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Global Combined Charging System Market Report 2024 Market Size Split by Component (Software, Hardware), Power (40Kwh to100Kwh, 100Kwh to 200Kwh, More than 200Kwh), Component (Hardware, Software)
According to Cognitive Market Research, The Global Combined Charging System market will be USD 11.9 billion in 2023 and will grow at a compound yearly growth rate (CAGR) of 32.50% from 2023 to 2030.
- The demand for stringent government rules and regulations due to the increasing operational efficiency and saving higher costs is driving market growth.
- The combined charging system market’s demand for electric vehicles increases the adoption of combined charging systems among consumers.
- The hardware components and 40 to 100 kWh category held the highest combined charging system market revenue share in 2023.
- Europe will continue to lead, whereas the North America combined charging system market will experience the strongest growth until 2030
| Base Year | 2023 |
| Historical Data Time Period | 2019-2023 |
| Forecast Period | 2024-2031 |
| Global Combined Charging System Market Sales Revenue 2023 | $ 11.9 Billion |
| Global Combined Charging System Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 32.5% |
Combined Charging System Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Combined Charging System Market Report Description
Introduction ofCombined Charging System
A combined charging system, or CCS, is a charging system for electric vehicles that integrates AC charging solutions with ultra-fast DC charging in a single system. The combined charging system includes a connector, inlet combination, and control functions. Rising demand for electric vehicles increases the adoption of combined charging systems among consumers, which is expected to propel the market during the forecast period.
These developments empower businesses to offer better-tailored solutions and services, which, in turn, contribute to the growth of the combined charging system industry.
- For instance, in February 2021, the United States government announced rules for electric charging stations as part of a USD 7.5 billion federal government program to boost the adoption of EVs in the region. One of the new regulations states that companies hoping to benefit from federal funding must adopt the CCS standard in their EV models.
(Source:www.bls.gov/opub/btn/volume-12/charging-into-the-future-the-transition-to-electric-vehicles.htm)
Growing Need for Electric Vehicles to Drive Market Expansion
Rapid electrification of cars has occurred in recent years. Increasing electrification of vehicles and growing demand for EVs are expected to drive the demand for combined charging systems (CCS) soon. Rising disposable income and living standards are expected to increase the demand for electric vehicles, boosting the market. Moreover, advanced technology of combined charging systems helps charge electric vehicles in less than thirty minutes, driving the demand for CCS.
- Through 2023-2024, CCS1 will remain the predominant standard for non-Tesla EVs and EV charging networks in North America (U.S. and Canada). CCS1 is also available in Central America, Korea, and Taiwan.
Governments and automakers worldwide are increasingly incentivizing and promoting EV adoption through subsidies, tax benefits, and stringent emission regulations. Consumers are also attracted to the expanding range of EV models, improved charging infrastructure, and cost savings on fuel and maintenance. The convergence of factors propels the CCS market forward, facilitating faster and more convenient charging for EV users.
Market Dynamics ofCombined Charging System
Lack of Infrastructure to Limit Market Expansion
EV charging for electric vehicles decreases the adoption of CCS. Although several countries are establishing EV charging infrastructure, certain countries cannot install the required EV charging stations. The lack of electric vehicle charging system infrastructure impedes the combined charging systems market. For instance, China is one of the biggest markets for electric vehicles; however, the country is struggling to provide adequate electric vehicle charging system infrastructure to recharge electric fleets, which can impede the global market.
Impact of COVID–19 on the Combined Charging System Market
The combined charging system (CCS) market experienced significant disruption due to the COVID-19 pandemic. Lockdowns, supply chain interruptions, and reduced consumer spending hampered CCS infrastructure development and electric vehicle (EV) adoption in 2020. However, the market rebounded as the world adapted to the new normal. Governments incentivized EV adoption to stimulate economic recovery and meet environmental goals, increasing CCS installations. Additionally, the pandemic underscored the importance of sustainable transportation, driving demand for EVs and CCS technology. The market is now poised for growth, with continued investments and innovation in CCS infrastructure to support the expanding EV market.
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Combined Charging System Market Insights Video
Competitive Landscape ofCombined Charging System
The Combined Charging System (CCS) market competes intensely with key electric vehicle (EV) charging industry players. Prominent companies like EVgo, ChargePoint, and Tesla have developed robust CCS solutions, offering fast charging capabilities and interoperability with various EV models. Additionally, automakers like Volkswagen and BMW are actively promoting CCS adoption. Governments worldwide also support CCS infrastructure development, fostering competition among charging infrastructure providers.
- In April 2023, Leviton announced the release of major enhancements to the My Leviton application for smart EV charging stations. Some enhancements include remote start and stop of the charging, scheduling of charging sessions, and the option to turn access control on/off.
- In June 2022, Blink Charging announced the acquisition of SemaConnect, which provides extensive EV charging infrastructure solutions in the North American region. At the time, the acquisition made Blink Charging the only company offering complete vertical integration, from R&D and manufacturing to electric vehicle charger operations and ownership.
- In June 2023, Webasto Charging Systems announced the imminent launch of the NACS connector option for its charging solution portfolio. Theannouncement is expected to help the company address the rapidly evolving requirements of the EV market in North America.
(Source:insideevs.com/news/678194/webasto-nacs-charging-connector-option/)
Top Companies Market Share in Combined Charging System Industry: (In no particular order of Rank)
- PHOENIX CONTACT
- Exicom
- AMP
- Vector Informatik GmbH
- IOTECHA INC
- CharIN e. V
- EV Safe Charge Inc
- SEVENSTAX GmbH
- Lubi EV Solutions
- YoCharge
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Combined Charging System Market Analysis
Global Combined Charging System Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Combined Charging System Industry growth. Combined Charging System market has been segmented with the help of its Component, Power Component, and others. Combined Charging System market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Component Segment Analysis
In the CCS market, hardware components facilitate electric vehicle (EV) charging. This segment includes essential elements such as charging connectors, cables, control units, and charging stations. These components are responsible for physically connecting the EV to the charging infrastructure. The increasing need of electric vehicles drives the hardware segment's growth, the expansion of charging networks, and the demand for faster and more efficient charging solutions. Advancements in hardware technology, including high-power charging stations and universal connectors, are key factors shaping this segment's growth.
The software segment in the CCS market encompasses the intelligent systems and applications that control and manage the charging process. It includes charging station management software, user apps, and billing and payment platforms. Software solutions are critical for providing user-friendly and efficient charging experiences, ensuring compatibility with various EV models, and enabling remote monitoring and control of charging infrastructure. The need for seamlessinteroperability, data analytics, and the development of smart grid integration features drives the growth of the software segment.
- Software
- Hardware
Combined Charging System Market Share (%) by Component in 2019-2031
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Combined Charging System Industry. Request a Free Sample PDF!
Power Segment Analysis
The 40 to 100 kWh segment caters to entry-level electric vehicles and plug-in hybrids. It typically includes residential charging solutions and some public charging stations. The market in this category is driven by increasing EV adoption among everyday consumers and is marked by convenience and affordability. Key players here focus on user-friendly interfaces and compact designs to cater to residential and small commercial settings.
100 to 200 kWh segment represents a middle ground suitable for a wide range of EVs, including larger sedans and smaller SUVs. Charging stations in this category are often found in commercial settings, including retail parking lots and along highways. Market players are investing in faster-charging technologies to cater to the needs of drivers who require quicker top-ups during their journeys.
- 40Kwh to100Kwh
- 100Kwh to 200Kwh
- More than 200Kwh
Combined Charging System Market Share (%) by Power in 2019-2031
2019
2023
2031
The above Graph is for representation purposes only. This chart does not depict actual Market share. Please purchase the Combined Charging System market report 2024 Edition by contacting our team.
Combined Charging System Component Segment Analysis
- Hardware
- Software
In terms of revenue, Europe Combined Charging System Market share was 51.2% of total market
According to Cognitive Market Research, Europe dominated the market in 2023 and accounted for a share of more than 51.2% of the global revenue due to several variables. Europe is projected to be the big regionduring the forecast period due to the presence of key manufacturers such as PHOENIX CONTACT, Vector Informatik GmbH, and SEVENSTAX GmbH. In 2018, the popularity of electric vehicles among consumers rose by more than 2% in seven countries, including Sweden, Iceland, and Norway. Additionally, interoperability among different charging networks was improving, contributing to a seamless charging experience for EV owners. However, for the most recent and detailed analysis, I recommend consulting up-to-date market reports and industry publications.
North America is projected to grow rapidly in the coming years, owing to the rising adoption of combined charging systems among EV users. It is one of the fastest-growing regions in EV sales owing to supporting government policies and increasing availability of EV-supporting infrastructure. North America, led by the United States and Canada, has been a fast-growingregion for CCS adoption. The growing demand for electric vehicles,government incentives, and increased investment in charging infrastructure have contributed to this growth.
The current report Scope analyzes Combined Charging System Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
- North America (United States, Canada, Mexico)
- Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
- Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
- South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
- Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)
Combined Charging System Market Share (%) by Region (2019-2031)
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