In the past decade, the trend and interest of people in electric vehicles have grown manifold. It constantly motivates the infrastructure developer, SV charger manufacturers, and electric vehicle manufacturers to improve technology.
The rapid climate change and fuel crisis in many parts of the world also play a significant role in rising EV interest. Many governments have introduced impetus for EV owners. Unsurprisingly, it has surged EV sales and demand for charging stations.
Hence, the future of EV charger manufacturers like BESEN seems bright. Let's look at what is ahead for electric vehicles and charger manufacturers in the coming days.
Fast Growing EV charging Market
The coming decade seems to be promising for electric vehicle charging stations. It is expected to see 5 to 7 times growth. Their value was around 5 billion dollars in 2020, but optimistic progress has been seen until 2022. It can increase to approximately 35 billion dollars by 2026, which will increase the chance of representing car sales worldwide.
The goal of EV charger manufacturers is to cut down the cost of manufacturing of final product and deploying it in the market. They are facing a significant obstacle of the hiked price of copper, which is the primary obstacle to overcome. It is a notable challenge that can affect the operators and consumers.
Many parts of the world, including China which is a champion of the market, Europe, and America, are adopting Electric Vehicles. It shows positive news that infrastructure is already present to make deployment easy in other parts of the world.
Expected Turnovers in Future
Glimpse in the future shows a lot of improvement of the current EV chargers. With increasing demand, you can expect to increase the car changing voltage from 500V to 800 V in the coming year. BESEN EV charger manufacturer is working to improve the charger's power to decrease charging time. Let's take a look at how the future will have an impact on electric vehicles and their manufacturers.
1. Different Chargers require different charging strategies
AC and DC currently share a long history of rivalry. Even some inventors prefer direct current for their vehicles, while some likes alternative current for the cars.
During the war of currents, Tesla believed alternative currents were better for the future. Surprisingly, the alternative current became dominant in the electric power industry. However, the issue is not quite clear regarding EV chargers. For alternative reasons, the electric vehicle charger manufacturers use both AC and DC. Hence, they need to develop different strategies.
A： AC electric car charging
AC electric chargers are steady charges available to current EV owners. For example, level 1 and level2 chargers are AC chargers. They are typically used for top-up charging. These EV chargers are ideal for home, work, and other destinations since vehicles demand more loading time. AC chargers are suitable because they are generally small and can either be installed on the car or on the wall in the garage.
AC chargers will soon be commodities as they are the most demanding solution. EV charger manufacturers should strive to safeguard their solutions by evaluating their supply chain management system. According to expected demand, they should focus on their differentiation, consider investment in predictable analysis and find alternative supplies and sources for rare or difficult to obtain components.
B： DC electric car charging
The output power of grid stations is always AC. Some batteries are designed to store DC. So, the manufacturers install a converter. It is also present in smartphones to convert AC into DC. You must be wondering if AC is easy to use, then why DC has a future. Right? It is because the direct current is a fast charger. That is why Level 3 charging stations typically used for rapid routes are charging, such as highways and gas stations.
In the competition of AC and DC, direct current electric vehicle charging space is still in the scenario. Like BESEN, Companies should focus on AC EV chargers.
2. Public EV Charging Infrastructure will develop
Currently, EV charger manufacturers face substantial challenges in establishing a public charging infrastructure. No EV charger manufacturer has yet planned for profit. The cost and time needed to install a public charging station are huge. Apart from price, public demand is low because most people have a charger at home. Conversely, it is also about mindset. People do not want to switch till the availability of a charging station.
Many EV charger manufacturers are drafting infrastructure to build public stations. We expect a bright future for EV chargers because many leading companies have consented to a binding target of 1 million public charging points for EVs by 2024, which will increase to 3 million by 2029.
3. Fuel crisis and inflation will increase demand
In the current year, inflation is at its peak worldwide. Fuel prices are increasing day by day and exceeding the range limit. Moreover, climate change is another factor that is hitting differently. Fuel cars emit carbon dioxide in large quantities, devastating the environment and resulting in a drastic temperature change.
In order to cope climate crisis and inflation, people are also trying to switch to electric cars. The demand for electric buses, vans, cars, and trains is increasing significantly. Similarly, the need for EV chargers and the duty of EV charger manufacturers will continue to expand. If we consider the growth speed in the past few years, it will become one of the most promising industries.
With the advancement of technology and changing people's attitudes, it won't be wrong to say the coming era will be of electric cars. EV charger manufacturer is one of the fastest-growing industries. The consumer will stick to their typical behaviour about preference. They will select the brand that understands the need and convenience.
BESEN is one of the leading industries that produce high-quality EV chargers. They have always been up to listening to the customer and taking them seriously. This company continuously improves and offers the best electric car chargers with a long lifespan.