China's EV charging infrastructure total up 39.6% YoY, sector enters phase of high growth and structural upgrade

The National Energy Administration has released data showing that as of August 2026, the total number of electric vehicle charging infrastructure units (charging guns) in China reached 24.223 million, representing a year-on-year increase of 39.6%.

Key Data Breakdown

• Public charging facilities (guns): 5.16 million units, up 19.5% year-on-year, with an average power output of approximately 50.69 kW per gun
• Private charging facilities (guns): 19.063 million units, up 46.3% year-on-year, with a total installed power capacity of 163 million kVA

Industry Expert Insights

Multiple industry experts noted that home charging is becoming the mainstream method for consumers to recharge their vehicles. From an overall industry perspective, the EV charging infrastructure sector continues to maintain a high level of activity, transitioning from simple total volume expansion into a new phase characterized by "high total volume growth and structural quality upgrades."

Driving Forces Behind Industry Growth

The strong growth data reflects ongoing efforts by companies across the industrial chain to optimize product structures, cultivate long-term growth momentum, and drive high-quality business development.

Product Differentiation and Business Model Upgrades

• Building differentiated competitive capabilities has become a key objective for companies refining their product structures. For example, Hangzhou Zhongheng Electric is actively pursuing this strategy.
• Upgrading business models through product portfolio expansion is another path for listed companies to broaden growth opportunities. For instance, Zhejiang Wanma Co., Ltd. is deepening its focus on heavy trucks and long-haul logistics.

Why Companies Are Accelerating Product Structure Optimization

Gao Chengyuan, President of the Tiaoyuan Influence Research Institute, explained to Securities Daily:

"Companies are intensively adjusting their product structures due to dual pressures: the need for technological iteration of existing equipment and the profitability requirements of incremental markets. On the stock side, early mainstream air-cooled charging piles are gradually being replaced by liquid-cooled ultra-fast charging, while power thresholds for new stations continue to rise. On the incremental side, competition in low-power products is intensifying and prices are under pressure, whereas high-power products offer a technological premium and can serve as a practical path to improving gross margins."

Emerging Risks and Challenges

While product structure optimization and accelerated technological iteration bring benefits, they also introduce new operational risks. Balancing upfront investment with long-term returns, and avoiding new waves of low-end capacity overcapacity and redundant construction, have become pressing issues for charging facility companies.

Chen Rongrong, CEO of Shanghai Freerider Information Technology Co., Ltd., told Securities Daily:

"The industry opportunity lies not in 'who builds the fastest,' but in 'who builds the most accurately and operates the best.' Companies should follow the principle of 'building based on demand, iterating step by step,' and avoid blindly upgrading entire product lines. Enterprises should precisely position themselves in areas such as highway corridors."

Source: Securities Daily