The DC high power charger market is expected to grow at 13.6% CAGR from 2023 to 2029. It is expected to reach above USD 192.19 Billion by 2029 from USD 61 Billion in 2022.
“DC” refers to “direct current” the type of power batteries uses. Level 2 charging stations use “AC” or “alternative current”, which you will easily find in typical household outlets. Electric vehicles have onboard chargers inside the car that convert AC power to DC for the battery. That means it can feed power directly to the car’s battery and doesn’t need the onboard charger to convert it. DC chargers are bigger, faster, and an exciting breakthrough when it comes to electric vehicles.
For this purpose, the EV incorporates an integrated charger. DC chargers provide DC power. DC batteries are employed in automotive and industrial applications in addition to charging batteries for electrical gadgets. They transform the input signal into a DC output signal. DC chargers are the preferred type of charger for most electronic equipment. One of the most major advantages of the DC charger is that it is very easy to deployed. But the absence of charging station limits the market for electric vehicles. A nation needs substantial number of charging stations. There are opportunities in improving the electrical components performance. And also plays a vital role in the connection of the grid to the electric vehicle to enable the vehicle’s charging.
| ATTRIBUTE | DETAILS |
| Study period | 2023-2029 |
| Base year | 2022 |
| Estimated year | 2023 |
| Forecasted year | 2023-2029 |
| Historical period | 2018-2022 |
| Unit | Value (USD BILLION), (THOUSAND UNITS). |
| Segmentation | By Power Output, By Application, By Region |
| By Power Output
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| By Application
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| By Region
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The infrastructure for charging electric vehicles has evolved to keep pace with the growing number of automobile brands, models, and types with ever-larger battery packs. There are more alternatives now for fleet locations, commercial businesses, and public use.
Mobile phones, laptops, tablets, and other wearable electronics are among the portable electronics that are rapidly being charged using DC chargers. As demand for these portable gadgets rises, it is anticipated that the revenue generated by the worldwide DC charger market would increase significantly. Smartphones, computers, tablets, electric vehicles, and commercial machinery all need DC charges. DC chargers for electric vehicles is a latest innovation in the automotive industry. DC chargers for electric vehicles have made it possible to cover the distance of 350 km and more in a single charge.
One of the biggest risks to the world economy today is the continued spread of COVID-19, which is inflicting financial hardship for people, businesses, and communities everywhere. The "new normal" has made it difficult to manage everyday tasks, routine work, needs, and supplies, which has led to delayed projects and missed chances. The "new normal" also includes working from home and social isolation. The COVID-19 epidemic is having an effect on society and the global economy. The effects of this pandemic are spreading daily and are also having an effect on the supply chain. The stock market is becoming unclear, businesses are losing confidence, the supply chain is being hampered, and consumer anxiety is rising.
The DC High Power Charger Market is expected to grow at 13.6% CAGR from 2023 to 2029. It is expected to reach above USD 192.19 Billion by 2029 from USD 61 Billion in 2022.
Asia Pacific held more than 30% of the DC High Power Charger Market revenue share in 2022 and will witness expansion in the forecast period.
Increased sales of electric vehicles and an increase in the number of portable and wearable electronic devices are notable factors increasing the growth of the DC charger market. There is a significant demand for electronic products including smartphones, smartwatches, and headphones. Furthermore, the need for DC chargers is being fueled by the growing use of electric vehicles. The development of quick DC chargers that can quickly charge electric vehicles is what is driving the expansion of the global industry. In addition, the ongoing demand for DC chargers in industrial applications is anticipated to create development prospects for the market for DC fast chargers in the upcoming years.
The Fiber Glass Market key players include ABB Group, Siemens AG, Delta Electronics, Inc., Phihong Technology Co. Ltd., Kirloskar Electric Co. Ltd., Hitachi, Ltd., Legrand S.A., Helios Power Solutions, AEG Power Solutions B.V., and Statron AG.
The DC chargers market's greatest revenue share in 2022 belonged to Asia-Pacific. The high growth rate of this market segment is primarily attributable to increased government initiatives to instal DC chargers in nations like China and Japan, rising investments in the construction of infrastructure for DC fast-charging stations, and the faster charging speeds of DC fast chargers when compared to other chargers.
The DC high power charger market is segmented based on Power Output, Application and Region, Global trends and forecast.
By Power Output (10 KW to 100 KW, Less Than 10 KW, and More Than 100 KW), by Application (Industrial, Automotive, Consumer Electronics and others) and Region, Global trends and forecast.
The DC charger market is divided into three categories based on power output: less than 10 KW, 10 KW to 100 KW, and more than 10 KW. The 10 KW market category accounted for a sizeable portion of the DC charger industry's sales in 2021. The increased use of consumer electronics with small batteries, such as smartphones and laptops, is responsible for the segment's increased growth. The demand for faster charging to cut down on wait times is growing as people's lifestyles become more chaotic and busy.
The DC charger market is segmented into three categories, including Automotive, Consumer Electronics, and Industrial. Consumer electronics recorded a sizable sales proportion of the DC charger market in 2021. Due to the fact that more market participants worldwide are putting more of an emphasis on satisfying consumers' need for better charging alternatives, the segment's growth is accelerating quite quickly.
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The market research report covers the analysis of market players. Key companies profiled in the report include ABB Group, Siemens AG, Delta Electronics, Inc., Phihong Technology Co. Ltd., Kirloskar Electric Co. Ltd., Hitachi, Ltd., Legrand S.A., Helios Power Solutions, AEG Power Solutions B.V., and Statron AG.
Aug-2022: Delta Electronics came into an agreement with EVgo, the Largest EV Fast Charging Network in America. Under this agreement, Delta would provide its 1,000 ultra-fast chargers to EVgo in order to reduce the supply chain risk and streamline fast charging deployment targets within the US.
Jul-2022: Siemens partnered with ConnectDER, a plug-and-play grid integration solution provider. Following this partnership, the company aimed to offer Plug-in Home EV Charging Solution. This solution would allow EV owners to charge their vehicles EVs by connecting chargers directly via the meter socket.
Apr-2022: ABB teamed up with Shell, a multinational oil and gas company. Following this collaboration, the companies would offer high-quality and flexible charging solutions to owners of electric vehicles across the world.
The DC High Power Charger Market by region includes North America, Asia-Pacific (APAC), Europe, South America, and Middle East & Africa (MEA).
The DC Chargers Market is examined regionally throughout LAMEA, Asia-Pacific, Europe, and North America. The DC chargers market's greatest revenue share in 2021 belonged to Asia-Pacific. The high growth rate of this market segment is primarily attributable to increased government initiatives to instal DC chargers in nations like China and Japan, rising investments in the construction of infrastructure for DC fast-charging stations, and the faster charging speeds of DC fast chargers when compared to other chargers. DC chargers deliver DC electricity. In addition to being used to charge batteries for electronic devices, DC batteries are also used in automotive and industrial applications.
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