Global Organization
[XIE SHANGGUO/FOR CHINA DAILY] Global interest in homegrown charging piles for new energy vehicles has ballooned as China cements its leading position in the global NEV market with exports set to almost double this year, experts and industry executives said.
Employees work on a production line for charging piles in Huzhou, Zhejiang province, in June. [XIE SHANGGUO/FOR CHINA DAILY]
Compared with charging piles for commercial use, those for residential use have relatively lower requirements for fast charging, said Li Chenghai, sales director of Wenzhou-based Huajia Electrical Equipment Co Ltd in Zhejiang.
Referring to the national grid charging pile bidding price and charging equipment ratio, the domestic charging pile market size in 2022 will reach CNY124.1 billion and CNY 204.5 billion in 2025, and poised to grow at a compound annual growth rate (CAGR) of 31.5% during the forecast period 2022 to 2025.
By 2025, the overall charging pile market in Europe and the US will reach a combined total of about 73.12 billion yuan ($10.1 billion), with more than three-quarters of the market share coming from private charging piles, according to an estimate by Guosen Securities.
Its patented technology is based on a simple principle: raising and lowering a heavy weight to store energy. Levistor has developed a unique, low-cost flywheel energy storage system that they are using to boost the grid for ultra-rapid EV charging (350kW). Industrial Power Response develops energy storage systems for intensive applications.
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