Market Research Report
Electric Vehicle Fast-Charging System Market-A Global & Regional Analysis:Focus on DC Fast Charging (Public & Private), Connector Type (Combo Charging, GB/T, CHADeMO, Supercharger), Power Output of the DC charger System-Analysis & Forecast, 2020-2025
|Published by||BIS Research Inc.||Product code||962881|
|Published||Content info||182 Pages
Delivery time: 1-2 business days
|Electric Vehicle Fast-Charging System Market-A Global & Regional Analysis:Focus on DC Fast Charging (Public & Private), Connector Type (Combo Charging, GB/T, CHADeMO, Supercharger), Power Output of the DC charger System-Analysis & Forecast, 2020-2025|
|Published: September 24, 2020||Content info: 182 Pages||
"The global electric vehicle fast-charging system market accounted for 133,992 fast-charging systems installed in 2019 and is expected to reach 226,857 by 2025."
ABB, Blink Charging Co., BP Chargemaster Ltd, Broadband TelCom Power, Inc., ChargePoint Inc., Delta Electronics, Inc., Efacec Electric Mobility , Signet EV Inc., EVBox, ShenZhen SETEC Power Co., Ltd., Siemens, Star Charge, Tesla Inc., Tritium Pty Ltd, Xi'an TGOOD Intelligent Charging Technology Co., Ltd.
The growing demand for electric vehicles is directly spurring the direct current (DC) fast-charging infrastructure industry. DC fast-charging infrastructure is mushrooming with the ever-increasing demand for high power and less time-consuming charging system. A typical AC charger could take 6-10 hours for charging an electric vehicle. Due to the small battery size of electric vehicles, they needed to be charged fast around a couple of minutes to remain on the road for a longer period. The need for fast chargers rose with the growing demand for EVs and their capacity to handle high power and current supply. New advanced models of EVs can be charged by a DC fast charger greater than 22 KW and can take up to 250 KW depending on the EV models launched by December 2019. Ultra-high-power chargers (>250 KW) are generally used for heavy-duty vehicles, passenger vehicles, electric buses, and e-trucks. Several companies, such as Tritium Pty Ltd and ABB, are focusing on ultra-high-power charging system driven by the demand for and production of new EV models for passenger vehicles, e-buses, and e-trucks to be charged faster than a typical 50-100 KW DC fast charger.
The market research study caters to a wide perspective of the different types of fast-charging systems and applications pertaining to the electric vehicle fast-charging system market. The report further analyzes its impact on different regions by providing critical insights into the direction of its future expansion.
The study dwells into various types of connectors, such as combo, CHADeMO, superchargers, and GB/T for electric vehicles of different regions. The study is further segmented into application, divided into public and private charging. The EV fast-charging system is also categorized on the output power ranges of the DC fast charger. The report identifies fast chargers above 22 KW power output range. The data tables and figures represent a number of new fast chargers that are being installed every year. The numbers are not cumulative.
The global electric vehicle fast-charging system market accounted for 133,992 fast-charging systems installed in 2019 and is expected to reach 226,857 by 2025. The market is anticipated to grow at a CAGR of 10.37 during the forecast period 2020 to 2025. The market growth is mainly attributed to the rising number of government policies for electric vehicles,better availability of charging infrastructure,and minimizing carbon dioxide emissions. In addition, governments are coming up with awareness initiatives and incentives to encourage the adoption of electric vehicles, which is expected to drive market growth during the forecast period.
The global EV fast-charging system market's competitive landscape consists of different strategies undertaken by key players across the e-mobility industry to gain traction and market share presence. Some strategies adopted by fast charger system manufacturers are new product launches, business expansions, mergers, partnerships, and collaborations. Among all these strategies adopted, partnerships and collaborations have led the popular choice of the strategy implemented in the EV fast charger system's competitive landscape. Some of the most prominent ecosystem players are ABB, BTC Power, Tritium Pty Ltd, Star Charge, and Efacec Electric Mobility. For instance, in March 2020, Tritium Pty Ltd collaborated with Pod Point to supply a 50KW DC fast-charging system to deploy EV charging stations in the U.K.
Product Launches are another preferred strategy adopted by the market players to enhance their product offerings and global footprint. For instance, in March 2019, Tesla, Inc. introduced the third generation of Supercharger called V3 Supercharger for Tesla, Inc. 3. The charger can charge a car in less than 15 minutes.