DUBLIN--(BUSINESS WIRE)--The "Electric Vehicle Fast-Charging System Market - A Global and Regional Analysis: Focus on DC Fast Charging (Public & Private), Connector Type (Combo Charging, GB/T, CHADeMO, Supercharger), and Power Output of the DC Charger System - Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.
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 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.
Key Questions Answered in this Report:
- How is the EV fast-charging system market evolving with new technologies and products in the global market?
- What are the major patents filed by the companies active in the EV fast-charging system market?
- How are companies adopting ultra-high-power DC fast-charging technologies in the EV charging infrastructure industry?
- What are the views of senior management of the EV fast-charging system manufacturing companies operating in the space?
- What is the competitive positioning of various market leaders catering to the demand for EV DC fast chargers in the global market?
- What is the impact of the COVID-19 pandemic on the global EV fast-charging system supply chain?
- Which regions and countries are leading in terms of consumption of EV fast-charging system, and which among those are expected to witness the highest demand growth from 2020 to 2025?
- What are the key trends, drivers, restraints, and opportunities for the EV fast-charging system industry players and EV charging network operators?
- What are the buyer's attributes, major challenges, and drivers or EV fast-charging infrastructure in the countries?
- What are the key development strategies implemented by the key players to sustain in the competitive market?
Market Dynamics
Drivers
- Demonstration of Environmental Commitment and Supporting Brand Values
- Sprouting of New Government Policies and Initiatives
- Ban on ICE Vehicle Production
- Technological Advancement Leading to the Demand for Fast Chargers
Challenges
- Strong Grid Access Necessary
- Negative Effects on Electric Vehicle's Battery Lifetime
- High Infrastructure Cost of Fast-Charging System
Opportunities
- Constantly Evolving Business Models for Promoting EV Adoption Rate
- Emerging Economies Stimulating the Growth of EV Infrastructure
Companies Mentioned
- ABB
- Blink Charging Co.
- BP Chargemaster Ltd
- Broadband TelCom Power, Inc.
- ChargePoint Inc.
- Delta Electronics, Inc.
- Efacec Electric Mobility
- EVBox
- ShenZhen SETEC Power Co., Ltd.
- Siemens
- Signet EV Inc.
- Star Charge
- Tesla, Inc.
- Tritium Pty Ltd
- Xi'an TGOOD Intelligent Charging Technology Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/a6fwxo.
