Dublin, April 02, 2024 (GLOBE NEWSWIRE) -- The "Global Hypercharger Market by Port Type (CCS, MCS, ChaoJi, NACS), Hypercharging Compatible Vehicle Sales by Vehicle Type (Passenger Cars, Light Commercial Vehicle and Heavy Commercial Vehicle), and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global Hypercharger market size is projected to grow from 10.4 Thousand Units in 2023 and projected to reach 273.7 Thousand Units by 2030, at a CAGR of 59.5%.
Reducing electric vehicle (EV) prices is expected to drive increased demand in the Hypercharger market, primarily due to government support and technology advancements. Governments worldwide are incentivizing the adoption of electric vehicles through subsidies and tax benefits, making EVs more affordable for consumers. Additionally, continuous advancements in hypercharging technology are enhancing charging efficiency and reducing costs, further incentivizing consumers to opt for electric vehicles. The combination of government support and technological progress creates a favorable environment, fostering greater demand for hypercharging solutions in tandem with more affordable electric vehicles. 
ChaoJi is estimated to grow at a noticeable CAGR during the forecast period
ChaoJi is anticipated to experience significant growth with a noticeable (CAGR) during the forecast period in the Hypercharger market. As a new charging standard, Chaoji stands out by enabling outputs of up to 900 kW, signifying a major leap forward in high-speed charging capabilities. Notably, ChaoJi is a collaborative effort between China and Japan, reflecting a cross-border partnership aimed at advancing hypercharging technology. The innovative features and international collaboration associated with Chaoji position it as a key segment in driving the growth of hypercharging solutions.
North America Region shows high growth potential for Hypercharger market
The Hypercharger market in North America is experiencing significant growth, with Electrify America leading the way through strategic expansions. A key collaboration involves a partnership with TravelCenters of America (TA) to deploy around 1,000 DC fast chargers at 200 locations along major highways over five years. Electrify America, recognized for its expertise in designing and maintaining charging stations, extends its influence by integrating TA into its charging network. This collaboration, along with other industry partnerships, underscores Electrify America's pivotal role in expanding high-speed charging accessibility throughout North America.
The report provides insights on the following:
- Analysis of key drivers (Increase in adoption of Electric Vehicles), restraints (DC Fast Chargers Can overload the grid), opportunities (Electric Truck and Bus Segment witnessing Developments Towards Hyper Charging), and challenges (Inadequate charging infrastructure in rural areas) influencing the growth of the Hypercharger market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Hypercharger market
- Market Development: Comprehensive information about lucrative markets - the report analyses the Hypercharger market across varied regions.
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the Hypercharger market
- Competitive Assessment: In-depth assessment of growth strategies, and service offerings of leading players like ABB (Switzerland), Electrify America (US), Heliox (Netherlands), Tritium (Australia) and IONITY (Germany), others in the Hypercharger market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 50 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 10.4 Thousand Units |
| Forecasted Market Value by 2030 | 273.7 Thousand Units |
| Compound Annual Growth Rate | 59.5% |
| Regions Covered | Global |
Companies Featured
- ABB
- Electrify America
- Heliox
- Tritium
- IONITY
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Premium Insights
5. Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Ecosystem Analysis
5.4 Value Chain Analysis
5.5 Technology Analysis
5.6 Technology Roadmap of Different Kinds of DC Charging
5.7 Current Landscape of EV Charging
5.8 Key Use Cases
5.9 TCO Analysis
5.10 Prospects of Megawatt Charging
5.11 Electric Bus and Trucks Developments Towards Hypercharging
5.12 Key Business Models
5.13 Regulatory and Standardization
5.14 Overcoming Challenges in the Market
6. Hypercharging Compatible Vehicle Sales by Vehicle Type
6.1 Introduction
6.2 Passenger Cars
6.3 Light Commercial Vehicles
6.4 Heavy Commercial Vehicles
7. Hypercharger Market, by Port Type
7.1 Introduction
7.2 NACS
7.3 CCS
7.4 Chaoji
7.5 MCS
8. Hypercharger Market, by Region
8.1 Introduction
8.2 Asia-Pacific
8.3 Europe
8.4 North America
9. Competitive Landscape
9.1 Overview
9.2 Key Player Strategies/ Right to Win
9.3 Competitive Benchmarking
10. Analyst's Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/5o7eu3
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