even faster — 22% annually.
Europe: 57 million residential chargers on the horizon, plus strong commercial growth.
Middle East: Saudi Arabia is sprinting, with DC charging forecast to grow nearly 29% per year.
In the U.S., this isn’t just about plugs — it’s about housing. Homeowners with garages or driveways will find EV charging to be a new selling point. Renters and urban dwellers will need landlords and cities to step up with shared charging solutions. By 2040, charging won’t just be part of driving — it’ll be part of real estate, utilities, and everyday life.
For drivers: If you own a home, a Level 2 charger is one of the smartest upgrades you can make. For renters, ask landlords what their plan is — it’ll soon be as important as parking itself.
For automakers: Affordable EVs won’t sell without convenient charging. Expect bundled “charger + car” packages to become the norm.
For utilities: Residential charging is about to reshape demand curves. Smart grid tech and incentives will be key to keeping the lights on while millions of EVs plug in overnight.
For the planet: $300B in global charging investment is a direct bet on electrification sticking around.
The takeaway: By 2040, American driveways and garages will be the real EV refueling stations. Public charging will still matter — but in the U.S., home charging is set to rule the road.
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Published August 25, 2025 12:52PM
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