Analysts Predict Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 And New Study Says Global EV Batteries Market Will Grow By 6.9% CAGR To Reach $33.26 Billion By 2026; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Major Gain As Reinforcing Electric Car Growth Globally

Analysts Predict Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 And New Study Says Global EV Batteries Market Will Grow By 6.9% CAGR To Reach $33.26 Billion By 2026; Solar Integrated Roofing Corp.(OTC PINK: SIRC) Sees Major Gain As Reinforcing Electric Car Growth Globally

Posted March 25, 2022

In NASDAQ: BLNK, NASDAQ: CSIQ, NASDAQ: EVGO, NASDAQ: FSLR, NASDAQ: RIVN, NASDAQ: ROCK, NASDAQ: RUN, NASDAQ: SEDG, NASDAQ: SPWR, NASDAQ: TSLA, NASDAQ:CSIQ, NYSE: CHPT, NYSE: F, NYSE: GM, NYSE: SPRQ, NYSE: UN, OTC PINK: SIRC

Every way you look at it, electric car market share is seen exploding in the U.S. to 10% of all new car sales by 2525 and now a new study by report linker projects that the electric vehicle car battery global market is growing at a 6.9% CAGR and will reach $33.26 billion by 2026. To Solar Integrated Roofing Corp. (OTC PINK: SIRC), an installer of EV Charging Stations through subsidiary PLEMCo., the latest estimates for growth reinforce their Company strategy of refocusing on charging electric vehicles.

stockmarketpress.com features specialized coverage of related stocks in the solar, roofing, EV charging stations and battery charging energy industry such as Solar Integrated Roofing Corp. (OTC PINK: SIRC), Sunrun, Inc. (NASDAQ: RUN), Blink Charging Co. (NASDAQ: BLNK), Tesla, Inc. (NASDAQ: TSLA), GM (NYSE: GM), ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. (NASDAQ: SEDG), First Solar, Inc. (NASDAQ: FSLR), SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. (NASDAQ: ROCK), Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

Analysts Predict Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 And New Study Says Global EV Batteries Market Will Grow By 6.9% CAGR To Reach $33.26 Billion By 2026; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Major Gain As Reinforcing Electric Car Growth Globally

The new report by report linker finds that electric car batteries are growing fast — at a 6.9% CAGR to help them become a global market of $33.26 billion by 2026. That prediction is underscored by the bold projection by Dan Ives, Equity Analyst at Wedbush Securities, who believes electric cars will reach 10% market share of all OEM car sales by 2025 in the U.S. versus only a 4% market share today. If he’s right, it represents a great long term opportunity for EV Charging Station installers like Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) PLEMCo. subsidiary.

Ives said this is why he is so bullish: “Ford (NYSE: F), General Motors (NYSE: GM), Rivian (NASDAQ: RIVN) and others follow Tesla (NASDAQ: TSLA) aggressively going after the EV market.” Analysts Predict Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 And New Study Says Global EV Batteries Market Will Grow By 6.9% CAGR To Reach $33.26 Billion By 2026; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Major Gain As Reinforcing Electric Car Growth Globally.

His prediction is reinforced by a new report, ‘Electric Vehicle (EV) Batteries Global Market Report 2022,’ by Report Linker. It calculates a $33.26 billion global market for electric car batteries by 2026. That tells SIRC it is right to refocus its business of the growing EV Charging Station industry that will grow as electric cars gain share of OEM car sales internationally.

Ives acknowledges that the US is lagging China and Europe in market share and embrace of EV vehicles. But he believes America will rapidly make up share as electric vehicle model are launched. Also, as potential buyers see more EV Charging Stations on the road and in high profile charging locations near auto dealerships, prominent retail stores and even tire dealerships, their range anxiety fears will be addressed — and these potential buyers will want to try electric vehicles.

The newest report echoes his regional projections, documenting that the Asia-Pacific market is the single largest worldwide through 2021. Second is Western Europe, if finds, also reinforcing Ives’ conclusions.

Eventually, they both say, North America will catch up in electric vehicle market share as potential electric car buyers become more comfortable with the concept. Analysts Predict Electric Cars Will Reach 10% Market Share Of OEM Sales In US By 2025 And New Study Says Global EV Batteries Market Will Grow By 6.9% CAGR To Reach $33.26 Billion By 2026; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Sees Major Gain As Reinforcing Electric Car Growth Globally.

One major issue is range anxiety for drivers fearful of running out of charge. In 2021, electric cars grow in range on a single charge to about 400 miles. As range anxiety becomes less of a factor in the purchase decision, electric car sales are expected to soar worldwide, reports say.

Here are some more positives:

The U.S. federal government is committed to growing electric cars from 4% of OEM market share today to some 50%. It will spend money to do this on tax rebates for EV car purchasers, grants to EV car companies for new plants and union facilities and a nationwide network of EV Charging Stations.
Tesla (NASDAQ: TSLA) has shown that making electric vehicles and marketing them can be done at a profit. It makes EVs in China, California, Austin, Texas and now Germany.
Wall Street investors who missed the Tesla (NASDAQ: TSLA) gold mine, now want in. That’s a driving reason why the recent IPO for Rivian (NASDAQ: RIVN) was so successful. At a $70 billion valuation, Rivian hasn’t shipped many cars to date, but pre-orders are topping their ability to produce.
Enter Amazon, which has already pre-ordered some additional 100,000 Rivian electric delivery vans.
Now enter the usual suspects: Ford (NYSE: F), General Motors (NYSE: GM) Toyota (NYSE: TM), Nissan and all the European brands,such as BMW, Volkswagen, Mercedes, and others. Even Toyota — the slowest to join electric car believers — is now sold.
OEM electric car makers are increasingly partnering with EV Charging Station installers. This is a significant opportunity for EV Charging Station companies to brand with OEM car makers.
Research studies cannot keep up with the growth. Electric charging stations are projected to reach $111.90 Billion by 2028 with a 30.26% CAGR jump, says Fortune Business Insights.

EV Charging Station installers, like SIRC’s PLEMCo., see the opportunities ahead. As a result, they are bidding for government RFP contracts. They may be slow in coming, but they are large. SIRC is also an applicant for some $80 million in new government federal dollars to help build more EV Charging Stations.

SIRC’s other advantage is that its installers are already performing solar work in the home — where some 80% of EV charging takes place, the government says.

If Biden is to hit his goal of a government-owned fleet of 500,000 electric vehicles — and achieve 2030 carbon pollutant-reduction goals — he will need to fund the building of more EV Charging Stations. That’s great news for installers like SIRC and its PLEMCo. subsidiary.

Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.

Source: Stock Market Press

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Nitin Harlalka

Nitin Harlalka is a Stock Market Press contributor who has covered financial market for close a decade. With a graduate degree in Economics, Nitin has been a freelance stock market and business journalist for a range of publications. Most recently, he has covered emerging industries such as cannabis and blockchain.