Driven by new energy vehicles, the growth rate of China's charging station industry continues to accelerate. The development of the charging station industry is expected to accelerate again in the next few years. The reasons are as following:
1)the penetration rate of new energy vehicles in China will further increase, and may reach 45% in 2025;
2)the vehicle-station ratio will further decrease from 2.5:1 to 2:1;
3)European and American countries continue to increase policy support for new energy vehicles, and the European and American markets are expected to maintain high growth rates in the future;
4)the vehicle-to-pile ratio in European and American countries is still high, and there is a huge room for decline.
In this context, Chinese companies are actively seeking to enter the European and American markets, and are expected to increase their global market share with high cost performance.
The rapid growth of new energy vehicle sales is the main reason for the growth of charging stations. In recent years, China's new energy vehicle industry has entered a stage of rapid development of large-scale and high-quality, and the main driving force of industry development has shifted from government policies to market demand. The technology of new energy vehicles is becoming more and more mature, and the number of pure electric vehicles continues to increase. As of 2022, the sales volume of pure electric vehicles has climbed to 5.365 million, and the number of vehicles has reached 13.1 million. According to the China Association of Automobile Manufacturers, the sales volume of new energy vehicles in China is expected to reach 9 million in 2023.
In recent years, the construction of charging stations in China has grown rapidly. In 2022, the annual increase in charging infrastructure was 2.593 million units, among which the public charging stations have increased by 91.6% year-on-year, and the private charging stations going with vehicles have increased by 225.5% year-on-year. As of December 2022, the cumulative number of charging infrastructure in China was 5.21 million units, a year-on-year increase of 99.1%.
The new energy vehicle in the European and American markets has maintained a relatively high growth rate in recent years. According to Marklines data, in 2021, a total of 2.2097 million new energy vehicles have been sold in major European countries, a year-on-year increase of 73%. A total of 666,000 new energy vehicles have been sold in The United States, a year-on-year increase of 100%. In recent years, European and American countries have continuously increased their policy support for new energy vehicles, and the European and American new energy vehicle markets are expected to maintain high growth rates in the future. The International Energy Agency predicts that global sales of electric vehicles are expected to reach nearly 14 million in 2023. This explosive growth means that the share of electric vehicles in the overall car market has risen from about 4% in 2020 to 14% in 2022, and is expected to further increase to 18% in 2023.
The growth rate of new energy vehicles in Europe and the United States is relatively fast, and the ratio of public vehicles to charging stations remains high. The construction progress of charging stations in Europe and the United States lags behind, and the ratio of vehicles to charging stations is much higher than that in China. The vehicle-station ratios in Europe in 2019, 2020, and 2021 are 8.5, 11.7, and 15.4, respectively, while those in the United States are 18.8, 17.6, and 17.7. Therefore, the vehicle-station ratio in Europe and the United States has a large room for decline, which shows that there is still a lot of room for development in the charging station industry chain.
Post time: Jun-05-2023