The global electrified road
for electric vehicle charging market is anticipated to register growth at a
robust rate in the forecast period, 2023-2027. The market growth can be
attributed to the increased focus of government on building electrified roads
to reduce the requirement of installing new electric vehicle charging
infrastructure to boost the adoption of electric cars. As carbon emissions
levels are rising at a substantial rate, government agencies across the world
are enforcing regulations to cut the greenhouse gas emissions by promoting
electrification in their countries. With the growing adoption of electric
vehicles, the carbon emissions can be lowered significantly. Hence, government
incentives on the purchase of electric vehicles, decreased vehicle prices,
enhanced vehicle range and capabilities, and growing awareness among consumers
regarding vehicular pollution are contributing to the rapid adoption of
electric vehicles across the world. However, electric vehicle charging remains
a key concern for the users. Therefore, now electrified roads are being built
to solve the problem of lack of public electric vehicle charging
infrastructure, one of the major reasons restricting electric vehicle adoption.
Electrified road for electric vehicle charging is an innovative method aimed at
recharging the batteries of cars and trucks when they are on the move. The
electric highways can make charging faster and travel longer for electric vehicle
drivers. Electric road system (ERS) is a system that facilitates power exchange
between an electric vehicle and the road that it is travelling on. On the basis
of how charging takes place, the electrified roads are majorly divided into
three categories such as overhead conductive, conductive power transfer from
the road, and inductive power transfer from road.
Growing Need to Expand
Electric Vehicle Infrastructure to Boost Market Growth
Electric vehicles are
considered the best option to replace traditional ICE (internal combustion
engine) vehicles. In near future, the electric vehicle adoption is expected to
grow significantly, with the introduction of electric vehicles equipped with
batteries with high capacity and addition of more Electric Vehicle charging
stations. However, vehicles with big sizes such as electric trucks required to
be recharged more frequently. Hence, electrified roads serve as the perfect
solution for electric vehicle drivers who need to cover long range as they would
no longer have to recharge batteries from time-to-time. The “dynamic charging”
with electrified roads is anticipated to replace the existing charging methods
that relatively take more time and require a power source to plug in the
vehicle. With inductive charging technology, the cost of constructing 1 km of
electrified road would require approx. USD1 million, 50 times less than
constructing an urban tram line.
Technological Innovations Fuel
the Expansion of Electrified Roads
The dynamic (in-motion)
wireless power transfer (DWPT) is a novel technology. Hence, a number of
research institutions are currently analyzing and developing the technology, in
areas such as electromagnetic design optimization techniques, magnetic
materials, power electronic topologies, etc. Innovation in areas such as
batteries, electromagnetic emissions, alignment techniques are also required to
make electrified roads mainstream in coming years. Hence, private players,
government are research institutes are collaborating to pioneer wireless
charging infrastructure technology and enhance roadway electrification.
However, the deployment of
DWPT infrastructure would require significant investments by market players and
increased collaboration for the government.
Download Free Sample Report
Market Segmentation
The
global electrified road for electric vehicle charging market is segmented by regional
distribution. Based on regional analysis,
the market is divided into North America, Europe, Asia Pacific, Middle East and
Africa, and South America. The Europe region is expected to register the
fastest growth in the electrified road for Electric Vehicle charging market
during the forecast period, owing to increased government initiatives by the
government for the construction of electrified roads in the region. The
United States is anticipated to hold a significant market share in the coming
years due to greater adoption of electrified road technologies in the region.
Company Profile
Siemens AG, Scania AB,
Elonroad, Vattenfall, Sytner Group Limited are the market players operating in
the global electrified road for Electric Vehicle charging market growth.
|
Attribute
|
Details
|
|
Estimated Year
|
2022
|
|
Forecast Period
|
2023 – 2027
|
|
Quantitative Units
|
Revenue in USD Million, CAGR for 2022-2027
|
|
Report coverage
|
Revenue forecast, company share, competitive landscape, growth
factors, and trends
|
|
Regional scope
|
North
America, Europe, Asia Pacific, Rest of the world
|
|
Key companies profiled
|
Siemens AG, Scania AB, Elonroad, Vattenfall, Sytner Group
Limited
|
|
Customization scope
|
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope.
|
|
Pricing and purchase options
|
Avail customized purchase options to meet your exact research
needs. Explore purchase options
|
|
Delivery Format
|
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/Word format on special request)
|
Report Scope:
In this report, global electrified
road for Electric Vehicle charging market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
- Electrified Road for Electric
Vehicle Charging Market, By Region:
o North America
o Europe
o Asia Pacific
o Rest of the world
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in global electrified road for Electric
Vehicle charging market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
Global Electrified Road for Electric Vehicle Charging Market is an
upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]