Global Solar Vehicle Market, By Component (Ev Battery Cells and Packs, On-Board Charger, Infotainment System, Instrument Cluster), Industry Trends (Electric Taxi, Robo-Taxi, Light Solar Vehicle, Battery Swapping, Electric Autonomous Vehicles), Charging Infrastructure Type (Normal Charge, CCS, Chademo, Tesla Supercharger), Vehicle Type (Passenger Cars, Commercial Vehicles), Solar Panel (Monocrystalline Solar Panel, Polycrystalline Solar Panel), EV Type (HEV, BEV, PHEV), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Solar vehicle market will grow at a CAGR of 37.59% in the forecast period of 2021 to 2028. Increase in the levels of concerns for the environment has resulted in a rise in adoption for eco-friendly vehicles which acts as an essential factor driving the solar vehicle market.
Solar vehicles are the type of automotive vehicles that have been equipped and integrated with solar cells that can generate and store electricity for powering up various components inside the vehicle and even help in mobility of the electric vehicles. Solar vehicles do not utilize or depend completely on solar energy for mobility of the vehicle or powering the components inside the vehicles as currently they are only focused as an alternative source of energy.
Increased initiatives undertaken by the governments to provide subsidies, financial benefits is a crucial factor accelerating the market growth, also decreasing prices of components utilized in the development and integration of solar vehicles, rising concern about environmental pollution, rising investments in research and development activities by OEMs to develop zero-emission vehicles, increase in demand for energy-efficient sources as an alternative to fuel and improved vehicle efficiency along with easier driving operations are the major factors among others boosting the solar vehicle market. Moreover, rising EV charging stations powered by solar panels and rising use of vehicle-to-grid (V2g) EV charging stations for electric vehicles will further create new opportunities for solar vehicle market in the forecast period mentioned above.
However, less operational efficiency of solar vehicles coupled with high cost, rising lack of standardization are the major factors among others which will curtail the market growth, while low efficiency resulting in short distance operation of associated solar vehicles further challenge the solar vehicle market in the forecast period mentioned above.
This solar vehicle market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on solar vehicle market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Solar Vehicle Market Scope and Market Size
Solar vehicle market is segmented on the basis of component, industry trends, charging infrastructure type, vehicle type, solar panel and EV type. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the solar vehicle market is segmented into Ev battery cells and packs, on-board charger, infotainment system and instrument cluster.
- Based on industry trends, the solar vehicle market is segmented into electric taxi, robo-taxi, light solar vehicle, battery swapping and electric autonomous vehicles.
- Based on charging infrastructure type, the solar vehicle market is segmented into normal charge, CCS, chademo and tesla supercharger.
- Based on vehicle type, the solar vehicle market is segmented into passenger cars and commercial vehicles.
- Based on solar type, the solar vehicle market is segmented into monocrystalline solar panel and polycrystalline solar panel.
- The solar vehicle market is also segmented on the basis of EV type into HEV, BEV and PHEV.
Solar Vehicle Market Scope Country Level Analysis
Solar vehicle market is analysed and market size, volume information is provided by country, component, industry trends, charging infrastructure type, vehicle type, solar panel and EV type as referenced above.
The countries covered in the solar vehicle market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
Asia-Pacific dominates the solar vehicle market due to growing purchasing power of consumers, high demand for passenger cars from emerging countries, rising concern about environmental pollution and increased initiatives undertaken by the governments to provide subsidies, financial benefits in this region. Europe is the expected region in terms of growth in solar vehicle market due to rising favorable government support and decreasing battery cost in this region.
The country section of the solar vehicle market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Solar Vehicle Market Share Analysis
Solar vehicle market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to solar vehicle market.
The major players covered in solar vehicle market report are Daimler AG, Ford Motor Company, TOYOTA MOTOR CORPORATION, Volkswagen AG, Panasonic Corporation, ZF Friedrichshafen AG, AB Volvo, BYD Company Ltd., Schaeffler AG, Continental AG, Tesla, Nissan, Mahindra & Mahindra Ltd., Sono Motors, GM Cruise LLC, Hanergy Thin Film Power Group Limited, Solar Electric Vehicle Company, Atlas Technologies, SuratExim. and VENTURI among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Solar Vehicle Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.