Global Solar Powered Vehicles Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a XX% CAGR of around during a forecast period. The solar powered vehicles are the future of the automobile industry. The growing emphasis by the governments of major economies to reduce vehicular pollution is a major driver of the solar powered vehicles market globally. For example, the European Union targets to decrease carbon dioxide emission by XX% by 2020, from the emission levels recorded in the year 2008.The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis. Many economies have also proposed regulations on fuel efficiency or carbon emission, which is benefiting the solar powered vehicles market. Similarly, the report analyzes factors affecting solar powered vehicles market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report on global solar powered vehicles market gives segments such as type, vehicle type, electric vehicles and region. Based on electric vehicles, the fully electric vehicle category would witness faster growth during the forecast period, because of increasing government support for these vehicles in the form of incentives and subsidies. The estimated electricity demand from EVs in 2017 increased by XX% compared with 2016. Electricity demand from EVs was equivalent to XX% of the total global electricity consumption in 2017 (IEA, 2018c). In China and Norway, the economies that have respectively the largest fleet and the largest market share of EVs, EV electricity demand is XX% and XX% of the total demand. The APAC region is forecasted to hold the largest XX% share in the global solar powered vehicle market during the forecast period. Growing production and sales of batteries and hybrid electric vehicles in China and Japan is propelling the growth of the regional market. Also, the rise in the demand for solar-powered electric bus led by government initiatives is estimated to boost the market in this region. In China, there is a huge push for New Energy Vehicles (NEVs) to cut down the urban pollution. In another effort to scale up and earn international attention, some Chinese solar powered vehicles manufacturers have begun to ship solar-powered electric trucks to the U.S. This, as a result, will pave the way for China to have an increased influence on the solar powered vehicle market globally. However, in India, High GST (goods and services tax) on batteries might affect the sales in the solar powered vehicle market. High tax on batteries used in solar powered vehicles under the GST regime may turn into a major roadblock to the government’s drive to push NEVs. The government needs to step up investments in solar-powered vehicle technology to help bring down the costs of batteries and boost the adoption of green mobility solutions. The reports cover detail dynamics and key developments in the solar powered vehicles market as organic and inorganic growth strategies. Solar powered vehicles industry participants are engaged in strategic contracts and partnerships for developing innovative connectivity solutions for gaining a competitive edge and improve their market share. For instance, in January 2019, Sono Motors and Bosch entered into a strategic partnership for emerging advanced connectivity solutions for its Sion solar vehicle. The objective of the report is to present comprehensive analysis of Global Solar Powered Vehicles Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Solar Powered Vehicles Market dynamics, structure by analyzing the market segments, and project the Global Solar Powered Vehicles Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Solar Powered Vehicles Market make the report investor’s guide.
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Scope of the Global Solar Powered Vehicles Market
Global Solar Powered Vehicles Market, by Electric Vehicles
- Fully electric vehicle • Hybrid electric vehicle
Global Solar Powered Vehicles Market, by Vehicle Type
- Commercial Vehicles • Passenger Cars
Global Solar Powered Vehicles Market, by Type
- Three wheelers • Four wheelers
Global Solar Powered Vehicles Market, by Region
- North America • Asia Pacific • Europe • Middle East & Africa • South America
Key players operating in the Global Solar Powered Vehicles Market
- Guangzhou Jcar Industrial Company Ltd • Venturi Eclectic • Cruise Car • Immortus • Kiira Motors Corporation (KMC) • Volkswagen • Toyota • Ford • Mahindra & Mahindra • Nissan • General Motors • Sono Motors • Hanergy Thin Film Power Group • Cruise Car • Solar Electric Vehicle Company • Jinko Solar • Trina Solar
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