Electric vehicle charger (EVC) is a device that converts alternating current (AC) to direct current (DC) required to recharge the battery of an electric vehicle. Electric vehicle chargers vary depending on the control of charging rate and also depends on whether the charger is installed on the electric vehicles, such as on-board and off-board electric vehicle charger (EVC), at home on the wall as wall chargers or commercially available as electric charging networks. On-board chargers have low charging capacity, while off-board is large, with power over 30 KW.
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Growing inclination of consumers towards clean energy, is increasing the adoption of electric vehicles. This in turn, is responsible for increasing demand for electric vehicle chargers, thus boosting growth of the electric vehicle charger market.
Increasing number of charging networks are being set up around the world, which in turn is expected to boost growth of the electric vehicle charger market. For instance, charging networks in North America include ChargePoint, Blink, Greenlots, eVgo, Aerovironment, Azra, SemaConnect, Circuit Électrique, RéseauVer, and Sun Country Highway.
Increasing number of initiatives to promote green energy such as GoElectricDrive are fueling growth of the electric vehicle charger market. For instance, Electrify America, a unit of Volkswagen Group of America, plans to invest US$ 2 billion over the next 10 years in Zero Emission Vehicle (ZEV) infrastructure, education/outreach, and access/exposure representing the largest commitment of its kind to date.
ABB announced the installation of electric vehicle chargers at more than 100 Walmart locations across 34 states by June 2019, at Oklahoma Walmart stores. The project will cost between US$ 40,000 and US$ 100,000 to install each electric charger.
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Increasing number of manufacturers are focusing on launching innovative and efficient chargers with super-fast charging speed. For instance, AeroVironment, a technology company involved in energy systems, launched its powerful and easy-to-use 25-ft. EV Charger (32 Amp), offering up to 5x faster charging rate than 120-Volt cord sets. This charger allows for quick, safe, and reliable charging.
ABB launched the fast Terra High Power charger, which can charge an electric vehicle (EV) in eight minutes, thus adding up to 200 km of range. The Swiss-based company unveiled its new super charger at the Hannover Messe 2018.
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