Bulgaria’s electric vehicle (EV) infrastructure market is set for exponential growth, with projections estimating a rise from $81.09 million in 2024 to a staggering $1,981.33 million by 2040, according to a recent report published by Allied Market Research. This translates to a robust compound annual growth rate (CAGR) of 22.26% over the forecast period, powered by strong government initiatives, rising EV adoption, and expanding investments in advanced charging solutions.
Government Incentives Fuel Market Momentum
Subsidies, tax benefits, and funding from the European Union are playing a pivotal role in encouraging both public and private entities to invest in EV charging infrastructure. With increasing concern over carbon emissions and the need for sustainable urban mobility, the Bulgarian government is actively supporting the deployment of charging stations across residential and commercial zones.
Segment Highlights:
- Slow Chargers Dominate, But Fast Chargers Accelerate:
In 2024, slow chargers accounted for over 75% of the market share due to their affordability, ease of installation, and suitability for residential charging. However, the fast charger segment is gaining pace with a projected CAGR of 21.40%, fueled by demand from urban commuters and commercial fleet operators needing quicker turnaround times. - Fixed Installations Lead, Portable Chargers Rise:
Fixed EV chargers, preferred for their reliability and compatibility with home and office setups, held over two-thirds of the market in 2023. Nonetheless, the portable segment is poised to grow rapidly (CAGR 21.60%), owing to its convenience and popularity in rural and mobile settings. - CCS Connector Technology Outpaces Alternatives:
The Combined Charging System (CCS) segment held more than 60% market share in 2023 and is expected to witness the highest CAGR of 22.56%. Its ability to support both AC and DC charging, along with backing from European automakers, makes it a versatile and future-proof solution. - Private Deployment Leads, Public Infrastructure Expands:
The private deployment segment—dominated by home and workplace charging setups—held over two-thirds of market revenue in 2024. However, public infrastructure is catching up fast, with a projected CAGR of 22.97%, supported by city-wide station rollouts and highway corridor development. - Residential Applications Prevail, Commercial Segment Soars:
Residential use captured more than 75% of market revenue in 2024, driven by incentives and a growing base of personal EV users. Still, the commercial segment is expected to lead in growth (CAGR 25.44%), with businesses electrifying their fleets and increasing workplace charging availability. - BEVs Continue to Rule, PHEVs Pick Up Speed:
Battery Electric Vehicles (BEVs) contributed to over 80% of the market in 2024, buoyed by zero-emission benefits and favorable policy support. Plug-in Hybrid Electric Vehicles (PHEVs), however, are expected to grow at a CAGR of 23.88%, reflecting consumer preference for flexible powertrains and reduced range anxiety.
Key Players Driving Market Innovation
Prominent players shaping Bulgaria’s EV infrastructure landscape include Tritium DCFC, Delta Electronics, Tesla Inc., ABB Ltd., Siemens, Schneider Electric, Eaton, Webasto Group, Eldrive, EVpoint, and Fines Charging. These companies are strategically expanding their operations and product offerings through new launches and infrastructure partnerships.
As Bulgaria accelerates its transition toward clean energy and sustainable transport, the electric vehicle infrastructure market stands at the forefront of the nation’s green revolution.
