Wood Mackenzie has just released its latest report on electric vehicle charging infrastructure, and the findings are nothing short of exciting. Around the world, charging networks are expanding at an incredible pace — but one country in particular is stealing the spotlight: Saudi Arabia.
According to the study, the Kingdom is set to become one of the fastest-growing markets for EV charging anywhere on the planet. Between 2026 and 2040, the number of charging points across Saudi Arabia is expected to grow at an astonishing 29% annually, more than double the global average of 12.3%. That kind of growth tells us one thing — Saudi Arabia isn’t just following the shift to electric mobility, it’s racing ahead to lead it.
A global surge powered by home charging
On a worldwide scale, the numbers are equally impressive. By 2040, we could see over 206 million charging points in operation, with home chargers continuing to dominate — about 133 million of them installed in residences. At the same time, annual spending on charging infrastructure is set to climb steadily, reaching a massive $300 billion by 2040.
What the experts are saying
Oliver McHugh, Senior Analyst at Wood Mackenzie, explained it this way:
“As people rely more on public charging and infrastructure gets more efficient, each charging port will need to serve more EVs — rising from 7.5 cars per charger in 2025 to about 14 cars by 2040.”
His colleague Emil Koenig added another key point:
“Level 2 home charging is here to stay. By 2050, two out of every three charging points worldwide will be Level 2, because it strikes the perfect balance between convenience, performance, and cost.”
Regional highlights
Asia-Pacific: No surprise here — China remains the powerhouse of EV charging growth. Fast DC charging is expected to grow nearly 10% each year, while India is preparing for a giant leap from just 14,000 fast chargers today to 1 million by 2040.
Americas: The U.S. is also making strides, with its fast-charging sector expected to expand by 14% annually, hitting 475,000 ports by 2040. South America will follow a different path, with residential charging surging by 22% a year and regional investment reaching $2 billion.
Europe, Middle East, and Africa (EMEA): Europe’s growth will be steady, with public charging up 3% annually and fast charging rising at 13.7%. By 2040, Europe should host around 57 million home chargers. But the real standout in the region is Saudi Arabia, where fast charging is projected to surge at 29% annually — a pace unmatched in the Middle East. By the same year, spending across EMEA will hit $14 billion for public charging and $30 billion for home-based infrastructure.
