According to the TechSci Research report titled “China Electric Vehicle Charging Infrastructure Market By Region, Competition Forecast & Opportunities, 2027,” the China Electric Vehicle charging infrastructure market is expected to experience consistent growth from 2023 to 2027. The market’s expansion is driven by the significant production and sales of electric vehicles in the country, as well as the strict emission regulations imposed by regulatory authorities.
Segmentation of the China Electric Vehicle Charging Infrastructure Market
The China Electric Vehicle charging infrastructure market is categorized into several segments, including vehicle type, type of charging, charging mode, installed location, connector type, regional distribution, and competitive landscape. These segments provide valuable insights into the market dynamics and help identify growth opportunities.
Dominance of Passenger Cars in the Vehicle Type Segment
In terms of vehicle type, the market is divided into two-wheelers, passenger cars, and commercial vehicles. The passenger car segment is projected to hold the largest market share over the next five years. This growth is attributed to increasing consumer disposable income and the availability of passenger cars in a variety of ranges and specifications. The convenience and comfort offered by private vehicles are also contributing factors to their high demand among consumers.
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DC Charging Stations Lead the Type Segment
The market is further divided into AC and DC charging types. The DC charging segment is expected to account for a significant market share during the forecast period. The government’s efforts to reduce the costs of DC charging stations across the country have led to increased installations of fast-charging stations. This initiative supports the National Electric Mobility Mission Plan and is expected to create lucrative growth opportunities for the China Electric Vehicle charging infrastructure market.
Wireless Charging Mode on the Rise
The charging mode segment is categorized into plug-in and wireless charging. Wireless charging mode is anticipated to witness the fastest incremental growth due to its convenience and flexibility. Electric vehicle owners prefer wireless chargers as they can be carried anywhere, allowing vehicles to be charged at desired locations and times. Furthermore, wireless charging eliminates the need for dedicated electric vehicle charging stations.
Commercial Segment Drives Installed Location Growth
The installed location segment comprises commercial and residential charging stations. The commercial segment is expected to be the fastest-growing segment during the forecast period. The increasing demand for public Electric Vehicle charging infrastructure and the growing popularity of electric buses contribute to the market’s growth in this segment.
CCS Connectors Dominate the Connector Type Segment
The connector type segment includes type 1, type 2, UK 3-Pin, CHAdeMO, CCS, and others. The CCS segment is projected to dominate the market over the next five years. CCS charging sockets combine both AC and DC inlets, requiring minimal space. These connectors utilize power line communication technology to initiate and control charging, similar to power grid communications. The advantages of CCS connectors drive their demand in the forecast period.
Fast Charging Stations Lead the Type of Charging Segment
In terms of the type of charging, the market is divided into slow and fast charging. The fast-charging segment is expected to hold a significant market share during the forecast period due to the widespread installation of fast-charging stations.
In conclusion, the China Electric Vehicle charging infrastructure market is poised for steady growth, driven by the increasing production and sales of electric vehicles and the enforcement of stringent emission norms. The market’s segmentation provides valuable insights into various aspects of the market, such as vehicle types, charging modes, connector types, and more. Understanding these segments is crucial for identifying growth opportunities and making informed decisions in the evolving market landscape.
Major market players operating in the China Electric Vehicle charging infrastructure market are:
- Qingdao Tgood Electric Co. Ltd.
- Tesla Inc.
- State Grid Corporation of China
- BYD Co. Ltd
- Xiaoju Charging (Xpeng Motors)
- Zhongchuang Sanyou
- AnYo Charging
- TELD New Energy Co. Ltd
- Star Charge
- ABB Limited
“China is the leading country in terms of electric vehicle sales and the presence of electric vehicle charging infrastructure on the back of massive government support and early adoption of sustainable solutions within the country. Market players are working on the development of innovative solutions to fasten the charging speed and lower the charging time and are introducing novel electric vehicle devices in the market. The development of smart charging stations and wireless power technology is expected to affect the market positively. Ongoing technological advancements, the development of new fast charging technology, and a new infrastructure package announced in 2020 by the leading Chines authorities are expected to propel the China Electric Vehicle charging infrastructure market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“China Electric Vehicle Charging Infrastructure Market By Vehicle Type (Two- Wheeler, Passenger Car, Commercial Vehicle), By Type (AC, DC), By Charging Mode (Plug-in, Wireless), By Installed Location (Commercial, Residential), By Connector Type (Type 1, Type 2, UK 3-Pin, CHAdeMO, CCS, Others), By Type of Charging (Slow, Fast), By Region, Competition Forecast & Opportunities, 2027”, has evaluated the future growth potential of China Electric Vehicle charging infrastructure market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in China Electric Vehicle charging infrastructure market.
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