Key Highlights

• Electric vehicles have attracted the attention of governments around the world, encouraging manufacturers to produce electricity. The demand for high-power chargers for electric vehicles is expected to increase in the coming years. Governments in Europe, Asia-Pacific and other regions are planning to develop electric buses. In addition, EV charging infrastructure has benefited due to many factors, including increased EV sales in end markets and emerging markets, expansion of EV charging stations, and demands from home and business end users to choose a fast payment method. Additionally, investments and acquisitions of non-renewable energy companies have expanded their portfolios to accommodate the rise of electric vehicles, which will lead to job growth in the coming years. Growth in adoption and sales Growth in electric vehicles, increasing safety standards to encourage government adoption of electric vehicles and the use of peak (high power technology) for electric vehicles with the potential to increase adoption of the technology. big vehicles. Chargers for the electric car market in the next few years. Technological developments led by cloud computing platforms in rapid production, such as the transmission of electronic payments through RFID technology, will provide growth opportunities for the electric car market in the coming years.

• The market size of the Worldwide High-power Chargers for Electric Vehicle Industry surpassed USD XX billion in 2023, and by 2032, it is projected to reach USD XX billion, boosting at a CAGR of XX%.

• May 2022, Tesla Inc. (Tesla) opened the first indoor V3 supercharging station in Shenzhen, Guangdong province. The charging station features nine V3 Superchargers produced by Tesla's Shanghai Supercharger Factory.

• Growth in the world of electric car sales is the main driver of market growth. The global automotive industry is developing rapidly. Electric vehicle sales have increased over the past decade due to increased demand for zero-emission vehicles, stricter government regulations to control vehicle emissions, incentives for rapid energy consumption, and government taxes. Therefore, the demand for electric vehicle chargers due to rapid electrification of vehicles across the world is expected to lead to market growth during the forecast period. According to the International Energy Agency's 2021 report, global electric car sales will double in 2021 compared to 2020. Starting from 2021, approximately 10% of the cars sold worldwide will be electric, and a new record will be broken with 6.6 million vehicles. In addition, factors such as increasing fossil fuel prices, increasing public environmental concerns and decreasing electric vehicle battery prices also contribute to the growth of the market. The price of battery packs dropped by almost 90% from 2010 to 2021.

Scope of the Industry Profile

Key Players

• Royal Dutch Shell PLC (Acquired NewMotion) (UK)

• ABB Ltd (Switzerland)

• XCharge Inc. (China)

• Total SA(Acquired G2Mobility) (France)

• Fastned BV (Netherland)

• IES Synergy (France)

• EVgo Services LLC (US)

• EVBOX (Netherland)

• Siemens AG (Germany)

• Allego BV (Germany)

Segmentation

By Charging Type

• AC Charging

• DC Charging

By Connector Type

• CCS (Combined Charging System)

• CHAdeMO

• Tesla Supercharger

• Other Connectors

By Power Output

• 50 kW - 150 kW

• 150 kW - 350 kW

• Above 350 kW

By EV Type

• Battery Electric Vehicle

• Plug-In Hybrid Electric Vehicle

• Hybrid Electric Vehicle

• Fuel Cell Hybrid Electric Vehicle

What to Expect from Industry Profile

1. Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the High-power Chargers for Electric Vehicle market in the world.

2. Use the PORTER’s Five Forces analysis to determine the competitive intensity and therefore market attractiveness of the Global High-power Chargers for Electric Vehicle market.

3. Leading company profiles reveal details of key High-power Chargers for Electric Vehicle market players’ global operations, strategies, financial performance & their recent developments.

4. Add weight to presentations and pitches by understanding the future growth prospects of the Global High-power Chargers for Electric Vehicle market with forecast for decade by both market share (%) & revenue (USD Million).

Recent Development

• In September 2022, ABB launched the fastest charging all-in-one electric (EV) charger on the market. ABB's new Terra 360 has a maximum output of 360 kW and is capable of charging any electric vehicle in 15 minutes or less. The 100-kilometer range is completed in less than three minutes.

• In May 2021, Siemens announced the launch of its newest portfolio of electric charging vehicles in partnership with New Zealand's YHI Energy. Through this partnership, YHI Energy, one of New Zealand's leaders in energy products, particularly electric vehicle charging, will distribute Siemens' cutting-edge charging infrastructure portfolio in the New Zealand market.

• In January 2021, Aral AG, a subsidiary of the German BP Group, deployed Siemens Smart Infrastructure to expand its network of 30 gas stations. The installation of smart offices allows Aral to upgrade its warehouses with ultra-fast charging technology for electric vehicles.

• In December 2020, ABB announced a partnership with AFC Energy to jointly develop next-generation electric vehicle (EV) charging systems and solve problems in unlimited areas.

Segment Insights

By Power Output 

Currently, the 350kW and above power type has the highest share among all market segments. The announcement of more fast charging stations worldwide and increased investment in public charging infrastructure are the key factors driving the rapid growth of the 350-kilowatt charging cluster. In 2018, Ionity selected Tritium as its technology partner to build 100 high-energy charging stations in Germany, France, the UK, Norway and Sweden. China is preparing to develop the GB/T standard, which should exceed the CCS and CHAdeMO standards with power of 350kW and 400kW respectively. To quickly charge modern electric vehicles, Tritium produces electric vehicle (EV) charging stations, each capable of delivering 350 kW of electricity for up to 6 users on average, and they can travel only 150 miles. 5 min. Therefore, focusing on this segment will result in high estimated CAGR.

By EV Type

The rapid growth of the electric vehicle market has increased the demand for high-voltage electric vehicles (BEV). Battery-powered electric cars are becoming popular due to their environmental benefits and advances in battery technology that offer longer driving times. High-power chargers provide fast, easy charging and solve the fundamental problem of electric charging. This allows electric vehicle owners to charge their vehicles quickly, making journeys longer and less stressful. In addition, government incentives, environmental regulations, and manufacturers' commitment to electric vehicle development, along with the need to solve high energy problems to support business expansion, are encouraging the use of all-electric vehicles.

Regional Insights

In the electric car high power charger market, the European region is expected to grow during the forecast period. The number of electric cars continues to increase in Europe. The growth in EV sales is attributed to the increase in DC fast charging stations along highways and roads. The DC fast charging station is the first of the 125-kilowatt Tesla Supercharger network. Additionally, increasing the number of DC fast chargers in Germany will lead to the growth of the country's economy. On the other hand, plug-in hybrid and electric car registration and sales in England were 59,911 and 15,474, respectively, in 2018. The launch of various electric models is an important positive sign. Growth of the UK electric car market. France is one of Europe's leading markets for electric car sales, with 52,597 electric cars sold in 2018. Of these, 39,158 are electric cars and the rest are plug-in hybrids. Therefore, such developments will lead to growth in fuel economy for electric vehicles in the European region.