The report covers EV sales, the market ecosystem, myths busted, predictions for the next five years and a look forward, including new policies and sustainability progress. - Image: ChargePoint

The report covers EV sales, the market ecosystem, myths busted, predictions for the next five years and a look forward, including new policies and sustainability progress. 

Image: ChargePoint

ChargePoint today announced the publication of its 2022 Charging Forward Report, providing businesses, fleets, and property owners with a broad look at how they can participate in the new fueling network. The report reviews the EV industry over the last five years, ChargePoint’s predictions for the next five years and beyond, and the key factors ChargePoint believes is driving EV adoption across North America and Europe. 

According to the company, this year’s Charging Forward revisits bold predictions made in the 2017 edition when ChargePoint offered its five-year market outlook, successfully projecting industry growth and a broader commitment to electric vehicles at a global level. According to BloombergNEF data, global passenger EV sales more than doubled from 2020 to 2021, and as of last year, every one in 10 new vehicles sold was an EV. 

Charging Forward also outlines ChargePoint’s predictions for the coming years, including a global tipping point for EV adoption within the next decade, rapid growth in home charging adoption, as well as broader positive impacts ChargePoint anticipates the shift to electrification will have on everyday lives. 

Among some of the report's findings:

  • BNEF predicts that passenger EV sales will exceed 14 million in 2025, an increase of more than 100% from 2021.
  • EV sales across the United States and Canada grew by more than 90% YoY and over 60% YoY in Europe, reaching over 3 million EVs cumulatively sold across the two regions.
  • Over 80% of charging worldwide takes place at home.
  • An average EV owner can expect to save $9,000 in fuel costs and $4,600 on maintenance over the 200,000-mile lifetime of an EV.
  • Since 2007, ChargePoint has delivered over 113 million charges, equivalent to 3.6 billion miles driven on electricity and counting.

“We believe mobility is in the midst of its greatest transformation in generations, and mass EV adoption is closer today than ever before,” said Colleen Jansen, chief marketing officer, ChargePoint. “Charging Forward provides business, fleets, property owners, and drivers with a broad look at how the market has grown, where it stands today, where ChargePoint believes it’s going in the next five years, and responds to many of the common myths facing the industry. As more industries and consumers embrace EVs, we believe the greater the need for hardware and software solutions that ensure everyone who needs to charge has access."

In the last five years, automakers have embraced the shift toward electric mobility, making significant investments to develop and produce new EV models. In the same time period, ChargePoint grew its network in line with driver demand to simplify the transition to electric mobility, according to the news release. Today, a driver plugs in to the ChargePoint network every second or less. Additionally, major fleet operators have invested in fleet electrification, driving growth in sessions delivered on the ChargePoint network to electric fleets by more than 200% since 2017, the announcement noted.

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