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.
Rising emphasis on cost-efficient productivity and efficiency is driving demand for Industry 4.0, which in turn is propelling heavy EVs and industrial equipment charging market revenue growth. With the advent of Industry 4.0, several industries are experiencing enhanced efficiency, increased output, personalized offerings, lower-cost benefits, and novel business model development. All this is achieved through use of automated equipment, which helps in streamlining processes and providing opportunities for new ideas to implement. Most automated equipment, particularly mobile equipment, require batteries to function, and this is driving demand for industrial equipment charging solutions.
Heavy Electric Vehicles and Industrial Equipment Charging Market Forecast to 2028”. The report sheds light on the current as well as upcoming market trends. The report offers precise information about pricing, capacity, value, gross revenue, and profit of the market. The primary aim of the report is to offer in depth details about market size, revenue growth and overall market dynamics to readers, stakeholders, companies to strengthen their share in the global Heavy Electric Vehicles and Industrial Equipment Charging market. It also provides in depth information about key factors, restraints, limitations, challenges along with various market segmentations such as product type, application and regional bifurcation.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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The Regional Global Market Research Heavy Electric Vehicles and Industrial Equipment Charging helps business players to gain a comprehensive understanding of the development of various geographic markets in recent years and in the future. Furthermore, the report provides a comprehensive overview of vital dynamics of the global Heavy Electric Vehicles and Industrial Equipment Charging industry, including market and market influencers, driving forces, threats, restraints, trends and prospects.
Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. Delta Energy Systems, ElectReon, WAVE Inc., BP Chargemaster, WiTricity Corporation, Momentum Dynamics, Greenlots, Robert Bosch GmbH, Siemens AG, and ABB Ltd.
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.
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The report has classified the global Heavy Electric Vehicles and Industrial Equipment Charging industries into segments including product type and application. Every segment is evaluated based on growth rate and share. Besides, the analysts have studied the potential regions that may prove rewarding for the Heavy Electric Vehicles and Industrial Equipment Charging companies in the coming years. The regional analysis includes reliable predictions on value and volume, thereby helping market players to gain deep insights into the overall Heavy Electric Vehicles and Industrial Equipment Charging7 industry.
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)
Resonant Inductive Charging
End-Use Outlook (Revenue, USD Million; 2018–2028)
Automated Guided Vehicles
Heavy Duty Truck
Electric Towing Vehicle
The prime objective of this report is to provide the insights on the post COVID-19 impact which will help market players in this field evaluate their business approaches. Also, this report covers market segmentation by major market verdors, types, applications/end users and geography(North America, East Asia, Europe, South Asia, Southeast Asia, Middle East, Africa, Oceania, South America).
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What is the goal of the report?
The market report presents the estimated size of the Heavy Electric Vehicles and Industrial Equipment Charging market at the end of the forecast period. The report also examines historical and current market sizes.
During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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