Europe and the U.S. are the second and third largest charging pile markets in the world, and the public vehicle-pile ratio is much higher than that of China, with 15:1 and 17:1 in Europe and the U.S. respectively, and the slow-charging ratio is mainly 86% and 81% respectively. Driven by the goal of carbon neutrality, overseas countries have accelerated the market construction by specifying the construction plan of charging piles and giving incentive and subsidy policies. Based on IEA's forecast of charging pile construction in Europe and America, we assume that the unit price of fast charging pile in Europe and America is 120,000-150,000 RMB and the unit price of slow charging pile is 2,500-3,000 RMB, and we optimistically expect that the public charging pile market in Europe and America will be 53.4 billion RMB by 2025, with a compound growth rate of 45.8%.
The overseas charging pile market is different from the domestic market in terms of classification, certification standards, consumer preferences, charging methods and profit concessions, etc. Domestic enterprises going abroad face cultural differences and product certification thresholds.
The hardware components of charging pile include charging module, distribution filtering equipment, monitoring and billing equipment, battery maintenance equipment, etc. The charging module accounts for up to 50% of the total cost. The cost composition of charging modules includes power devices (30%), magnetic components (25%), semiconductor ICs (10%), capacitors (10%), PCBs (10%), etc. Based on this, we expect that by 2025, the incremental market space of charging pile upstream module is 33.5 billion yuan; among which, the incremental market space of power devices, magnetic components, semiconductor ICs and capacitors are 10/8/4/34/34 billion yuan respectively. Assuming that the domestic DC gun price is RMB 3500-4000, AC gun price is RMB 200-300, and charging pile connector price is RMB 600-1000, the corresponding incremental market space of charging gun/connector is RMB 4.8/2.7 billion respectively.
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