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Increasing use of electric vehicles for public and goods transportation is a significant factor driving global heavy EVs and industrial equipment charging

VANCOUVER, BRITISH COLUMBIA, CANADA, September 21, 2022 /EINPresswire.com/ -- Increasing use of electric vehicles for public and goods transportation is a significant factor driving global heavy EVs and industrial equipment charging market revenue growth

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.

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.

The research study presents an industry-wide summary of the Heavy EVs and Industrial Equipment Charging market including drivers, constraints, technological advancements, product developments, limitations, growth strategies, growth prospects, etc. among others. The global Heavy EVs and Industrial Equipment Charging research report is an investigative study of the market that offers key statistical data with regards to market size, market share, revenue growth, and CAGR over the forecast period 2021-2028.

Market Size – USD 4,104.5 Million in 2020, Market Growth – at a CAGR of 12.9%, Market Trends – Advancements in technology

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Key companies profiled in the report include:

Delta Energy Systems, ElectReon, WAVE Inc., BP Chargemaster, WiTricity Corporation, Momentum Dynamics, Greenlots, Robert Bosch GmbH, Siemens AG, and ABB Ltd.

Heavy EVs and Industrial Equipment Charging Market Segmentation

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

Others

The global Heavy EVs and Industrial Equipment Charging market report covers the analysis of drivers, trends, limitations, restraints, and challenges arising in the Heavy EVs and Industrial Equipment Charging market. The report also discusses the impact of various other market factors affecting the growth of the market across various segments and regions. The report segments the market on the basis of types, applications, and regions to impart a better understanding of the Heavy EVs and Industrial Equipment Charging market.

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Key Questions Answered by the Report:

What is the outcome of SWOT analysis and Porter’s Five Forces analysis?

How is the competitive landscape of the Heavy EVs and Industrial Equipment Charging market?

Who are the key players in the industry?

What is the growth rate of the industry over the coming years?

What will be the valuation of the Heavy EVs and Industrial Equipment Charging Market by 2028?

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.

Regional Segmentation

North America (U.S., Canada)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

In conclusion, the report provides a qualitative and quantitative analysis of the Global Heavy EVs and Industrial Equipment Charging market market, including the global and regional analysis of the market. The study covers critical information and factual data about the Heavy EVs and Industrial Equipment Charging market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Heavy EVs and Industrial Equipment Charging market market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Heavy EVs and Industrial Equipment Charging market industry.

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Thank you for reading our report. The report can be customized based on the regions and countries. Kindly connect with us and our team will ensure the report is best suited to your needs.

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