USD 676 million
High Power Charging System Market Size, Share, Growth Analysis, By Application(Home charging systems and commercial charging systems and others), By Mode of charging(Plugin charging system, wireless charging system and others), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20E2021 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
60
|Figures:
75
High Power Charging System Market Insights
Global High Power Charging System Market size was valued at USD 676 million in 2019 and is poised to grow from USD 870 million in 2023 to USD 4400 million by 2031, growing at a CAGR of 28.5% in the forecast period (2024-2031).
High Power Charging Systems are becoming popular since Technologies are fully into our daily lives. With the help of high power charging, also called ultra Fast Charging system, EV batteries are charged in much shorter time than with this standard AC charging. Availability of this type of system of fast charging will become the decision maker for many drivers in switching to electric vehicles and helping to have positive impact on the environment.
More the power of the charging system, more charging sessions and more revenue would be generated. The 3 most important benefits for the charging point installer is that it can have higher revenues, shorter charging time, so that many vehicles would be charged at Lesser time and higher utilization. Hi Power Charging system offers significant time saving compared to the traditional charging systems.However, high power charging is a premium services for EV drivers, therefore the cost associated with it is high, which is likely to hamper the growth of market.
US High Power Charging System Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Home charging systems
Fastest Growth
Home charging systems
Growth Rate
28.5% CAGR
Global High Power Charging System Market by Application ($ Bn)
Country Share for North America Region (%)
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High Power Charging System Market Segmental Analysis
Global High Power Charging System market is segmented on the basis of application, Mode of charging and region. By application, the High Power Charging System Market is segmented into Home charging systems and commercial charging systems and others. By Mode of charging, the High Power Charging System Market is segmented into Plugin charging system, wireless charging system and others. By region, the High Power Charging System Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
High Power Charging System Market Analysis by Application
By application, the global market is divided into many segments such as Home charging systems and commercial charging systems and others. The commercial charging systems segment held the largest global High Power Charging System market share due to the wide range of benefits provided by High Power Charging System in it.As they are suited for long distance travel and intend to charge various amounts of vehicles weekly, they are in great demand in commercial segments.
Global High Power Charging System Market by Application
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High Power Charging System Market Regional Insights
Globally, Asia Pacific is estimated to hold the highest global High Power Charging System market share. Main factors during this growth period are the presence of top market players, Increasing demands,and others.
Above all, Asia Pacific is expected to grow fastest during the forecast period. The reason for the same is increasing acquisition of High Power Charging System technology in the region of Asia Pacific and mainly in China and Japan. Penetration of Clean transportation in Asia Pacific has doubled in the last few years. In addition, various operators are investing heavily in order to provide services at an affordable price to the consumers, which is likely to boost the demand for High Power Charging System in the region.
Global High Power Charging System Market By Region
- Largest
- Fastest
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High Power Charging System Market Dynamics
High Power Charging System Market Drivers
Shorter Charging Time to Bolster its Market Growth
- In high traffic areas like transportation hub, sun location along the railway station, airports placing high power charging system.The location would be essential in easing the range anxiety of many drivers to decide if switched from ice to EV.Along with the.Lesser time to charge which is off for buy high power charging systems would help to utilize the charging system more.This increasing utilization send lesser time consumption is driving the growth of high power charging station market.
High Power Charging System Market Restraints
High Cost to Hinder Market Growth
- High Power Charging station is considered as a premium service for electronic vehicle drivers Therefore, the cost associated with it is not affordable for the normal EV bike holder.Therefore, it is important that the charging system needs to be Standardized, so that it allows several manufacturers to use common charging system.Along with a these high power system, installation is the major responsibility often falls on the manufacturer. That is why people often tend to look for alternate solutions.
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High Power Charging System Market Competitive Landscape
Competition in the global High Power Charging System market is expected to increase during the forecast period because new players are expected to enter in the global market and the number of devices compatible with High Power Charging System will also increase. Currently, only a few key players are providing their services in the global market but these numbers will increase in the upcoming years.
High Power Charging System Market Top Player’s Company Profiles
- ABB Ltd.
- Tesla Inc.
- Siemens AG
- Schneider Electric SE
- Eaton Corporation plc
- Fuji Electric Co. Ltd.
- ChargePoint Inc.
- EVBox Group
- Tritium Pty Ltd.
- Delta Electronics Inc.
- Alfen N.V.
- Engie SA
- Innogy SE
- Allego B.V.
- Heliox BV
- Zaptec AS
- Circontrol SA
- DBT-CEV SAS
- Webasto SE
- Electreon Wireless Ltd.
High Power Charging System Market Recent Developments
- In October 2022, Orion Energy Systems, Inc. (NASDAQ: OESX) (Orion Lighting), a provider of energy-efficient LED lighting, controls and electrical installation and maintenance services announced its expansion into the electric vehicle (EV) charging station market through the acquisition of Voltrek, LLC.
High Power Charging System Key Market Trends
- One of the vital aspects that emphasize the need for charging infrastructure development is adoption of electric cars across the globe. Major electric vehicle development countries are spending heavily on research and development for easier and more efficient electric vehicle charging techniques that aim for high power charging systems.
High Power Charging System Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global High Power Charging System market analysis, the global market is estimated to have significant growth during the forecast period because of the benefits it consists of such as EV batteries are charged in much shorter time than with this standard AC charging. Availability of this type of system of fast charging will become the decision maker for many drivers in switching to electric vehicles and helping to have positive impact on the environment. High Power Charging Systems will enable devices to be more convenient for their users. The market has so much potential for new players also because of the high expected rate of growth and demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 676 million |
| Market size value in 2031 | USD 4400 million |
| Growth Rate | 28.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on High Power Charging System Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on High Power Charging System Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the High Power Charging System Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the High Power Charging System Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the High Power Charging System Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the High Power Charging System Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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