Solar Panel for Electric Vehicle and Chargers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

To reduce the load on the electric grid for EV charging systems, off-grid chargers powered by solar energy are utilized. These solar panels are able to help electric charging systems in a hybrid manner or be completely off-grid chargers for charging electric vehicles. The growth is attributed to low prices associated with solar charging and surging research and development activities for developing more advanced electric vehicles. Further, the stringent regulations regarding environmental pollution also fuel the demand for solar panels for electric vehicle charging. The demand for a solar-powered electric vehicle is significantly rising across the globe. Additionally, solar panels are the energy-efficient source of charging, thereby positively influencing the market growth.

MARKET SCOPE

The "Global Solar Panel for Electric Vehicle and Chargers Market Analysis to 2031" is a specialized and in-depth study of the solar panel with a special focus on the global market trend analysis. The report aims to provide an overview of the solar panel for electric vehicle and chargers market with detailed market segmentation by charger levels, vehicle types, material type and geography. The report provides key statistics on the market status of the leading solar panel for electric vehicle and chargers market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   On the basis of charger levels the market is segmented into level 1, level 2, and level 3
  
•   On the basis of vehicles types the market is segmented into two-wheelers & three-wheelers, passenger vehicles, commercial vehicles
  
•   On the basis material type, the market is segmented as monocrystalline, poly-crystalline, and others
  
  

MARKET DYNAMICS

Drivers:

•   Rise in demand for electric vehicles
  
•   Increase in R&D investments for introducing energy efficient solar panels
  
  

Restraints:

•   High cost of solar panels and installation restraints the market growth
  
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South America. The solar panel for electric vehicle and chargers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis for all five region, evaluating political, economic, social and technological factors affecting the solar panel for electric vehicle and chargers market in these regions.

IMPACT OF COVID-19 ON SOLAR PANEL FOR ELECTRIC VEHICLE AND CHARGERS MARKET

The emergence of the COVID-19 has severely impacted the solar panel for electric vehicle and chargers market, which resulted decline in the demand for solar panels in the year 2021. The sudden outbreak of the COVID-19 pandemic has adversely affected the global solar panel for electric vehicles and chargers market due to the lockdown imposed and restrictions on cross-border trade, disrupting the supply chain. Further, the temporary shutdown of large-scale manufacturing units and assembly plants throughout the world has negatively affected the production of solar panels. The imposition of lockdown and stringent restriction rules undertaken by the government negatively influenced the overall growth of the automotive industry. However, as the government has started relaxing norms for resuming business activities from 2021, the global solar panel for electric vehicles and chargers market is very likely to witness substantial growth in the forecast period. The upcoming investment prospects in electric vehicles industry is anticipated to boost the market growth over the projected period.

MARKET PLAYERS

The report covers key developments in the solar panel for electric vehicle and chargers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as advancement in products, reallocation of resources and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players in solar panel for electric vehicle and chargers market are anticipated to get lucrative growth opportunities in the future owing increase in demand for electric vehicles.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the solar panel for electric vehicle and chargers market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Electrify America
  
•   Beam Global
  
•   Empower Solar
  
•   Ovo Energy Ltd.
  
•   MyEnergi Ltd.
  
•   WallBox Chargers S.L.
  
•   Power-Sonic
  
•   Hanergy the Film Power
  
•   Wiocor Ltd.
  
•   Vivint Solar
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Solar Panel for Electric Vehicle and Chargers Report Scope