Data disclosed by China Association of Automobile Manufacturers (CAAM) shows that China's new energy automobile exports continue to grow at a high rate, with 499,000 vehicles exported in the first 10 months of 2022, a year-on-year increase of 96.7%. Accompanied by domestic new energy vehicles accelerating to the world, charging pile enterprises also began overseas market layout, market analysis believes that overseas charging pile in the policy subsidies, new energy vehicle penetration rate increase in the stimulation of demand inflection point in 2023, China's products are expected to cost-effective advantage to quickly open the overseas market.
Since 2021, many countries in Europe and the United States have intensively released charging pile policies and subsidy programs, promoting the rapid development of new energy charging infrastructure construction.
In November 2021, the U.S. announced that it would invest $7.5 billion in electric vehicle charging infrastructure construction. The goal of this investment is to build about 500,000 public charging stations by 2030 across the United States.
On October 27, 2022, the European Union (EU) agreed on a "zero CO2 emissions plan for all passenger cars and light commercial vehicles on sale in the EU market from 2035", which is equivalent to a ban on the sale of gasoline and diesel vehicles from 2035 onwards.
Sweden introduced incentives for EV charging stations in August 2022, with grants of up to 50 percent for public and private investments in charging stations, subsidies of up to 10,000 kronor per private charging post, and 100 percent for fast-charging stations used exclusively for public purposes.
Iceland plans to subsidize public charging stations and other infrastructure with approximately $53.272 million between 2020 and 2024, and the United Kingdom announced that from June 30, 2022, all new homes in the England region must be equipped with at least one EV charging station.
Xiong Li, chief analyst of computer industry of Guoxin Securities, said that the current penetration rate of new energy vehicles in Europe and the United States is generally less than 30%, and the subsequent sales will still maintain rapid growth. However, the new charging pile speed and new electric vehicle sales growth rate is seriously mismatched, resulting in the construction of its urgent need to make more space.
According to the International Energy Agency forecast, in 2030, the sales of new energy vehicles in Europe and the United States will reach 7.3 million and 3.1 million respectively. Rapidly growing sales of electric vehicles will stimulate the outbreak of demand for charging pile construction in Europe and the United States.
Compared with our country, at present, Europe and the United States charging pile infrastructure construction is seriously inadequate, contains huge market space. Everbright securities research report pointed out that, as of April 2022, the United States car pile ratio of 21.2:1, the EU overall car pile ratio of 8.5:1, of which Germany is 20:1, the United Kingdom is 16:1, France is 10:1, the Netherlands is 5:1, are with our country has a big gap.
Guosen Securities estimates that the overall charging pile market space in Europe and the United States will total about 73.12 billion yuan in 2025, and will grow to 251.51 billion yuan in 2030.
Since the second half of 2022, many listed companies involved in charging pile business have disclosed their overseas business layout.
Dao Tong Technology said that since the company's AC pile products began to be sold at the end of 2021, it has successively received orders from the UK, Singapore, France, the Netherlands, Germany and other countries, and is gradually making deliveries.
Easite said that the company is optimistic about the development opportunities of overseas charging pile market, in order to fully grasp the policies, regulations and entry thresholds of the overseas market, it has started to actively carry out the relevant certification and testing work, and has already passed a number of tests or certifications by the authoritative testing organization TüV in Europe.
Xiangshan shares in the acceptance of institutional research, the company has been in the development of European standard and American standard charging and distribution products, the company's European standard charging pile products have been completed the development, is through the overseas team and channels gradually invested in overseas markets.
Shenghong disclosed in its half-year report that the company's Interstellar AC piles passed the European standard certification and became the first batch of Chinese pile enterprise suppliers to enter the British Petroleum Group.
"The rapid growth of China-made electric vehicle exports directly drives domestic charging pile enterprises to accelerate the layout of overseas markets." said Deng Jun, vice president of Guangdong Wancheng Wanchong Electric Vehicle Operation Co. According to him, Wancheng Wanchong is also laying out the overseas market and taking the export of charging pile hosts as a new profit point. At present, the company's charging pile equipment is mainly exported to Southeast Asia, South America, and at the same time, it is developing European standard and American standard products.
Among them, the European market is the main export destination for Chinese electric vehicles. According to the General Administration of Customs statistics, in the first half of 2022, the Western European market accounted for 34% of China's new energy passenger car exports.
In addition to optimistic about the overseas blue ocean market, domestic charging pile enterprises "turn the rudder to the sea" also lies in the saturation of the domestic market competition, charging pile enterprises are facing the plight of difficult to make profits, and urgently need to look for new market space to create profit points.
Since 2016, the explosive development of China's charging pile industry has attracted all kinds of capital to compete for the layout, including the State Grid, the Southern Power Grid and other large-scale energy enterprises, SAIC Group, BMW and other traditional automobile enterprises, Xiaopeng Automobile, Azure, Tesla and other new energy automobile enterprises, as well as Huawei, Ant Financial Services, Ningde Times and other giants from all walks of life.
According to the data of Enterprise Search, there are more than 270,000 charging pile related enterprises in China, which is still growing at a high speed. In the first half of 2022, there will be 37,200 new companies, a year-on-year increase of 55.61%.
Under the increasingly fierce competition, the better profitability of overseas charging pile market is full of attraction for domestic charging pile enterprises. Huang Lin, an analyst of CRE Securities, pointed out that the domestic charging pile market is characterized by high competition intensity, low gross profit margin, and single W price of DC pile is only $0.3 to $0.5, while the single W price of overseas charging pile is 2 to 3 times of that of the domestic one, and it is still a blue ocean of price.
GF Securities pointed out that unlike the domestic homogenization competition is fierce, overseas certification entry threshold is high, domestic charging pile enterprises relying on the cost advantage, in the overseas market has a larger profitability, the product is expected to cost-effective advantage, quickly open the overseas market.
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