FRANKFURT -- The number of public charging points needed by electric vehicles in Germany could jump more than tenfold and the value of the market for power sales could surge as much as 23 percent by 2030, researchers Boston Consulting Group (BCG) said.
Keen to cut emissions from transport by expanding the use of EVs, policymakers in Europe's biggest economy launched a 3-billion-euro ($3.61 billion) scheme last November to support sales of EVs and related equipment.
Currently, there are about 35,000 charging points available for EV users that seek public loading facilities in addition to workplace or home charging, BCG noted in the Germany part of a Europe-wide sector study.
Electricity sales for private and public EV charging needs put together are currently worth 300-500 million euros per year.
But by 2030, the number of charging points could increase to 400,000 and annual sales values to 7 billion euros, said Christian Wagener, one of the authors.
"A billion euros market is emerging, with attractive growth opportunities," he said.
The report, "Winning the Battle in the EV Charging Ecosystem," said owners of residences with private charging boxes were taking advantage and driving the initial rollout of EVs.
Later on, there would be a shift to more public charging as car users' behavior patterns change.
By 2030, some 40-50 percent of power would be supplied by public chargers as opposed to one third at the moment, BCG said.
Rather than making targeted visits to gasoline stations, EV users would combine opportunities for loading or topping up power with shopping or leisure activities.
Major oil companies could play a big role in the shift, with conventional filling stations rethinking current offerings while utility companies focus on digitizing power flows and billing, to try and secure their space in the new set-up.