Portland,OR, Aug. 11, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global DC chargers market was estimated at $67.40 billion in 2020 and is expected to hit $221.31 billion by 2030, registering a CAGR of 13.2% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Rising demand for consumer electronics, increase in number of electric vehicles, and a number of government initiatives taken in this regard drive the growth of the global DC chargers market. On the other hand, high cost of DC chargers impedes the growth to some extent. However, emergence of high-end charging station infrastructure is expected to create lucrative opportunities in the industry.
COVID-19 Scenario:
- The outbreak of the pandemic led to distorted operations in the production and manufacturing industries. Also, European countries under lockdown suffered a major loss of business and revenue, due to shutdown of manufacturing units in the region. These factors gave way to a steep decrease in demand for DC chargers across the globe.
- However, government bodies in different countries have now slackened off the existing regulations, and the market is expected to revive soon.
The global DC chargers market is analyzed across power output, end use, and region. Based on power output, the 10 kW To 100 kW segment accounted for nearly half of the total market share in 2020, and is anticipated to lead the trail by the end of 2030. The same segment would also cite the fastest CAGR of 13.80% from 2021 to 2030.
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Based on end use, the industrial segment contributed to more than half of the total market revenue in 2020, and is expected to dominate by 2030. The automotive segment, on the other would manifest the fastest CAGR of 30.70% throughout the forecast period.
Based on region, Asia-Pacific held the major share in 2020, garnering nearly one-third of the global DC chargers market. The region would also register the fastest CAGR of 14.10% during the forecast period. The other provinces studied in the report include North America, Europe and LAMEA.
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The key market players analyzed in the global DC chargers market report include AEG Power Solutions, Bori S.p.A., Siemens AG, Delta Electronics, Inc., ABB Ltd., Helios Power Solutions Group, Kirloskar Electric Company Ltd, Hitachi Hi-Rel Power Electronics Private Ltd., Phihong Technology Co., Ltd, and Statron Ltd. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
