Electric Vehicle Charging Market About to Take a Leap

The electric vehicle charging market in Hungary is also looking promising, but the really spectacular development will only start afterwards, the international consultancy firm KPMG has warned, based on a study of its own.

According to the summary sent to MTI, there is a huge business opportunity in electric vehicle charging worldwide due to the surge in demand for such cars. Global investor interest is growing, with preliminary estimates suggesting that USD 2.3 billion will have flowed into the sector by the end of 2022.

Sales of electric cars are expanding dynamically, partly due to environmental concerns and partly due to rising fuel prices, but access to charging will be a key factor for further growth, KPMG said.

According to the statement, the Hungarian market has also seen noticeable growth, with the number of publicly available charging options increasing by 120% from 2020 to 2021, exceeding the global growth average.

The total number of public charging points on September 30, 2022 was 3,579, the second highest among the Visegrád countries behind the Czech Republic's 3,915, but still lagging far behind Austria, where 21,566 charging points are available.

KPMG also added that Hungary had less than half of the 8,100 units target set by domestic policy for 2025.