Solar EV charging Market By Charging Level (Level 2, Level 3 (DC Fast Charging), Level 1), By System (Off Grid, On Grid), By Application (Private EV Charger, Public EV Charger): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global solar EV charging market was valued at $159.6 million in 2021, and is projected to reach $330.9 million by 2031, growing at a CAGR of 8.1% from 2022 to 2031.
Solar EV charging involves solar panel which converts the solar energy into power which is used to fuel EV batteries. Solar energy is a renewable energy source which can be used to generate electricity which can be used to charge an electric vehicle at very low cost. Solar EV charging has emerged as one of the best ways to reduce dependence on fossil fuels for powering various modes of transportation.
The future of transportation lies with electric automobiles. The automotive industry is moving significantly toward the usage of renewable energy to power EVs as industry becomes environmentally conscious. Solar energy is gaining popularity for charging EVs with zero emission which boosts the solar EV charging market size in near future. There is an increase in the demand for EVs in all regions at a fast pace, especially two-wheelers and personal car segment. Wider deployment of fast-charging and ultra-fast-charging infrastructure for EVs accelerate the adoption of solar EV charging solution.
Solar panel collects solar energy during daylight hours and charges a battery which powers a solar EV charging station during peak hours. EVs can be charged with ease with the solar EV charging stations. Residential solar system is particularly advantageous as system allows for both cost-effective EV charging and home lighting. EVs are gaining popularity which help in anticipating that the owners of EVs for investing in the installation of a solar EV charging in home which boosting the growth of the solar EV charging market globally. The solar EV charging market share is expected to increase during the forecast period due to factors such as environmental advantages, low installation, and operating costs.
For the purpose of analysis, the solar EV charging market is segmented on the basis of charging level, system, application and region. On the basis of charging level, the market is divided into Level 1, Level 2, and Level 3 (DC fast charging). On the basis of system, the market is categorized into off-grid, on-grid. On the basis of application, the market is classified into public EV charger and private EV charger. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe.
Major players operating in the global solar EV charging industry include iSun, Inc., Bharat Heavy Electricals Limited, Zhejiang Benyi New Energy Co., Ltd. , PowerFlex, EmPower Solar, HES Solar., Paired Power, KEBA, Brightfield Transportation Solutions., and ChargePoint, Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the solar ev charging market analysis from 2021 to 2031 to identify the prevailing solar ev charging market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the solar ev charging market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global solar ev charging market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
Private EV Charger
Public EV Charger
By Charging Level
Level 2
Level 3 (DC Fast Charging)
Level 1
By System
Off Grid
On Grid
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
UAE
Rest of LAMEA
Key Market Players
iSun, Inc.
Bharat Heavy Electricals Limited
PowerFlex
EmPower Solar
Paired Power
KEBA
Brightfield Transportation Solutions.
Zhejiang Benyi New Energy Co., Ltd.
ChargePoint, Inc.
HES Solar.
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