Bulletin
Investor Alert

Jan. 19, 2022, 10:16 a.m. EST

New Study Says EV Charging Station Industry Will Reach $43 Billion By 2030 As Vehicle-To-Grid And Wireless Charging Will Propel Market Growth; Solar Integrat-ed Roofing Corp. (otc pink:SIRC) Through PLEMCo. Subsidiary Fights For Market Share

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    SunRun Inc. (RUN)
  • X
    Blink Charging Co. (BLNK)
  • X
    General Motors Co. (GM)

or Cancel Already have a watchlist? Log In

Jan 19, 2022 (Stock Market Press via COMTEX) -- A new study by Allied Market Research says that the EV Charging Station Market will reach $42.62 billion by 2030 , propelled by developments such as vehicle-to-grid and wireless charging. The 26.2% CAGR growth over the nine-year study period will open up a fast-growing and lucrative opportunity. For Solar Integrated Roofing Corp.'s (OTC PINK: SIRC) PLEMCo. Subsidiary the report is great news for future industry growth.

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. /zigman2/quotes/205021014/composite RUN +1.96% , Blink Charging Co. /zigman2/quotes/205311237/composite BLNK -7.76% , Tesla, Inc. (NASDAQ: TSLA), GM /zigman2/quotes/205226835/composite GM -5.96% , ChargePoint (NYSE: CHPT), EVgo (NASDAQ: EVGO), SolarEdge Technologies, Inc. /zigman2/quotes/207754270/composite SEDG -0.23% , First Solar, Inc. /zigman2/quotes/209356097/composite FSLR -0.06% , SunPower (NASDAQ: SPWR), Gibraltar Industries, Inc. /zigman2/quotes/204241548/composite ROCK -0.15% , Spartan Acquisition Corp. II (NYSE: SPRQ). and Canadian Solar Inc. (NASDAQ: CSIQ).

New Study Says EV Charging Station Industry Will Reach $43 Billion By 2030 As Vehicle-To-Grid And Wireless Charging Will Propel Market Growth; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Fights For Market Share

The Allied Market Research report says that the electric car industry has been hampered by supply chain shortages, especially 'chips,' but that longer term the industry will recover and continue its growth.

For EV Charging Station installers like SIRC's PLEMCo., vehicle-to-grid and wireless charging are new developments and will create more opportunities for installers in the future. New Study Says EV Charging Station Industry Will Reach $43 Billion By 2030 As Vehicle-To-Grid And Wireless Charging Will Propel Market Growth; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Fights For Market Share.

The report details plant shut downs and parts shortages in the U.S. and Europe. But Allied predicts these issues will be short-lived and electric cars will succeed.

In 2020, plug-in charging systems won a 98% share of the global electric charging market, it says. But it forecasts that wireless charging system segment will achieve the fastest CAGR of 28.8% during the forecast period. Speed, allied predicts, will win the day -- and the market.

Similarly, level 3 fast charging is seen as winning a 34.8% top CAGR from 2021-2030. New Study Says EV Charging Station Industry Will Reach $43 Billion By 2030 As Vehicle-To-Grid And Wireless Charging Will Propel Market Growth; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Fights For Market Share.

Asia-Pacific will be the leading market in the EV Charging Stations, followed by Europe and then the U.S., it predicts. Yet, North America eventually wins the electric vehicle and charging race with a 30% CAGR through 2030 and the entire forecast period.

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.

The Federal government is providing tailwinds under its newly-passed 'Infrastructure' Biden administration bill. But that $1 trillion bill with incentives of about $7.5 billion for the EV industry cannot on its own force consumer sales. Too many simply want more EV Charging Stations.

If Biden is to hit his goal of a government-owned fleet of 500,000 electric vehicles -- and hit 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.

The EV Charging Station industry, supporting the electric car industry, is seen as a sweet spot in the future. GM's goal is $280 billion by 2030 in electric cars, as it partners with EV charging company EVgo (NASDAQ: EVGO) for the installation of fast chargers . EVgo may have the inside track to install 2,500 chargers for GM by the end of 2025, but it spells opportunities for others.

New Study Says EV Charging Station Industry Will Reach $43 Billion By 2030 As Vehicle-To-Grid And Wireless Charging Will Propel Market Growth; Solar Integrated Roofing Corp. (OTC PINK: SIRC) Through PLEMCo. Subsidiary Fights For Market Share

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

Source: Stock Market Press

Join Stock Market Press' newsletter for the latest in IPO, market commentary and company profiles.

Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.

Contact:

Stock Market Press
110 Wall St.
New York, NY 10005 info@stockmarketpress.com https://twitter.com/PressStock

Safe Harbor Statement:

Statements in this news release may be "forward-looking statements." Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.

See Stock Market Press disclaimer: http://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press

COMTEX_400813358/2617/2022-01-19T10:16:15

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/205021014/composite
US : U.S.: Nasdaq
$ 22.39
+0.43 +1.96%
Volume: 7.66M
May 18, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.61 billion
Rev. per Employee
$155,578
loading...
/zigman2/quotes/205311237/composite
US : U.S.: Nasdaq
$ 15.70
-1.32 -7.76%
Volume: 1.11M
May 18, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$727.46 million
Rev. per Employee
$143,976
loading...
/zigman2/quotes/205226835/composite
US : U.S.: NYSE
$ 35.83
-2.27 -5.96%
Volume: 19.26M
May 18, 2022 4:00p
P/E Ratio
5.95
Dividend Yield
0.00%
Market Cap
$55.55 billion
Rev. per Employee
$831,267
loading...
/zigman2/quotes/207754270/composite
US : U.S.: Nasdaq
$ 238.80
-0.55 -0.23%
Volume: 1.00M
May 18, 2022 4:00p
P/E Ratio
76.96
Dividend Yield
N/A
Market Cap
$13.26 billion
Rev. per Employee
$558,390
loading...
/zigman2/quotes/209356097/composite
US : U.S.: Nasdaq
$ 65.36
-0.04 -0.06%
Volume: 1.16M
May 18, 2022 4:00p
P/E Ratio
32.42
Dividend Yield
N/A
Market Cap
$6.97 billion
Rev. per Employee
$518,134
loading...
/zigman2/quotes/204241548/composite
US : U.S.: Nasdaq
$ 39.67
-0.06 -0.15%
Volume: 322,899
May 18, 2022 4:00p
P/E Ratio
16.59
Dividend Yield
N/A
Market Cap
$1.30 billion
Rev. per Employee
$677,910
loading...

This Story has 0 Comments
Be the first to comment

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.