The US electric vehicle (EV) charging sector saw a significant shift in 2024, with DC fast-charging point installations recording a double-digit year-on-year increase and accounting for one-third of all new public charging installations — a record high, according to Counterpoint Research report.
The acceleration in fast-charger deployment reflects broader momentum in the EV ecosystem. Total public EV charging point installations in the US rose 12 percent in 2024, in line with the rising adoption of passenger EVs. Federal and state incentives under the Inflation Reduction Act played a pivotal role by supporting both individual EV adoption and enterprise fleet electrification.
“The most notable aspect is the steep rise in DC fast-charging points — this is the indicator we are focused on and it confirms a robust medium to long-term outlook,” said Liz Lee, Associate Director at Counterpoint Research.
The market’s progress was also supported by expanding collaborations between charging operators and automakers.
EVgo, in partnership with General Motors, ramped up its fast-charging footprint and secured conditional backing of up to $1.25 billion from the US Department of Energy to deploy 1,100 high-power charging stations by 2029.
Similarly, Electrify America expanded its fast-charging network by 30 percent, adding approximately 1,400 chargers and recording a 50 percent YoY increase in charging sessions.
Greg Basich, Associate Director at Counterpoint Research, said, “Range anxiety is arguably the biggest hurdle to EV sector growth. Battery tech may evolve gradually, but innovation in charging speed and infrastructure expansion significantly boosts confidence in EV adoption.”
With growing consumer demand, robust government support, and increasing operator-OEM partnerships, the US EV charging landscape is poised for continued expansion, with fast charging at the heart of the strategy.
GreentechLead.com News Desk