Solar Powered Vehicles Market Development, Growth, and Demand Forecast, 2014-2024 – Cole of Duty

P&S Intelligence published a new research report, titled, “Solar Powered Vehicles Market: Global Industry Analysis and Forecast till 2024, (The solar powered vehicles market size is expected to witness a notable growth during the forecast period, majorly driven by increased emphasis by governments of various countries to promote environment-friendly vehicles. Moreover, the declining prices of solar panels and technological advancements in the industry would continue to benefit the solar powered vehicles market during the forecast period. Solar powered vehicles use photovoltaic cells to convert solar energy into electrical energy (stored in a battery), to power the vehicle.)”

The increasing emphasis by the governments of major economies to reduce vehicular pollution is a major driver of the solar powered vehicles market. For example, the European Union targets to reduce carbon dioxide emission by 20% by 2020, from the emission levels recorded in the year 2008. Similarly, many countries have also proposed regulations on motor vehicle fuel efficiency or carbon emission, benefiting the solar powered vehicles market.

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The solar powered vehicles market is at a nascent stage, and is characterized by the presence of many small companies, such as Weifang Guangsheng New Energy Co., Ltd. Some of the key international automotive companies in the market include Ford Motor Company and Toyota Motor Corporation and Audi AG. In 2017, Audi announced its partnership with Alta Devices Inc, to embed solar cells into the roof glass of passenger cars. During the same year, Panasonic Corporation showcased the solar roof (capable of producing 180 Watts of output) for the Toyota Prius Prime, for the Japanese market.

This market research report provides a comprehensive overview of the Solar Powered Vehicles Market.

This study covers

  • Historical and the present size of the Solar Powered Vehicles Market.
  • Future potential of the market through its forecast for the period 2020– 2024
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
  • Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
  • Major players operating in the market and their service offerings
  • Recent strategic developments by the major players in the market

Source: https://coleofduty.com/news/2020/06/24/solar-powered-vehicles-market-development-growth-and-demand-forecast-2014-2024/

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