Asia Pacific Electric Vehicle (EV) Fast Charging System Market 2030

Asia Pacific market of EV fast charging system (AKA high-power chargers) will grow by 30.0% annually with a total addressable market cap of $151.9 billion over 2020-2030 driven by the rising number of government policies for electric vehicles, better availability of charging infrastructure and minimizing carbon dioxide emissions. An electric vehicle charging station, also known as electric vehicle supply equipment (EVSE), refers to a device that is utilized for charging plug-in electric vehicles (EVs), such as electric cars, neighborhood EVs and hybrids. The charging stations make use of energy controller, facility meter, software application, and energy conversion system connected to the power grid. The increase in the electric vehicle (EV) sales across the region acts as one of the major factors driving the growth of electric vehicle charging stations market. The consumer preference is rapidly inclining towards passenger and commercial electric vehicle (EV) due to the rising environmental consciousness. The rise in technological advancements, such as integration of all-EV charging stations systems with the Internet of Things (IoT) and real-time information solutions accelerate the market growth. The technologies provide real-time data about the availability of vacant spots and locate nearby charging stations.

The increase in the shift towards developing new technologies as autonomous park and charge, wireless charging and ultra-fast DC charging network lithium-ion batteries further influence the market. Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the electric vehicle charging stations market. Furthermore, use of V2G EV charging stations for electric vehicles and development of EV charging stations using renewable sources extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, rise in demand for battery swapping EV charging stations will further expand the market.

On the other hand, lack of standardization of charging infrastructure and primitive power grid infrastructure are expected to obstruct market growth. Also, high initial cost of EVs compared to ICE vehicles and stringent rules for installation of EV charging stations are projected to challenge the electric vehicle charging stations market in the forecast period

Australia is expected to grow at the highest CAGR during the forecast period. The growing number of government policies and investments has fueled the EV charging stations market in the country. Zero-emission driving has encouraged consumers to adopt electric vehicles, thereby increasing the market of EV charging stations over the coming years. According to Infrastructure Australia (IA), developing a fast-charging network for electric cars is considered one of Australia's highest national priorities over the next five years. By 2040, electric vehicles (EVs) are projected to account for 70% to 100% of new vehicle sales. New Zealand is expected to hold the second position in terms of market growth rate during the forecast period. The high growth rate is mainly attributed to the growing number of electric vehicles in the country. For instance, NZ Transport Agency announced its plans to install a rapid charger every 75km along NZ's main state highways to allow low-range vehicles intercity travel.

Recent Developments

• In March 2020, ChargePoint, Inc. introduced the first Charging Forward report modules named as “Charging Forward at Work” that will serve as a reference for those exploring the electric vehicle (EV) mobility market. Charging Forward at Work will bring the Electric Revolution to the workplaces of customers. This has helped the company to enhance their product portfolio and grow in the market.
• In March 2019, Tesla launched V3 Supercharging which is the world’s largest grid-connected batteries that enables the vehicles to charge faster than any other electric vehicle. The V3 supercharging is inbuilt with the 1MW power cabinet that is having the same design for utility-scale products that support peak rates of up to 250kW per car. The launch of the new product is going to enhance the brand image along with productivity for the company enhancing its revenue

COVID-19 Impact

The COVID-19 pandemic had a moderate impact on the electric vehicle charging stations market owing to the global lockdowns. Due to the incentives from governments, the demand for EVs and related markets increased in 2021. The number of private and public EV chargers is increased top charging station manufacturers and network operators. Government and market key players adopted new safety measures for developing the manufacturing practices. The advancements in the technology escalated the sales rate of the charging as it targeted the right audience. The increase in sales of electric vehicles across the globe is expected to further drive the market growth in the post-pandemic scenario

Highlighted with 31 tables and 48 figures, this 112-page report “Asia Pacific Electric Vehicle (EV) Fast Charging System Market 2020-2030 by Connector Type, Charging Power, Application, Vehicle Type, EV Type, and Country: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire Asia Pacific EV fast charging system market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2015-2020 and provides forecast from 2021 till 2030 with 2020 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)
In-depth qualitative analyses include identification and investigation of the following aspects:
• Market Structure
• Growth Drivers
• Restraints and Challenges
• Emerging Product Trends & Market Opportunities
• Porter’s Fiver Forces
The trend and outlook of Asia Pacific market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19. The balanced (most likely) projection is used to quantify Asia Pacific EV fast charging system market in every aspect of the classification from perspectives of Connector Type, Charging Power, Application, Vehicle Type, EV Type, and Country.

Based on Connector Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• CHADeMO
• SAE Combo Charging System
• Supercharger
• GB/T

Based on Charging Power, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• 50-150 KW
• 150-350 KW
• Over 350 KW

Based on Application, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• Public Fast-charging Systems
• Private Fast-charging Systems

Based on Vehicle Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• Light Vehicles
• Heavy Vehicles

Based on EV Type, the Asia Pacific market is segmented into the following sub-markets with annual revenue ($ mn) for 2020-2030 included in each section.
• Battery Electric Vehicle (BEV)
• Plug-in Hybrid Electric Vehicle (PHEV)

Geographically, the following national/local markets are fully investigated:
• Japan
• China
• South Korea
• Australia
• India
• Rest of APAC (further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines)
For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2020-2030. The breakdown of key national markets by Charging Power, Application, and EV Type over the forecast years are also included.

The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.
Specifically, potential risks associated with investing in Asia Pacific EV fast charging system market are assayed quantitatively and qualitatively through GMD’s Risk Assessment System. According to the risk analysis and evaluation, Critical Success Factors (CSFs) are generated as a guidance to help investors & stockholders identify emerging opportunities, manage and minimize the risks, develop appropriate business models, and make wise strategies and decisions.
Key Players (this may not be a complete list and extra companies can be added upon request):
ABB Ltd.
Blink Charging Co.
BP Chargemaster Ltd.
Broadband TelCom Power, Inc.
ChargePoint Inc.
Delta Electronics, Inc.
Efacec Electric Mobility
EVBox
EVgo
ShenZhen SETEC Power Co., Ltd.
Siemens AG
Signet EV Inc.
Star Charge
Tesla, Inc.
Tritium Pty Ltd
Xi'an TGOOD Intelligent Charging Technology Co., Ltd.
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)