CTEK is the leading global supplier of 12v battery chargers for various vehicles in the premium segment and the second largest supplier of electric vehicle service equipment in Sweden (EVSE).
The Company is characterised by a strong innovation culture and works continuously to improve and develop new products to suit customer needs. CTEK was founded in Vikmanshyttan in 1997 and now has sales in more than 70 countries. With a history of innovation and technology leadership, the Company meets new customer requirements by continuously developing its product offering and operations pro-actively.
Based on its technology leadership, the Company has established strong and long-standing customer relationships with more than 50 of the world’s most prestigious OEMs. In addition to OEMs, the Company also offers products to workshops, distributors, retailers, parking lots, charge point operators, property owners and consumers.
With a market share of about 10 percent, CTEK is the global market leader within premium low voltage chargers.
EVSE market size per application
The European EVSE market is projected to grow rapidly in the coming years, mainly driven by stricter regulations, new technologies and charging infrastructure, and changed consumer behaviour. Europe is a strong driver in the global electrification of the vehicle fleet. The EVSE market in Europe amounted to SEK 7.4 billion in 2020 and the average annual growth rate is projected to reach 27 percent by 2025. By 2025, the value of the market is projected to reach SEK 24.6 billion. In addition, the market penetration of EVs is projected to surge in Europe and by 2030, EVs are projected to account for 17 percent of the total vehicle fleet. CTEK is the second-largest player on the Swedish EVSE market with a market share of about 25-30 percent.
The global premium low voltage market is projected to see continued growth in the coming years, mainly driven by technological advancements for car batteries and the vehicle fleet in general, and a changed product mix. In 2020, the value of the premium low voltage charger market was approximately SEK 4.5 billion and the average annual growth rate is projected to reach 3 percent by 2025. By 2025, the value of the market is projected to reach SEK 5.2 billion. Europe accounts for about 30 percent of the global market, North America for 20 percent, Asia for 40 percent and other continents for 10 percent. With a market share of about 10 percent, CTEK is the global market leader within premium low voltage chargers.