According to MarkNtel Advisors’ research report, “Global Solar Panel for Electric Vehicles and Chargers Market Analysis, 2023”, the market is likely to grow at a CAGR of 35% during 2023-28, primarily due to the surging demand for a clean source of energy and the rising trend of utilization of eco-friendly vehicles. Further, the mounting concerns of global regulatory bodies regarding carbon emissions is another crucial factor that is likely to contribute to propelling the growth of the Solar Panel for Electric Vehicles and Chargers Market across the globe during the forecast period.
Key questions answered in the study
Monocrystalline PV Cells Held the Largest Market Share
Based on the Material, the market classifies into Monocrystalline PV cells, Polycrystalline PV cells, and others, including Thin-film cells. Among these segments, Monocrystalline PV cells attained the highest share in the Global Solar Panel Market for Electric Vehicles and Chargers in the previous few years due to their higher life span and space-efficient nature. Additionally, Monocrystalline PV cells exhibit the highest efficiency compared to any other type of material, thereby propelling the segment growth.
“Global Solar Panel for Electric Vehicles and Chargers Market Analysis, 2023” provides comprehensive, qualitative, and quantitative insights on the market potential, key factors impacting the market growth, hotspots, and opportunities available for solar panel providers for electric vehicles and chargers across the globe. Moreover, the report also encompasses the key strategic imperatives for competitors' success and strategic factorial indexing to measure their capabilities on 16 parameters, which will help companies formulate 'Go to Market' strategies and identify the blue ocean for their offerings.
North America Exhibits Fastest Growth
Globally, North America is likely to register the fastest growth in the Global Solar Panel Market for Electric Vehicles and Chargers during 2023-28. It owes to the rapid adoption of advanced technologies and the developed automobile industry. The United States is one of the largest hubs for automotive manufacturing in the world. Further, the rapid economic growth of the region also accelerates the sales of electric vehicles. Besides, the living standards of North America's people and their burgeoning disposable income also influence the overall market growth. Hence, based on these aspects, North America is likely to contribute to the overall market growth in the forecast period, reveals MarkNtel Advisors in their research report, “Global Solar Panel for Electric Vehicles and Chargers Market Analysis, 2023.”
According to MarkNtel Advisors, the major leading players in the Global Solar Panel Market for Electric Vehicles and Chargers are Electrify America, Beam Global, Ovo Energy Ltd., ChargedEv, MyEnergi Ltd., WallBox Chargers, S.L., Empower Solar, Power-Sonic, Hanergy the Film Power, Wiocor Ltd., Lightyear One, Sono Motors GmbH, Vivint Solar, Toyota Motor Corporation, and Off-Grid Installer Limited.