DC Charger Market is Expected to Reach $221.31 Billion by 2030, Registering a CAGR of 13.2%
Allied Market Research published a report on DC Charger Market by Power Output and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030. The DC charger market size was valued at $67.4 billion in 2020, and is projected to reach $221.31 billion by 2030, registering a CAGR of 13.2%.
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The DC charger market size is expected to witness considerable growth, owing to the increase in number of sales of electric vehicles and consumer electronic devices. The DC charger market size is projected to witness significant growth during the forecast period.
The constantly evolving portable electronics and wearable devices majorly drives the DC charger market growth. Further, increase in number of electric vehicles and the need to charge the electric vehicles boosts the need for DC chargers to charge the batteries of the electric vehicles. Moreover, the need for the constant DC supply in the industrial equipment to charge the batteries and other equipment contributes toward the growth of the DC charger industry revenue.
DC chargers having power output of 10 kW to 100 KW segment contributed the maximum in terms of revenue to the market and accounted for around 47.0% share in 2020. Factors such as surge in adoption of electric vehicles and installation of charging station to charge the electric vehicle battery propels the market growth. DC chargers with power output of less than 10 kW is expected to grow at a decent rate, in comparison to the DC chargers with power output of more than 100 kW, owing to the high demand of the electronics devices.
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Competitive Analysis:
The company profile section of the DC Chargers Market report covers strategic developments, business overview, product offerings, and financial performance of the companies. It also highlights the strategies adopted by companies such as products launch, agreements, partnerships, acquisitions mergers, collaborations, joint ventures, research & development investment, and regional expansion in the past few years.
Some of the major key players of the global DC Chargers Market include,
- ABB Ltd.
- AEG Power Solutions
- Bori S.p.A
- Delta Electronics, Inc.
- Helios Power Solutions Group
- Hitachi Hi-Rel Power Electronics Private Ltd.
- Kirloskar Electric Company Ltd
- Phihong Technology Co., Ltd
- Siemens AG
- Statron Ltd
Fast DC charging for electric vehicles have made it possible for the electric vehicles to cover the distance of more than 350 km and more in a single run. Further, the ever growing consumer electronics which use DC chargers to charge the batteries of most of the electronic devices such as smartphones, laptops, tablets and other wearable devices have contributed toward the growth of the DC charger market.
Rise in sales of smartphones from different manufacturers, primarily Apple Inc., Samsung and other Chinese vendors, and other electronic devices that uses DC charging accelerates the development of DC chargers for the electronics industry.
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Key Findings of the Study
- 10 kW to 100 kW segment is projected to be the major application growth segment during the forecast period.
- U.S. dominated the DC charger market share.
- China is anticipated to witness highest growth rate during the forecast period.
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