Electric Vehicle DC Charger Market Size, Share, and COVID-19 Impact Analysis, By Connector Type (Combined Charging System, CHAdeMO (Charge de Move), and Tesla Supercharger), By Power Supply Range (Below 40 kW, 40-60 kW, and Above 60 kW), By Vehicle Type [Battery Electric Vehicles (BEV) and Hybrid Electric Vehicles (HEV)], and Regional Forecast, 2024-2032

An electric vehicle (EV) DC charger is a critical component of electric vehicle charging infrastructure. It uses direct current (DC) to recharge an EVs battery, allowing faster charging than alternating current (AC) chargers. With rising demand for EVs, the market for EV DC chargers is expanding rapidly.

One of the growth drivers for the electric vehicle DC charger market is the increasing adoption of electric vehicles globally. Governments and regulatory authorities are actively encouraging the adoption of electric vehicles through various incentives and favorable laws.

For instance, Germany is providing financial support through its "Ladeinfrastruktur fur Elektrofahrzeuge" (Charging Infrastructure for Electric Vehicles) program. This program offers subsidies for installing publicly accessible DC fast charging stations.

However, the market also faces certain restraining factors. Despite the subsidies, the high initial installation costs associated with DC charging infrastructure are one of the primary concerns. This includes the cost of hardware and necessary electrical upgrades. This can hinder widespread adoption, especially in areas with limited financial resources or weak infrastructure.

Furthermore, the restricted interoperability of different DC charging networks is a barrier. The lack of standardization and interoperability among charging systems from diverse vendors might complicate the EV charging experience and potentially hurt industry expansion.

Impact of COVID-19 on the Electric Vehicle DC Charger Market

The COVID-19 epidemic considerably impacted the electric vehicle DC chargers market, with numerous notable consequences reported. The interruption in the worldwide supply chain, particularly owing to a scarcity of semiconductors, has been one of the market's most visible challenges during the pandemic. Manufacturing and shipping constraints, combined with rising demand for semiconductors in other industries, resulted in a scarcity of crucial components for EV DC chargers. This scarcity slowed charger production and delivery, affecting EV charging infrastructure's entire supply and deployment.

Furthermore, the pandemic-induced economic downturn and diminished consumer confidence resulted in a drop in EV sales, directly impacting demand for EV charging options. Because there were fewer EVs on the road, the building and use of DC charging stations were temporarily hampered.

Key Insights

The report will cover the following key insights:

• Key Industry Developments – Mergers, Acquisitions, and Partnerships.


• Porter's Five Forces Analysis.


• Technological Developments.


• Impact of COVID-19 on the Electric Vehicle DC Charger Market.

Regional Analysis

There has been a strong push towards electrification in Europe, with several countries implementing ambitious targets to transition to zero-emission vehicles. The European Union's Clean Energy Package and the Green Deal have emphasized the need for robust EV charging infrastructure, including DC chargers. As a result, governments and organizations in countries like Norway, the Netherlands, Germany, and the United Kingdom have implemented various incentives and funding programs to push the deployment of EV charging stations.

In the APAC region, countries such as China, Japan. And South Korea has taken great leaps in the adoption of EVs and the development of charging infrastructure. China is a prominent EV market and has implemented aggressive policies and targets to support EV adoption. The Chinese government has provided subsidies and financial incentives for EVs and charging infrastructure, which has contributed to the growth of the DC charger market in the region.

Key Players Covered

The report includes the profiles of players such as Bosch Automotive Service Solutions Inc., ABB, Tesla, Alfen N.V., Allego B.V., Schneider Electric, Efacec, Delta Electronics Inc., Signet EV Inc., EVBox Inc., Siemens AG, Tritium Charging, EVgo Services LLC, ChargePoint Inc., Infineon AG, CIRCONTROL S.A., Ather Energy, MYEV, Huawei Power Solutions, and others.

Segmentation

Key Industry Developments

• January 2023: Tritium, a DC fast charger maker, has received an order for 10,000 EV DC fast chargers from a UK charging network called Evyve. This order is to be fulfilled by 2030.


• February 2023:, 12 DC fast charging stations were inaugurated by MG Motor India and Bharat Petroleum Corporation Limited (BPCL) on the Delhi-Jalandhar corridor.