The Global DC Chargers Market size is expected to reach $161.5 billion by 2028, rising at a market growth of 13.6% CAGR during the forecast period.
DC charging, as the names indicates, delivers DC power directly to the battery of any battery powered motor or processor, such as an electric vehicle (EV). The AC-to-DC conversion takes place in the charging station prior to the stage, at which the electrons travel to the car. Because of this, DC fast charging can deliver a charge significantly more quickly than Level 1 and Level 2 charging.
For long-distance EV travel and the continuous expansion of EV adoption, direct current (DC) fast charging is essential. Alternating current (AC) electricity is provided by the electric grid, while direct current (DC) power is stored in EV batteries. An EV receives AC electricity when a user utilizes Level 1 or Level 2 charging, which must be rectified to DC prior to being stored in the battery of the vehicle.
The EV has an integrated charger for this purpose. DC chargers deliver DC electricity. In addition to being used to charge batteries for electronic devices, DC batteries are also used in automotive and industrial applications. The input signal is converted to a DC output signal by them. For the majority of electronic equipment, DC chargers are the preferred form of charger.
As opposed to AC circuits, a DC circuit has a unidirectional flow of current. When it is not practical to transfer AC power, DC electricity is employed. The charging infrastructure has developed to keep up with the changing landscape of electric vehicles, which now includes a wide range of car brands, models, and types with ever-larger battery packs. For public usage, private business, or fleet sites, there are now more options.
Due to the lockdown scenario, facilities manufacturing DC chargers were temporarily closed. The supply of DC chargers in the market was impeded owing to this. The work-from-home has made it more challenging to manage everyday activities, requirements, routine work, and supplies, which has led to delayed projects and missed chances. However, as people are working from home, the consumption of various consumer electronics was spurred during the pandemic, which increased the demand for DC chargers.
The adoption of electric vehicles is booming all over the world. With a number of advantages, including cheaper running costs than traditional gasoline engines, the enforcement of robust government rules to decrease environmental pollution, as well as a reduction in exhaust emissions, electric vehicles are becoming increasingly popular around the world. In order to take advantage of the market potential, major players in the DC chargers market are also taking a number of strategic actions, such as product development and product launch.
One of the most major advantages of the DC charger is that it is very easy to deployed. The fact that it is simple to store in batteries is a major benefit. Because they need to store it, portable electronics, like flashlights, cell phones, and laptops need DC power. Since plug-in cars are portable, they also utilize DC batteries. Because it flips back and forth, AC electricity is a little more complex. One of the biggest benefits of DC is that it can be efficiently delivered across great distances.
Strong EV charging infrastructure is necessary for the adoption of electric vehicles. Electric vehicles have not yet entered the mainstream despite their economic and environmental benefits. The absence of charging stations limits the market for electric vehicles. A nation needs a substantial number of charging stations at specific distances in order to enhance the sales of electric automobiles.
On the basis of Power Output, the DC Chargers Market is segmented into Less than 10 KW, 10 KW to 100 KW, and More than 10 KW. In 2021, the 10 KW segment garnered a significant revenue share of the DC charger market. An increase in the growth of the segment is attributed to the rising consumption of consumer electronic devices with small batteries, such as smartphones and laptops. Due to the fact that the lifestyle of people is increasingly becoming hectic and busy, the need for faster charging to reduce time is surging.
By Application, the DC Chargers Market is segregated into Automotive, Consumer Electronics, and Industrial. In 2021, the consumer electronics segment registered a substantial revenue share of the DC chargers market. the growth of the segment is rising at a very rapid pace owing to the fact that an increasing number of market players all over the world are increasing their focus on meeting the demand of customers for better charging alternatives.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 69.3 Billion |
| Market size forecast in 2028 | USD 161.5 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 13.6% from 2022 to 2028 |
| Number of Pages | 167 |
| Number of Tables | 264 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Power Output, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-Wise, the DC Chargers Market is analyzed across North America, Europe, Asia-pacific, and LAMEA. In 2021, Asia-Pacific held the largest revenue share of the DC chargers market. Increased government initiatives to install DC chargers in Countries, like China and japan, growing investments in the development of DC fast-charging station infrastructure, and the faster charging speeds of DC fast chargers compared to other chargers are primarily responsible for this market segment's high growth rate
Free Valuable Insights: Global DC Chargers Market size to reach USD 161.5 Billion by 2028
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; ABB Group and Siemens AG are the forerunners in the DC Chargers Market. Companies such as Delta Electronics, Inc. and Phihong Technology Co., Ltd. are some of the key innovators in DC Chargers Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, Siemens AG, Delta Electronics, Inc., Phihong Technology Co. Ltd., Kirloskar Electric Co. Ltd., Hitachi, Ltd., Legrand S.A., Helios Power Solutions, AEG Power Solutions B.V., and Statron AG.
By Power Output
By Application
By Geography
The DC Chargers Market size is projected to reach USD 161.5 billion by 2028.
An Upsurge In The Adoption Of Electric Vehicles Across The World are driving the market in coming years, however, Lack Of Required Infrastructures To Operate Evs And Dc Chargers restraints the growth of the market.
ABB Group, Siemens AG, Delta Electronics, Inc., Phihong Technology Co. Ltd., Kirloskar Electric Co. Ltd., Hitachi, Ltd., Legrand S.A., Helios Power Solutions, AEG Power Solutions B.V., and Statron AG.
The expected CAGR of the DC Chargers Market is 13.6% from 2022 to 2028.
The 10 KW to 100 KW segment acquired maximum revenue share in the Global DC Chargers Market by Power Output in 2021 thereby, achieving a market value of $73.5 billion by 2028.
The Asia Pacific market dominated the Global DC Chargers Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $52.8 billion by 2028.
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