Increasing Use of E-mobility Primarily Pushing Adoption of
Peer-to-Peer Electric Vehicle Charging Technologies
Rockville, Md., May 21, 2024
/PRNewswire/ -- According to a recent market research report
by Fact.MR, the global Peer-To-Peer Electric Vehicle Charging
Market is projected to witness substantial growth, with an
estimated value of $1.5
billion in 2024. By 2034, this market is anticipated to
surge to a value of $7.9
billion, reflecting a robust compound annual growth rate
(CAGR) of 18% from 2024 to 2034.
The growing popularity of electric vehicles coupled with
government regulations on the use of renewable energy is driving
global peer-to-peer electric vehicle charging market growth.
Integration of advanced technologies such as bidirectional
charging, the Internet of Things, data analytics, on-site energy
resources, and smart energy management apps are contributing to the
sales growth of advanced peer-to-peer electric vehicle charging
systems. Through the adoption of advanced peer-to-peer electric
vehicle charging technologies, people can use electric vehicles
(EVs) as distributed energy storage systems and utilize the energy
whenever needed.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7153
Advancements in battery and charging technologies are
contributing to the transformation of the automotive sector.
Ongoing developments in battery technology are increasing electric
vehicle ownership, further leading to higher demand for innovative
chargers. The growing adoption of autonomous vehicles and shared
mobility is also increasing the demand for advanced peer-to-peer
electric vehicle charging solutions.
Key Takeaways from the Market Study:
- Global demand for peer-to-peer electric vehicle charging
systems is foreseen to rise at a CAGR of 18% through 2034.
- The United States market is
set to capture 45.6% of the North American market share by
2034.
- Sales of peer-to-peer electric vehicle charging systems in
Japan are projected to reach
US$ 603.87 million by 2034.
- Demand for residential peer-to-peer electric vehicle charging
technologies is forecasted to reach a market value of US$ 4.4 billion by 2034.
"Introduction of cost-effective and high energy storage
lithium iron phosphate (LFP) batteries are complementing
peer-to-peer electric vehicle charging market
growth," says a Fact.MR analyst.
Key Companies Profiled in This Report:
- EVBox
- Webasto Group
- Enphase
- EV Meter
- Greenlots
- ChargePoint Inc.
- Innogy
- Power Hero
- has•to•be gmbh
- Enel X
Get Customization on this Report for Specific Research
Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7153
Competitive Analysis:
The rising trend of sustainability and renewable energy usage is
generating lucrative opportunities for peer-to-peer electric
vehicle charging product manufacturers. Established players and new
companies entering the global market are set to earn high profits
due to the increasing adoption of electric vehicles worldwide.
Industry giants are adopting strategies such as geographical
expansion, collaborations with research institutions, and mergers
& acquisitions to boost their product folio and revenue
shares.
- In February 2022, ChargePoint
Inc. announced a partnership with Sonepar to deploy charging
stations in France. Through this
partnership, the company is focusing on increasing the number of
charging points in France. In
addition, this partnership is helping Sonepar strengthen its
position across France.
- In February 2022, Enphase Energy
Inc. initiated a partnership with Swell Energy Inc. Through this
partnership, Enphase Energy Inc. is increasing its presence in
states such as New York,
California, and Hawaii.
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of
the global peer-to-peer electric vehicle charging market,
presenting historical demand data (2019 to 2023) and forecast
statistics for the period (2024 to 2034).
The study divulges essential insights on the market based on
charger type (level 1, level 2) and application (residential,
commercial), across seven major regions of the world (North America, Latin
America, Western Europe,
Eastern Europe, East Asia, South
Asia & Pacific, and MEA).
Explore More Related Studies Published by Fact.MR
Research:
Electric Car Battery Charger Market is estimated to
surge at a CAGR of 16% and increase rapidly from its current
valuation of $2.5 billion to
$11 billion by the end of 2032.
Electric Vehicle (EV) Battery Market is projected to
expand at a prolific CAGR of 18.5% and reach a valuation of
$347 billion by the end of 2033, up
from $63.55 billion in 2023.
Energy Storage Systems Market stands at $45.1 billion in 2022 and is projected to reach a
valuation of US$ 73.8 billion by the
end of 2031.
Battery Management IC Market poised to Reach
US$ 3.5 Billion by 2034, Driven
by Demand for Smart Energy Solutions.
About Fact.MR:
Fact.MR is a distinguished market research company renowned
for its comprehensive market reports and invaluable business
insights. As a prominent player in business intelligence, we
deliver deep analysis, uncovering market trends, growth paths, and
competitive landscapes. Renowned for its commitment to accuracy and
reliability, we empower businesses with crucial data and strategic
recommendations, facilitating informed decision-making and
enhancing market positioning. With its unwavering dedication to
providing reliable market intelligence, FACT.MR continues to assist
companies in navigating dynamic market challenges with confidence
and achieving long-term success. With a global presence and a team
of experienced analysts, FACT.MR ensures its clients receive
actionable insights to capitalize on emerging opportunities and
stay ahead in the competitive landscape.
Contact:
S.N. Jha
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Website: https://www.factmr.com/
Follow Us: LinkedIn | Twitter | Blog
View original
content:https://www.prnewswire.com/news-releases/peer-to-peer-electric-vehicle-charging-market-projected-to-reach-7-9-billion-by-2034--factmr-302151381.html
SOURCE Fact.MR