The Global Solar Vehicle is the type of electric vehicle which is run on only power from the sun. These vehicles are equipped with photovoltaic cell, which is installed in solar panels, and they are responsible to convert solar energy to electric energy. In a solar vehicle electrical energy is stored into battery of vehicle. Basically, solar panels are made up with silicone, which absorbs heat and that heat is convert into electrical energy. Rise in adoption of advanced technology for vehicles, the demand for solar vehicles is increased which is expected to grow the solar vehicle market growth, across the globe.
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Top Key Players/Manufacturers of Global Solar Vehicle Market:
- Hyundai Motor Company, Lightyear, Alke, Solar Electric Vehicle Company, Hanergy Thin Film Power Group, Sono motors, Mahindra & Mahindra, Ford, Toyota Motor Corporation, and Volkswagen AG.
Global Solar Vehicle Market Production Breakdown Data by Top Regional scope:
· NorthAmerica
· Asia Pacific
· Europe
· Latin America
· Middle East
By Drivers Global Solar Vehicle Market is Primarily split into:
- Increase in environmental concerns has resulted in rise in acceptance of eco-friendly vehicles is the key driving factor, which is expected to boost the global solar vehicle market growth. Furthermore, rise in government initiatives, and investments are expected to propel the global solar vehicle market growth. Also, decreased prices of components used in integration and development of solar vehicles will have the positive impact on growth of global solar vehicle market, over the forecast period. Moreover increase in product launch activities is expected to fuel the market growth. For instance, in August 2019, Hyundai hand launched its new vehicle with roof based solar charging technology. In which roof of the vehicle is equipped with solar panels.
Market Segmentation:
· Global Solar Vehicle Market is segmented into electric vehicle such as Plug-in Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV), and Battery Electric Vehicle, by battery type such as Lead Carbon, Lead Acid, and Lead Ion. Further, Global Solar Vehicle Market is segmented into solar panel such as Polycrystalline, and Monocrystalline, by vehicle type such as Passenger Vehicle, and Commercial Vehicle.
· Also, Global Solar Vehicle Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Client Attention:
What is market research?
· Gathering, evaluating, and interpreting data on a market, a product or service that will be sold in that market, and the past, present, and potential clients for the product or service constitute the process of conducting market research.
What are the different types of market research?
· Primary research, secondary research, qualitative research, and quantitative research are some of the several kinds of market research.
What is secondary research?
· Secondary research involves gathering information from already published sources, such online databases, industry journals, and market reports.
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