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. 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.
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Key Growth Prospects: The report specializes in examining the major growth prospects of the global Solar Vehicle market, such as new product launches, collaborations, joint ventures, mergers & acquisitions, agreements, partnerships, and the progress of the key market players functioning in the market, on regional and global levels.
The latest research Solar Vehicle Market report can be viewed as a valuable source of viable data and information pertaining to this particular business vertical. It provides a complete overview of the Solar Vehicle industry, considering the future growth analysis, demand, and supply graphs, as well as historical and future costs and revenue generation.
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.
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The Solar Vehicle market intelligence report exhaustively examines the market value, share, demand, growth prospects, latest and historical trends, manufacturers, gross revenue collection, competitive terrain, market growth forecast, available products, and end-use applications.
Geographical Terrain of the Global Solar Vehicle Market:
- North America (U.S., Canada, and Mexico)
- Europe (Germany, France, the U.K, Russia, and Italy)
- Asia Pacific (China, Japan, Korea, India, and Southeast Asia)
- Latin America (Brazil, Argentina, Colombia, etc.)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
It offers a lucid picture of current trends in the global market, with an unbiased perspective of the leading market players, key regions/countries, end-use industries, and various product types.
- 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
- Electric Vehicle Type Outlook (Revenue, USD Million; 2020–2027)
- Hybrid Electric Vehicle (HEV)
- Battery Electric Vehicle (BEV)
- Plug-in Hybrid Electric Vehicle (PHEV)
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