The global electric vehicle fast charging system market is expected to reach $10.82 billion by 2031 with a CAGR of 16.56% during the forecast period 2022-2031.

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According to the “International Energy Agency”, there are about 10 million electric vehicles on the roads around the world. The governing bodies of various countries are implementing funds and investments to support the development of electric vehicle charging infrastructure in their countries.

New York, March 31, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Electric Vehicle Fast Charging Systems Market: A Global and Regional Analysis: Focus on DC Fast Charging Applications, Type of Vehicle, Connector Type, and DC Charging System Power Output – Analysis and Forecast, 2021-2031” – https://www.reportlinker.com/p06249903/?utm_source=GNW

Countries such as China, the US and the UK are investing substantially in charging infrastructure development. An increase in demand for electric vehicles around the world is also substantially driving the market for electric vehicle fast charging systems.

Market segmentation

Electric Vehicle Fast Charging System Market By Application

Public electric vehicle fast-charging systems are open to the public and are operated for commercial purposes. Numerous charger manufacturers, as well as the governments of major countries, are actively participating in the domain of public charging.

Due to this public segment, it is expected to have a prominent market share in the market.

Market for fast charging systems for electric vehicles by charging power

> 100KW DC fast chargers are succeeding in the electric vehicle fast charging infrastructure market. Several companies start their DC fast chargers, ranging from a 50KW DC charger. Due to the lower cost and ease of mains availability for this range, this segment is expected to dominate the market.

Electric vehicle fast charging system market by connector type

GB/T is the Chinese standard for charging electric vehicle batteries. As China dominates the market for electric vehicle fast charging systems, the GB/T segment has a substantial market share.

Electric vehicle fast charging system market by vehicle type

The fleet of passenger electric vehicles is high compared to electric light and heavy commercial vehicles. Going forward, the passenger car segment is expected to dominate the market.

Rising sales of battery electric passenger vehicles are anticipated to drive the market exponentially.

Electric vehicle fast charging system market by region

The automotive market in China is one of the largest in terms of volume in 2021 and is expected to increase exponentially. China has about four-fifths of the market share in terms of fast charging system units sold in 2021.

Furthermore, this number is expected to increase at a high growth rate during the forecast period.

Overview of key market players and competition

Some key players operating in the market are ABB, Blink Charging Co., BP Chargemaster Ltd, Broadband TelCom Power, Inc., ChargePoint Inc., Delta Electronics, Inc., Efacec Electric Mobility, EVBox, FLO, GARO Group, Proterra Inc. ., Signet EV Inc., Tesla, Inc., Tritium Pty Ltd, ShenZhen SETEC Power Co., Ltd., Star Charge, and Xi’an TGOOD Intelligent Charging Technology Co., Ltd.

The companies profiled in the report have been selected after in-depth interviews with experts and understanding of company details such as their product portfolios, annual revenue, market penetration, research and development initiatives, and national and international presence. in the fast charging sector for electric vehicles. system market.

Countries covered
• North America
• US
• Canada
• South America
• Brazil
• Rest of South America
• Europe
• UNITED KINGDOM
• Italy
• Germany
• France
• Spain
• The rest of Europe
• Middle East and Africa
• China
• Asia-Pacific and Japan
• Japan
• South Korea
• Rest of Asia-Pacific and Japan
Read the full report: https://www.reportlinker.com/p06249903/?utm_source=GNW

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