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Solar-Powered Vehicle Industry

Solar-Powered Vehicle Industry

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Solar-Powered Vehicle Industry

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  1. Major Players Players leading the global Solar Powered Vehicle Market include Hanergy Holding Group (China), Guangzhou Jcar Industrial Company Ltd (China), Venturi Eclectic (France), Ford Motor Company (US), Sono Motors GmbH (Germany), Mahindra & Mahindra (India), The Solar Electric Vehicle Company (US), Cruise Car (US), Immortus (Australia), and Kiira Motors Corporation (KMC) (Uganda), among others. Solar-Powered Vehicle Industry - Segmentation The report segments the market into five key dynamics to widen the scope of understanding, By Solar Panel : Monocrystalline Solar Panel and Polycrystalline Solar Panel. By Battery Type : Lithium-Ion Battery, Lead-Acid, and Lead-Carbon, among others. By Propulsion : Battery Electric Vehicle and Hybrid Electric Vehicle. By Vehicle Type: Commercial Vehicle and Passenger Car. By Regions : Asia Pacific,North America, Europe, and the Rest-of-the-World. Regional Analysis The Asia Pacific region is forecasted to hold the largest share in the global Solar-Powered Vehicle Industry during the forecast period. Increasing production and sales of batteries and hybrid electric vehicles in China and Japan is propelling the growth of the regional market. Besides, the increase in the demand for solar-powered electric bus led by government initiatives is estimated to boost the market in this region. The excellent example of such initiatives is the Indian government’s effort to introduce 5 MN solar-powered electric vehicles across the country by 2020. Furthermore, the ample availability of sunlight in most of the countries in the region due to the geospatial topology encourages the growth of the Solar Powered Vehicle Market in the region. In China, there is a massive 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 United States. This, as a result, will pave the way for China to have an increased influence on the global Solar Powered Vehicle Market. Whereas 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 encourage the adoption of green mobility solutions.

  2. The Solar Powered Vehicle Market in the North American region is another promising market which is projected to witness significant growth throughout the review period. The US, among other North American countries, holds the largest share in the regional market. In the US, the new tax plan/tax credit per vehicle has boosted sales of solar-powered vehicles further impacting the sales in the regional solar-powered vehicles market. Global Solar Powered Vehicle Market - Competitive Analysis Well-established, the Solar Powered Vehicle Market appears to be competitive and fragmented due to the presence of several large players. They incorporate strategic initiatives such as acquisition, collaboration, expansion, and product launch to gain a competitive advantage in this market. They emphasize on the product innovation and new manufacturing processes, which, in turn, would fuel the already intensified competition during the forecast period. Solar Powered Vehicle Market demonstrates high growth prospect, which attracts several new entrants to the market, further intensifying the market competition. Battery-makers operating in the market are increasingly turning to nickel to help the sales of solar-powered cars. Manufacturers strive to offer expansive IT expertise that supports rechargeable batteries, as well as, new energy vehicles, solar farming, and other energy storage options. Industry/ Innovation/ Related News June 20, 2019 ---- Lightyear (the Netherlands), an automotive start-up announced the development of its first solar- powered car - Lightyear One. With its solar panels stretching across its roof to charge the electric vehicle’s batteries, the Lightyear One car has a charging port to plug into a charger. They won the Bridgestone World Solar Challenge, a competition for solar-powered cars. July 15, 2019 --- Toyota Motor Corp (Japan), a car manufacturing giant, announced the beginning of testing of its solar-powered and self-charging car – Prius. The new version of Prius hybrid car, with up to 860 watts of thin solar film will be able to charge its “solar battery” as it drives, and add more than 50kms to its fossil fuel-free driving range. The 1kW output from solar panels on the car is a potential game-changer for not just hybrids, but also full battery electric vehicles. Table Of Contents 1. Executive Summary 2. Scope Of The Report 2.1. Market Definition 2.2. Scope Of The Study 2.2.1. Definition 2.2.2. Research Objective 2.2.3. Assumptions 2.2.4. Limitations 2.3. Research Process

  3. 2.3.1. Primary Research 2.3.2. Secondary Research 2.4. Market Size Estimation 2.5. Forecast Model 3. Market Landscape 3.1. Porter’s Five Forces Analysis 3.1.1. Threat Of New Entrants 3.1.2. Bargaining Power Of Buyers 3.1.3. Threat Of Substitutes 3.1.4. Segment Rivalry 3.1.5. Bargaining Power Of Buyers 3.2. Value Chain/Supply Chain Analysis Continues….. Access Full Report With Complete TOC @ https://www.marketresearchfuture.com/reports/solar-powered- vehicle-market-7946 List Of Tables Table 1 Global Solar Powered Vehicle Market, By Region, 2017–2025 Table 2 North America: Solar Powered Vehicle Market, By Country, 2017–2025 Table 3 Europe: solar power for vehicles Market, By Country, 2017–2025 Table 4 Asia-Pacific: Solar-Powered Vehicle Industry, By Country, 2017–2025 Table 5 RoW: Solar-Powered Vehicle Industry, By Region, 2017–2025 Continues…. 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 products, services, technologies, applications, end users, 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. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members. Contact Market Research Future Phone: +1646 845 9312

  4. Email: sales@marketresearchfuture.com Ref: https://edition.cnn.com/2019/06/26/business/lightyear-one-solar-powered-car/index.html https://thedriven.io/2019/07/15/toyota-begins-testing-of-solar-powered-and-self-charging-prius/

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