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Solar Powered Car Market to Witness Robust Expansion throughout the Forecast Period 2019 – 2027 By Zaraki Kenpachi - July 2, 2021
Transparency Market Research has published a new report on the global solar powered car market for the forecast period of 2019–2027. According to the report, the global solar powered car market is projected to reach ~ US$ 3.5 Bn by 2027, expanding at a CAGR of ~20% during the forecast period.
To Get a Bird’s Eye View of Market Forecast, Ask for a Custom Report Global Solar Powered Car Market: Overview According to the report, the global solar powered car market is likely to be driven by the demand for zeroemission cars. Selfdriving cars are more efficient and costeffective, and curb transportation emissions. Key automakers such as Sono Motors GmbH, and Lightyear are projected to offer solar
powered cars post 2022 and 2021, respectively, which, in turn, is expected to drive the solar powered car market. Expansion of the Global Solar Powered Car Market The depletion of fossil fuel has prompted global automakers to search for a viable option to maintain their pace of progress and development. Solar powered cars is presently one of the best possible alternate solutions. The demand for zeroemission vehicles has compelled the automotive industry to design and develop new alternate technologies, such as solar powered vehicles that use solar radiant energy as a form of fuel to drive the vehicle. Additionally, the light weight of the car makes it fast and highly efficient as compared to the conventional fossil fuel powered car. Get sample copy of at: https://www.transparencymarketresearch.com/sample/sample.php? flag=S&rep_id=25529 Based on material, the global solar powered car market has been bifurcated into crystalline silicon solar cells and thinfilm solar cells. The crystalline silicon solar cells segment is estimated to dominate the solar powered car market during the initial stages. This is primarily due to their advantages such as high efficiency, high stability, high reliability, and easy to fabricate. The segment is projected to dominate and account for over 98% share of the market by 2022. The crystalline silicon solar cells segment is anticipated to lose market share, as these are expensive and possess a low absorption coefficient as compared to that of thinfilm solar cells. Based on the type of car, the global solar powered car market has been divided into hatchbacks, sedans, and UVs. UVs and sedans are estimated to be highly lucrative segments during the forecast period, as the design of these vehicles offer larger surface area to absorb the sun’s rays, and hence, deliver high performance. In terms of electric car, the BEVs segment is projected to account for a dominant share of the market, owing to the higher demand for green mobility supplemented by government emission norms and policies. Moreover, BEVs curb pollution and require less maintenance. Regional Analysis of the Global Solar Powered Car Market In terms of region, the global solar powered car market has been segregated into North
America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe and Asia Pacific are expected to hold prominent shares of the global solar powered car market. This is due to the rising concerns about transportation emissions, requirement of economical solutions, increasing preference for zeroemission cars, and the existence of wellestablished automakers and automotive sector, leading to an increase in the development of the solar powered car market. Moreover, the presence of automakers and OEMs capable of offering solar powered cars and mass availability of solar powered car components in these regions have led to their higher shares, globally, as compared to that held by other regions. Prominent players operating in the global solar powered car market include Audi AG, Toyota Motor Corp, Ford Motor Company, Sono Motors GmbH, Mahindra & Mahindra Limited, General Motors, Volkswagen AG., Lightyear, Cruise Car Inc., Solar Electric Vehicle Company, Hanergy Holding Group, Venturi, and Clenergy TeamArrow. The global solar powered car market has been segmented as follows: Solar Powered Car Market by Material Crystalline Silicon Solar Cells ThinFilm Solar Cells Solar Powered Car Market by Car Hatchbacks Sedans UVs Solar Powered Car Market by Electric Car BEVs PHEVs HEVs Solar Powered Car Market by Application Personal Commercial Solar Powered Car Market by Solar Component Solar Arrays Batteries
Power Trackers Others Have any query? Inquiry about report at: https://www.transparencymarketresearch.com/sample/sample.php? flag=EB&rep_id=25529 About Us Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forwardlooking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports. Contact Transparency Market Research 90 Sate Street, Suite 700 Albany, NY 12207 Tel: +15186181030 USA – Canada Toll Free: 8665523453 Email: sales@transparencymarketresearch.com Website: https://www.transparencymarketresearch.com
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