Market Research Report

Global Solar Panel for Electric Vehicle and Chargers Market Research Report: Forecast (2023-2028)

By Vehicle Type (Passenger Electric vehicles, Commercial Electric vehicles, Electric two-wheelers & three-wheelers), By Material (Monocrystalline PV cells, Polycrystalline PV cells..., Others (Thin-film cells)), By Charger Type (Private EV chargers, Public EV chargers), By Changing Levels (Level 1, Level 2, Level 3), By Installation Type (Solar Roof, Solar Windows), By Number of Cells (Less than 60, 60-96 Cells, Above 96 Cells), By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa), By Country (U.S, Canada, Brazil, Mexico, Germany, France, The U.K, China, India, Japan, Australia, South Korea, Middle East, Africa), By Competitors (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, Off-Grid Installer Limited) Read more

  • Automotive
  • Jan 2023
  • Pages 245
  • Report Format: PDF, Excel, PPT

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Market Overview

Solar panels in electric vehicles (EVs) primarily provide power to ancillary systems or a vehicle's battery.

According to MarkNtel Advisors’ research report, “Global Solar Panel for Electric Vehicles and Chargers Market, 2023,” the market is likely to grow at a CAGR of around 35% during 2023-28. It attributes to low prices associated with solar charging and surging research and development activities for developing more advanced electric vehicles. Further, burgeoning concerns regarding environmental pollution also fuel the demand for solar panels in electric vehicle charging. Besides, a solar panel for EVs is considered an energy-efficient source for charging, thereby fueling the growth of the Solar Panel for Electric Vehicles and Chargers Market.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 35%
Regions Covered North America: USA, Canada, Mexico
Europe: Germany, UK, France
Asia-Pacific: China, India, Japan, South Korea, Australia
South America: Brazil
Key Companies Profiled 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, Off-Grid Installer Limited
Unit Denominations USD Million/Billion

 

Impact of COVID-19

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, the Global Solar Panel for Electric Vehicles and Chargers Market is very likely to witness substantial growth in the forecast period.

Market Segmentation

Passenger Electric Vehicles Accounted for the Largest Market Share

Based on the Vehicle Type, the market segments into Passenger Electric vehicles, Commercial Electric vehicles, and Electric two-wheelers& three-wheelers. Among these segments, the Passenger Electric vehicles acquired the largest share in the Global Solar Panel for Electric Vehicles and Chargers Market in the past few years.

It owes to changing consumer lifestyles and their burgeoning purchase power, which aids the sales of premium passenger electric cars. Additionally, the efficiency of the solar-powered electric car is very high, thereby fueling the segment growth and driving the overall market, cites MarkNtel Advisors in their research report, “Global Solar Panel for Electric Vehicles and Chargers Market, 2023.”

Level 2 Dominated the Market 

Based on Changing Levels, the market bifurcates into Level 1, Level 2, and Level 3. Of these levels, Level 2 captured a significant share in the Global Solar Panel for Electric Vehicles and Chargers Market in the previous few years. The segment growth owes to the surging government focus on public & semi-public charging stations for providing services like overnight charging. In addition to this, rising consumer preference to use Level 2 chargers as private charging stations at their home is another prime factor propelling the segment growth.




Regional Landscape

Asia-Pacific Region Attained the Highest Market Share

Geographically, Asia-Pacific held the largest share in the Global Solar Panel for Electric Vehicles and Chargers Market in the previous few years. It owes to the burgeoning demand for electric vehicles in the emerging countries of the region. Additionally, the mounting purchasing power of the middle-class populace further aids the sales of EVs in Asa-Pacific, which, in turn, fuels the demand for solar panels for charging the vehicle.

Further, the availability of economic labor is beneficial to expand the automobile industry in the region, thereby helping in propelling the growth of the Solar Panel for Electric Vehicles and Chargers Market.

Market Driver

Low Charging Cost Boost the Market Growth

One of the most crucial factors driving the Solar Panel for Electric Vehicles and Chargers Market is the surging prices of petroleum products. Consumers from various emerging countries are adversely affected by the high cost of petrol. Therefore, 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.

Competitive Landscape

According to MarkNtel Advisors, the major leading players in the Global Solar Panel for Electric Vehicles and Chargers Market 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.

Key Questions Answered in the Market Research Report:

  1. What are the overall market statistics or estimates (Market Overview, Market Size- by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Solar Panel for Electric Vehicles and Chargers Market?
  2. What is the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Solar Panel for Electric Vehicles and Chargers Market? 
  4. Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Solar Panel for Electric Vehicles and Chargers Market based on a competitive benchmarking matrix?
  5. What are the key results derived from the market surveys conducted during the Global Solar Panel for Electric Vehicles and Chargers Market study?   

Market Outlook, Segmentation, and Statistics 

  • Impact of COVID-19 on Global Solar Panel for Electric Vehicles and Chargers Market
  • Market Size & Analysis
    • By Revenue
  • Market Share & Analysis
    • By Vehicle Type      
      • Passenger Electric vehicles
      • Commercial Electric vehicles
      • Electric two-wheelers and three-wheelers
    • By Material
      • Monocrystalline PV cells
      • Polycrystalline PV cells
      • Others (Thin film cells)
    • By Charger Type
      • Private EV chargers
      • Public EV chargers
    • By Changing Levels
      • Level 1
      • Level 2
      • Level 3
    • By Installation Type
      • Solar Roof
      • Solar Windows
    • By Number of Cells
      • Less than 60
      • 60-96 Cells
      • Above 96 Cells
    • By Region
      • North America
      • South America
      • Europe
      • Middle East & Africa
      • Asia-Pacific
    • By Competitors
      • Competition Characteristics
      • Market Share & Analysis
      • Competitive Metrix
  • Global Solar Panel for Electric Vehicles and Chargers Market Hotspots & Opportunities
  • Global Solar Panel for Electric Vehicles and Chargers Market Regulations & Policy
  • Key Strategic Imperatives for Success and Growth
  • Global Competition Outlook
    • Competition Matrix
    • Company Profile

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Frequently Asked Questions

   A. The Solar Panel for Electric Vehicles and Chargers Market is forecast to grow at a CAGR of 35% during 2023-28.

   A. 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 are few of the leading players of the Global Solar Panel for Electric Vehicles and Chargers Market .

   A. Passenger electric Vehicle is likely to attain the highest CAGR during the forecast period and maintain their significant market share.

   A. Asia Pacific continues to grow at the highest CAGR during 2023-28, thereby presenting immense opportunities to market players of the Solar Panel for Electric Vehicles and Chargers Market.

   A. Surging demand for solar-based charging as an alternative to EVs, a cleaner option for fueling EVs, and government incentives for encouraging environment-friendly vehicles are primary factors propelling the market growth.

   A. The outbreak of the COVID-19 pandemic adversely affected the Solar Panel for Electric Vehicles and Chargers Market due to the lockdown imposed, restrictions on cross-border trade that disrupted the supply chain, and the temporary shutdown of manufacturing units reducing the production capacity of EVs.

  1. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
    4. Market Segmentation
  2. Preface
  3. Executive Summary
  4. Impact of COVID-19 on Global Solar Panel for Electric Vehicles and Chargers Market  
  5. Global Electric Vehicle Production Outlook, By Region
    1. North America
    2. Asia Pacific
    3. Europe
  6. Global Solar Panel for Electric Vehicles and Chargers Market Trends & Insights
  7. Global Solar Panel for Electric Vehicles and Chargers Market Dynamics
    1. Drivers
    2. Challenges
    3. Impact Analysis
  8. Global Solar Panel for Electric Vehicles and Chargers Market Hotspot & Opportunities
  9. Global Solar Panel for Electric Vehicles and Chargers Market Regulations, Policies, Product Benchmarks
  10. Global Solar Panel for Electric Vehicles and Chargers Market Analysis, 2018-2028F
    1. Market Size & Analysis
      1. Revenues 
    2. Market Share & Analysis
      1. By Vehicle Type      
        1. Passenger Electric vehicles
        2. Commercial Electric vehicles
        3. Electric two-wheelers and three-wheelers
      2. By Material
        1. Monocrystalline PV cells
        2. Polycrystalline PV cells
        3. Others (Thin film cells)
      3. By Charger Type
        1. Private EV chargers
        2. Public EV chargers
      4. By Changing Levels
        1. Level 1
        2. Level 2
        3. Level 3
      5. By Installation Type
        1. Solar Roof
        2. Solar Windows
      6. By Number of Cells
        1. Less than 60
        2. 60-96 Cells
        3. Above 96 Cells
      7. By Region
        1. North America
        2. South America
        3. Europe
        4. Middle East & Africa
        5. Asia-Pacific
      8. By Competitors
        1. Competition Characteristics
        2.  Market Share & Analysis
        3. Competitive Matrix
  11. North America Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
      3. By Number of Cells
      4. By Charger Type
    3. By Country
      1. The US
      2. Canada
      3. Mexico
  12. The US Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
  13. Canada Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
  14. Mexico Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
  15. South America Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
      3. By Number of Cells
      4. By Charger Type
      5. By Country
        1. Brazil
        2. Others
  16. Europe Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
      3. By Number of Cells
      4. By Charger Type
      5. By Country
        1. Germany
        2. The UK
        3. France
        4. Others
    3. Germany Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
    4. The UK Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
    5. France Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
  17. Middle East & Africa Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
      3. By Number of Cells
      4. By Charger Type
      5. By Country
        1. Middle East
        2. Africa
  18. Asia Pacific Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenue
    2. Market Share & Analysis
      1. By Vehicle Type
      2. By Material
      3. By Number of Cells
      4. By Charger Type
      5. By Country
        1. India
        2. China
        3. Japan
        4. South Korea
        5. Australia
        6. Others
    3. India Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
    4. Japan Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
    5. China Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
    6. South Korea Solar Panel for Electric Vehicles and Chargers Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenue
      2. Market Share & Analysis
        1. By Vehicle Type
        2. By Material
  19. Key Strategic Imperatives for Success and Growth
  20. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Target End Users
      4. Research & Development
      5. Strategic Alliances
      6. Strategic Initiatives
    2. Company Profiles (Business Description, Product Offering, Strategic Alliances or Partnerships, etc.)
      1. Electrify America
      2. Beam Global
      3. Ovo Energy Ltd.
      4. ChargedEv
      5. MyEnergi Ltd.
      6. WallBox Chargers, S.L.
      7. Empower Solar
      8. Power Sonic
      9. Hanergy the Film Power
      10. Wiocor Ltd.
      11. Lightyear One
      12. Sono Motors GmbH
      13. Vivint Solar
      14. Toyota Motor Corporation
      15. Off Grid Installer Limited
  21. Disclaimer


MarkNtel Advisors follows a robust and iterative research methodology designed to ensure maximum accuracy and minimize deviation in market estimates and forecasts. Our approach combines both bottom-up and top-down techniques to effectively segment and quantify various aspects of the market. A consistent feature across all our research reports is data triangulation, which examines the market from three distinct perspectives to validate findings. Key components of our research process include:

1. Scope & Research Design At the outset, MarkNtel Advisors define the research objectives and formulate pertinent questions. This phase involves determining the type of research—qualitative or quantitative—and designing a methodology that outlines data collection methods, target demographics, and analytical tools. They also establish timelines and budgets to ensure the research aligns with client goals.

2. Sample Selection and Data Collection In this stage, the firm identifies the target audience and determines the appropriate sample size to ensure representativeness. They employ various sampling methods, such as random or stratified sampling, based on the research objectives. Data collection is carried out using tools like surveys, interviews, and observations, ensuring the gathered data is reliable and relevant.

3. Data Analysis and Validation Once data is collected, MarkNtel Advisors undertake a rigorous analysis process. This includes cleaning the data to remove inconsistencies, employing statistical software for quantitative analysis, and thematic analysis for qualitative data. Validation steps are taken to ensure the accuracy and reliability of the findings, minimizing biases and errors.

Data Trangulation

4. Data Forecast and FinalizationThe final phase involves forecasting future market trends based on the analyzed data. MarkNtel Advisors utilize predictive modeling and time series analysis to anticipate market behaviors. The insights are then compiled into comprehensive reports, featuring visual aids like charts and graphs, and include strategic recommendations to inform client decision-making

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