Press release
Solar-powered vehicle market is expected to rise at a CAGR of 21% | The Solar Electric Vehicle Company, Sono Motors GmbH, Hanergy Holding Company
In addition, the global solar-powered vehicle market is expected to rise at a CAGR of 21%, with a significant value during the projected years 2022-2030.
Electric cars that use solar energy as a fuel for propulsion are known as solar vehicles. Photovoltaic cells, which are mounted on solar panels and are in charge of converting solar energy into electrical energy and storing it directly in the vehicle's battery, are a feature of solar cars. The material used to create these solar panels, silicon, absorbs heat and transforms it into electrical energy. The demand for solar vehicles has expanded due to the growing adoption of cutting-edge automotive technology, which is fuelling the expansion of the global solar vehicle market.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/7946
key players
The Solar Electric Vehicle Company
Sono Motors GmbH
Hanergy Holding Company
Guangzhou Jcar Industrial Company Ltd
Mahindra and Mahindra
Kiira Motors Corporation
Venturi Eclectic
The rise in popularity of self-charging vehicles has prompted the development of the solar car industry, which has aided in the expansion of the self-charging vehicle market. The desire for emission-free vehicles and the rise in consumer income levels have made it possible for producers of solar vehicles to provide solar automobiles and solar commercial vehicles. Photovoltaic cells are used in the solar vehicle industry to charge the battery.
To address the issue of electric vehicles rapidly discharging while in operation, the adoption of electric vehicles around the world has raised the demand for stronger and more effective charging systems to be installed in electric vehicles. Additionally, installing solar panels in cars has cleared the path for the rise of the solar vehicle industry by supplementing the absence of enough infrastructure for charging the vehicle during longer runs. The market is expanding due to rising environmental awareness and demand for fuel alternatives that use less energy.
Market Segmentation:
The global market may be divided into monocrystalline solar panels and polycrystalline solar panels based on the kind of solar panel used in automobiles. Based on the kind of battery, the worldwide market may be segmented into lithium-ion, lead-acid, lead-carbon, and other categories. Based on propulsion, the worldwide solar-powered vehicle market may be further divided into battery-powered and hybrid electric cars. The market for solar-powered vehicles may be divided into two categories based on the kind of vehicle: passenger cars and business automobiles. The five areas of the regional foundation are Asia-Pacific, North America, South America, Europe, the Middle East and Africa.
Regional Analysis:
The German start-up Sono Motors unveiled the Sion, a solar-powered electric vehicle with a battery that can be charged by the grid or the car's solar cells. Hyundai unveiled a variant of its 2021 Hyundai Sonata Hybrid car with incorporated solar film on the roof to aid with battery recharging. Furthermore, if the solar roof is used for 6 hours each day, 60% of the entire power for the car's battery might be generated. This power can move the car for around 1,300 kilometers every year. By 2026, these trends should contribute to a significant increase in this market.
Manufacturers use hybrid cars to help them reach these goals, and governments reward them with the proper subsidies and rebates. For instance, the Dutch government cut registration costs for plug-in hybrid cars by up to 7%. Similar ambitious goals were made by Dubai's Roads and Transport Authority, which stated that by 2021, 50% of the taxis in the emirate would be hybrids.
Industrial News:
As part of a series of initiatives intended to encourage the use of eco-friendly automobiles, even the Moroccan government said that it would eliminate customs fees for hybrid and electric vehicles. Over the projected period, all of these activities are anticipated to strengthen the solar vehicle market.
Browse In-depth Market Research Report @ https://www.marketresearchfuture.com/reports/solar-powered-vehicle-market-7946
Browse more report
Automotive Automatic Tire Inflation System Market@ https://www.marketresearchfuture.com/reports/automotive-automatic-tire-inflation-system-market-6259
Automotive Battery Market@ https://www.marketresearchfuture.com/reports/automotive-battery-market-4763
Automotive Battery Thermal Management System Market@ https://www.marketresearchfuture.com/reports/automotive-battery-thermal-management-system-market-5728
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Contact
Market Research Future
99 Hudson Street,5Th Floor
New York, New York 10013
United States of America
Website: https://www.marketresearchfuture.com
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Solar-powered vehicle market is expected to rise at a CAGR of 21% | The Solar Electric Vehicle Company, Sono Motors GmbH, Hanergy Holding Company here
News-ID: 2785281 • Views: …
More Releases from Market Reasearch Future
Agricultural Biologicals Market Size 28.11 USD Billion with CAGR 10.02% By 2025 …
The Agricultural Biologicals Market continues to gain momentum as the global agricultural sector shifts toward sustainable and eco-friendly farming practices. According to the latest analysis, the market was valued at 9.83 USD Billion in 2024 and is anticipated to grow significantly to reach 28.11 USD Billion by 2035. This growth reflects a robust compound annual growth rate (CAGR) of 10.02% during the forecast period from 2025 to 2035. The industry…
Potash Fertilizers Market Expected to Reach USD 33.93 Billion by 2035 with 3.82% …
According to MRFR analysis, the Potash Fertilizers Market Size reached USD 22.46 billion in 2024 and is expected to grow further from USD 23.32 billion in 2025 to USD 33.93 billion by 2035. This steady expansion reflects a compound annual growth rate (CAGR) of 3.82% throughout the forecast period. The increasing global population, expanding agricultural activities, crop nutrient enhancement needs, and growing concerns about food security are significant contributors to…
Eco-friendly Ink Market 2025: Trends, Growth, Innovations & Future Opportunities …
The Global Eco-friendly Ink Market is projected to grow from 11.80 USD Billion in 2024 to 38.38 USD Billion by 2035, reflecting a robust CAGR of 11.32%.The Eco-friendly Ink Market has emerged as a significant segment within the global printing and packaging industry, reflecting the growing demand for sustainable and environmentally responsible solutions. Traditional inks, often based on petroleum and containing volatile organic compounds (VOCs), have been linked to environmental…
Ornamental Fish Feed Market Size 10.16 USD Billion with CAGR 8.55% By 2025-2035 …
The global ornamental fish feed market has experienced significant positive momentum, driven by rising pet adoption trends, aquarium hobby expansion, and increasing awareness toward species-specific fish nutrition. According to the latest MRFR analysis, the Ornamental Fish Feed Market was valued at approximately 4.12 USD Billion in 2024 and is expected to grow to 4.472 USD Billion in 2025. The market is projected to reach 10.16 USD Billion by 2035, registering…
More Releases for CAGR
[CAGR of 6.7%] Nanocoatings Market Size, Industry Share, CAGR, Regional Forecast …
The global Nanocoatings Market generated $10.7 billion in 2020, and is projected to reach $20.1 billion by 2030, growing at a CAGR of 6.7% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Download sample PDF @ https://www.alliedmarketresearch.com/request-sample/2064
According to the report published by Allied Market Research,…
[CAGR of 5.3%] Pigments Market Size, Industry Share, CAGR, Regional Forecast, 20 …
A recent report by Allied Market Research provides a detailed analysis of the pigments market, highlighting its robust growth. The industry was valued at $27.2 billion in 2022 and is projected to surge to $45.4 billion by 2032, exhibiting an impressive CAGR of 5.3% from 2023 to 2032.
This research report identifies the growth drivers behind the market's expansion and delves into the market dynamics using advanced analytical frameworks…
Enzymes Market Expansion CAGR of 4.9% CAGR Anticipated 2025-2034
The Enzymes Market report is an in-depth examination of the global Enzymes Market's general consumption structure, development trends, sales techniques, and top nations' sales. The research looks at well-known providers in the global Enzymes Market industry, as well as market segmentation, competition, and the macroeconomic climate. A complete Enzymes Market analysis takes into account a number of aspects, including a country's population and business cycles, as well as market-specific microeconomic…
Waterproofing Membranes Market is Projected Grow at CAGR of 8% CAGR by 2033
The waterproofing membranes market is anticipated to witness a Compound Annual Growth Rate (CAGR) of 8.0% over the forecast period. By 2023, the estimated market value for waterproofing membranes is substantial, reaching US$ 31.5 billion.
These waterproofing materials comprise thin, impermeable membranes designed to collaborate with asphalt, providing a protective shield for the structural integrity of buildings. The asphalt component in these membranes acts as a safeguard, preserving the underlying membrane…
Electric Bed Market CAGR, Size, Share Grow USD 2,063 Million by 2030 CAGR 13.70%
Global electric bed market size is expected to be worth roughly USD 2,063 million by 2030, growing at a CAGR of more than 13.7% during the projected timeframe of 2022-2030, according to Ameco Research
A significant portion of the population over the age of 60, who often have reduced immunity levels and are more susceptible to neurological disorders, cardiac issues, tumors, and spinal cord compression, is anticipated to have a substantial…
Pediatric Radiology Market Size will Grow at CAGR 7.7% CAGR during 2017-2026
Pediatric Radiology Market:Overview
The pediatric radiology market is likely to register robust growth in the near future. Chronic illnesses among children including neurological disorders such as ADHD are on the rise. According to the US labor bureau, the demand for pediatrician is expected to grow by 24% on average by 2020. This is the highest average growth among all professionals in the United States.
Despite challenges such as training for new…
