Solar Vehicle Market Growth, Revenue, Size, Share, Trends, Top Key Players, Applications, Types, Product and Industry Analysis 2027
OEMs are increasingly investing in production of more efficient, advanced, and cost-effective solar vehicles to meet the growing demand and interest in such energy efficient vehicles. High initial cost currently however is a major factor impacting demand for advanced solar-powered vehicles, and this is expected to restrain market growth to a certain extent going forward.
The Global Solar Vehicle Market report offers an elaborate analysis of the different elements of the industry, such as product development and technological advancements, product types, applications, and major expansion strategies undertaken by prominent companies. The assessment has been done based on primary and secondary research with a special focus on technological advancements, prominent industry players and suppliers, and distributors operating in the industry.
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Some Key Highlights in the Report
- The monocrystalline segment accounted for largest revenue share among the solar panel type segments in 20 High efficiency of monocrystalline panels due to high purity of monocrystalline silicon is expected to continue to drive demand for monocrystalline solar panels in the production of solar vehicles.
- The lithium-ion segment revenue is expected to expand at rapid CAGR of 39.5% during the forecast period. The high energy density, good high-temperature performance, excellent specific energy, and low self-discharge rate of lithium-ion batteries are properties driving revenue growth of the lithium-ion batteries segment.
- The passenger cars segment accounted for a significantly high revenue share in the solar vehicle market in 2020. Increasing investment by OEMs in research and development for production of more cost-effective solar vehicles is a factor driving demand for solar-powered passenger cars.
- Key players in the market include Sono Motors, Volkswagen, Toyota, Ford, Mahindra & Mahindra, Nissan, General Motors, Fiat Chrysler Automobiles, Venturi Automobiles, and Hanergy Thin Film Power Group.
Key geographical areas:
North America, Europe, Asia Pacific, Latin America, Middle East & Africa
The Solar Vehicle market intelligence report talks about the market size, share, value, and production cost analysis over the forecast period 2021-2027.
- Solar Panel Type Outlook (Revenue, USD Million; 2020–2027)
- Polycrystalline
- Monocrystalline
- Battery Type Outlook (Revenue, USD Million; 2020–2027)
- Lead Carbon
- Lithium Ion
- Lead Acid
- Nickel Metal Hydride Batteries
- Vehicle Type Outlook (Revenue, USD Million; 2020–2027)
- Commercial Vehicles
- Passenger cars
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Global Solar Vehicle Market Report – Table of Contents:
- Chapter 1 includes the global Solar Vehicle market introduction, followed by the market scope, product offerings, growth opportunities, market risks, driving forces, and others.
- Chapter 2 broadly categorizes the Solar Vehicle market on the basis of geography, and determines the sales, revenue, and market shares of each region over the estimated period.
- Chapter 3 elaborates on the competitive outlook of the Solar Vehicle market, focusing on the major manufacturers and vendor landscape.
- Chapter 4 exhaustively studies the key manufacturers of the Solar Vehicle industry, along with their anticipated sales and revenue shares.
- Chapters 5 includes market segmentation based on product type, application range, and market players.
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