Author: Natasha Matthews
June 12, 2025 - 6 MIN. READ
Key takeaways:
- With 28 million EV charging ports needed by 2030, there is a strong market for electrical contractors.
- EV drivers need chargers in their homes, and there is also a growing market for charging for private fleets, public transit, and more.
- However, opportunities can vary locally, and you should research the market.
- Raiven's Electrification Store is a powerful tool for sourcing electrification supplies at discounted prices.
By 2030, America will need 28 million EV charging ports. Over the next five years, thousands of new installations will be required daily. The question isn't whether this market will explode; it's whether you'll be ready for it.
Twenty years ago, the electrical contractors focused on solar installation saw this strategy pay off when the market exploded. The same window is opening for EV charging, and now is the perfect time to enter this market.
The data tells us what the EV charging market and its future mean for your business.
The Future of the EV Charging Market
We know the future of EV adoption from projections, which vary depending on the source. Government incentives, increased access to EV charging, and gas and electricity prices could make them obsolete or correct.
EV sales are growing steadily. In 2023, electric vehicles accounted for 7.8% of all new sales. This percentage went up to 8.1% in 2024, and experts believe it could reach 10% in 2025.
It can seem like slow growth, but it’s important to remember that volume is up. Eight percent of car sales for 2024 represented 1.3 million EVs, and as the rate of EV adoption and car sales volumes continue growing, we could see as many as 33 million EVs on the roads by 2030.
This projected surge in EV adoption will create a massive charging challenge as millions of new EV drivers need a spot to plug in. For 100% of EV owners, charging at home is currently the preferred method since it’s affordable and convenient. If there are 33 million EVs, homes and multifamily buildings would need over 26 million private chargers.
The country’s public EV charging network is also growing fast to support this level of EV adoption:
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States are rolling out EV charging along major highways.
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Many cities have invested in public charging.
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Destination and hospitality businesses are increasingly offering EV charging as a perk.
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Third-party EV charging networks are on the rise.
These numbers paint a promising future for the electrification of transportation. Still, it’s essential to understand the factors shaping your local market so you can make some plans for your business:
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Some states have more EVs than others due to incentives and energy prices. California, Texas, and Florida are leaders in EV adoption and represent strong markets, but states that are behind could catch up in the near future and represent strong opportunities.
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Younger urban residents are more likely to drive EVs. Large cities are promising markets with several urban areas growing in size and attracting young Gen Z professionals (especially in the Southeast).
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Experts also believe the EV charging market will grow in suburban areas (which could account for 60% of EV chargers by 2030). This is consistent with Millennials' preference for small-town living.
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There is also a huge market for multifamily EV charging, with more than a third of Americans renting their home. Legislation and building codes are making EV charger installations easier in these buildings.
Electrification opportunities for contractors are growing fast, but engaging in local research will give you a better idea of your regional market and help you determine whether the residential, multifamily, or private fleet charging market is most profitable.
Opportunities Beyond Charging At Home
Installing Level 2 chargers in homes is a great entry point for the EV charging market since you can get started with an EVITP certification and minimal upskilling.
These jobs will open up new possibilities for you, including other markets with long-term opportunities and a possibly larger ROI.
Public Transit
Electrification is not just for personal vehicles. Cities like Chicago, Denver, Boise, and Seattle already have electric buses, and light e-mobility solutions like e-bike and e-scooter rentals are growing fast.
The electrification of public transit also extends to electric trams and trains and large-scale transportation hubs where charging is available for multiple vehicle types.
Private Fleets
Growth is also happening in the private EV charging market. Businesses are going electric on different levels, including offering charging to their customers and employees, but there are some exciting opportunities with fleet charging.
Electric fleets are gaining momentum, with 14% of fleets already using EVs in some capacity. This percentage could grow to 43% within the next five years, and fleet operators who already rely on EVs report lower operating costs and high satisfaction levels, which justifies investments in charging infrastructure.
Currently, there are opportunities in industries like deliveries, home services, car rentals, tax services, and more. As electrification technologies evolve, the electrification of medium and heavy freight will emerge as a new market for skilled electrical contractors.
EV Charger Maintenance, Replacements, and Repair Opportunities
Installing EV chargers means you're naturally creating a local market for maintenance and repairs. Besides offering maintenance plans as part of an installation bundle, you can use a maintenance-focused business model to grow:
- If your business isn’t quite ready to scale up and install EV chargers for major fleets or public projects, you can still partner with these large players by offering maintenance.
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Maintenance plans are a source of passive income for your business. They create stability and allow you to invest in other areas for growth (including upskilling and workforce training).
- Demand for maintenance and repair is high. Finding a maintenance partner is a challenge for many EV drivers and businesses with EV fleets. Reliability and charger uptime are challenges for public charging stations.
Discover Raiven’s Electrification Store
For electrical contractors, pursuing electrification opportunities now creates a path for growth and allows you to establish yourself as a local leader. You'll need reliable access to the right supplies at the correct prices to capitalize on these electrification opportunities.
Raiven is here to help you on this journey with a resilient digital supply chain network built for innovation. The Raiven Electrification Store instantly connects you to vendors who offer electrification supplies, with the added benefits of the savings negotiated by Raiven and a streamlined buying process.
Raiven can also help you set up your e-store, a customizable storefront where you can sell EV chargers and get 50% of the profits, while Raiven handles order fulfillment. You’re helping your customers save money and promoting your installation services!
The benefits don’t stop at electrification supplies.
Stop wasting time and money on inefficient procurement. As a Raiven member, you’ll get access to:
- Our procurement platform. Manage vendors and accounts with one convenient digital tool.
- Price tracking. Find the best prices on the supplies you need.
- Exclusive cost savings. Raiven pre-negotiates prices, cutting your costs by up to 15%.
- A thriving community. Join a fast-growing group of 2,500+ contractors ready to innovate.
Visit Raiven to learn more about saving on electrification supplies.
