LYON, France – The emergence of EV DC charging presents a promising business venture for companies specializing in power electronics. This market holds long-term viability due to the continual expansion of charging infrastructure and the coming need for infrastructure replacements. AC chargers will persist alongside OBCs in vehicles until DC infrastructure becomes universally established, a process anticipated to take 10-15 years, announces Yole Group in its DC Charging for Automotive report, 2024 edition.
The total EV DC charging system market will soar to US$23 billion by 2029. While chargers between 50 and 150 kW dominated the market in 2023, there is a noticeable surge in demand for higher-power chargers, particularly those exceeding 150 kW. By 2029, the highest market value, estimated at US$9.2 billion, will be attributed to very high-power chargers (150 kW ≤ x ≤ 350 kW).
According to Milan Rosina, Ph.D., Principal Analyst, Power Electronics & Battery at Yole Group: The integration of 1,000 V chargers is expected. The objective is clearly to simplify the charging experience for EV owners, irrespective of their battery pack voltage (400V or 800V), thereby streamlining the process of ‘plug and go.’ At Yole Group, we think this advancement will alleviate concerns for OEMs with EVs utilizing 800 V battery systems. Indeed, it will eliminate the need to adapt batteries to 500V chargers. Ultimately, this technological shift promises reductions in volume, weight, and cost at the vehicle level.”
In this context, the market research and strategy consulting company Yole Group releases today an update of its annual report, DC Charging for Automotive 2024. This 2024 edition provides an overview of the main applications, market drivers, challenges, and trends of EV DC chargers. Yole Group’s analysts offer today a deep dive into EV DC technologies and the major technical and market trends that will shape tomorrow’s power electronics industry. In addition, they detail the EV DC supply chain and analyze the competitive landscape and the evolution of business models. Synergies with other industries and the numerous opportunities for newcomers are also well-detailed in this report…
To read the full story, please click: EV DC charging: the SiC revolution
