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Report
Solar Vehicle Market: Global Industry Analysis, Trends, Market Size, and Forecasts up to 2032
Market Report I 2025-03-31 I 300 Pages I Infinium Global Research and Consulting Solutions
The report on the global solar vehicle market provides qualitative and quantitative analysis for the period from 2022-2032. The global solar vehicle market was valued at USD 331.68 million in 2023 and is expected to reach USD 6,255.20 million in 2032, with a CAGR of 38.63% during the forecast period of 2024-2032. The study on solar vehicle market covers the analysis of the leading geographies such as North America, Europe, Asia Pacific, and RoW for the period of 2022-2032.
The report on solar vehicle market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global solar vehicle market over the period of 2022-2032. Moreover, the report is a collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global solar vehicle market over the period of 2022-2032. Further, IGR- Growth Matrix gave in the report brings an insight into the investment areas that existing or new market players can consider.
Report Findings
1) Drivers
- The growing environmental concerns are driving the growth of the solar vehicle market.
- Government support and regulations are expected to stimulate the growth of the market.
2) Restraints
- The limited range and energy conversion inefficiency can hamper the growth of the solar vehicle market.
3) Opportunities
- The advancements in battery technology and solar cell efficiency offer opportunities for market growth.
Research Methodology
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached include
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from the industry
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both the public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
Segment Covered
The global solar vehicle market is segmented on the basis of electric vehicle type, vehicle type, battery type, and solar panel type.
The Global Solar Vehicle Market by Electric Vehicle Type
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Plug-in Hybrid Electric Vehicle
The Global Solar Vehicle Market by Vehicle Type
- Passenger Vehicle
- Commercial Vehicle
The Global Solar Vehicle Market by Battery Type
- Lithium-ion
- Lead-acid
- Others
The Global Solar Vehicle Market by Solar Panel Type
- Monocrystalline
- Polycrystalline
Company Profiles
The companies covered in the report include
- TOYOTA MOTOR CORPORATION
- Astrolab Venturi
- Sono Motors
- Aptera Motors Corp
- Hyundai Motor Company
- Scania
- Vayve Mobility Private Limited
- Lightyear
- Squad Mobility B.V.
- Kia Corporation
What does this Report Deliver?
1. Comprehensive analysis of the global as well as regional markets of the solar vehicle market.
2. Complete coverage of all the segments in the solar vehicle market to analyze the trends, developments in the global market and forecast of market size up to 2032.
3. Comprehensive analysis of the companies operating in the global solar vehicle market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
Table of Content
Chapter 1. Preface
1.1. Report Description
1.2. Research Methods
1.3. Research Approaches
Chapter 2. Executive Summary
2.1. Solar Vehicle Market Highlights
2.2. Solar Vehicle Market Projection
2.3. Solar Vehicle Market Regional Highlights
Chapter 3. Global Solar Vehicle Market Overview
3.1. Introduction
3.2. Market Dynamics
3.2.1. Drivers
3.2.2. Restraints
3.2.3. Opportunities
3.3. Porter's Five Forces Analysis
3.4. IGR-Growth Matrix Analysis
3.4.1. IGR-Growth Matrix Analysis by Electric Vehicle Type
3.4.2. IGR-Growth Matrix Analysis by Vehicle Type
3.4.3. IGR-Growth Matrix Analysis by Battery Type
3.4.4. IGR-Growth Matrix Analysis by Solar Panel Type
3.4.5. IGR-Growth Matrix Analysis by Region
3.5. Value Chain Analysis of Solar Vehicle Market
Chapter 4. Solar Vehicle Market Macro Indicator Analysis
Chapter 5. Company Profiles and Competitive Landscape
5.1. Competitive Landscape in the Global Solar Vehicle Market
5.2. Companies Profiles
5.2.1. TOYOTA MOTOR CORPORATION
5.2.2. Astrolab Venturi
5.2.3. Sono Motors
5.2.4. Aptera Motors Corp
5.2.5. Hyundai Motor Company
5.2.6. Scania
5.2.7. Vayve Mobility Private Limited
5.2.8. Lightyear
5.2.9. Squad Mobility B.V.
5.2.10. Kia Corporation
Chapter 6. Global Solar Vehicle Market by Electric Vehicle Type
6.1. Battery Electric Vehicle
6.2. Hybrid Electric Vehicle
6.3. Plug-in Hybrid Electric Vehicle
Chapter 7. Global Solar Vehicle Market by Vehicle Type
7.1. Passenger Vehicle
7.2. Commercial Vehicle
Chapter 8. Global Solar Vehicle Market by Battery Type
8.1. Lithium-ion
8.2. Lead-acid
8.3. Others
Chapter 9. Global Solar Vehicle Market by Solar Panel Type
9.1. Monocrystalline
9.2. Polycrystalline
Chapter 10. Global Solar Vehicle Market by Region 2024-2032
10.1. North America
10.1.1. North America Solar Vehicle Market by Electric Vehicle Type
10.1.2. North America Solar Vehicle Market by Vehicle Type
10.1.3. North America Solar Vehicle Market by Battery Type
10.1.4. North America Solar Vehicle Market by Solar Panel Type
10.1.5. North America Solar Vehicle Market by Country
10.1.5.1. The U.S. Solar Vehicle Market
10.1.5.1.1. The U.S. Solar Vehicle Market by Electric Vehicle Type
10.1.5.1.2. The U.S. Solar Vehicle Market by Vehicle Type
10.1.5.1.3. The U.S. Solar Vehicle Market by Battery Type
10.1.5.1.4. The U.S. Solar Vehicle Market by Solar Panel Type
10.1.5.2. Canada Solar Vehicle Market
10.1.5.2.1. Canada Solar Vehicle Market by Electric Vehicle Type
10.1.5.2.2. Canada Solar Vehicle Market by Vehicle Type
10.1.5.2.3. Canada Solar Vehicle Market by Battery Type
10.1.5.2.4. Canada Solar Vehicle Market by Solar Panel Type
10.1.5.3. Mexico Solar Vehicle Market
10.1.5.3.1. Mexico Solar Vehicle Market by Electric Vehicle Type
10.1.5.3.2. Mexico Solar Vehicle Market by Vehicle Type
10.1.5.3.3. Mexico Solar Vehicle Market by Battery Type
10.1.5.3.4. Mexico Solar Vehicle Market by Solar Panel Type
10.2. Europe
10.2.1. Europe Solar Vehicle Market by Electric Vehicle Type
10.2.2. Europe Solar Vehicle Market by Vehicle Type
10.2.3. Europe Solar Vehicle Market by Battery Type
10.2.4. Europe Solar Vehicle Market by Solar Panel Type
10.2.5. Europe Solar Vehicle Market by Country
10.2.5.1. Germany Solar Vehicle Market
10.2.5.1.1. Germany Solar Vehicle Market by Electric Vehicle Type
10.2.5.1.2. Germany Solar Vehicle Market by Vehicle Type
10.2.5.1.3. Germany Solar Vehicle Market by Battery Type
10.2.5.1.4. Germany Solar Vehicle Market by Solar Panel Type
10.2.5.2. United Kingdom Solar Vehicle Market
10.2.5.2.1. United Kingdom Solar Vehicle Market by Electric Vehicle Type
10.2.5.2.2. United Kingdom Solar Vehicle Market by Vehicle Type
10.2.5.2.3. United Kingdom Solar Vehicle Market by Battery Type
10.2.5.2.4. United Kingdom Solar Vehicle Market by Solar Panel Type
10.2.5.3. France Solar Vehicle Market
10.2.5.3.1. France Solar Vehicle Market by Electric Vehicle Type
10.2.5.3.2. France Solar Vehicle Market by Vehicle Type
10.2.5.3.3. France Solar Vehicle Market by Battery Type
10.2.5.3.4. France Solar Vehicle Market by Solar Panel Type
10.2.5.4. Rest of Europe Solar Vehicle Market
10.2.5.4.1. Rest of Europe Solar Vehicle Market by Electric Vehicle Type
10.2.5.4.2. Rest of Europe Solar Vehicle Market by Vehicle Type
10.2.5.4.3. Rest of Europe Solar Vehicle Market by Battery Type
10.2.5.4.4. Rest of Europe Solar Vehicle Market by Solar Panel Type
10.3. Asia Pacific
10.3.1. Asia Pacific Solar Vehicle Market by Electric Vehicle Type
10.3.2. Asia Pacific Solar Vehicle Market by Vehicle Type
10.3.3. Asia Pacific Solar Vehicle Market by Battery Type
10.3.4. Asia Pacific Solar Vehicle Market by Solar Panel Type
10.3.5. Asia Pacific Solar Vehicle Market by Country
10.3.5.1. China Solar Vehicle Market
10.3.5.1.1. China Solar Vehicle Market by Electric Vehicle Type
10.3.5.1.2. China Solar Vehicle Market by Vehicle Type
10.3.5.1.3. China Solar Vehicle Market by Battery Type
10.3.5.1.4. China Solar Vehicle Market by Solar Panel Type
10.3.5.2. Japan Solar Vehicle Market
10.3.5.2.1. Japan Solar Vehicle Market by Electric Vehicle Type
10.3.5.2.2. Japan Solar Vehicle Market by Vehicle Type
10.3.5.2.3. Japan Solar Vehicle Market by Battery Type
10.3.5.2.4. Japan Solar Vehicle Market by Solar Panel Type
10.3.5.3. India Solar Vehicle Market
10.3.5.3.1. India Solar Vehicle Market by Electric Vehicle Type
10.3.5.3.2. India Solar Vehicle Market by Vehicle Type
10.3.5.3.3. India Solar Vehicle Market by Battery Type
10.3.5.3.4. India Solar Vehicle Market by Solar Panel Type
10.3.5.4. Rest of Asia-Pacific Solar Vehicle Market
10.3.5.4.1. Rest of Asia-Pacific Solar Vehicle Market by Electric Vehicle Type
10.3.5.4.2. Rest of Asia-Pacific Solar Vehicle Market by Vehicle Type
10.3.5.4.3. Rest of Asia-Pacific Solar Vehicle Market by Battery Type
10.3.5.4.4. Rest of Asia-Pacific Solar Vehicle Market by Solar Panel Type
10.4. RoW
10.4.1. RoW Solar Vehicle Market by Electric Vehicle Type
10.4.2. RoW Solar Vehicle Market by Vehicle Type
10.4.3. RoW Solar Vehicle Market by Battery Type
10.4.4. RoW Solar Vehicle Market by Solar Panel Type
10.4.5. RoW Solar Vehicle Market by Sub-region
10.4.5.1. Latin America Solar Vehicle Market
10.4.5.1.1. Latin America Solar Vehicle Market by Electric Vehicle Type
10.4.5.1.2. Latin America Solar Vehicle Market by Vehicle Type
10.4.5.1.3. Latin America Solar Vehicle Market by Battery Type
10.4.5.1.4. Latin America Solar Vehicle Market by Solar Panel Type
10.4.5.2. Middle East Solar Vehicle Market
10.4.5.2.1. Middle East Solar Vehicle Market by Electric Vehicle Type
10.4.5.2.2. Middle East Solar Vehicle Market by Vehicle Type
10.4.5.2.3. Middle East Solar Vehicle Market by Battery Type
10.4.5.2.4. Middle East Solar Vehicle Market by Solar Panel Type
10.4.5.3. Africa Solar Vehicle Market
10.4.5.3.1. Africa Solar Vehicle Market by Electric Vehicle Type
10.4.5.3.2. Africa Solar Vehicle Market by Vehicle Type
10.4.5.3.3. Africa Solar Vehicle Market by Battery Type
10.4.5.3.4. Africa Solar Vehicle Market by Solar Panel Type
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