Solar Vehicle Market worth 107,380 Units by 2030
                     MarketsandMarkets 
Presents
Solar Vehicle Market worth 107,380 
Units by 2030
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70646574.html
 
The report "Solar Vehicle Market by EV (BEV, HEV & PHEV), Vehicle 
Type (PC & CV), Battery (Lithium-ion, Lead acid, & Lead carbon), 
Solar Panel (monocrystalline & polycrystalline), Neighborhood 
vehicles, Charging Stations, and Region - Global Forecast to 
2030" Global Solar Vehicle Market is projected to grow at a CAGR of 
36.4% from 8,955 units in 2022 to reach 107,380 units by 2030 
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Browse 44 market data Tables and 52 Figures spread 
through 143 Pages and in-depth TOC on "Solar Vehicle Market”
By Battery: Lithium-ion battery is the largest segment of the 
solar vehicle market during the forecast period
Lithium-ion battery is the most common and widely accepted by solar 
vehicle manufacturers globally. The battery is recognized as the best 
rechargeable battery that provides higher energy density and makes it 
most suitable for these vehicles. Lithium-ion batteries are largely used in 
electric vehicles because of their increased power per mass unit. This 
battery also offers the best charge to weight solution, resulting in 
increased battery lifecycle. Hence, the lithium-ion battery segment is 
expected to dominate the market during the forecast period.
By Vehicle Type: PHEV segment is expected to be the fastest 
growing segment in the solar vehicle market
The plug-in hybrid electric vehicle (PHEV) is similar to hybrid electric 
vehicle (HEV) except PHEV batteries can be charged by plugging to an 
outlet. The PHEV segment is expected to grow at the fastest rate in this 
market. The demand for electric vehicles is rapidly growing because of 
increasing environmental pollution and disturbance of ecological 
balance. This has pushed the growth of the PHEV segment during the 
forecast period. Integration of solar panels enables the battery of PHEV 
to be charged through solar rays, thereby eliminating the need of 
plugging it to an electric outlet. This factor is responsible for the fastest 
growth of the PHEV segment in the market.
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Rest of the World (RoW): Brazil is expected to be the fastest 
growing country in the Rest of the World region by 2030
The RoW region is estimated to be the fastest market by 2030. The 
region comprises some of the developing economies of the world such 
as Brazil, Dubai, and South Africa. The increasing spending power in 
countries like Brazil and South Africa among others in the region are 
contributing to the increasing demand for passenger cars. The rising 
imbalance of ecology because of excessive emissions by automobiles is 
generating the need for ecofriendly mobility solutions which will 
ultimately be responsible for the growth of solar vehicles in the RoW 
region. Furthermore, the rising electric vehicle sales in the region and 
their enhanced efficiency by integrating solar panels into it is another 
factor contributing to the fastest growth of the market in the RoW region.
The major players in solar vehicle market includes Volkswagen 
(Germany), Toyota (Japan), Ford (US), Mahindra (India), Nissan (Japan), 
GM (US), Sono Motors (Germany), Cruise Car (US), and Solar Electric 
Vehicle Company (US), among others.
Don’t miss out on business opportunities in Solar Vehicle Market
. Speak to our analyst and gain crucial industry insights that will
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