EV DC (electric vehicle direct current)
fast charger is a direct current fast charger built for recharging
electric vehicles. Electric vehicle chargers are prime components of the
electric vehicle charging station that supply electric energy to
recharge the electric vehicle. EV DC fast chargers recharge EVs at a
comparatively rapid pace than that of AC (alternating current) electric
vehicle chargers. EV DC chargers are able to recharge an electric
vehicle battery up to 80% of its capacity within 20 to 30 minutes.
Deteriorating climate conditions around
the world owing to high carbon dioxide proliferation in the environment
due to transportation pollution, which is among the major contributor of
carbon dioxide emission, have led to the higher rate of adoption of
electric vehicles as a solution to curtail transportation pollution.
Increase in rate of adoption of electric vehicles fuels the demand for
charging stations. This is anticipated to be a key factor that is likely
to drive the EV DC fast charger market during the forecast period. EV
DC fast charger transfers power with higher efficiency as compared to
other types of electric vehicle chargers. However, the sluggish rate of
AC charging leads to longer queues, which hampers the growth of electric
vehicle industry. Introduction of EV DC fast charger, which charges EVs
at a rapid rate, is considered to be a boost to the EV industry. This,
in turn, is projected to drive the EV DC fast charger market
during the forecast period. Furthermore, regulatory bodies across the
globe are spreading awareness and prompting consumers to opt for
ecofriendly vehicles in order to tackle and curb environment emission by
offering lucrative incentives on the installation of EV charging
infrastructure. This is another key factor that is anticipated to propel
the EV DC fast charger market during the forecast period. Higher cost
of EV DC fast charger due to its ability to charge an EV rapidly is
likely to hamper the EV DC fast charger market in the near future.
The global EV DC fast charger market can
be segmented based on connector type, power supply range, end-use, and
region. In terms of connector type, the EV DC fast charger market can be
bifurcated into combined charging system (CCS), CHAdeMO, and Tesla
Supercharger. The CHAdeMO segment accounted for a higher share of the
market. This connector offers quick EV charging speeds of 40 – 60 kW and
above. Consequently, the segment accounts for a leading share of the
market.
Based on the power supply range, the EV
DC fast charger market can be bifurcated into 40 to 60 kW and > 60
kW. The 40 to 60 kW segment leads the EV DC fast charger market. It is
likely to expand at higher growth rate primarily due to significant
adoption of fast charging stations in countries such as U.S., China,
Japan, and Norway.
Based on end-use, the EV DC fast charger
market can be split into home charging unit and public charging station.
Public charging station is a highly attractive segment of the market.
The segment dominates the EV DC fast charger market and is mostly found
along highways and expressways, rather than at residential or commercial
locations.
Based on region, the EV DC fast charger
market can be segregated into Asia Pacific, Europe, North America, Latin
America, and Middle East & Africa. Asia Pacific accounts for a
prime share of the global EV DC fast charger market, due to the high
rate of adoption of electric vehicles in countries such as China, Japan,
and South Korea. Moreover, surge in demand for rapid charging in the
region for long-distance journeys is also likely to boost the EV DC fast
charger market in Asia Pacific during the forecast period.
Major players operating in the global EV
DC fast charger market are ABB, TESLA, Efacec, Alfen N.V., Allego B.V.,
Bosch Automotive Service Solutions Inc., and Schneider Electric.
