Fortune Report Says Fast Chargers, Residential Installations And Post-COVID-19 Projections Show An Emerging Global Market Of $111.90 Billion For EV Charging Stations By 2028, Including $13.64 Billion For North America, Growing At CAGR Of 24.61%; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) SIRC Applies For $100 Million In Government Charging Station Grants
A September 2021 report by Fortune Business Insights projects the global electric vehicle EV Charging Station market — post COVID-19 — reaching $111.90 billion by 2028. This includes a $13.64 billion market in North America by 2028, growing at a CAGR of 24.61%. The numbers may be lower than the report by Market Research Future says that the electric vehicle charging station market is growing at a CAGR of 37.51% and will reach $142.47 billion by 2028 because the newer Fortune study acknowledges a ‘hiccup’ in period growth from the impact of COVID-19. It asserts that rapid growth will rebound in 2021 as vaccines become more prevalent. Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) SIRC through PLEMco is in the EV Charging Market and is an applicant for $100 million In Government Charging Station Grants.
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), 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).
Fortune Report Says Fast Chargers, Residential Installations And Post-COVID-19 Projections Show An Emerging Global Market Of $111.90 Billion For EV Charging Stations By 2028, Including $13.64 Billion For North America, Growing At CAGR Of 24.6https://www.fortunebusinessinsights.com/electric-vehicle-ev-charging-stations-market-1020581%; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) SIRC Applies For $100 Million In Government Charging Station Grants
The Fortune report found several interesting trends in the EV Charging Station industry. For example, it found that the quickest growth is in fast chargers. Electric vehicle owners and commercial businesses are willing to pay more for fast chargers than slow ones. Fast chargers dominate market share and can charge an EV in less than 30 minutes. Slow chargers in 2020 cost less but owned only a 16.24% market share because they can take 6-16 hours to charge fully. Slow chargers, the report finds, have low penetration and are growing slowly.
Another trend highlighted by the study is the growth of residential EV charging. Other studies have shown 80% of all charging is done at home. However, with the tailwind of government subsidies, that will mean more charging stations located in commercial and public areas in the future, it said. Some governments are spending upwards of 80% of the costs to build public charging stations. They are collaborating with oil and gas companies in planning these, are structuring deals along federally-built highways and even within national and state parks.
The “Electric Vehicle Charging Station Market,” by Market Research Future was more optimistic, but might not have factored in the ‘hiccup’ caused by the global epidemic. It concluded that the EV Charging Station industry is growing at a 37.51% CAGR rate from 2021-2028 to reach $142.47 billion. Fortune Report Says Fast Chargers, Residential Installations And Post-COVID-19 Projections Show An Emerging Global Market Of $111.90 Billion For EV Charging Stations By 2028, Including $13.64 Billion For North America, Growing At CAGR Of 24.61%; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) SIRC Applies For $100 Million In Government Charging Station Grants.
David Massey, chairman and CEO of SIRC, said on a recent live Q&A call via Discord that the company is optimistic about its some $100 million in grants it is currently applying for to build more EV Charging Stations. SIRC also said that PLEMco — SIRC’s acquired EV Charging Station company — has a pipeline of so many state and federal projects that it is overwhelmed. “PLEMco is very active.”
Fortune Report Says Fast Chargers, Residential Installations And Post-COVID-19 Projections Show An Emerging Global Market Of $111.90 Billion For EV Charging Stations By 2028, Including $13.64 Billion For North America, Growing At CAGR Of 24.61%; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) SIRC Applies For $100 Million In Government Charging Station Grants.
Massey explained to shareholders and the financial community of the live Q&A call that he talked with the company’s contact person who handles the grant process and learned that the outlook for SIRC being approved is good, but not confirmed yet.
SIRC added that the pending infrastructure deal is touching SIRC and its customers on multiple levels. He explained that its impact affects everything, from an extension on tax credits for solar installations, to the benefits for EV Charging Stations. Fortune Report Says Fast Chargers, Residential Installations And Post-COVID-19 Projections Show An Emerging Global Market Of $111.90 Billion For EV Charging Stations By 2028, Including $13.64 Billion For North America, Growing At CAGR Of 24.61%; Solar Integrated Roofing Corp.’s (OTC PINK: SIRC) SIRC Applies For $100 Million In Government Charging Station Grants.
In its most recent financial filing, SIRC reported more record growth — this time $10.5 million in July 2021. Massey said he anticipates a large revenue total in August as well.
Learn more about SIRC at https://www.solarintegratedroofing.com/corporate-governance/leadership/.
Source: Stock Market Press
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