The “DC Charges Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The DC Charges Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The Global DC Chargers Market was valued at US $66.08 billion in the year 2020, and the market is estimated to grow at a CAGR of ~12% during the forecast period 2021 to 2027.
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The DC charger outputs DC power. Batteries used for electronic devices, automotive applications, and industrial applications utilize DC power and are run by DC power. DC output signals are generated by converting input signals to DC output signals. The most common type of charger for electronic devices is the DC charger. DC circuits have unidirectional current flow in contrast to AC circuits. AC power cannot be transmitted over long distances, so DC power is used instead.
With the rapid growth in the demand of portable electronic devices, DC chargers have become more popular to charge cellular phones, laptops, tablets, and other wearable devices. Since portable devices are in high demand, the revenue generated by the market for DC chargers will continue to grow rapidly. The DC charger works for smartphones, laptops, tablets, electric vehicles, and industrial equipment.
In the automotive industry, DC chargers for electric vehicles are the latest innovation. Electric vehicles receive DC power directly from them. Using a DC charger for electric vehicles, one can travel more than 350 kilometers on one charge. In contrast to having to plug in overnight, for several hours to get a full charge, fast DC charging has made it possible for drivers and their vehicles to recharge during travel time or on their break.
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Factors Impacting the DC Chargers Market
A rise in the number of portable electronic devices and electric vehicles combined with the growth in DC charger sales is driving the global market size of DC chargers.
Global electric vehicle adoption is driven by fast DC chargers that can charge electric vehicles in a short period.
The government’s subsidy program for the use of electric vehicles has contributed positively to the market’s growth.
Impact of Covid-19 on the DC Chargers Market
COVID-19 has been spreading quickly globally for the past two years and has become one of the biggest threats to the global economy, causing widespread concerns and hardship for consumers, businesses, and communities worldwide. In the present social climate, distancing from others and working from home have created challenges, causing delays in activities, regular work, supplies, and initiatives.
Globally, COVID-19 is affecting society and the economy. A growing number of people are being affected by this outbreak, as well as the supply chain. Due to the shutdown of manufacturing plants in Europe under lockdown, countries have suffered significant losses in revenue and business. In the year 2020, DC chargers are expected to hinder the production and manufacturing processes.
Due to the COVID-19 pandemic, DC chargers market trends have shown that manufacturing facilities have been halted, which has, in turn, led to significant demand in industries. As a result of COVID-19, the DC charger market revenue was a decline in 2020. However, the global market growth is forecast to be significant over the forecast period.
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Regional Outlook
During the period 2021-2027, the DC Chargers Market in Asia-Pacific would exhibit the highest CAGR of 13.8%. While, the report scope include study of other regions such as North America, Europe and Middle East & Africa.
Aim of the Report
The DC Chargers Market can be divided power output, end-use, and region.
Segmentation based on Power Output
More than 100 Kw
10 kW to 100 Kw
Less than 10 Kw
Segmentation based on End-Use
Automotive
Industrial
Consumer electronics
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Segmentation based on Region
LAMEA
Asia-Pacific
Europe
North America
Key Competitors in the DC Chargers Market
ABB Ltd.
AEG Power Solutions
Siemens AG
Statron Ltd.
Bori S.p.A.
Delta Electronics, Inc.
Hitachi Hi-Rel Power Electronics Private Ltd.
Kirloskar Electric Company Ltd.
Phihong Technology Co., Ltd.
Helios Power Solutions Group
Key questions answered in the DC Charges market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the DC Charges market over the forecast period?
- What are the factors driving and restraining the market for DC Charges?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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