EV penetration to rise to 30% in 2025, says DIGITIMES Research

Ninelu Tu, Taipei; Yusin Hu, DIGITIMES Asia 0


As electric vehicle (EV) penetration rate is expected to exceed 30% in 2025, demand for EV infrastructures is growing rapidly, according to DIGITIMES Research. China, the US and the EU have all picked up pace in building charging stations and other green energy installations.

Total car sales increased globally by 3.8% in 2021 to 71 million units, while global sales of electric vehicle (EV) more than doubled in the same year, according to DIGITIMES Research. For the medium and long term, EV sales are estimated to reach 29.64 million units in 2025 with penetration rate exceeding 30%.

China has the most EVs and public chargers with the highest charger-to-EV. While six EVs need to share one charger in China, the EV-to-charger ratio remains at 11:1 in Europe and 16:1 in the US.

Sources at suppliers said nearly 80% of the EV chargers in the global market are CCS1, CCS2, and GB/T, with orders of the CCS (combined charging system) types rising rather steadily. CCS is the mainstream in Europe and the US, while GB/T is the national standard in China.

Charger manufacturers are now working on installing more chargers and reducing the time needed for charging. Sources said charging EV with DC fast chargers could take as little time as adding gas for an ICE-powered vehicle, and demand for rapid chargers is on the rise.

But the sources added that rapid charging solutions involve high power, which therefore sets specific requirements for the power grid and safety standards. So fast chargers are not deployed as fast as regular chargers.

Taiwan-based Delta Electronics, K.S. Terminals, Sinbon, Acbel Polytech, Hotron Precision, BizLink Holding, Phihong Tech, and CCP Contact Probes have been supplying charging connectors and other components.