The rising trend of electric vehicles (EVs) is leading to a new era for DC chargers. The industries are heavily investing in DC chargers in order to contribute to scaling up the charging infrastructure for the electric vehicle. The rapid expansion of EV charging technologies across the world is fuelling the opportunities for DC chargers.
Although DC fast chargers do not make too much of the EV chargers so far. However, it is on its way to becoming more and more popular in the coming years. Most of the EV charging networks are now focusing on DC chargers along with increasing their investments. The most predominant reason for this is probably the fastest charging rate of DC chargers over the more common AC chargers.
With the growing adoption of EVs, consumers are highly appreciating fast charging infrastructures. This in turn is leading the market players and companies to come up with new strategies. Since people demand fast chargers for EVs, the government and companies are preferring to invest in DC charging stations. All these aspects are elevating the growth of the industry and the market is expected to progress even higher in the coming years. According to a report published by Allied Market Research, the global DC charger market is expected to garner $221.31 billion by 2030.
Owing to the wide adoption of EVs the market players are following different policies and plans. New trends are getting followed among the companies to attract the customer base along with contributing to the market growth. Various activities are taking place in the market field. This article, moreover, aims to provide some of the recent happenings that are expected to flourish in the future.
Introduction of innovations is the key trend getting highly followed among the market players. The companies are launching new and effective products to benefit the charging infrastructure and provide the best services. Recently, a Chinese automobile corporation has reported regarding the launch of its new and more powerful charger. Earlier, the company had presented charge multiplier speeds of 3C and 6C on a graphene-based battery in an EV that has offered magnificent power charging in the minimum time period.
An EV start-up company in Delhi, India, Ather Energy, also announced offering its fast-charging connector to boost the adoption of EVs. The company aims to set the scene for Interpolarable two-wheeler fast charging platform. The charger, furthermore, is designed by the company that has a combination of both AC and DC charging with the same connector. The size of the charger is suitable for two-wheelers and three-wheelers with control and proximity pilot.
Apart from this, partnerships and mergers are other major trends followed among the market players. Volta, an EV charging solutions provider has recently announced its partnership with Six Flags Entertainment, an American amusement park corporation. The partnership aims to make availability of EV chargers for its guests of six flag corporations at the park. The amusement corporation aims to modernize the experience of its guests by providing this technology accessible along with committing to environmental sustainability. Six flags will be the first amusement organization equipped with Volta charging stations.
DC chargers for electric vehicles are growing as the latest innovation in the automotive industry. The fast DC charging station is assisting both the industry players as well as consumers to better services and advantages. As the companies are coming up with new technologies and initiatives, there are different types of fast DC chargers available in the market. The technology, moreover, is highly evolving, owing to which an array of trends are getting identified by the market players. The regulations based on vehicle emission are increasing the adoption of EVs. Also, people nowadays are increasingly getting concerns regarding increasing impacts on the planet, thereby switching towards green technologies. All these aspects, therefore, are bringing new opportunities along with modifying charging infrastructure across the world.
Apart from EVs, DC chargers are also getting high demand from the consumer electronics sector. And the government bodies are also coming forward to support fast charging infrastructures. However, the factors such as high cost associated with DC charger and related facilities creates challenges for the market players to a certain extent. Nevertheless, the high investments for smart cities that are leading to widening the adoption of easier solutions including EV chargers. At the same time, the market players are introducing innovations and are leading to accept new technologies for advanced solutions. The rapid charging provided by the DC charger, becoming the major driver, makes it more preferable over other options. All these aspects, moreover, are contributing to the market growth. And with further technological advancements and the adoption of new strategies the market is expected to rise even more in the coming years.
About the Author :
Akshita Pacholi has accomplished Master degree in English Literature and presently is working as a content writer with Allied Market Research. She loves reading, writing short stories, poems, and blogs. She is a selective sports’ admirer and is curious to learn new things.
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