DC Chargers Market

The DC chargers market size was valued at $67.40 billion in 2020, and is projected to reach $221.31 billion by 2030, registering a CAGR of 13.2% from 2021 to 2030. 

The automotive segment impacted negatively, due to COVID-19.

DC chargers provide DC power output. DC batteries consume DC power and are used to charge batteries for electronics devices, along with automotive and industrial applications. They convert the input signal to DC output signal. DC chargers are preferred type of chargers for most of the electronic devices. In DC circuits, there is a unidirectional flow of the current as opposed to the AC circuits. DC power is used whenever, AC power transmission is not feasible to transport. 

The DC chargers are increasingly used to charge portable electronic devices such as cellular phones, laptops, tablets, and other wearable devices. The global DC chargers market revenue is expected to witness significant growth as the demand for these portable devices is on the rise. DC chargers find applications in smartphones, laptops, tablets, electric vehicles, and industrial equipment.

DC chargers for electric vehicles is a latest innovation in the automotive industry. They provide DC power directly to the electric vehicles. DC chargers for electric vehicles have made it possible to cover the distance of 350 km and more in a single charge. The fast DC charging have helped the vehicle owners and drivers to recharge during their travelling time or on a short break as opposed to being plugged in overnight, for number of hours to get completely charged. Different types of fast DC chargers are available in the market. They are combined charging system, CHAdeMO and Tesla supercharger. 

Segmentation

The DC Chargers market share is analyzed on the basis of power output, end use, and region. By power output, the market is divided into less than 10 kW, 10 kW to 100 kW and more than 100 kW. By end use, it is classified into automotive, consumer electronics, and industrial. By region, the market is studied across North America, Europe, Asia-Pacific and LAMEA.

The key players profiled in the DC charger market report includes 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, and Statron Ltd. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance DC chargers market forecast and penetration.

COVID-19 Impact:

The ongoing spread of COVID-19 has become one of the biggest threats to the global economy and is causing widespread concerns and economic hardship for consumers, businesses, and communities across the globe. The “new normal” that includes social distancing and working from home has created challenges with daily activities, regular work, needs, and supplies, causing delayed initiatives and missed opportunities.

The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the supply chain. It is creating uncertainty in the stock market, reducing business confidence, hampering the supply chain, and increasing panic among customers. European countries under lockdown have suffered a major loss of business and revenue due to shutdown of manufacturing units in the region. Operations of production and manufacturing industries have been heavily impacted by the DC chargers market growth in 2020.

According to the DC chargers market trends, the COVID-19 pandemic has severely impacted the manufacturing and industrial sectors as production facilities have stalled, which, in turn, leads to significant demand in industries. The emergence of COVID-19 has lowered the growth of the DC chargers market revenue in 2020. Nevertheless, the market is estimated to witness significant growth during the forecast period. 

Top Impacting Factors

Notable factors positively affecting the growth of the DC chargers market size include increase in sales of electric vehicles and rise in number of portable and wearable electronic devices. Electronic devices such as smartphones, smartwatch, headphones, witnesses high demand. Further, increase in penetration of electric vehicles fuels the demand for DC charger industry. The design of fast DC chargers to charge electric vehicles in in a short time period drives the growth of the global market. Furthermore, the continuous requirement of the DC chargers in the industrial applications are expected to offer opportunities for the growth of the DC fast chargers market in the coming years. Further, the support of government in the form of subsidy to the use of electric vehicles have further increased the DC chargers market growth.

Key Benefits For Stakeholders

• This study comprises analytical depiction of the DC charger market size along with the current trends and future estimations to depict imminent investment pockets.
• The overall DC charger market analysis is determined to understand the profitable trends to gain a stronger foothold. 
• The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
• The present DC charger market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency. 
• Porter’s five forces analysis illustrates the potency of the buyers and the DC charger market share of key vendors.
• The report includes the market trends and competitive analysis of key vendors operating in the DC charger market.

 DC Chargers Market Report Highlights