Global Organization
[XIE SHANGGUO/FOR CHINA DAILY] Global interest in homegrown charging piles for new energy vehicles has ballooned as China cements its leading position in the global NEV market with exports set to almost double this year, experts and industry executives said.
By 2025, the overall charging pile market in Europe and the US will reach a combined total of about 73.12 billion yuan ($10.1 billion), with more than three-quarters of the market share coming from private charging piles, according to an estimate by Guosen Securities.
Employees work on a production line for charging piles in Huzhou, Zhejiang province, in June. [XIE SHANGGUO/FOR CHINA DAILY]
The deployment of fast charging compensates for the lack of access to home chargers in densely populated cities and supports China’s goals for rapid EV deployment. China accounts for total of 760 000 fast chargers, but more than 70% of the total public fast charging pile stock is situated in just ten provinces.
China accounts for total of 760 000 fast chargers, but more than 70% of the total public fast charging pile stock is situated in just ten provinces. In Europe the overall fast charger stock numbered over 70 000 by the end of 2022, an increase of around 55% compared to 2021.
Like slow chargers, public fast chargers also provide charging solutions to consumers who do not have reliable access to private charging, thereby encouraging EV adoption across wider swaths of the population. The number of fast chargers increased by 330 000 globally in 2022, though again the majority (almost 90%) of the growth came from China.
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