Automaker, utility investment is speeding the creation of DC fast charging networks at all power levels
A new report from Navigant Research examines the state of electric vehicle (EV) direct current (DC) fast charging deployment and key market drivers, providing global forecasts for equipment sales, segmented by power level, through 2026.
DC fast charging has gone from a niche segment of the EV charging market to the segment with a significant degree of investment and momentum behind it. Automakers are making multi-year commitments to roll out fast charging stations that will serve the coming generation of long-range battery EVs (BEVs), while also driving the push toward higher power DC fast charging—from a minimum of 100 kW up to 350 kW. Click to tweet: According to a new report from @NavigantRSRCH, global sales of DC fast chargers are expected to grow from 19,000 units to over 70,000 in 2026.
“While automaker and utility investment will speed creation of DC fast charging networks, in the long-term, these stations will have to become self-sustaining,” says Lisa Jerram, principal research analyst with Navigant Research. “This will require maximizing utilization and also creating new revenue opportunities through driver services.”
Several automakers have made the decision to invest in DC fast charging network deployment to support their long-range BEV introductions, according to the report. However, 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 in the next few years, leaving the question of a sustainable business model for DC fast charging to be resolved.
The report, DC Fast Charging Equipment for EVs, 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 reviews the state of DC charging standards and the key players in the market. Global forecasts for 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. An Executive Summary of the report is available for free download on the Navigant Research website.
Contact: Lindsay Funicello-Paul
* The information contained in this press release concerning the report, DC Fast Charging Equipment for EVs, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.