Rising interest in renewable and sustainable energy resources and systems are some key factors driving revenue growth of the global solar vehicle market.
The Global Solar Vehicle Market Research Report 2021 published by Emergen Research offers a critical overview of the overall market with regards to the market size, market share, market volume, price analysis, global reach, and financial standing.
This steady growth can be attributed to increasing awareness and concerns regarding environmental degradation due to impact of air pollution and depleting fossil fuel resources. In addition, initiatives focused on shifting away from non-renewable and more eco-friendly energy resources is another key factor driving market growth.
The global solar vehicle market size was USD 290.7 Million in 2020 and is expected to reach USD 2,899.7 Million in 2027 and register a robust double-digit CAGR over the forecast period, according to latest analysis by Emergen Research.
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Cue Competitors:
The research Solar Vehicle report also offers a detailed analysis of the market status, market definition and overview, market share, current and future trends, market drivers and constraints, opportunities and limitations, risks, sales network and distribution channels, details on entry barriers, and market growth prospects.
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.
Precondition Underline From the Report
- A three-year partnership was signed between Centrica and Volkswagen. The partnership is expected to deliver domestic charging points for new electric vehicle owners.
- 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.
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Segmental Analysis:
The report provides an in-depth analysis of the key competitors operating in the industry. The Solar Vehicle report offers insights into their product portfolio, business overview, financial standing, market position, revenue generation, market share and market size, and production and manufacturing capacity along with pricing analysis.
- 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
Regional Analysis:
The Solar Vehicle report mainly focuses on the key market regions where the market is spread, including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The report further focuses on the key segments of the market, such as product types, application spectrum, technology, end-user industries, among others.
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Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Solar Vehicle Market
- Critical understanding of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
Table Of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary
1.4.2. Secondary
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Solar Vehicle Market Segmentation & Impact Analysis
4.1. Solar Vehicle Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Stringent government regulation regarding greenhouse gas emissions
4.2.2.2. Increasing purchasing power of consumers in developing economies
4.2.2.3. Increase in demand for energy-efficient sources
4.2.3. Market restraints analysis
4.2.3.1. High cost of the advanced solar panels and batteries
4.2.3.2. Lower operational efficiency of the solar vehicles
4.2.3.3. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Solar Vehicle Market By Solar Panel Insights & Trends, Revenue (USD Million)
5.1. Solar Panel Dynamics & Market Share, 2019 & 2027
5.1.1. Polycrystalline
5.1.2. Monocrystalline
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