Special analysis of the new energy vehicle charging station ev charging module industry

Charging module: The “heart” of DC charging pile benefits from the outbreak of demand and the high power trend is expected to usher in the rise
Charging module: play the role of electrical energy control and conversion, the cost accounts for 50%

The “heart” of DC charging equipment plays a role in electrical conversion. The charging module is used in DC charging equipment. It is the basic unit to realize power transformation such as rectification, inverter, and filter. The main role is to convert the AC power in the grid into DC electricity that can be charged by battery charging. The performance of the charging module directly affects the overall performance of the DC charging equipment. At the same time, it is related to the problem of charging safety. It is the core component of the new energy vehicle DC charging equipment. It is known as the “heart” of DC charging equipment. The upstream of the charging module is mainly chips, power devices, PCB and other types of components. The downstream is the manufacturer, operators and car companies in DC charging pile equipment. From the perspective of the cost composition of DC charging pile, the cost of charging module can reach 50%

In the core parts of the charging pile, the charging module is one of the core components, but it accounts for 50%of its cost. The size of the charging module and the number of modules determine the power of a charging pile power.

The amount of charging piles continued to increase, and the pile ratio gradually decreased. As a supporting infrastructure of new energy vehicles, the number of charging piles has increased with the increase in the amount of new energy vehicles. The ratio of the car pile refers to the ratio of the amount of new energy vehicles to the amount of charging piles. It is an indicator that measures whether the charging pile can meet the demand for the charging of new energy vehicles. More convenient. As of the end of 2022, my country’s new energy vehicles had 13.1 million vehicles, the amount of charging piles reached 5.21 million units, and the pile ratio was 2.5, a significant decline in the 11.6 in 2015.

According to the incremental trend of new energy vehicles in the future, the demand for high power fast charging shows explosive growth, which means that the demand for charging modules will increase greatly, because higher power means more charging modules need to be connected in series. According to the latest number of charging piles in China, the proportion of Chinese public vehicle piles is 7.29: 1 In contrast, the overseas market is more than 23: 1, the European public vehicle pile ratio reaches 15.23: 1, and the construction of overseas car piles is seriously insufficient. In the future, whether it is the Chinese market or there is still a lot of room for growth in the European and American markets, going to sea is also one of the paths for Chinese charging module companies to seek growth.

MIDA specializes in the development, production and sales of the core components of DC charging equipment in new energy vehicles. The main products are 15kW, 20KW, 30KW and 40KW charging modules. It is mainly used in DC charging equipment such as DC charging piles and charging cabinets.

The proportion of DC piles in public charging piles has gradually increased. As of the end of 2022, the number of public charging piles in my country was 1.797 million units, a year -on -year+57%; of which, DC charging piles were 761,000 units, a year -on -year+62%. quick. From the perspective of the proportion, at the end of 2022, the proportion of DC piles in public charging piles reached 42.3%, an increase of 5.7PCTs from 2018. With the requirements of the downstream new energy vehicles on the charging speed, the future of DC piles is expected to further further increase promote.

Under the trend of high power charging, the amount of charging modules is expected to increase. Driven by the demand for fast replenishment, new energy cars develop to high voltage platforms above 400V, and the charging power has gradually increased, bringing a significant shortening of charging time. According to Huawei’s “White Paper of the Development Trend of Charging Infrastructure” released by Huawei in 2020, taking passenger cars as an example, Huawei is expected to reach 350kW by 2025, and it will only take 10-15 minutes to be fully charged. From the perspective of the internal structure of DC charging piles, to achieve high -power charging, the number of parallel connections of the charging module needs to be increased. For example, the 60kW charging pile requires 2 30KW charging modules for parallel, and 120kW needs 4 30KW charging modules to connect parallel. Therefore, to achieve higher power fast charging, the use of pre -modules will be improved.

After years of full competition in history, the price of charging modules has stabilized. After years of market competition and price war, the price of charging modules has dropped sharply. According to data from the China Business Industry Research Institute, the single W price of the charging module in 2016 was about 1.2 yuan. By 2022, the price of the charging module W has dropped to 0.13 yuan/W, and the 6 years decreased by about 89%. From the perspective of price changes in recent years, the current price of charging modules has stabilized and the annual decline is limited.

Under high power trends, the value and profitability of the charging module have been improved. The greater the power of the charging module, the more electricity outputs the output during the unit time. Therefore, the output power of the DC charging pile is developing in a larger direction. The power of a single charging module is developed from the early 3KW, 7.5kW, 15kW, to the current direction of 20kW and 30KW, and it is expected to develop in the application direction of 40KW or higher power level.

Market space: Global space is expected to exceed 50 billion yuan in 2027, corresponding to 45% CAGR in the next 5 years
On the basis of the prediction of charging piles in the “100 billion market, the profit margin of profit” (20230128), which we previously released, based on the “100 billion market, the profit margin of profit” (20230128), the global charging module market space is The hypothesis is as follows: The average charging power of the public DC pile: In high power trends, it is assumed that the charging power of the DC charging pile increases by 10%each year. It is estimated that the average charging power of the public DC pile in 2023/2027 is 166/244kW. Charging module single W price: domestic market, accompanied by technological progress and scale effects, assuming that the price of the charging module is decreased year by year, and the decline will slow down year by year. It is expected that the single W price of 2023/2027 is 0.12/0.08 yuan; The manufacturing cost is higher than the domestic, and the price of single W is expected to be about twice the domestic market. Based on the above assumptions, we expect that by 2027, the global charging module market space will be about 54.9 billion yuan, corresponding to 45%CAGR from 2022-2027.