Direct current (DC) fast charging deployment is growing rapidly, spurred by increasing sales of battery EVs (BEVs) and the introduction of long-range BEVs. The technology has quickly shifted from being a niche segment of the overall EV charging market to the technology with significant investment momentum behind it. Moreover, the market is now demanding higher power DC charging equipment—chargers that can provide power at 100 kW at a minimum and potentially much higher. Virtually all DC charging manufacturers are offering, or are poised to offer, DC fast chargers up to 100 kW. Another key driver to growth in this market is automaker investment. Several automakers have made the decision to invest in DC charging network deployment to support their long-range BEV introductions.
All of this is happening in an uncertain environment for EV charging, as the business models for public charging are still unproven. While high power DC charging is considered an important element of making drivers comfortable with purchasing a BEV, these stations are still unlikely to see high utilization—at least in the next few years. The question of a sustainable business model for DC fast charging needs to be resolved. The DC charging market also faces technical hurdles to reaching the power levels desired by some automakers of 320 kW or higher.
This Guidehouse Insights report discusses the significant issues in the DC charging market today and the remaining barriers to the long-term success of DC charging networks. The study discusses the state of DC charging standards and the key players in the market. Global forecasts for global DC charging equipment sales, segmented by power level, extend through 2026. The report also examines the role of automakers and different business models and use cases.