Solar Carport Charging Station Market Emerging Technological Growth, Future Growth and Business Opportunities 2027

Solar Carport Charging Station Market Outlook – 2027

Solar carport charging station is a solar system mounted on carports or canopies for homes and businesses that make effective use of unused outside and parking lot space for power generation. These grid-tied solar systems can help offset power use from electric vehicle car charging. The electric vehicle charging system can have up to 14 kW solar power, which is further used for homes, office buildings & business parks, apartment buildings, condominiums, and multi-unit dwellings. Therefore, increase indemand for electric vehicles is expected to boost the demand for solar carport charging stationsover the forecast period.

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COVID-19 scenario analysis:

The coronavirus outbreak has heavily impacted the manufacturing industry's Original Equipment Manufacturer (OEM), and parts suppliers have yet to return to full production capacity.

Due to nationwide lockdown, companies have faced consequent delays in delivery that impact the market at multiple levels from postponed new car model launches, shattered supply chains, financially drained SMEs, and dampened vehicle sales.

The global automobile sector has faced the most challenges duringthe COVID-19 pandemic.For instance, shutting down of production houses,overflowinginventories,and diminishing demand have been witnessed.

Automobiles makers, consumer electronics, and pharmaceuticals in various countries, especially rely on China and other developingcountries near them, for the supply of several raw materials and parts such ascompressors, electronic components, and various sensors.

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Top impacting factors:Market scenario analysis, trends, drivers, and impact analysis

Increase in demand for electric vehicles and the government's encouragement to shift toward e-vehicle areexpected to spur the demand for solar carport charging stationsover the forecast period. Moreover, the high cost associated with electric vehicle charging equipment is a major factor that restricts the market growth. Furthermore, deployment of vehicle-to-grid (V2G) technology is expected to offer lucrative opportunities for the market growth overthe forecast period.

The solar carport charging station market trends are as follows:

Increase indemand for electric vehicles
Awareness about the damage caused to the environment and rapid increase in usage of combustion engines are the major effects that are witnessedto curb environmental degradation. Therefore, the e-vehicle market is considered to be the future of the automobile industry as many customers are shifting to electric vehicles.Their economical and eco-friendly nature is expected to further boostthe solar carport charging station market over the forecast period.

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Government encouragement to shift toward E-vehicle

To ensure that more people buy electric vehicles, governments across the globe have introduced various subsidies in the form of exemption from paying taxes related to vehicles. Governments play a major role as they mandate policies to adopt electric vehicles and develop charging infrastructure along with spreadawareness among people about the advantages of using these vehicles. Therefore, this has tremendously driventhe market growth and is expected to continue over the forecast period.

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