EV Solar Modules Market, By Solar Panel Type (Monocrystalline and Polycrystalline), By Grid Type (Off-grid Module, On-grid Module, and Hybrid Module), By Application (Passenger Vehicles and Commercial Vehicles), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Apr 2024

Code : CMI6896

Pages :134

Formats :

Excel and PDF

Industry : Energy

Market Concentration and Competitive Landscape

EV Solar Modules Market Concentration By Players

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Rising Deployment of Renewable Energy Infrastructure

Another key factor augmenting the solar modules market for EVs is the growing deployment of renewable energy infrastructure globally. With advancements in solar panel technology, solar power is emerging as one of the most viable and cost-effective clean energy sources. Many countries are investing heavily in utility-scale solar parks and rooftop solar installations to meet their renewable targets. This widespread availability of solar power provides an opportunity to set up more distributed solar EV charging stations. It allows electric vehicles to tap into the renewable energy generated on-site for charging purposes. Moreover, new business models are coming up where third-party solar installation and EV charging companies are setting up combined solar-powered EV fuelling facilities. They offer solar charging services to commercial clients, workplace EV fleets and public places. The growing renewable energy industry thus creates conducive environment for integrated solar-EV solutions. It ensures round-the-clock power availability for EVs through battery energy storage systems. All these factors are raising the popularity of solar EV charging infrastructure and propelling growth in the solar modules market for electric vehicles applications.

Key Players Insights