EV DC chargers are a growing opportunity for power electronic devices, worth $347M by 2026.
Key features of the report:
- Market metrics and forecasts for DC EV chargers
- Analysis of the drivers and challenges for electric vehicles and EV charging infrastructure
- Overview of the main technological trends and ongoing developments for DC EV charger power electronics at each level, including charging station, charger topology, power device, semiconductor technology, and their impact on the market and supply chain evolution
- Overview of the EV DC charging infrastructure supply chain
- Market metrics and forecasts for DC EV charger-related power electronic components
- Analysis of the evolution of electric and plug-in hybrid electric vehicles and how it impacts the DC EV charging market
Objectives of the report:
- Provide market metrics and forecasts for DC EV chargers
- Analyze the drivers and challenges for electric vehicles and EV charging infrastructure
- Present main technological trends and ongoing developments for DC EV charger power electronics at each level, including charging station, charger topology, power device and semiconductor technology
- Provide market metrics and forecasts for DC EV charger-related power electronic devices
- Present the evolution of electric and plug-in hybrid electric vehicles and how this impacts DC EV charging market
- Analyze how business models and supply-chains evolve
Table of content
Glossary and definitions 2
Focus of the report and report scope 9
Who should be interested by this report 13
Executive summary 19
EV charging solutions 56
- Where does the demand for charging solutions come from?
- PHEV/BEV charging solutions overview
Market forecasts 63
- Relationship between plug-in electric vehicles and DC charger markets
- 2020-2026 EV DC chargers market in units
- 2020-2026 EV DC chargers market in units – market share evolution
- Rationales behind the EV DC charger market evolution
- 2020-2026 EV DC chargers market value in $ million
- 2020 and 2026 EV DC chargers market – split by geographical region
Market trends 81
Impact of market trends on semiconductor business 92
- From EV DC charger to semiconductor wafer
- Why is power electronics content per charger increasing
- Where is the business opportunity for power electronics?
Supply chain analysis 99
- DC charging infrastructure manufacturers
- EV DC charging infrastructure supply chain structure
- Where is the highest differentiation in EV DC infrastructure?
- Mergers, acquisitions and IPOs
- Why to invest into charging infrastructure?
Technology trends 122
- Main technology trends in EV DC chargers – overview
- AC charging vs. DC charging
- Fast charging bottleneck – availability of highpower lines
- EV users’ needs evolution and trends towards high-power chargers > Why are very high-power chargers being installed now?
- EV DC charging power: two opposite trends observed
- Discrete components vs. power modules in chargers
- Growing potential for power modules in charger modules
Alternatives to conventional EV charging solutions 187
- Alternatives to cables in charging
- Alternatives to conventional EV charging
Wireless charging 190
- Wireless charging systems
- What type of electric vehicle will be the first adopter?
- Wireless charging for small e-mobility
- EV/HEV wireless charging challenges
Battery swap 218
- Battery charging vs. battery swap
- Advantages and challenges for battery swapping
- Battery swap for small-mobility
- Battery swapping for buses, trucks and AGVs
THE EV DC CHARGER MARKET IS POISED TO GROW IMPRESSIVELY, REACHING 440K UNITS BY 2026
According to Yole Développement (Yole), the market for electrified vehicles (EVs) that can be charged from an external charger – plug-in electric vehicles – will reach about 24.5 million vehicles in 2026. To support this impressive growth, electric vehicle charging infrastructure must be rapidly developed in parallel.
In this report, Yole forecasts that the annual Direct Current (DC) charger market will increase from 184,000 units in 2020 to about 440,000 units by 2026.
DC charging solutions offer a substantial advantage over commonly used alternating current (AC) charging solutions, in terms of fast charging capability. DC chargers charge the battery directly, by bypassing onboard chargers in electric vehicle, most commonly rated at 7 or 11 kW. The battery can therefore be charged using much higher power and thus the charging time can be dramatically reduced.
DC chargers with nominal power lower or equal to 50 kW will remain the mainstream in the coming years. The highest market growth will be observed for DC chargers with power between 100 and 200 kW, the power range wellsuited for a large portfolio of electric vehicles. A big push is expected for DC chargers with power higher than 200 kW, which will reach 14% market share by 2026. The 200 kW charger segment includes the latest generation of Tesla Superchargers with nominal power of 250 kW and the 350 kW chargers manufactured and deployed by a growing number of companies.
The total market value of power electronic devices for DC chargers will grow from $108.2M in 2020 to $347.7M by 2026. This market value increase is driven by several factors including charger power and voltage increase, increase of market share of power modules and a growing adoption of SiC MOSFET devices.
TREND TOWARD MORE POWERFUL AND MORE EFFICIENT POWER ELECTRONIC DEVICES
While low-power DC chargers, up to 20-30 kW, are commonly based on a monolithic design approach, the modular design is dominant in high-power chargers. In the modular approach, a charger is built of several charger modules connected in parallel. The modular approach has advantages of high design flexibility, scalability, and availability.
As discrete devices are suitable for both lowpower monolithic chargers and high-power chargers based on low-power charger modules, discrete devices dominate the DC EV market. However, with increasing charger power, the number of related low-power charger modules is increasing beyond optimal levels. For example, for a 350 kW charger about 12 30 kW charger modules will be needed. Charger module manufacturers are looking to improve their products’ power density, efficiency, and to increase their nominal power to 50 kW and beyond to make them more suitable for highpower chargers.
DC charger technology rapidly evolves, and many technology trends were identified and analyzed in this report. Two opposite trends exist regarding charger power. One is a power increase up to 350 kW and beyond in the future to accelerate charging and enable charging in heavy-mobility applications. The other is a power decrease from a historical base level of 50 kW as an alternative to AC charging solutions. Charger voltage follows the trends in EV battery packs. As battery voltage increases from 400 V to 800 V levels, driven by Porsche, Hyundai and other car makers, the charger voltage increases from 500 V to 1,000 V. This results in the chargers using power components rated at 1,200 V.
Other trends include increasing use of SiC MOSFET devices, growing market share of power modules, bidirectional chargers for Vehicle-to-Grid (V2G) and Vehicle-to-Home (V2H) applications, and battery energy storage to reduce peak loads on the electricity grid.
THE EV DC CHARGING INFRASTRUCTURE SUPPLY CHAIN IS FAR FROM BEING CONSOLIDATED
Regulations and technologies for EVs, EV batteries and chargers evolve rapidly. This brings new opportunities or threats to the charging infrastructure companies such as ABB, Tritium and Tesla, but also to the companies involved in semiconductor and packaging materials, device packaging, industrial systems, EV and hybrid EV (EV/HEV) and battery manufacturers, and utility companies. Technology or business model differentiation is difficult to identify currently. Yole Développement therefore expects the reshaping of the supply chain and business models to continue in the coming years. Partnerships are crucial to ensure the compatibility between vehicle and charger, and can provide some level of product differentiation. One example is the network of 350 kW chargers operated by IONITY, backed by several leading car makers, including Volkswagen, BMW and Hyundai. Both car makers and utility companies have identified the opportunities in providing services to a large and rapidly growing portfolio of Plug-in HEV (PHEV) and Battery EV (BEV) customers. An increase of merger and acquisition activities is expected with charging infrastructure providers as main targets. As analyzed in this report, high-power chargers, fastcharging batteries and efficient vehicle powertrains represent a threat to the companies involved in hydrogen infrastructure and fuel-cell vehicles such as Toyota and Honda, and might also close the opportunity window for companies involved in battery swap solutions like NIO and Aulton.
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