DC Charging Stations Market: Overview
- DC charging stations are created to convert AC power from the electrical grid into DC power that can then be directly fed to charge battery system of electric vehicles. Most vehicles are capable of obtaining an 80% charge in 30 minutes or less with DC charging.
- The conversion from AC to DC power is done inside the charging station. These units can provide higher level of power (from 30kW to 350kW and beyond) to the vehicle compared to AC charging stations.
- The objective of charging an electric vehicle akin to ‘filling up’ a traditional car is of critical importance in order to successfully increase the adoption of electric vehicles across the globe. Therefore, energy companies have been investing significantly in charging technology companies in order to expand the rapid charging infrastructure.
Key Drivers and Restraints of DC Charging Stations market
- Rise in restrictions on conventional fuel vehicles; growth in investments, regulations, and policies favoring EVs by governments, decrease in prices of EVs owing to rapid decline in battery cost; and increase in awareness among people about environmental concerns are key factors driving the sales of EVs across the globe
- Rapid growth in EV sales is further boosting the demand for EV charging infrastructure, especially DC charging stations. Lower vehicle downtime through increased charging speed and further reduction in downtime by increasing charging station output are the developments taking place in the market. This is estimated to boost the DC charging stations market during the forecast period.
- The high installation cost and need for upgradation of existing power grid infrastructure are some of the factors that are projected to hamper the DC charging stations market during the forecast period.
Global DC Charging Stations Market: Segmentation
- The global DC charging stations market can be segmented based on charging type, connector type, and application
- In terms of charging type, the global DC charging stations market can be divided into fast (up to 50 Kw), and ultra-fast (above 50 Kw). The ultra-fast charging segment is expected to expand at a high CAGR during the forecast period, since battery size has increased significantly since the earlier EVs. Hence, DC chargers have been getting progressively higher outputs.
- In terms of connector type, the global DC charging stations market can be classified into CHAdeMO, Combined Charging System (CCS), and Tesla Supercharger. The Combined Charging System (CCS) segment is estimated to expand at a rapid pace during the forecast period.
- In terms of application, the global DC charging stations market can be segregated into public and private. The public segment is projected to expand at a faster pace during the forecast period.
Global DC Charging Stations Market: Regional Segmentation
- In terms of region, the global DC charging stations market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- The market in Asia Pacific is likely to expand at a significantly higher CAGR during the forecast period. The market in China, India, and Japan is anticipated to expand substantially in the next few years owing to the presence of favorable governmental policies and regulations.
- North America is expected to be a vital region of the global DC charging stations market in the near future. Extensive proliferation of rapidly charging infrastructure for EVs, especially in the U.S., and rise in investment in EV charging infrastructure are expected to further boost the market in the region.
- Europe is also a lucrative region of the global DC charging stations market. High adoption of electric vehicles, including commercial vehicles, in the region has propelled the demand for DC charging infrastructure in order to provide greater networking for e-mobility.
COVID-19 Impact on Global DC Charging Stations Market
- The COVID-19 pandemic has adversely affected the global DC charging stations industry. Manufacturers have suffered closures owing to the lockdown measures implemented by various countries to curb the spread of the disease. Disruption of the supply chain has caused delays in deliveries, resulting in postponement of infrastructure activities. The EV industry has been expanding. This, in turn, is driving the the need for charging infrastructure. Easing of lockdowns offers opportunities for the DC charging stations market. Thus, the market is expected to expand steadily in the long run.
Key Players in Market
The global DC charging stations market is moderately fragmented. Prominent players operating in the global DC charging stations market seek to enter into joint venture and partnership agreements for the development of innovative products and expansion of charging infrastructure.
Key players operating in the global DC charging stations market include:
- Enel X
- POD Point
- Blink Charging
Global DC Charging Stations Market: Research Scope
Global DC Charging Stations Market, by Charging Type
- Fast (up to 50 Kw)
- Ultra-fast (above 50 Kw)
Global DC Charging Stations Market, by Connector Type
- Combined Charging System (CCS)
- Tesla Supercharger
Global DC Charging Stations Market, by Application
Global DC Charging Stations Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.