- EV DC fast charger is a direct current fast charger used for charging an electric vehicle. Electric vehicle chargers are prime components of the electric vehicle charging station that supplies electric energy to recharge an electric vehicle. EV DC fast chargers recharge electric vehicles at a rapid pace as compared to those charged by AC electric vehicle chargers. EV DC chargers are able to recharge an electric vehicle battery up to 80% of its capacity within a short duration of time.
Key Drivers of EV DC Fast Charger Market
- Rise in demand for vehicle electrification across the globe, due to enactment of stringent emission norms across the globe to reduce the emission of harmful gases from vehicles, is likely to boost the EV DC fast charger market across the globe. 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.
- Rise in government investment to develop charging infrastructure across the globe is likely to fuel the EV DC fast charger market across the globe. Major vehicle manufacturers are trying to increase their electric vehicle power output, which is likely to boost the EV DC fast charger market across the globe.
- The Coronavirus pandemic spread extensively across the globe between March and April 2020. Global automobile and related component production, import, and export, were heavily hit by the pandemic. Various governments in Europe, the Americas, and Rest of the world shut down manufacturing plants, as a result the forceful quarantine, in order to reduce the spread of the infections, which in turn is likely to hamper the EV DC fast charger market across the globe.
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Europe & Asia Pacific to Hold Significant Share of Global EV DC Fast Charger Market
- Europe is projected to hold for a major share of the global EV DC fast charger market due to a rise in the demand for electric vehicle across the region. Rapid expansion of electric vehicle component manufacturers across the region also boosts the EV DC fast charger market. Europe has presence of major original equipment manufacturers as well as tier-1 suppliers, including Robert Bosch GmbH and Infineon AG who have major facilities that undertake research & development on the electric vehicle charging, is likely to propel the EV DC fast charger market across the globe.
- Followed by Europe, Asia Pacific is projected to hold a significant share of the global EV DC fast charger market due to an increase in production of electric vehicles across the region. Asia Pacific has major presence of electric vehicle parts manufacturing industries across China, India, and Japan, which is anticipated to propel the EV DC fast charger market in Asia Pacific.
Key Players Operating in EV DC Fast Charger Market
The EV DC fast charger market is expanding consistently, as a large number of players operate in the market. A few of the key players operating in the EV DC fast charger market are:
- Bosch Automotive Service Solutions Inc.
- Alfen N.V.
- Allego B.V.
- Schneider Electric
- Delta Electronics Inc.
- Signet EV Inc.
- EVBox Inc.
- Siemens AG
- Star Charge Tesla Inc.
- EVgo Services LLC
- ChargePoint Inc.
- Infineon AG
- CIRCONTROL S.A.
- Mouser Electronics
- Ather Energy
- Huawei Power Solutions
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