Integrated DC Charging Piles Market REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global integrated DC charging piles market size was USD 1134 in 2022 and market is projected to touch USD 8252.6 million by 2031, at a CAGR of 24.7% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, with integrated DC charging piles experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Integrated DC charging piles, also known as integrated DC fast chargers or integrated DC charging stations, are charging systems designed for electric vehicles (EVs) that provide high-power direct current (DC) charging capabilities. These charging stations are built to deliver a significant amount of electricity to quickly charge EVs, reducing charging times compared to slower alternating current (AC) chargers.
Integrated DC charging piles are capable of delivering high-power DC charging, typically ranging from 50 kW to 350 kW or more. This enables faster charging times, allowing EVs to recharge a significant portion of their battery capacity in a relatively short period. Integrated DC charging piles often support multiple charging standards to cater to different EV models. The most common charging standards are CHAdeMO and CCS (Combined Charging System). Some charging stations may also support Tesla's Supercharger standard or other proprietary standards.
COVID-19 IMPACT: Contactless Payment Systems to Boost Demand Significantly
COVID-19 had a life changing impact globally. The integrated DC charging piles market was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for integrated DC charging piles experienced an increased demand.
The pandemic caused disruptions in supply chains and construction activities, leading to delays in the installation and deployment of charging infrastructure, including integrated DC charging piles. Many projects were put on hold or experienced significant delays due to lockdowns, social distancing measures, and reduced workforce availability. There was a decline in overall travel and transportation activities as people stayed at home and travel restrictions were implemented. This resulted in a decrease in the demand for EV charging infrastructure, including integrated DC charging piles.
Despite the challenges posed by the pandemic, there have been efforts to adapt and innovate in the EV charging sector. Contactless payment systems and remote monitoring capabilities have gained importance to minimize physical interactions and enhance safety. These adaptations have influenced the design and features of integrated DC charging piles. The market is anticipated to boost the integrated DC charging piles market share following the pandemic.
LATEST TRENDS
"Increased Charging Power to Broaden Market Growth"
There has been a push to increase the charging power of integrated DC charging piles. Manufacturers are developing charging stations with higher power outputs, ranging from 150 kW to 350 kW and beyond. This enables even faster charging times, reducing the overall time required to recharge EV batteries. Several companies are working on next-generation integrated DC charging piles capable of ultra-fast charging. These stations aim to provide charging speeds of 500 kW or more, enabling EVs to add a substantial amount of range in a very short time.
There is a growing trend of integrating integrated DC charging piles with renewable energy sources such as solar power. This integration allows for cleaner and more sustainable charging, reducing the environmental impact of EV charging. Some charging stations are incorporating battery storage systems to store excess renewable energy for charging during peak demand periods or when renewable energy supply is limited. These latest developments are anticipated to boost the integrated DC charging piles market share.
Integrated DC Charging Piles Market SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type, the market is divided into Below 60KW, 60KW-180KW, and Above 180KW.
Below 60KW holds a major share of the global market.
- By Application
Based on application, the market is bifurcated into Residential, and Public.
Residential as application holds a major share of the global market.
DRIVING FACTORS
"Long Distance Travel Needs to Boost Market Share"
Integrated DC charging piles are particularly important for enabling long-distance travel with electric vehicles. These charging stations are strategically deployed along highways and major travel routes to provide convenient access to fast charging. The ability to recharge quickly at these stations helps address the concern of EV range limitations during long trips. The global market for electric vehicles has been expanding rapidly, due to advancements in EV technology. As the number of EVs on the roads continues to grow, the demand for efficient and accessible charging infrastructure, including integrated DC charging piles, also increases.
"Faster Charging Times to Boost Market Size"
Battery technology for electric vehicles is continuously improving, enabling larger battery capacities and longer driving ranges. As EV batteries evolve, the demand for higher-power charging infrastructure, such as integrated DC charging piles, grows. These stations can provide the necessary power levels to charge EVs with larger battery capacities effectively. These factors are anticipated to drive the integrated DC charging piles market share.
RESTRAINING FACTORS
"Grid Capacity & Infrastructure to Hamper Market Share"
High-power integrated DC charging piles require substantial electrical infrastructure and grid capacity to deliver the necessary power levels. In some cases, the existing grid infrastructure may not be capable of supporting the addition of multiple high-power charging stations without significant upgrades. Addressing these limitations and ensuring adequate grid capacity can be challenging and time-consuming, potentially slowing down the deployment of integrated DC charging piles. The factors are anticipated to hinder the growth of the integrated DC charging piles market share.
Integrated DC Charging Piles Market REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"Europe Dominates the Integrated DC Charging Piles Market "
Europe is the major shareholder for the integrated DC charging piles market share. The region has implemented ambitious plans and incentives to promote EV adoption. The European Union's focus on reducing greenhouse gas emissions and its stringent emission standards have driven the demand for integrated DC charging piles and supported the growth of charging infrastructure networks across the continent. APAC is the second major shareholder for the integrated DC charging piles market share.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- ABB [Switzerland]
- TELD (Tesla Electric) [China]
- Star Charge [China]
- Xuji Group [China]
- Efacec [Portugal]
- Zhejiang Wanma [China]
- Sinexcel [China]
- IES Synergy [Singapore]
- EAST (Beijing Electric Vehicle Charging Technology Co., Ltd.) [China]
- Siemens [Germany]
- Shenzhen INVT Electric Co., Ltd. [China]
- Eaton [Ireland]
- Shenzhen Increase Electric Co., Ltd. [China]
- KSTAR New Energy [China]
- Auto Electric Power Plant (AEP) [Ukraine]
- Sunrise Power [China]
- DBT-CEV [France]
- Luoyang Grasen Power Technology Co., Ltd. [China]
- Henan Senyuan Electric Co., Ltd. [China]
- Aipower [China]
REPORT COVERAGE
This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 1134 Million in 2022 |
Market Size Value By |
US$ 8252.6 Million by 2031 |
Growth Rate |
CAGR of 24.7% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the Integrated DC Charging Piles market expected to touch by 2031?
The global integrated DC charging piles market is expected to reach USD 8252.6 million by 2031.
-
What CAGR is the Integrated DC Charging Piles market expected to exhibit by 2031?
The Integrated DC Charging Piles market is expected to exhibit a CAGR of 24.7% by 2031.
-
Which are the driving factors of the Integrated DC Charging Piles market?
Long Distance Travel Needs and Faster Charging Times are drivers of this Integrated DC Charging Piles market.
-
Which are the top companies operating in the Integrated DC Charging Piles market?
ABB, TELD, Star Charge, Xuji Group, Efacec, Zhejiang Wanma, Sinexcel, IES Synergy, EAST (Beijing Electric Vehicle Charging Technology Co., Ltd.), Siemens, Shenzhen INVT Electric Co., Ltd., Eaton, Shenzhen Increase Electric Co., Ltd., KSTAR New Energy, Auto Electric Power Plant (AEP), Sunrise Power, DBT-CEV, Luoyang Grasen Power Technology Co., Ltd., Henan Senyuan Electric Co., Ltd., and Aipower are key companies operating in the Integrated DC Charging Piles market.