Market drivers include increased adoption of EVs, government initiatives and technological advances
BOULDER, Colo., Aug. 6, 2025 /PRNewswire/ — A new report from Guidehouse Research explores the global market for residential EV chargers.
Over the next 10 years, the market for residential EV chargers is expected to experience growth mirroring the EV adoption that manufacturers, governments, regulators, and the environmental community are encouraging. According to a new report from Guidehouse Research, the global value of the residential EV charging market is expected to grow at a compound annual growth rate (CAGR) of 21.2% to from $13.2 billion in 2024 to $74.7 billion in 2033.
“As EV adoption continues to rise globally, more EV chargers must be installed in single-family and multifamily homes so that EV owners do not need to rely solely on public charging stations,” says Bitania Yemane, research analyst with Guidehouse Research. “Smart charging features such as Wi-Fi connectivity and renewable energy integration are making chargers even more efficient and convenient for homeowners.”
A major part of EVs’ widespread adoption is the implementation of public charging stations, which are essential for addressing the very real concerns about range anxiety that many potential EV customers cite as a market barrier.
Other barriers to residential EV chargers include high costs for the charger and its installation, grid compatibility, and a residence’s electrical system government incentives to promote these installations will drive the residential EV charging market forward into the next decade. To increase adoption, industry players must implement educational and outreach programs that improve customer awareness. They must also prioritize partnerships and collaboration efforts to bridge the gap between stakeholders, such as EV automakers and EV charger manufacturers, to address barriers like compatibility and consumers awareness, according to the report.
The report, Residential EV Charging, focuses on the EV charger market, including the technology, EV owners’ charging habits, market drivers and barriers, and the industry value chain. Global analyses for five geographic areas (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) cover the 10-year outlook period of 2024-2033. An executive summary of the report is available for free download on the Guidehouse Research website.
About Guidehouse ResearchGuidehouse Research, the dedicated market intelligence arm of Guidehouse, provides research, data, and benchmarking services for today’s rapidly changing and highly regulated industries. Our insights are built on in-depth analysis of global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research, and demand assessment, paired with a deep examination of technology trends, to provide a comprehensive view of emerging resilient infrastructure systems. Additional information about Guidehouse Research can be found at guidehouseresearch.com.
About Guidehouse
Guidehouse is a global AI-led professional services firm delivering advisory, technology, and managed services to the commercial and government sectors. With an integrated business technology approach, Guidehouse drives efficiency and resilience in the healthcare, financial services, energy, infrastructure, and national security markets. Built to help clients across industries outwit complexity, the firm brings together approximately 18,000 professionals to achieve lasting impact and shape a meaningful future. guidehouse.com
* The information contained in this press release concerning the report, Residential EV Charging, is a summary and reflects the current expectations of Guidehouse Research based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Guidehouse Research nor Guidehouse undertakes any obligation to update any of the information contained in this press release or the report.
For more information, contact:
Cecile Fradkin for Guidehouse Research
+1.646.941.9139
[email protected]
SOURCE Guidehouse Research