Understand the structural analysis and industrial policies of the vehicle charger industry chain in one article

1. Concept and definition of vehicle charger

According to the definition of "Electric Vehicle Terminology" (GB/T 19596-2017), a vehicle charger refers to a vehicle that is fixedly installed on the vehicle, converts the electric energy that conforms to the public grid into the direct current required by the vehicle energy storage device, and stores energy on the vehicle. Device charging equipment.

The on-board charger refers to the charging equipment fixedly installed on the new energy vehicle. Its function is to convert the alternating current of the grid into the direct current that can be used by the power battery through the control signal of the battery management system (BMS). It is very important for the power battery of the new energy vehicle. to charge.

2. Analysis of market environment of vehicle charger industry

1. Policy environment

With the rapid development of the industry, the State Council, the National Development and Reform Commission, the Ministry of Industry and Information Technology and other relevant departments have issued a series of policies and regulations to regulate the development of the industry and guide the transformation and upgrading of the industry.

The "Strategic Emerging Industries Classification (2018)" lists "new electronic components and equipment manufacturing", "new energy vehicle on-board chargers" and "new energy vehicle DC/DC converters" as key products of the national strategic emerging industries. .

Main laws, regulations and industrial policies of the vehicle charger industry

Source: Compiled by Zhiyan Consulting

2. Social environment

According to statistics, from 2013 to 2022, the number of patent applications in China's vehicle charger industry reached a total of 2,325, with the industry's highest peak of 387 in 2018. In recent years, the number of patent applications in the vehicle charger industry has shown a slight downward trend.

Trend chart of the number of patents in China’s vehicle charger industry from 2013 to 2022

Data source: compiled by Baiteng.com and Zhiyan Consulting

Analysis of the patent type distribution of applicants in China's vehicle charger industry from 2013 to 2022 (unit: pieces)

Data source: compiled by Baiteng.com and Zhiyan Consulting

Analysis of the R&D team size of patent applicants in China's vehicle charger industry from 2013 to 2022

Data source: compiled by Baiteng.com and Zhiyan Consulting

The content of this article is excerpted from the "2023-2029 China Vehicle Charger Industry Market Competition Situation and Investment Planning Analysis Report" released by Zhiyan Consulting

3. Analysis of the industrial chain structure of the vehicle charger industry

1. Industrial chain

The upstream of the vehicle charger industry includes electronic components, integrated circuits, hardware structural parts, etc., the midstream is vehicle charger manufacturers, and the downstream is mainly the new energy vehicle industry.

Vehicle charger industry chain

Source: Compiled by Zhiyan Consulting

2. Upstream analysis

(1) Electronic components

Semiconductor devices are important raw materials for vehicle chargers and are currently in the stage of localization substitution. The development of the vehicle charger industry has strongly promoted the application of upstream industrial technologies such as semiconductors. In the long term, the accelerated pace of localization substitution in upstream industries will be beneficial to the effective and timely supply of raw materials and cost control to a certain extent. Affected by the chip shortage since 2021, chip purchase prices have increased to a certain extent. However, with the accelerated pace of localized substitution, the chip shortage is expected to be alleviated and improved as soon as possible.

Since 2016, my country's optoelectronic device output has expanded rapidly. In 2018, the national optoelectronic device output was 1.706 billion, a year-on-year increase of 44.94%. The output of optoelectronic devices declined in 2019 and 2020, falling to 1,089.92 billion and 972.29 billion respectively. It will grow to 1,231.41 billion in 2021, a year-on-year increase of 26.65%.

Change trend of China’s optoelectronic device output from 2013 to 2021

Source: Ministry of Industry and Information Technology

(2) Integrated circuit

Data show that in 2020, my country's integrated circuit output reached 261.47 billion units, which increased to 359.4 billion units in 2021, a year-on-year increase of 37.45%. There will be a slight decline in 2022 compared with 2021, with output falling to 324.2 billion units.

Change trend of China's integrated circuit output from 2013 to 2022

Source: Ministry of Industry and Information Technology

3. Downstream analysis

Vehicle chargers are an important component of new energy vehicles. The downstream of the industry are new energy vehicle companies and supporting companies. The rapid development of the downstream new energy vehicle industry has provided a broad development space for the vehicle charger industry.

In 2021, my country's new energy vehicle production and sales will be 3.5449 million and 3.5205 million respectively. In 2022, my country's new energy vehicle production will be 7.058 million vehicles and sales will be 6.887 million vehicles, a year-on-year increase of 99.1% and 95.6% respectively.

Change trends in China's new energy vehicle production and sales from 2013 to 2022

Source: Association of Automobile Manufacturers

4. Analysis of the current market situation of the vehicle charger industry

1. Production scale

In 2016, my country's vehicle charger industry produced 520,000 units, which will increase to 3.558 million units in 2021, with a compound annual growth rate of 46.91%.

Output of China's vehicle charger industry from 2016 to 2021

Source: Compiled by Zhiyan Consulting

2. Scale of demand

In 2016, my country's demand for vehicle-mounted chargers was 516,000 units. By 2021, my country's market demand for vehicle-mounted chargers will reach 3.5449 million units, with an average annual compound growth rate of 47.02%.

From the perspective of market segments, the proportion of demand for integrated vehicle charger products is gradually increasing, while the proportion of demand for single products is gradually declining. In 2020, integrated vehicle charger products accounted for 65.50% of the vehicle charger industry, and single product demand accounted for 34.50%. By 2021, integrated products accounted for 89.50%, and single products accounted for 10.50%.

China’s vehicle charger demand and segmented demand from 2016 to 2021

Source: Compiled by Zhiyan Consulting

3. Market size

In 2016, the market size of my country's vehicle charger industry was 1.196 billion yuan. By 2021, the market size of my country's vehicle charger industry will reach 7.651 billion yuan, an increase of 259.36% from 2.95 billion yuan in 2020, with an average annual compound growth rate of 44.94%.

Market size of China's vehicle charger industry from 2016 to 2021

Source: Compiled by Zhiyan Consulting

5. Analysis of the competitive landscape of the vehicle charger industry

1. Enterprise structure

Major industry manufacturers of vehicle power supplies include Vimax, Xinrui Technology, Fute Technology, Inbol, Inovance Technology, Delta Electronics, Valeo, etc.

Major companies in the industry

Source: Compiled by Zhiyan Consulting

2. Key enterprises

Wemax has been deeply involved in the automotive power supply industry for many years and is committed to establishing a diversified and decentralized customer base to diversify business risks. Relying on its competitive advantages in R&D innovation, technology accumulation, production and manufacturing, and product quality, the company has accumulated a large number of OEM customer resources with strategic cooperation relationships.

In the domestic new energy vehicle market, the company actively implements the "import substitution" strategy. The company has cooperated with new car-making forces such as Xpeng Motors, Li Auto, Hezhong New Energy, and Leapmotor, as well as SAIC Group, SAIC-GM, Geely Automobile, Many well-known companies such as Chery Automobile and Changan Automobile have established long-term strategic cooperative relationships. With its rich technology development experience and strict quality control, the company has established a good reputation among many OEM customers.

Revenue scale of Weimax vehicle charger-related business from 2019 to 2021

Source: Company annual report

6. Analysis of development trends of vehicle charger industry

The development of vehicle charger technology has played a role in promoting the popularization of new energy vehicles. Vehicle chargers have high requirements for charging power, charging efficiency, weight, volume, cost and reliability. In order to realize the intelligentization, miniaturization, lightweight and high efficiency of vehicle chargers, related research and development work has made great progress. The research directions are mainly focused on intelligent charging, battery charge and discharge safety management, and improving vehicle chargers. Efficiency and power density, miniaturization of vehicle chargers, etc. Thanks to the development of power electronics technology, SiC silicon carbide diodes, silicon carbide MOSFETs and silicon carbide IGBTs are developing rapidly. With the development of technology, vehicle chargers are developing in the direction of bidirectional charging and discharging, intelligence, and integration.

Development trends of vehicle charger industry