Infinium Global Research analyzes the Solar Vehicle Market over the period of 2019 to 2025. This report also provides detailed qualitative and quantitative analyses of the market dynamics, market size and future trends in the global solar vehicle market. It will help a lot of decision makers to develop strategies and find new opportunities in the global markets of solar vehicle. The report covers market changing aspects including drivers, restraints, opportunities, and trends expected to encouragement the expansion of the solar vehicle market during the period. The global solar vehicle market is projected to grow at a CAGR of 38.62% over the forecast period of 2019-2025.
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Granted Subsidies by Government Enhance Growth for Solar Vehicles
The increase in pollution levels and exhausting fossil fuel reservoirs enhance the growth of the solar vehicles market. Factors such as reducing prices of the solar panels, technological advancements, granted subsidies by the government for solar panel’s affordability, and demand for fuel efficient and environment friendly vehicles fuel the growth of the global Solar vehicle market. Also, growing pollution due to high emissions from vehicles, propel growth for the solar vehicles market. Moreover, developing innovations for harnessing solar energy generates opportunities for the solar vehicles market.
Due to Growing Purchase Capabilities, Asia-Pacific is Anticipated to Hold Dominance in the Global Solar Vehicles Market
Geographically, Asia-Pacific holds dominance in the global solar vehicles market. The rising purchase capabilities of consumers and strict emission rules enhance the growth of the solar vehicles market in the region. Also, the availability of sun light for around 300 days throughout the year fuels growth opportunities for the solar vehicles market in the region.
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PHEV Holds the Largest Share in the Solar Vehicles Market
According to the analyst, the scope of the market is analyzed on the basis of hybridization, vehicle type, and solar panel type. Based on hybridization the study includes bev, hev, and phev. PHEV segment holds a dominant share in the global solar vehicle market. Owing to the growing demand for electric vehicles and rising environmental pollution and disturbance in the ecological balance fuels the growth for the solar vehicles. Based on vehicle type the market includes passenger vehicle and commercial vehicle. The passenger vehicles segment is expected to grow and hold the largest share in the global solar vehicles market due to rising sales of passenger vehicles than commercial vehicles. Based on solar panel type the study includes monocrystalline, and polycrystalline.
Leading Key Players in the Market of Solar Vehicles
Based on the analysis of the market the leading companies in the study include Toyota Motor Corp, Volkswagen AG, Ford Motor Company, Mahindra & Mahindra Limited, Nissan Motor Co., Ltd., Atlas Technologies B.V., Cruise Car America, Venturi Automobiles, Sono Motors GmbH, Hanergy Holding Group, and Other Companies. In September 2019, Toyota and Subura agreed to form a new business and capital alliance with an aim to develop and strengthen their long-term partnership. In September 2019, Meru Mobility Tech Private Limited was acquired by Mahindra & Mahindra Limited for $28.1 million.
Read the Detailed Index of the full Research Study at https://www.infiniumglobalresearch.com/automotive/global-solar-vehicle-market
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the solar vehicle.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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