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An article to understand the development trend of the charging pile industry: high-voltage fast ev charging station has become a new trend in the evolution of complementary energy technology

An article to understand the development trend of the charging pile industry: high-voltage fast ev charging station has become a new trend in the evolution of complementary energy technology

Time: December 21st at 3:34pm

1. EV Charging Pile Industry Overview

1.1 Concept & Classification

The function of charging piles is similar to the gas pumps inside gas stations, which can be fixed on the ground or walls and installed in public buildings (public buildings, shopping malls, public parking lots, etc.), residential community parking lots or special charging stations, and can charge various models of electric vehicles according to different voltage levels. According to different classification standards, there are different ways of classifying charging piles, and the common ones are as follows.

Ev Charging pile classification diagram

1.2 History of Development

"Charging pile + new energy vehicle" is analogous to "traditional fuel car + gas station", the construction progress of charging pile should be developed in collaboration with new energy vehicles, otherwise it will cause imbalance of vehicle-pile ratio. Charging pile belongs to the infrastructure construction, with the next 10 years, the new energy vehicle industry into a high-speed development phase, charging pile demand will also enter the intensive construction period with the increase of new energy vehicle ownership. The development of the charging pile industry can be divided into four stages.

History of the charging pile industry diagram

History of the ev charging pile industry

2.  Charging Pile Industry Industry Chain Analysis

2.1 Industry chain diagram

Upstream of the charging pile industry is the charging gun parts suppliers, mainly charging gun head, controller, converter, power cord, high-power plug, etc.. Among them, the charging gun head is responsible for connecting the battery interface at the car end, which can transmit different intensity charging current according to the power condition and charging demand, and there are three kinds of interface models: national standard, American standard and British standard; the controller is responsible for adjusting the charging mode and displaying the charging status; the converter is responsible for reducing the current intensity, so that the high power charging gun can be used in the low power supply. The midstream is the charging gun manufacturer, at present, the Chinese representative manufacturers are Yonggui Electric, AVIC Photoelectric, Shenglan, Kangni Electromechanical, Lixun Precision, Sino fasthorse energy technology, and the foreign manufacturers are mainly Baseba, Volvo, etc. Downstream is the charging gun customers, mainly include charging pile operators, vehicle manufacturers and new energy vehicle customers. Among them, the charging guns of charging pile operators are mainly used in the public and private charging piles, the charging guns of vehicle manufacturers are mainly used in the supporting private piles and supporting portable charging guns, and the charging guns of new energy vehicle users are mainly portable charging guns and private charging pile charging gun replacement.

Charging Pile Industry Chain Overview

Charging Pile Industry Chain Overview

2.2 Cost structure

From the cost side, the cost of charging equipment, i.e. charging pile hardware equipment, is the main cost of charging piles, accounting for more than 90%, while manufacturing costs and labor costs account for a relatively small percentage, both less than 5%.

Cost Composition of Charging Piles in China

Cost Composition of Charging Piles in China

2.3.  Global Charging station Industry Status

In the background of high boom of electric vehicles, the market demand for supporting charging piles has increased significantly; superimposed on the active promotion of subsidy policies for charging pile construction in various countries, the charging pile industry has expanded rapidly. According to IEA data, the global charging pile holdings grew rapidly from 856,900 in 2014 to 15,733,900 in 2022, with an average annual compound growth rate of 51.55%.

Global Charging Pile Ownership and Growth Rate, 2014-2022

Global Charging Pile Ownership and Growth Rate, 2014-2022

3.  The current development of China's charging pile

3.1 New Energy Vehicle Ownership

Charging pile is a device to replenish electric energy to new energy vehicles (including pure electric and plug-in hybrid), charging various types of new energy vehicles according to different voltage levels. China's new energy vehicle ownership is continuing to climb. As of 2022-December, the national new energy vehicle ownership is 17.49 million, up 100.1% year-on-year, and the market penetration rate has reached about 25%

3.2 Comparison of new energy vehicle charging pile

This is one of the key indicators to measure the degree of charging pile construction,2017-2022 China's new energy vehicles and charging pile ratio in 3:1 up and down, and the overall slow downward trend, but there is still a large gap.

2015-2022 China's new energy vehicle/ev charging pile ratio trend chart

2015-2022 China's new energy vehicle/ev charging pile ratio trend chart

3.3 Charging Pile Ownership

The fast-growing new energy vehicle market has increased the demand for charging piles, and the market demand for charging piles will further expand in the future as the level of vehicle electrification penetration continues to rise. According to China Charging Alliance, by the end of 2021, the number of charging piles nationwide reached 2.617 million units, up 55.68% year-on-year. 2015-2022, the number of charging piles nationwide increased from 66,000 units to 2.617 million units, with a 7-year compound growth rate of 84.66%.

At present, China's charging pile ownership is dominated by public charging piles. 2022 China's charging pile ownership is 2.617 million units, of which 470,000 units are public DC charging piles, 677,000 units are public AC charging piles and 1.47 million units are private piles.

Structure of China's charging pile ownership in 2018-2022

Structure of China's charging pile ownership in 2018-2022

3.4 Market Scale

In recent years, China's charging pile market size has maintained rapid growth, and the market size of China's charging pile in 2022 is about 78.51 billion yuan, up 55.68% year-on-year. China's charging pile market size is expected to reach nearly 250 billion yuan in 2025, with a CAGR of over 33% during 2021-2025.

China Charging Pile Market Size and Growth Trends 2018-2025


3.5  Charging capacity

Charging volume continues to grow rapidly and charging demand accelerates. According to charging alliance data, the total charging volume in China reached 11.15 billion kWh in 2022, an increase of 58% year-on-year. In terms of charging volume distribution regions, Guangdong, Jiangsu and Sichuan lead the country. In terms of terminal flow, the power flow is dominated by buses and passenger cars.

4. Charging Pile Industry Development Environment

4.1 Policies

In 2022, provinces and municipalities introduced policies to promote the construction of new energy charging piles, the future car-pile ratio will be as low as 2:1. According to China Charging Alliance data, as of 2022, China's new energy vehicle ownership of 7.84 million, the total number of charging piles is 2.61 million, car-pile ratio of about 3:1, the policy will drive the car-pile ratio to further decline. The future in the charging gun or super-charging gun is expected to expand the market scale.

4.2 Technology

At the early stage of industry development, China's charging technology is mainly conduction charging technology. In 2019, the charging technology and standard system of electric vehicles have been supplemented and improved, and the high-power charging technology, wireless charging, low-power DC charging technology and power exchange mode are powerful supplements to the charging market. The charging experience of users has been enhanced, and China's charging technology is developing in the direction of "convenient, efficient, safe and intelligent".

Development of charging pile technology

Development of charging pile technology

5. Charging Pile Market Competition Pattern

5.1 Profit Model

According to the business entity, the mainstream profit model of charging pile includes three modes: charging operator-led, vehicle-led and third-party charging service platform-led. As for the profit sources, there are mainly: financial subsidies, electricity tariff difference, advertising, parking space operation, repair and maintenance, supporting entertainment, etc.

5.2 Major operators

The market for charging operating companies is relatively concentrated. By the end of 2022, there were 13 charging operating companies operating more than 10,000 charging piles nationwide, with Star Charging, Special Call and National Grid operating 257,000, 252,000 and 196,000 respectively, ranking among the top three.

6. Charging pile industry development trends

High-voltage fast charging has become a new trend in the evolution of energy replenishment technology, which is expected to bring new opportunities for the development of the charging pile industry. With the improvement of the vehicle charge capacity and range, the convenience of charging has become a major factor that restricts the improvement of electric vehicle experience. "Slow charging" is still the core pain point of the pure electric passenger car industry. From a practical point of view, high-voltage fast charging can take into account the advantages of reducing energy consumption, improving range, reducing weight, saving space, etc. It can achieve maximum power charging in a wider range and better match the future demand for fast charging.

At present, electric vehicles choose different voltage levels according to the amount of charge, the voltage range of passenger cars is about 250-450V; buses, buses, etc. due to the high amount of charge, the basic voltage is 450-700V. in the future, with the range, charging speed requirements, electric vehicle voltage is expected to rise to 800V-1000V. currently based on the 800V high-voltage technology platform The models have entered mass production and the deployment of super charging piles is also in order. In addition to cooperating with operators to deploy charging networks, OEMs are also actively building their own charging networks. Regardless of self-built or cooperative operation, high voltage is an important development trend.

Sino Fasthorse energy technology provides an in-depth analysis of the current state of development of the charging pile industry, the industry's upstream and downstream industry chains, the competitive landscape and key enterprises, minimizing investment risks and operating costs and improving the competitiveness of enterprises; and uses a variety of data analysis techniques to forecast industry development trends so that enterprises can seize market opportunities in a timely manner.

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