The global heavy EVs and industrial equipment charging market size is expected to reach USD 10.95 Billion at a revenue CAGR of 12.9% in 2028, according to latest analysis by Emergen Research. Steady heavy EVs and industrial equipment charging market revenue growth can be attributed to increasing initiatives by governments worldwide to curb environmental pollution. Governments across the globe are investing substantially in Electric Vehicle (EV) charging infrastructure to create opportunities for OEMs to expand their business and revenues. Regions such as Asia Pacific and Europe are leading in terms of adoption of these vehicles to curb the level of air pollution and greenhouse gas emissions. Currently, gasoline (petrol and diesel) accounts for majority percentage of fuel used in the transportation sector and extensive use of these fuel results in high levels of harmful greenhouse gas emissions. Electric vehicles presently are the most suitable alternative for reducing usage of conventional fuels and lowering environmental impact.
The latest report on Heavy Electric Vehicles and Industrial Equipment Charging Market offers readers a deeper understanding of the potential target consumers to create a lucrative marketing strategy for the forecast duration from 2020 to 2028. It shall prove particularly helpful for entrepreneurs looking for information on potential customers. Selective public statements released by leading vendors will allow entrepreneurs to acquire a deeper understanding of the local market and prospective clients. The Global Heavy Electric Vehicles and Industrial Equipment Charging Market is growing rapidly and has witnessed significant advancement in recent years, with vital data becoming increasingly accessible and the shift from traditional analysis platforms to self-service analytics, which has dominated the market.
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To offer a more robust business perspective, this study on the global Heavy Electric Vehicles and Industrial Equipment Charging market involves key predictions to give the reader a deeper understanding of the sector. Analysts believe that this research report will be beneficial for financial experts, regulatory bodies, and policymakers. Independent research institutions, non-profit organizations, and corporate entities in the sectors can also leverage the insights offered by this report.
The market intelligence report on the Heavy Electric Vehicles and Industrial Equipment Charging Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.
Top key Companies in Heavy Electric Vehicles and Industrial Equipment Charging Market include are:
Delta Energy Systems, ElectReon, WAVE Inc., BP Chargemaster, WiTricity Corporation, Momentum Dynamics, Greenlots, Robert Bosch GmbH, Siemens AG, and ABB Ltd.
While conducting primary research, the researchers observed that the rapid growth of the Heavy Electric Vehicles and Industrial Equipment Charging Market through the forecast duration is driven by the niche and emerging opportunities for the producers engaged in the worldwide Heavy Electric Vehicles and Industrial Equipment Charging market. The worldwide Heavy Electric Vehicles and Industrial Equipment Charging market has been categorized as product, end-user, and major geographic regions.
Emergen Research has segmented the global heavy EVs and industrial equipment charging market on the basis of application, technology, end-use, and region:
- Application Outlook (Revenue, USD Million; 2018–2028)
- Static Power Transfer
- Dynamic Power Transfer
- Technology Outlook (Revenue, USD Million; 2018–2028)
- Inductive Charging
- Resonant Inductive Charging
- End-Use Outlook (Revenue, USD Million; 2018–2028)
- Electric Bus
- Automated Guided Vehicles
- Heavy Duty Truck
- Semi-Trailer Truck
- Electric Towing Vehicle
- Terminal Tractor
- Scissor Lifts
- Electric Forklifts
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Some Key Highlights From the Report
- In August 2021, Concentric, which is a firm engaged in DC power management solutions for critical power and material handling industries, made an announcement about the purchase of STANGCO Industrial Equipment Inc. for providing charging requirement solutions for various industries.
- Among the technology segments, inductive charging segment revenue is expected to expand at a significantly rapid rate over forecast period. Inductive or wireless charging technology is garnering substantial traction in EV charging as it allows EVs to be charged wirelessly when in close proximity of charging coils. Likely use cases of this technology are placing inductive charging coils in strategic public sites, such as parking spots or roads, to enable charging of vehicles while moving. This technology is expected to reduce need for charging stations and hence save considerable costs on charging infrastructure.
- Among the application segments, dynamic power transfer segment revenue is expected to register a rapid growth rate over forecast period. Dynamic power transfer system provides an uninterrupted power supply for EVs, thereby offering extended driving range for heavy vehicles with reduced battery capacity. Charging EVs on the move allows for substantial reduction in the storage capacity of batteries. Dynamic power transfer systems can be deployed with small segmented coils laid on roads to charge EVs.
- Heavy EVs and industrial equipment charging market in Asia Pacific accounted for largest revenue share in 2020, due to rapid industrialization and high deployment of electric vehicles in countries including China and Japan, which can be attributed to steady electrification of the automobile sector, as well as several initiatives to set up electric vehicle charging infrastructure. China has the largest electric vehicle infrastructure among other countries, with 976,000 charging units (until June 2019). Some of the leading companies in China associated with the manufacturing and installation of charging points are New Energy of China, Qindao Teld State Grid Corporation, AnYo Charging, and Star Charge.
Region wise performance of the Heavy Electric Vehicles and Industrial Equipment Charging industry
This report studies the global Heavy Electric Vehicles and Industrial Equipment Charging market status and forecast, categorizes the global Heavy Electric Vehicles and Industrial Equipment Charging market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
We can also provide the customized separate regional or country-level reports, for the following regions:
North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa
The market size value in 2020
USD 4,104.5 Million
CAGR (2020 – 2027)
The Revenue forecast in 2028
USD 10.95 Billion
Base year for estimation
Revenue in USD Million, and CAGR from 2020 to 2028
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Application, technology, end-use, Region
North America; Europe; Asia Pacific; Central & South America; MEA
U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; India; Japan; South Korea; Brazil; Saudi Arabia; South Africa; Turkey
Key companies profiled
Delta Energy Systems, ElectReon, WAVE Inc., BP Chargemaster, WiTricity Corporation, Momentum Dynamics, Greenlots, Robert Bosch GmbH, Siemens AG, and ABB Ltd
10 hrs of free customization and expert consultation
Table of Content
Chapter 1. Methodology & Sources
1.1. Heavy Electric Vehicles and Industrial Equipment Charging Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Heavy Electric Vehicles and Industrial Equipment Charging Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. Heavy Electric Vehicles and Industrial Equipment Charging Market Segmentation & Impact Analysis
4.1. Heavy Electric Vehicles and Industrial Equipment Charging Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Heavy Electric Vehicles and Industrial Equipment Charging Market indicators analysis
4.2.2. Heavy Electric Vehicles and Industrial Equipment Charging Market drivers analysis
22.214.171.124. Rapid urbanization and industrialization
126.96.36.199. Stringent government regulations regarding carbon emissions
188.8.131.52. Increasing prevalence of respiratory diseases
184.108.40.206. Rising need to enhance indoor air quality
4.2.3. Heavy Electric Vehicles and Industrial Equipment Charging Market restraints analysis
220.127.116.11. High cost associated with the maintenance of Heavy Electric Vehicles and Industrial Equipment Charging products
18.104.22.168. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. Heavy Electric Vehicles and Industrial Equipment Charging Market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
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The Heavy Electric Vehicles and Industrial Equipment Charging research focuses on the possible strengths, drivers, restraints, challenges, threats, opportunities, which can impact the progress of the global Heavy Electric Vehicles and Industrial Equipment Charging market. The viability of new projects and launches has also been evaluated by analysts in this report.
Reasons to buy the report:
- This study segments the Heavy Electric Vehicles and Industrial Equipment Charging market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
- The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Heavy Electric Vehicles and Industrial Equipment Charging sector.
- This report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the market.
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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