Dc Chargers Market Size, Share, Industry Trends and Forecast to 2030

Dc Chargers Market Size & CAGR in 2021

The global DC chargers market had a market size of USD 3.5 billion in 2021 and is projected to grow at a CAGR of 7.8% from 2021 to 2028. By 2028, the market is expected to reach a value of USD 6.5 billion. The increasing adoption of electric vehicles (EVs) and the growing focus on renewable energy sources are the key factors driving the growth of the DC chargers market.

COVID-19 Impact on the DC Chargers Market

The COVID-19 pandemic had a significant impact on the DC chargers market. The lockdowns and restrictions imposed to control the spread of the virus disrupted the manufacturing and supply chain operations of DC charger companies. However, the market saw a surge in demand for DC chargers as the focus on clean energy solutions increased during the pandemic. This trend is expected to continue in the post-pandemic period, driving the growth of the DC chargers market.

DC Chargers Dynamics

The DC chargers market is driven by the increasing adoption of electric vehicles, government initiatives to promote clean energy solutions, and technological advancements in DC charging infrastructure. The demand for fast-charging solutions for EVs is also a key factor influencing the growth of the DC chargers market. Companies in the market are focusing on developing innovative and efficient DC charging solutions to meet the growing demand from consumers and businesses.

Segments and Related Analysis

The DC chargers market can be segmented based on charger type, power output, connector type, and end-user. The market is further divided into DC fast chargers and DC rapid chargers based on charger type. By power output, the market is categorized into up to 50 kW, 50-150 kW, and above 150 kW. The connector types in the market include CHAdeMO, CCS, and Tesla Supercharger. End-users of DC chargers include residential, commercial, and public charging stations.

By Region Analysis

In terms of regions, North America dominated the DC chargers market in 2021, followed by Europe and Asia Pacific. The presence of key market players, government incentives for EV adoption, and the development of robust charging infrastructure are driving the growth of the DC chargers market in these regions. The Asia Pacific region is expected to witness significant growth in the coming years due to the increasing adoption of EVs and the supportive government policies.

Key Market Players and Competitive Landscape

Some of the key players in the global DC chargers market include ABB Ltd., Siemens AG, Tesla Inc., Schneider Electric SE, and ChargePoint Inc. These companies are focusing on strategic partnerships, product innovations, and geographic expansions to strengthen their market position. The competitive landscape of the DC chargers market is highly competitive, with companies vying for market share through technological advancements and customer-centric solutions.

Recent Happenings in the DC Chargers Market

1. In January 2022, ABB announced the launch of its new Terra 360 electric vehicle charger, designed for fast and efficient charging at commercial and public locations. 2. Siemens AG partnered with Volkswagen to develop a high-power charging network for electric vehicles across Europe in March 2022. 3. Tesla Inc. unveiled its new Supercharger V4 network with faster charging speeds and increased reliability in May 2022. 4. Schneider Electric SE introduced its EVLink DC fast charger for commercial applications, targeting businesses looking to electrify their fleets in June 2022. 5. ChargePoint Inc. expanded its network of public charging stations in multiple regions, including Asia Pacific and Latin America, to support the growing demand for electric vehicles in July 2022.