Megawatt Charging Systems Market to Reach USD 1.32 Billion by 2031 at 56% CAGR Driven by Siemens and ABB E mobility

The global market for Megawatt Charging Systems (MCS) for Electric Vehicles is entering a decisive phase of growth. According to the latest industry outlook from QYResearch, the market will expand from US$61 million in 2024 to US$1,322 million by 2031, reflecting a compound annual growth rate of 56.0% between 2025 and 2031. Once seen as an experimental technology for electric trucks, buses, and heavy-duty vehicles, megawatt charging is now being standardized, tested at scale, and deployed at public sites in both Europe and North America.

A 1 MW DC MCS charger is roughly $470,800 for equipment and about $658,900 installed (excluding major grid upgrades); using a 50% blended gross margin proxy, the implied equipment-level unit gross profit is around $230,700-$240,100, with COGS roughly $230,700-$240,100, yielding a 50% (±1%) gross margin that will vary by configuration, volumes, and contract terms.

2024-2025 Milestones
The past 18 months have brought a series of breakthroughs. In March 2025, SAE International published J3271, the definitive global standard for megawatt charging, covering the complete system from the grid connection to the vehicle battery. This includes connector specifications, safety protocols, cooling systems, and Ethernet-based communication standards. The release of this framework eliminates uncertainty for manufacturers and infrastructure providers, setting the stage for mass deployment.

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Real-world charging milestones have followed. In May 2024, WattEV launched the United States' first public site with three megawatt-capable ports in Bakersfield, California. In June 2025, Milence, the European joint venture between Daimler Truck, Volvo Group, and TRATON, unveiled its first public megawatt charging demonstration with a Volvo FH Aero Electric at its Landvetter hub in Sweden. Meanwhile, Siemens successfully delivered a 1 MW charge to a heavy-duty prototype truck in testing, ABB E-mobility and MAN jointly demonstrated over 700 kW at 1,000 A in Munich, and Mercedes-Benz Trucks validated 1 MW charging capability on the new eActros 600 prototypes.

Innovation is not limited to road transport. In Amsterdam, Shell introduced the world's first dual-use megawatt charger, capable of supplying power to both electric trucks and electric vessels, signaling a move toward multimodal hubs at ports and logistics centers.

Leading Companies
Stäubli
Kempower
Huber+Suhner
Siemens
ABB E-mobility
Cavotec
Autel Europe EV Charger
Designwerk Technologies AG
ChargePoint
Zerova Technologies
i-charging
Milence
Power Electronics

Applications
• Agricultural and Construction Vehicles
• Heavy Trucks

Classification
• Medium Power System
• High Power System
• Ultra-High Power System

Latest Market Data
• Forecasted Market Size by 2031: US$1,322 million
• CAGR (2025-2031): 56.0%
• Geographic Coverage: North America, Europe, Asia-Pacific, South America, Middle East & Africa
• Players Covered: Stäubli, Kempower, Huber+Suhner, Siemens, ABB E-mobility, Cavotec, Autel Europe EV Charger, Designwerk Technologies AG, ChargePoint, Zerova Technologies, i-charging, Milence, Power Electronics
• By Application: Agricultural & Construction Vehicles; Heavy Trucks
• By Type: Medium Power; High Power; Ultra-High Power
• Coverage: Revenue and volume forecasts, company share, competitive landscape, growth factors, supply chain, and actionable recommendations

Product Spotlights from Leading Companies
Siemens - SICHARGE Megawatt System
Siemens presented its megawatt charging solution in 2024, successfully delivering a 1 MW charge to a heavy-duty truck. Built on the company's modular SICHARGE UC150 platform, multiple cabinets can be combined through a switching matrix to achieve megawatt-class output. This architecture enables a truck battery to recharge from 20% to 80% in approximately 30 minutes, meeting long-haul operational requirements while maintaining scalability for depots and public corridors.

ABB E-mobility - MCS Prototype with MAN eTruck
ABB E-mobility, together with MAN Truck & Bus, carried out one of the first real-world megawatt demonstrations in 2024, achieving over 700 kW at 1,000 A. The collaboration continued in 2025 with the successful test of Ethernet-based communication according to ISO 15118-20/-10, preparing the ground for secure Plug & Charge features and enhanced grid integration. The technology has been specifically designed to reduce dwell times for long-distance trucks.

Kempower - MCS with Mega Satellite
Kempower has positioned itself as a flexible supplier with a system capable of delivering up to 1.2 MW, 1,500 A, and voltages ranging from 200 to 1,250 VDC. Its modular structure allows operators to combine two 600 kW power units to enable a full megawatt output. The system can dynamically share power between MCS and multiple CCS2 connections, enabling operators to serve both heavy-duty fleets and passenger EVs with the same infrastructure.

Huber+Suhner - RADOX® MCS1500 Cable
Huber+Suhner introduced its liquid-cooled RADOX® MCS1500 system with a continuous rating of 2.25 MW (1,500 A at 1,500 V DC). Engineered for extreme durability, the system is tailored for 24/7 heavy-duty use cases such as port logistics and construction depots. The direct liquid cooling reduces conductor size and weight, allowing operators to handle the connector manually without robotic support.

Stäubli - High-Power Connector System
Stäubli's MCS product has been designed with a focus on human factors, offering a rugged and safe connector rated at up to 4.5 MW, 3,000 A, and 1,500 V DC. The company has engineered the interface for repeated manual operation, making it practical for truck drivers at service stations. The solution aligns with CharIN's technical requirements for MCS and positions Stäubli as a key supplier of high-power couplers in both on-road and off-highway segments.

Verified Downstream Users
Volvo Trucks
Scania
MAN Truck & Bus
Mercedes-Benz Trucks
Milence
WattEV
Hedin Mobility Group
Shell
Contargo
E.ON
Remondis
Amazon

Market Trends
Standards Maturity Unlocks Investment
The publication of SAE J3271 in March 2025 marks a turning point. With a unified framework for connectors, cooling, and communication protocols, manufacturers and charging operators now have clarity. Standardization will accelerate corridor planning, reduce compatibility risks, and provide confidence for large-scale procurement.

Public Networks Begin Operations
Until recently, megawatt charging was confined to private depots. With the opening of WattEV's Bakersfield site in 2024 and Milence's first MCS-capable hub in Sweden in 2025, public megawatt charging has officially begun. These facilities integrate MCS ports alongside traditional high-power CCS, proving that mixed-duty hubs can operate commercially.

OEM Validation and Proof of Performance
Truck manufacturers are aligning their platforms with megawatt charging. Mercedes-Benz validated 1 MW charging for its eActros 600 prototypes, MAN collaborated with ABB to achieve 700 kW at 1,000 A, and Siemens demonstrated 1 MW charging in the field. These proof points remove doubts about vehicle readiness and pave the way for high-volume deployments.

Advances in Cable and Connector Technology
Suppliers such as Huber+Suhner and Stäubli are raising the bar on continuous current capability, offering liquid-cooled cables rated beyond 2 MW and robust connectors that can handle up to 4.5 MW. These developments ensure that hardware is ahead of vehicle demand, allowing operators to scale up quickly as long-haul fleets adopt electric trucks.

Flexible Power Sharing for Mixed-Duty Sites
Kempower and others are advancing dynamic power-sharing technology, enabling operators to switch capacity between megawatt-class trucks and passenger EVs. This flexibility improves infrastructure utilization rates and supports investment returns, making public charging sites financially sustainable.

Multimodal Charging Emerges
Shell's Amsterdam installation illustrates a new direction: megawatt charging systems capable of serving both road vehicles and vessels. Ports, airports, and logistics hubs are expected to adopt multimodal charging stations, supported by microgrids and renewable integration.

Europe's Corridor Expansion
European initiatives are accelerating the rollout of heavy-duty charging networks. Projects led by E.ON and MAN involve over 170 planned sites with more than 400 charging points, designed initially for 400 kW CCS but with infrastructure ready to support MCS upgrades. By 2030, Europe is expected to host hundreds of truck charging sites with megawatt capabilities.

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Depot-First Deployment
Private depots remain the most attractive early market, with logistics providers like Contargo and Remondis leading the charge. Investment in depot infrastructure ensures that fleets can operate reliably today, while public networks scale to support third-party usage and long-haul operations.

Growing Fleet Adoption
Customers including Amazon and major logistics operators have already placed orders for megawatt-capable trucks, ensuring demand for compatible infrastructure. Pilots underway in Germany and Scandinavia show that megawatt charging will become a critical enabler of zero-emission freight in the second half of this decade.

Conclusion
With standardization in place, proven prototypes, and the first public megawatt sites operational, the period from 2024 to 2025 has shifted megawatt charging from concept to reality. Backed by rapid growth forecasts and significant investment, the technology is set to become a cornerstone of heavy-duty vehicle electrification, enabling zero-emission freight transport at scale by 2030.

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 2: key insights, key emerging trends, etc.
Chapter 3: Manufacturers competitive analysis, detailed analysis of the product manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc.
Chapter 5 & 6: Sales, revenue of the product in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 10: The main points and conclusions of the report.

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