The global demand for Solar Vehicles Market is presumed to reach the valuation of nearly USD XXX MN by 2026 from USD XXX MN in 2019 with a CAGR of X.XX% under the study period of 2020 - 2026. Whereas with regards to volume, the market was calculated XXX Units in 2019 and foreseen to touch XXX Units by 2026 with a CAGR of X.X% during 2020-2026.
By Vehicle Type
Solar vehicles refers to an electric vehicles that run on solar energy by utilizing PV cells to covert energy from solar to electricity. These vehicles have either monocrystalline or polycrystalline panels and are available in two kinds: hybrid and electric. The hybrid vehicles run on an internal combustion engine (ICE) and an electric motor. Whereas, the electric variants run only on electric motors and store power in rechargeable batteries.
Rising environmental awareness across the globe is considered as a primary factor to drive the market growth. Governments are actively focusing on reducing vehicle pollution. Therefore, many automobile manufacturers are emphasizing on developing sustainable vehicles that reduce the overall dependence on fossil fuels and can operate on clean and renewable sources of energy. In addition to this, the rising adoption of EVs is also propelling the demand. Apart from this, the growing demand for fuel-efficient automobiles and rising expenditure on R&D are projected to drive the market further.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level.
Additionally, these tools also give inclusive assessment of each application/product segment in the global market of solar vehicles.
The entire solar vehicles market has been sub-categorized into propulsion type, vehicle type, battery type, solar panel type, charging type. The report provides an analysis of these subsets with respect to the geographical segmentation. This research study will keep marketer informed and helps to identify the target demographics for a product or service.
By Propulsion Type
By Battery Type
- Passenger Cars
- Industrial Utility Vehicles
- Commercial Vehicles
By Solar Panel Type
By Charging Type
- Slow Charging
- Fast Charging
This section covers regional segmentation which accentuates on current and future demand for solar vehicles market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand for individual application segment across all the prominent regions.
Europe Solar Vehicles Market By Revenue (USD MN)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the solar vehicles market include Cruise Car, Ford, General Motors, Hanergy Thin Film Power Group, Jinko Solar, Lightyear, Mahindra & Mahindra, Nissan, Solar Electric Vehicle Company, Sono Motors, Toyota, Trina Solar, Volkswagen Ltd.. This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.