The DC charger market size is projected to witness significant growth during the forecast period.
— Allied Market Research
WILMINGTON, DE, UNITED STATES, September 28, 2023 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “DC Chargers Market by Power Output and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030”.
The DC charger industry 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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DC Chargers or direct current chargers are designed and developed for charging and recharging of electronic devices, automotive vehicles, and industrial equipment. These DC chargers are the prime components of the electric vehicle charging station as they supply electric energy required to recharge the electric vehicle. DC chargers recharge electric vehicles at a faster rate than AC chargers. DC chargers having power output of 10 kW to 100 kW is the most extensively used charger owing to its increased incorporation in charging of automotive vehicles and industrial equipment. Chargers having power output of less than 10 kW and more than 100 kW are expected to grow decently over 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 market revenue. However, high cost of the fast DC charger is expected to hinder the market growth.
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The competitive environment of DC Chargers Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, DC Chargers Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.
Some of the major key players of the POLED panel industry 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
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.
Rise in demand for electrical vehicles, requirement of fast charging, and surge in the growth of the consumer electronics market drive the growth of the DC chargers market. In addition, market growth is driven by the various government initiatives that support toward the growth of the electric vehicles. 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.
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Key Benefits for Stakeholders:
1. This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the DC Chargers Market analysis from 2022 to 2032 to identify the prevailing DC Chargers Market opportunities.
2. The market research is offered along with information related to key drivers, restraints, and opportunities.
3. Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
4. In-depth analysis of the DC Chargers Market segmentation assists to determine the prevailing market opportunities.
5. Major countries in each region are mapped according to their revenue contribution to the global DC Chargers Market forecast.
6. Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
7. The report includes the analysis of the regional as well as global DC Chargers Market trends, key players, market segments, application areas, and market growth strategies.
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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