DC chargers are the direct current chargers designed and developed for charging and recharging electric vehicles. These DC chargers are the prime components of the electric vehicle charging station as they supply electric energy needed to recharge the electric vehicle. DC chargers recharge electric vehicles at a faster rate than AC chargers. They are able to recharge an electric vehicle battery up to 80% of its capacity within 30 min. thus, they find their applications in home use, office use and commercial use in end uses such as automobile. Innovations in the semiconductor industry will pave the way for better and improved DC chargers. The global DC chargers market is experiencing a significant growth, and will grow considerably in next few years.
Major players analyzed include Tesla, Alfen N.V, Bosch Automotive service solutions, ABB, Efacec, Allego B.V, Schneider Electric, NEC Corporation, Tritium Pty Ltd, Signet EV and others.
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COVID-19 scenario Analysis:
- Global DC chargers market has been significantly impacted by the COVID-19 outbreak. New projects throughout the world have stalled, which, in turn, have led to decline in demand for analog semiconductors.
- Global factories have struggled to integrate new DC chargers as workers have stayed in their homes, which disrupted the global supply chains.
- The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for DC chargers are gradually going to increase.
- This COVID-19 lockdown would help companies think about more advanced DC chargers to enhance efficiency.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major drivers that lead to the DC battery chargers market growth are the increasing number of electric vehicles and the increase in demand for DC chargers in electric vehicles. However, high cost associated with DC chargers and efficient individuals required for its installation may hinder the market growth. However, increase research and developments in the field of DC chargers, its proliferation in developing countries and upsurge demand of DC charger in industrial and automobile sector are expected to boost the DC fast chargers market demand further.
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New product launches to flourish the DC chargers market
EON and Enel X are the companies which are focusing on the growth of peer to peer (P2P) EV charging stations. A peer to peer electric vehicle charging network was developed by innogy SE in partnership with Enel X in the year 2017 in Germany containing more than 1250 chargers. An “e tron charging services” was launched by Audi in the year 2018. It is beneficial in providing 72,000 charging points network by 220 providers with one card in Europe. Also, the charging stations can be enabled with the help of the single charging profile it offers.
Surge in usage in automotive industry
There has been surge in the usage of DC chargers in the automotive industry due to the increase in rate of adoption of electric vehicles. In addition, the increasing carbon emissions across the globe has created awareness regarding environmental pollution. This has led to the increasing development and manufacturing of electric vehicles. Moreover, the fast charging provided by the DC charger as compared to the AC chargers and as the carbon emission can be curbed by using the electric vehicles, there has been surge in the usage of DC chargers in this industry.
Key benefits of the report:
- This study presents the analytical depiction of the global DC Chargers industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global DC Chargers market share.
- The current market is quantitatively analyzed from 2021 to 2027 to highlight the global DC Chargers market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global DC chargers market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the DC chargers Market research report:
- Which are the leading market players active in the DC chargers market?
- What would be the detailed impact of COVID-19 on the market?
- What current trends would influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the DC chargers market?
- What are the projections for the future that would help in taking further strategic steps?
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