According to a research report "Hypercharger Market by Port Type (CCS, MCS, ChaoJi, NACS), Hypercharging Compatible Vehicle Sales by Vehicle Type (Passenger Cars, Light Commercial Vehicle and Heavy Commercial Vehicle), and Region - Global Forecast to 2030" published by MarketsandMarkets, the Hypercharger market size is projected to grow from 10.4 Thousand Units in 2023 and projected to reach 273.7 Thousand Units by 2030, at a CAGR of 59.5%. The Hypercharger demand is primarily driven by the growing popularity and adoption of electric vehicles (EVs). As more consumers and businesses transition to electric mobility, there is a heightened need for charging solutions that offer ultra-fast charging speeds. Hypercharger addresses the time constraints associated with traditional charging methods, providing EV users with the convenience of quickly replenishing their vehicle's battery charge.
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Passenger Car segment is expected to have high growth rate in the sales of vehicle compatible with Hypercharging
The passenger car segment is anticipated to experience a high growth rate in the Hypercharger market, driven by the introduction of new electric vehicle models such as the Hummer EV, Hyundai Ioniq 5, KIA EV6, and several others. These launches contribute to overcoming range anxiety, a significant concern for potential electric vehicle buyers. The incorporation of Hypercharger capabilities in these models ensures faster and more convenient charging, alleviating concerns about long charging times and enhancing the overall appeal and feasibility of electric cars, thereby fueling growth in the sales for passenger vehicles compatible with hypercharging.
MCS” segment is expected to have significant growth opportunities in global Hypercharger market
The Megawatt segment is poised for substantial growth in the global Hypercharger market due to its pivotal role in addressing the specific needs of Heavy Commercial Vehicles (HCVs). As electric HCVs gain traction, the demand for rapid and high-capacity charging solutions becomes imperative. Megawatt charging systems are designed to cater to these heavy-duty vehicles, offering ultra-fast charging speeds that significantly reduce downtime. The surge in electric HCV adoption, coupled with the efficiency of Megawatt charging for quick and powerful recharging, creates significant growth opportunities in this segment within the broader Hypercharger
“South Korea to have significant market share in the Hypercharger market in Asia Pacific”.
South Korea is poised to secure a significant market share in the Asia Pacific Hypercharger market, driven by the surge in Battery Electric Vehicle (BEV) sales within the country. The increasing adoption of electric vehicles, particularly from local brands like Hyundai and KIA, contributes to this growth. These automakers offer Ultrafast charging-compatible vehicles, addressing the rising demand for efficient and high-speed charging solutions. As South Korea continues to prioritize sustainable transportation, its growing BEV market and the presence of local brands with Hypercharger-compatible offerings position it as a key player in the regional Hypercharger landscape.
The Hypercharger market comprises major players such as ABB (Switzerland), Electrify America (US), Heliox (Netherlands), Tritium (Australia) and IONITY (Germany), etc.
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