About Fast Charging
Global fast charging refers to quick charging station of electrical vehicles. There are two type of fast chargers such as AC charger and DC charger. There are various technologies used for the fast charging such as CHADeMO, SAE combo and Supercharger. Rising popularity of electrical vehicles and adoption of DC chargers will help to boost global fast charging market. Additionally, Growing Concern of environment pollution helps to drive fast charging market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The race for faster charging batteries is only going to intensify, driven by consumer demand for shorter charging times and longer EV range. As technology advances and partnerships flourish, we can expect to see significant breakthroughs in the coming years, potentially paving the way for a future where charging an EV is as quick and convenient as refueling a gasoline car. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Fast Charging market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Chargepoint (United States), ABB (Switzerland), Eaton (Ireland), Blink (United States), Schneider (France), Siemens (Germany), General Electric (United States), AeroVironment (United States), Panasonic (Japan) and Chargemaster (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Elektromotive (United Kingdom) and Clipper Creek (United States).
Segmentation Overview
AMA Research has segmented the market of Global Fast Charging market by Type (AC Charging and DC Charging), Application (Bus, Truck and Other Vehicles) and Region.
On the basis of geography, the market of Fast Charging has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Switzerland, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. CHADeMO will boost the Fast Charging market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Popularity of DC Charging Stations and Growing Concern towards Environmental Pollutions
Market Growth Drivers:
Government Support towards Electric Vehicles and Growing Consumer Preference towards Electrical Charging Vehicles
Restraints:
Stress Induced on Batteries Due to Fast Charging
Opportunities:
Rising Opportunity in Wireless Charging
Market Leaders and their expansionary development strategies
In December 2023, Hero MotoCorp Partners with Ather Energy for interoperable fast charging network. This collaboration, EV users will be able to seamlessly use both VIDA and Ather Grids across the country. The combined network will cover 100 cities with over 1,900 fast charging points, Hero MotoCorp said in an exchange filing.
In November 2023, DESTEN has introduced the Ultra-Fast Charging, 6C LFP (Lithium Iron Phosphate) cell. The latest pouch form-factor cell from DESTEN is capable of charging from 20% to 80% SOC in 6 minutes. Owing to its LFP-based chemistry, this cell features an impressive chemical and temperature stability profile, making for the safest battery technology available to date, alongside market-leading cost efficiency.
Key Target Audience
Fast Charger Manufactures, Fast Charger Retailors/Distributors, Automobile Industries, Private Industry Associations, Government Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.