Press release
Solar-Powered Car Market Top Key Players - Audi AG, Sono Motors GmbH, Lightyear, Toyota Motor Corp, Ford Motor Company, Cruise Car Inc., Mahindra & Mahindra Limited, Venturi, General Motors, Volkswagen AG., Solar Electric Vehicle Company, Hanergy Holding
The car's charged batteries power the motor, which acts as the vehicle's engine and propels the vehicle forward. The demand for solar-powered vehicles has been greatly driven up by the growing interest in sustainable and renewable energy sources. As a result, many automakers are attempting to develop solar-powered vehicles since the technology will revolutionise the automotive sector in the future.
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MARKET DRIVERS:
The companies' attention has shifted to creating vehicles that use renewable energy sources rather than fossil fuels as a result of the rising demand for environmentally friendly alternatives. Additionally, the worsening of the air quality has been found to be fatal. For instance, the World Health Organization (WHO) estimates that the poor air quality has caused millions of deaths over the previous few years.
Because of this, governments all over the world have been able to come up with strategies to persuade people to convert to renewable energy sources. Additionally, the diminishing supply of fossil fuels has prompted a number of automakers to search for a workable solution to keep up their rate of advancement.
The SUV and sedan segments are anticipated to hold a predominate global market share, per the car. The desire for solar-powered SUVs and sedans is related to the bigger areas available for solar panel installation, which results in more solar energy absorption by panels and higher efficiency. As a result, the sector is also anticipated to expand at the fastest rate, which will drive the market for solar-powered vehicles in the years to come.
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SOLAR POWERED CAR MARKET SEGMENTATION:
By Material
• Crystalline Silicon Solar Cells
• Thin-Film Solar Cells
By Car:
• Hatchbacks
• Sedans
• SUVs
By Application:
• Personal
• Commercial
By Solar Component:
• Solar Arrays
• Batteries
• Power Trackers
• Others
By Region:
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
FEW KEY PLAYERS IN SOLAR POWERED CAR MARKET:
• Audi AG
• Sono Motors GmbH
• Lightyear
• Toyota Motor Corp
• Ford Motor Company
• Cruise Car Inc.
• Mahindra & Mahindra Limited
• Venturi
• General Motors
• Volkswagen AG.
• Solar Electric Vehicle Company
• Hanergy Holding Group
• Clenergy TeamArrow
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