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Fast-charging station market for EVs to reach $233M in 2019

Posted: 18 Dec 2015     Print Version  Bookmark and Share

Keywords:IHS  EV  charging station  plug-in hybrid  battery 

According to the latest report from IHS Inc., the worldwide market for semiconductors used in electric vehicle (EV) charging stations for plug-in hybrid (PH) and battery electric vehicles (BEV) will continue to grow in the coming years. Offering growth opportunities to semiconductor manufacturers, revenue from semiconductors used in EV charging stations reached $44 million in 2014 and is predicted to grow at a CAGR of 39 per cent to reach $233 million in 2019, added the market research firm.

"Fast charging is a necessary step to the strong adoption of EVs and a higher power rating is required to support these shorter charging times," said Noman Akhtar, industrial semiconductors analyst for IHS Technology. "Electric vehicle charging stations with higher ratings require more power semiconductors, especially discrete semiconductor components, which will lead to increased semiconductor revenue growth."

In 2014, the average price for semiconductor components in a level-two charging station, which could charge a battery in about five hours, was $143. By comparison, semiconductor components used in the latest fast-charging direct-current (DC) chargers now cost more than $1,000. However, they are capable of charging a vehicle battery to 80 per cent of capacity in just 15 minutes.

Global semiconductor revenue for EV charging stations

IHS predicted that the global market for semiconductors used in electric vehicle charging stations for plug-in hybrid and battery electric vehicles will continue to grow in the coming years.

Average selling prices of semiconductors used in communication modules are expected to increase over time, as the industry moves toward single SoC solutions that not only provide faster control, but also include the memory required for secure communications and other applications. "Better communication between the utility and the charger improves the stability of the electric grid," Akhtar said. "The latest developments in communication interface ICs enable more secure and reliable information transfer."





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