Solar-Powered Vehicle Industry report is helpful for future strategy development, and to know about Market Drivers, Restraints, Opportunities, And Global market size, share, Growth, Trends, key players forecast to 2025.

Sunlight is the primary or main source of energy for solar-powered vehicles, where solar panels are used to generate electricity, which is then utilized to run vehicle. Growing competition amongst solar-powered vehicle manufacturers, stringent environment regulations, and the government support regarding solar-based electric vehicles (EVs) has encouraged manufacturers to design the system as per the government regulations across different regions, which is considered as one of the key factors responsible for the growth of this market. Furthermore, the rising uses of lithium-ion battery in the EVs is likely to drive the solar-powered vehicle market during the study period.

The increasing production and sales of battery and hybrid electric vehicle in countries such as China, Germany, Norway, and Japan drive the growth of solar-powered vehicle market. Furthermore, technological advancements, growing awareness of the key manufacturers for reducing the carbon footprints, low maintenance cost of this system, and the incentives and subsidies provided by federal government of different countries for the setup of solar-based power plants globally, boost the market growth, further.

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Key Players

The major players considered for the study of global solar-powered vehicle market are Guangzhou Jcar Industrial Company Ltd. (China), Hanergy Holding Group (China), Venturi Eclectic (France), Sono Motors GmbH (Germany), Ford Motor Company (US), Mahindra & Mahindra (India), Cruise Car (US), The Solar Electric Vehicle Company (US), Kiira Motors Corporation (KMC) (Uganda), and Immortus (Australia).

Market Research Analysis

In terms of region, the global market for solar-powered vehicles is segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is estimated to hold the highest market share during the forecast period owing to the growing production and sales of electric vehicles from China and Japan. Moreover, the climatic conditions of countries such as China and India, both receive an average of more than 290 days of sunlight, which is suitable for these solar-based vehicles. Hence, the demand for solar cars is growing in China and India.

North America is estimated to grow at a significant rate in solar-powered vehicle market during forecast period owing to the growing demand for environmentally-friendly vehicles and the presence of key playes such as Ford Motor Company, Cruise Car, and The Solar Electric Vehicle Company.

In Europe, Germany is the largest solar-powered vehicle market, whereas the UK, France, Italy, Spain, Belgium, and the Netherlands are the other major countries in Europe that are also contributing towards the growth of this market. In the Middle East & Africa, the UAE, Iran, and South Africa are major solar-powered vehicle markets, whereas in Latin America, Brazil and Argentina play an important role in the growth of this market.

Scope of the Report

This study provides an overview of the global solar-powered vehicle market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the rest of the world. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global solar-powered vehicle market by solar panel, battery type, propulsion, vehicle type, and region.

By Solar Panel: Monocrystalline Solar Panel, Polycrystalline Solar Panel

By Battery Type: Lithium-Ion Battery, Lead-Acid, Lead-Carbon

By Propulsion: Battery Electric Vehicle, Hybrid Electric Vehicle

By Vehicle Type: Passenger Car, Commercial Vehicle

By Regions: North America, Asia-Pacific, Europe, Rest of the World

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Table Of Contents

1. Executive Summary

2. Scope Of The Report

2.1. Market Definition

2.2. Scope Of The Study

2.2.1. Definition

2.2.2. Research Objective

2.2.3. Assumptions

2.2.4. Limitations

2.3. Research Process

2.3.1. Primary Research

2.3.2. Secondary Research

2.4. Market Size Estimation

2.5. Forecast Model

3. Market Landscape

3.1. Porter’s Five Forces Analysis

3.1.1. Threat Of New Entrants

3.1.2. Bargaining Power Of Buyers

3.1.3. Threat Of Substitutes

3.1.4. Segment Rivalry

3.1.5. Bargaining Power Of Buyers

3.2. Value Chain/Supply Chain Analysis

4. Market Dynamics

4.1. Introduction

4.2. Market Drivers

4.3. Market Restraints

4.4. Market Opportunities

4.5. Market Trends

5. Global Solar-Powered Vehicle Market, By Solar Panel

5.1. Introduction

5.2. Monocrystalline Solar Panel

5.2.1. Market Estimates & Forecast, 2019–2025

5.2.2. Market Estimates & Forecast, By Region, 2019–2025

5.3. Polycrystalline Solar Panel

5.3.1. Market Estimates & Forecast, 2019–2025

5.3.2. Market Estimates & Forecast, By Region, 2019–2025

Continued…….

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