EV High Power Charger Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 40.00 % |
| Fastest Growing Market | Europe |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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EV High Power Charger Market Analysis
The high-power charger for the electric vehicles market is valued at USD 5.03 billion in 2020 and is estimated to reach USD 36.8 billion by 2026 registering a CAGR of over 40% during the forecast period (2021-2026)
- Electric vehicles have been gaining traction since 2012 with various governments, worldwide, encouraging automakers to manufacture electric vehicles. The demand for high-power chargers for electric vehicles is expected to increase in the years to come. Governments of various regions, such as Europe and Asia-Pacific, have plans to launch high-power electric buses. Moreover, electric vehicle charging infrastructure is gaining traction, owing to several factors, such as an increase in electric vehicle sales across potential and emerging markets, expanding EV charging stations, and demand from residential and commercial end-users opting for fast charging trends. In addition, investments and acquisition activities of non-renewable energy giants that are diversifying their portfolio to meet the escalating vehicle electrification trend are likely to drive the growth of the market in the coming years.
- The growth in terms of adoption and sales of electric vehicles, increasing stringent safety norms promoting the adoption of electric vehicles by the government, and the introduction of advanced technology (high-power technology) for electric vehicles manufactured with high-power capabilities are expected to lead to a growth in the high-power charger for electric vehicles market in the coming years.
- Technological advancements, such as the deployment of electronic payment methods through RFID technology, controlled by a cloud-computing platform in fast charger manufacturing, shall provide growth opportunities for the market in the years to come.
EV High Power Charger Market Trends
This section covers the major market trends shaping the High Power Charger for EV Market according to our research experts:
350 kW and above Power Type Segment projected to grow at a high pace
Currently, the 350 kW and above power type segment has the highest share out of all the segments. The announcement of numerous projects regarding the launch of ultra-fast charging stations and increasing investment toward the development of the public charging infrastructure, worldwide, are the primary factors responsible for the faster growth rate for 350 kW chargers. In 2018, Ionity chose Tritium as its technology partner for the construction of 100 high-power charging sites across Germany, France, the United Kingdom, Norway, and Sweden. China is in plans to upgrade its GB/T standard, which is expected to overtake both the CCS and CHAdeMO standards, at 350 kW and 400 kW, respectively, with a maximum charge of 900 kW on the new GB/T standard. The electric vehicle (EV) - charging stations developed by Tritium shall have an average of up to six user units, each capable of delivering 350 kW of power for fast charging of modern EVs, thus, 150 km of driving range to an EV in just five minutes. Thus, the increasing focus on this segment shall lead to its estimated high CAGR.
Europe is expected to see the highest growth
In the high-power charger for electric vehicles market, the growth of the European region is expected to be more during the forecast period. Europe is witnessing an increase in the number of electric vehicles. The increase in the sales of electric vehicles is due to the increasing presence of DC fast-charging stations along the highways, as well as on roadsides. The DC fast-charging stations are led by the 125 KW Tesla Supercharger network. Moreover, the increasing number of DC fast chargers in Germany shall lead to the growth of the market in the country. On the other hand, plug-in hybrid cars and pure electric cars accounted for 59,911 registrations and 15,474 sales, respectively, in the United Kingdom, in 2018. The availability of a wide range of electric models is one of the key indicators for the positive growth of the EV market in the United Kingdom. France is one of the leading markets in terms of European electric vehicles sales, registering 52,597 sales of electric vehicles in 2018. Out of this, 39,158 registered as all-electric vehicles, while the rest accounted for plug-in hybrid electric vehicle sales in 2018. Thus, such developments are likely to drive the growth of the high-power charger for electric vehicles market in the European region.
EV High Power Charger Industry Overview
The high-power charger for electric vehicles market is fragmented, with various players existing in the market. ABB Ltd is the leading player in the market. Other players in the market include Ev-Box BV, IES Synergy, Garo AB, XCharge Inc., and Tesla Inc., which constitute over 30% of the market. Various initiatives done by companies have led them to strengthen their presence in the market. For example, in 2018, ABB Ltd announced that it installed the first DC fast charger, Terra 53 multi-standard DC charging station (50 KW), in Egypt. Moreover, in 2018, Tesla Motors Netherlands BV and Turkish manufacturer, Gersan Elektrik Ticaret ve Sanayi AS, signed a one-sided non-disclosure agreement to evaluate a possible commercial deal for the production and installation of electric vehicle charging stations.
EV High Power Charger Market Leaders
ABB Ltd
Tesla Inc.
EV-Box BV
IES Synergy
Siemens AG
*Disclaimer: Major Players sorted in no particular order
EV High Power Charger Market News
- In September 2021, ABB launched an innovative all-in-one electric vehicle (EV) charger, which provides the fastest charging experience on the market. ABB's new Terra 360 has a maximum output of 360 kW and is capable of fully charging any electric car in 15 minutes or less. It can deliver 100 km of range in less than three minutes.
- In May 2021, Tesla Inc. (Tesla) inaugurated the first China-made V3 supercharging station in Shenzhen, Guangdong Province. The station comprises nine V3 superchargers manufactured at Tesla's supercharger factory in Shanghai.
- In May 2021, Siemens announced that it has partnered with YHI Energy in New Zealand to launch its latest electric vehicle charging infrastructure portfolio. The partnership will see YHI Energy, one of New Zealand's leading suppliers of energy products especially in electric vehicle charging infrastructure, distribute Siemens' state-of-the-art charging infrastructure portfolio in the New Zealand market.
- In January 2021, Aral AG, a subsidiary of the BP group in Germany, tasked Siemens Smart Infrastructure with expanding the grid connection at 30 selected gas stations. The installation of intelligent substations allows Aral to upgrade its gas stations with ultra-fast charging technology for electric vehicles.
- In December 2020, ABB announced the launch of a strategic partnership with AFC Energy to create the next generation of high-power sustainable electric vehicle (EV) charging solutions for grid-constrained locations.
EV High Power Charger Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Power Output Type
5.1.1 50 kW - Less than 150 kW
5.1.2 150 kW - 350 kW
5.1.3 350 kW and Above
5.2 Vehicle Type
5.2.1 Plug-in Hybrid Electric Vehicle (PHEV)
5.2.2 Battery Electric Vehicle (BEV)
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Netherlands
5.3.2.5 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Rest of Asia-Pacific
5.3.4 Rest of the World
5.3.4.1 South America
5.3.4.2 Middle East & Africa
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Royal Dutch Shell PLC (Acquired NewMotion)
6.2.2 ABB Ltd
6.2.3 XCharge Inc.
6.2.4 Total SA(Acquired G2Mobility)
6.2.5 Fastned BV
6.2.6 IES Synergy
6.2.7 EVgo Services LLC
6.2.8 EVBOX
6.2.9 Siemens AG
6.2.10 Allego BV
6.2.11 Phoenix Contact
6.2.12 Tesla Inc.
6.2.13 Garo AB
6.2.14 ENSTO INDIA PRIVATE LIMITED
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
EV High Power Charger Industry Segmentation
High-power charger for electric vehicles is essentially a DC fast charger that provides charging for vehicles in less than 30 minutes using fast-charging standards, like CHAdeMO, CCS, Supercharger, by transferring power at a minimum rate of 22kWh. The high-power charger for electric vehicles market study includes various power output types ranging from 50 kW - 150 kW, 150 kW - 350 kW, and above 350 kW, vehicle types, such as a plug-in hybrid electric vehicle (PHEV) and battery electric vehicle (BEV).
The High-power Charger for Electric Vehicles Market is segmented by Power Output, Vehicle Type, and Geography.
By Power Output Type, the market is segmented as P50 kW - 150 kW, 150 kW - 350 kW, and above 350 kW),
By Vehicle Type, the market is segmented as Plug-in Hybrid Electric Vehicle (PHEV), and Battery Electric Vehicle (BEV),
and by Geography, the market is segmented as North America, Europe, Asia-Pacific, and Rest of the World.
| Power Output Type | |
| 50 kW - Less than 150 kW | |
| 150 kW - 350 kW | |
| 350 kW and Above |
| Vehicle Type | |
| Plug-in Hybrid Electric Vehicle (PHEV) | |
| Battery Electric Vehicle (BEV) |
| Geography | |||||||
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EV High Power Charger Market Research FAQs
What is the current High Power Charger For Electric Vehicle Market size?
The High Power Charger For Electric Vehicle Market is projected to register a CAGR of greater than 40% during the forecast period (2024-2029)
Who are the key players in High Power Charger For Electric Vehicle Market?
ABB Ltd, Tesla Inc., EV-Box BV, IES Synergy and Siemens AG are the major companies operating in the High Power Charger For Electric Vehicle Market.
Which is the fastest growing region in High Power Charger For Electric Vehicle Market?
Europe is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in High Power Charger For Electric Vehicle Market?
In 2024, the Asia Pacific accounts for the largest market share in High Power Charger For Electric Vehicle Market.
What years does this High Power Charger For Electric Vehicle Market cover?
The report covers the High Power Charger For Electric Vehicle Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the High Power Charger For Electric Vehicle Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
High Power Charger for Electric Vehicle Industry Report
Statistics for the 2024 High Power Charger for Electric Vehicle market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. High Power Charger for Electric Vehicle analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
