According to Emergen Research, the electric vehicle fast charging market will grow by $2.30 billion by 2027.
— Emergen Research
VANCOUVER, BRITISH COLUMBIA, CANADA , Jan. 23, 2023 /EINPresswire.com/ — The global market for electric vehicle fast charging systems was valued at USD 368.4 million in 2019 and is expected to reach USD 2.30 billion by 2027 US at a CAGR of 25.6%, according to the latest Emergen Research report. Electric Vehicle Fast Charging Systems Market by Vehicle Type (Light Cars, Heavy Cars, Electric Bicycles), by Charger Type (CCS, CHADEMO, Tesla Supercharger), by Installation Type (Portable, Stationary), by Application, by Battery Type, and by automotive technologies, forecasts until 2027
More public transport routes are switching to electric vehicles due to higher profits. These public transport owners need a fast charging system that reduces their vehicle’s downtime and increases their ability to deliver greater operational efficiency.
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Scope of the report:
Forecast period: 2023-2027
Base year: 2021
Number of pages: 250
The top companies operating in the electrotherapy market profiled in the report are:
Advanced Vehicle Manufacturing, Inc.
Delta Electronics, Inc.
Blink Charging Co,
Hong Kong EV Power Limited,
Quick Buy Electric Vehicle Fast Charging System Market
Key findings of the report suggest
The market in Asia Pacific contributed the largest share of the plug-in hybrid PHEV market in 2019, in terms of value, and is likely to grow at the fastest rate of 39.8% during the forecast period, owing to rising concerns about environmental pollution and government support for promotion sustainable mobility.
Heavy-duty vehicles cannot use the same fast charging infrastructure as passenger cars. They require larger batteries, higher power stations, consume more energy and require faster charging systems for fast charging. In this way, the demand for heavy-duty vehicles is purposefully increasing.
In March 2019, Tesla introduced V3 Supercharging, the next step in the growth of Tesla’s Supercharger network.
By region, North America held the largest share of the electric vehicle fast charging systems market in 2019. The market is projected to grow significantly due to widespread adoption across various verticals, particularly in the North America region. Widespread deployment of electric vehicle fast charging infrastructure, particularly in the United States, and rising investment in electric vehicle charging infrastructure are expected to drive market demand.
Asia Pacific is expected to accelerate with the fastest growth rate of 28.2% during the forecast period of 2020 to 2027 due to the tremendous growth of hybrid electric vehicles, especially for heavy-duty applications.
Segments covered in the report
Forecast by Vehicle Type (Revenue: Billion USD; Volume: Thousand Units; 2017-2027)
Charger Type Forecast (Revenue: Billion USD; Volume: Thousand Units; 2017-2027)
TYPE-2 (IEC 62196)
Forecast by Installation Type (Revenue: Billion USD; Volume: Thousand Units; 2017-2027)
Application Forecast (Revenue: Billion USD; Volume: Thousand Units; 2017-2027)
Battery Type Forecast (Revenue: Billion USD; Volume: Thousand Units; 2017-2027)
Nickel Cadmium (Ni-Cd)
Solid State Lithium Ion (SSB)
Automotive Technology Forecast (Revenue: Billion USD; Volume: Thousands of Units; 2017-2027)
Plug-in Hybrid Electric Vehicles (PHEVs).
Battery Electric Vehicles (BEV)
Methodology and sources
Scope of research
Technique of market assessment
Summary review, 2019-2027
Market Segmentation and Impact Analysis of Electric Vehicle Fast Charging System
Market Materials Segmentation Analysis of Electric Vehicle Fast Charging System
Analysis of market indicators
Analysis of market drivers
The spread of heavy electric vehicles is growing
Significant growth of fast public charging infrastructure
Analysis of market constraints
Lack of sufficient public charging infrastructure
Porter’s Five Forces Analysis
Competitive Analysis of Metric Space
Analysis of the price trend
Analysis of the impact of Covid-19
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