Global EV DC Fast Charger Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global EV DC Fast Charger Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

DC refers to direct current, that is, the electric energy used by batteries. DC fast chargers convert AC power into DC power in charging stations and deliver DC power directly to batteries, which is why they charge faster.

Market Overview:

The latest research study on the global EV DC Fast Charger market finds that the global EV DC Fast Charger market reached a value of USD 2082.08 million in 2022. It’s expected that the market will achieve USD 5368.9 million by 2028, exhibiting a CAGR of 17.1% during the forecast period.

Under the influence of the epidemic, the electric vehicle charging station has not been used for a long time, the equipment will be damaged if it is not repaired, and the electric vehicle charging station needs to be repaired again, which will increase the cost. In addition, many places were not repaired in time, customers could not charge in time, or machines broke down, resulting in fewer customers using EV DC Fast Charger during the epidemic period, which could not make profits, and hindered the development of EV DC Fast Charger industry. The COVID-19 epidemic has affected the factories that manufacture EV DC Fast Charger, that is, a large number of workers can't return to work on time, orders can't be completed on time, and companies lack cash flow and are facing the crisis of bankruptcy.

The European Investment Bank provided 35 million euros for the installation of electric vehicle charging stations throughout Spain. The project will be implemented in the next four years, when 8,500 charging points for electric vehicles and hybrid vehicles will be started. The first batch of 2,000 charging points will be installed in Spain's major road networks and major urban areas, with the goal of covering 15,000 kilometers and towns with more than 35,000 people. The project will support the goal of installing 1 million charging stations in the EU by 2025. During the extremely difficult period brought by COVID-19 epidemic, the use of electric vehicles will be promoted, which will contribute to the recovery of Spanish economy and develop a low-carbon economy.

Germany's newly adopted financial recovery plan includes the requirement of setting up electric vehicle charging stations at gas stations and greater incentives for the electric vehicle industry. Germany plans to rapidly expand the charging infrastructure of electric vehicles and start the ownership rate of electric vehicles. Germany's recovery plan includes common ways to stimulate the economy while taking care of individuals, including reducing the value-added tax (sales tax) and allocating funds for industries hit hard by the epidemic. The country also plans to expand the electric vehicle charging infrastructure to day care centers, hospitals and sports fields. The plan also includes more subsidies for the purchase of electric vehicles. The related investment will bring development opportunities for EV DC Fast Charger industry.

EV DC Fast Charger charges faster

DC fast charging bypasses all the limitations and required conversion of the car charger, but provides DC power directly to the battery, which may greatly improve the charging speed. The charging time depends on the size of the battery, the output of the distributor, and other factors, but many vehicles can get 80% charging in about one hour or less using the most available DC fast chargers. DC fast charging is very important for high mileage/long distance driving and large fleet. This rapid transition enables drivers to charge during the day or during short breaks, instead of being fully charged all night or for hours. These factors will increase consumers' demand for EV DC Fast Charger, thus promoting the development of the industry.

The market expansion of electric vehicle charging stations

In developed countries, charging stations of electric vehicles may not need much new infrastructure and provide new alternative power through new networks. Stations can use the existing ubiquitous power grid, and can choose home charging, because most of the driving is carried out in a short distance, thus reducing the need for charging midway. For example, in the United States, 78% of commuters are less than 40 miles away. However, long driving between towns requires a network of EV Charging stations or another method to extend the range of electric vehicles beyond normal daily commuting. Therefore, in some countries where the power grid is not perfect or the commuting distance is long, the market of electric vehicle charging stations is very large. Charging stations provide a series of heavy-duty or special connectors that meet various standards. For common DC fast charging, multi-standard chargers equipped with two or three combined charging systems (CCS), CHAdeMO have become market standards in many regions. The market expansion of electric vehicle charging stations may promote the demand growth of EV DC Fast Charger.

Region Overview:

In 2022, the share of the EV DC Fast Charger market in Europe stood at 34.4%.

Company Overview:

TESLA is one of the major players operating in the EV DC Fast Charger market, holding a share of 22.33% in 2023.

TESLA

Headquartered in California, Tesla is the only vertically integrated energy company in the world. Tesla has also developed infinitely expanded energy products: Powerwall, Powerpack and Solar Roof. Tesla's mission is to accelerate the world's transition to sustainable energy through the generation and storage of affordable electric vehicles and renewable energy.

Schneider Electric

Schneider Electric is a company that creates products that help people conserve energy. Schneider Electric is a global leader in energy efficiency management and automation, focusing on power management, process and machine management, information technology room management, building management, safety management, industrial software design, simulation and optimization, industrial automation and control, and safety systems and instruments.

Segmentation Overview:

By type, CHAdeMO segment accounted for the largest share of market in 2022.

Combined Charging System (CCS)

Combined charging system (CCS) uses Combo 1 and Combo 2 connectors to provide up to 350 kilowatts of power. These two connectors are extensions of IEC 62196 Type 1 and Type 2 connectors, with two extra direct current (DC) contacts, allowing high power DC to charge quickly. The combined charging system allows AC charging using Type 1 and Type 2 connectors according to geographical area.

CHAdeMO

CHAdeMO is a fast charging standard meaning it can supply a vehicle’s battery with anywhere between 6Kw to 150Kw. In simple terms, it means very high-capacity batteries can be charged in a relatively short period of time.

Tesla Supercharger

Tesla supercharger is a 480-volt DC fast charging technology. Tesla supercharger has a connector, which can provide the maximum power of 72 kW, 150 kW or 250 kW. The Tesla Supercharger can only service Tesla vehicles, however Tesla vehicles are capable of using other chargers, specifically CHAdeMO for DC fast charging, via an adapter.

GB/T

GB/T EV DC Fast Charger meets the provisions and requirements of GB/T standard. It can charge all electric vehicles made in China, and has strong compatibility.

Application Overview:

By application, the Public Charging Station segment occupied the biggest share from 2018 to 2022.

Home Charging Unit

Home Charging Unit can be installed in the driveway and garage of home.

Public Charging Station

Public charging stations are generally located in roadside parking lots, taxi stations, parking lots (workplaces, hotels, airports, shopping centers, convenience stores, fast food restaurants, cafes, etc.).

Key Companies in the global EV DC Fast Charger market covered in Chapter 3:

Signet EV
ChargePoint
Delta Electronics
Tritium Pty Ltd
Siemens AG
ABB
DBT
BTC Power
Schneider Electric
TESLA
Efacec

In Chapter 4 and Chapter 14.2, on the basis of types, the EV DC Fast Charger market from 2018 to 2029 is primarily split into:

Combined Charging System (CCS)
CHAdeMO
Tesla Supercharger
GB/T

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the EV DC Fast Charger market from 2018 to 2029 covers:

Home Charging Unit
Public Charging Station

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)