EV Fast-Charging Infrastructure Market Analysis

EV Fast-Charging Infrastructure Industry Insights

Application Analysis

Public charging accounts for the larger share in the market, and it is expected to witness the higher CAGR, of 16%, between 2024 and 2030. This will be owing to the widespread installation of public fast chargers to facilitate EV adoption. Various OEMs and EV network operators are setting up public fast chargers at retail and hospitality facilities, parking lots, government offices, roads, gas and fuel stations, and other areas.

For instance, in the U.S., the Bipartisan Infrastructure Law (BIL) has allocated over USD 7 billion for the development of charging infrastructure for electric vehicles. The objective is to deploy 500,000 public chargers by 2030 that are compatible with all the technologies and vehicles operational around the country.

The following applications are covered:

• Public (Larger and Faster-Growing Category)
• Private

Connector Type Analysis

GB/T is the highest-revenue-generating connector type in the market, accounting for 85% share in 2024. This is because the GB/T DC fast-charging standard supports faster charging with up to 250 kW of power. Moreover, this is the standard connector in China, the largest EV market in the world, for both AC and DC charging.

The SAE CCS category is expected to witness CAGR, of 25%, over this decade. This is because this connector is the best at supporting higher voltages, which reduces charging time. Borth the CCS Type 1 and Type 2 connectors offer a maximum output voltage, current, and power of 1,000 V, 500 A, and 360 kW, respectively. In comparison, the CHAdeMO connector offers a maximum voltage, current, and power of 400 V, 400 V, and 400 kW. Further, CCS Type 2 is the European standard for EV charging connectors, while CCS Type 1 is the standard in North America, the two largest automotive markets in the world outside Asia.

The report offers insights on these connector types:

• Supercharger
• SAE Combo Charging System (Fastest-Growing Category)
• GB/T (Largest Category)
• CHAdeMO

Charging Power Analysis

The <100 kW category is expected to dominate the industry through the forecast period. This is because fast chargers with an up to 100-kW power output are less expensive and can charge an EV in 1–2 hours. They are generally installed at shopping malls, retail shops, and hotels.

Another key factor supporting <100-kW charger demand in the electric vehicle fast-charging infrastructure market is the higher requirement for energy by the higher-kW chargers and the lack of energy, often due to the unreliable grid connectivity, to support such technology. In addition, majorly public charging networks do not require a power output of over 100 kW for customer satisfaction.

The >200 kW category is the fastest-growing over this decade, with a CAGR of 18%. This is attributed to people’s rising need for rapid EV charging infrastructure to reduce the downtime and enable longer journeys. Moreover, the advancements in electrical components are enabling EV chargers to offer ever-rising power outputs. Several charging connectors are already capable of offering power outputs of more than 200 kW, including CCS Type 1 and 2 (360 kW), CHAdeMO (400 kW), and GB-T (237.5 kW), and Tesla North American Charging Standard (NACS), formerly known as the Supercharger (250 kW).

The segment is categorized as follows:

• <100 kW (Largest Category)
• 100–200 kW
• >200 kW (Fastest-Growing Category)