(MENAFN- GlobeNewsWire - Nasdaq) Rapid growth is driven by the accelerating adoption of electric vehicles (EVs) worldwide, as governments, businesses, and consumers prioritize sustainability and green transportation solutions.Austin, Oct. 25, 2024 (GLOBE NEWSWIRE) -- market Size & Growth Outlook:
According to the S&S Insider,“ The DC Chargers Market Size was valued at USD 95.14 Billion in 2023 and is projected to reach USD 288.08 Billion by 2032, growing at a CAGR of 13.10% over the forecast period 2024-2032. ”
Revolutionizing the Charging Landscape and Accelerating the Future of Electric Mobility with Advanced, High-Capacity, Rapid Charging Solutions for a Greener, More Sustainable World
DC chargers are revolutionizing the charging landscape for various electronic devices, including mobile phones, laptops, tablets, and electric vehicles (EVs). These chargers provide direct current (DC) output, enabling faster and more efficient charging compared to traditional AC chargers. The growing adoption of portable electronics and the global shift toward electric vehicles are driving significant demand for DC chargers. In particular, DC chargers for EVs have transformed the automotive industry by allowing vehicles to cover distances of 350 km or more on a single charge, with recharging times reduced to mere minutes. Fast-charging solutions like CHAdeMO, CCS2, and Tesla Superchargers are making EV ownership more convenient.
India, for instance, is witnessing a surge in investments in fast-charging infrastructure. ZETWERK, a key player in this space, recently secured approval for its 60kW and 120kW DC fast chargers, aligning with the country's "Make-in-India" initiative. Collaborating with Indian Oil Corporation, ZETWERK aims to install over 1,400 fast chargers, including advanced models like the Dual Gun CCS2 DC Charger. Additionally, the development of 240 kW and 360 kW Super DC Chargers highlights the market's evolution toward high capacity, rapid charging infrastructure, paving the way for a greener future in electric mobility.
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Leading Market Players with their Product Listed in this Report are:
ABB Ltd. (Terra HP, Terra 94 DC fast chargers) Aeg Power Solutions (3W Power S.A.) (Protect 8 series DC chargers) Borri S.P.A (Legrand Group) (E3001 series DC chargers) Delta Electronics, Inc. (Delta Ultra Fast Charger, DC Wallbox) Helios Power Solutions Group (Helios DC Power Systems) Hitachi Hi-Rel Power Electronics Private Ltd . (Hitachi, Ltd.) (RANGE IGBT-based DC chargers) Kirloskar Electric Company Ltd . (Kirloskar DC fast chargers) Phihong Technology Co., Ltd . (Phihong DC Fast Charging Station) Siemens AG (SICHARGE D series DC chargers) Statron Ltd . (Statron DC Power Systems) Tritium Pty Ltd. (RTM 75 and PKM 150 DC fast chargers) Schneider Electric SE (EVlink DC fast chargers) EVBox Group (EVBox Troniq Modular DC charger) Alpitronic GmbH (HYC 300/350 DC fast chargers) Efacec Power Solutions (HV160 and QC45 DC fast chargers) Tesla, Inc . (Supercharger V3) BYD Company Ltd. (DC Fast Chargers for electric buses and trucks) Blink Charging Co. (IQ 200 DC fast charger) BP Pulse (BP Pulse Ultra-Fast DC Chargers) EVgo Services LLC (150kW and 350kW DC fast chargers)
DC Chargers Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 95.14 Billion |
| Market Size by 2032 | USD 288.08 Billion |
| CAGR | CAGR of 13.10% From 2024 to 2032 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | . By Power Output (Less Than 10 Kw, 10 Kw To 100 Kw, Greater Than 100 Kw)
. By End User (Automotive, Consumer Electronics, And Industrial) |
| Key Drivers | . The Role of Advanced DC Chargers Market in speeding up EV adoption. |
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High-Power DC Chargers: Driving the Rapid Growth of Electric Vehicles and Charging Infrastructure
In 2023, chargers with power ratings greater than 100 kW dominated the DC Chargers Market, capturing 60% of the market share. This dominance is driven by the growing demand for rapid charging solutions to support the rising number of electric vehicles (EVs). High-capacity chargers reduce charging times, enhancing user experience and alleviating range anxiety. Companies like Alpitronic and ZETWERK have launched advanced products in this segment. Alpitronic's 400 kW HYC400 and ZETWERK's 60 kW and 120 kW chargers, along with plans for 240 kW and 360 kW models, are crucial in developing a robust, high-power charging infrastructure.
The automotive sector held the largest share in the DC Chargers Market in 2023, accounting for 60% of the total market share. This leading position is largely attributed to the rapid growth and expansion of the electric vehicle (EV) market as consumers increasingly shift towards sustainable transportation solutions. Governments worldwide are incentivizing EV adoption, and major automotive manufacturers are responding by heavily investing in electric mobility. This transformation has spurred the development of a robust and efficient charging infrastructure, where DC chargers play a crucial role. With the demand for fast charging solutions, growing, automotive companies are prioritizing the creation of efficient networks of high-capacity DC chargers to cater to the expanding fleet of electric vehicles. Tesla, for instance, has been a major contributor to this growth, establishing an extensive network of high-power Superchargers that specifically serve their EV models. These Superchargers ensure fast, reliable charging, which enhances the overall user experience by reducing downtime and addressing the range anxiety that has historically been associated with electric vehicles. Tesla's commitment to expanding this infrastructure, both within and beyond the United States, has set a benchmark in the industry, making it a significant player in driving the demand for DC chargers.
Driving Forces in the DC Chargers Market: Asia-Pacific's Dominance and North America's Rapid Growth in 2023
In 2023, the Asia-Pacific region captured the largest revenue share in the DC Chargers market, accounting for 42%, driven by high electric vehicle (EV) adoption rates and supportive government policies. China is expanding its EV charging networks, while India's ZETWERK launched 60 kW and 120 kW fast chargers, enhancing the country's infrastructure. Collaborations like ZETWERK's partnership with IOCL to install over 1,400 chargers further bolster accessibility, positioning Asia-Pacific as a leader in global electric mobility.
In 2023, North America became the fastest-growing region in the DC chargers market, fueled by rising electric vehicle (EV) adoption and investments in charging infrastructure. Federal initiatives and state incentives promote electric mobility, with Tesla expanding its Supercharger network across the U.S. and Canada. ChargePoint is deploying new Express 250 DC fast chargers, while Electrify America is launching over 800 fast charging stations nationwide. The Biden administration's goal of 500,000 public chargers by 2030 further strengthens North America's position in the EV sector.
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Recent Development
On May 14, 2024, Exicom launched the Harmony Gen 1.5, India's fastest DC charger for electric vehicles, featuring a modular design with power outputs from 60 kW to 400 kW, suitable for various locations including urban areas, highways, and heavy-duty fleets. On September 18, 2024, General Motors announced that its drivers can now access over 17,800 Tesla Superchargers via a GM-approved NACS DC adapter, enhancing their access to more than 231,800 public Level 2 and DC fast chargers across North America.
T able o f Contents - Major Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
5.1 Wafer Production Volumes, by Region (2023)
5.2 Chip Design Trends (Historic and Future)
5.3 Fab Capacity Utilization (2023)
5.4 Supply Chain Metrics
6. Competitive Landscape
7. DC Chargers Market Segmentation, by Power Output
8. DC Chargers Market Segmentation, by End User
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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