Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Editor's Pick Market Research

Solar Powered Car Market to Accumulate US$ 90 Mn by 2031: Fact.MR Study

Urja Daily by Urja Daily
August 26, 2022
in Market Research
Reading Time: 2 mins read
0
Solar Powered Car
Share on FacebookShare on TwitterShare on Linkedin

As per a revised report published by Fact.MR, a market research and competitive intelligence provider, the global solar powered car market is valued at US$ 80 Mn, and is set to expand at an impressive CAGR of more than 12% over the forecast period of 2021 to 2031.

Growing popularity of self-charging vehicles has prompted the creation of the solar vehicle industry, which has aided the expansion of the solar powered car business. Manufacturers have been able to produce solar powered cars and solar powered commercial vehicles due to growing demand for alternate fuel vehicles and the desire for pollution-free vehicles. Also, the need to reduce carbon emissions in the environment along with increasing use of renewable energy is compelling manufacturers to increase their investments in R&D activities and production.

RELATED POSTS

What Are the Latest Technological Innovations in Fuel Cell Vehicles?

What’s Holding Back the EV Battery Revolution?

Key Takeaways from Market Study

  • Monocrystalline solar cells are expected to be one of the key solar panel segments for solar powered cars.
  • Sedan cars are anticipated to remain one of the fastest-growing vehicle types for solar power, due to small and sleek design that improves the efficiency of solar panels that are attached on sedan cars.
  • Pure electric vehicles are expected to become a high growth car category, owing to design of solar vehicles being severely limited by amount of energy input into the car.
  • The lithium-ion battery segment is expected to surge in the near future because of high charging-discharging efficiency, high charge density, and light weight as compared to lead-based and other battery types.
  • Europe is estimated to remain one of the fastest-growing regional market because of ease of availability of raw material and increase in government incentives for solar powered car production and selling.

“Use of renewable energy in the automotive industry holds significant opportunities for solar powered car demand, as it is an extremely tantalizing idea to reduce humanity’s carbon footprint,” says a Fact.MR analyst.

Which Type of Battery is Used Most in Solar Powered Cars?

Lithium-ion batteries are used significantly because of high charging-discharging efficiency, high charge density, and light weight as compared to lead-based and other battery types. The segment is estimated to dominate and account for over 90% share through 2031.

The need of lithium-ion batteries is to provide better performance, low maintenance, and be environment friendly, which is why these batteries are used the most in solar powered cars and are expected to experience high sales over the coming years.

Winning Strategy

Increasing monetary and non-monetary incentives are encouraging the adoption of battery-operated solar powered cars. Moreover, the need for sustainable urban mobility and modern transportation is driving the transition from conventional to renewable modes of transport. Solar powered cars are anticipated to have a positive influence on energy security and air quality.

Tags: Fact.MRSolar Panelsolar powered carurban mobility
ShareTweetShare
Urja Daily

Urja Daily

Related Posts

Fuel Cell Vehicle Market

What Are the Latest Technological Innovations in Fuel Cell Vehicles?

by Palak
September 8, 2025
0

The automotive industry is experiencing a profound transformation as the world shifts toward sustainable energy solutions. While battery electric vehicles...

EV Battery Revolution

What’s Holding Back the EV Battery Revolution?

by Palak
September 4, 2025
0

The Electric Vehicle (EV) Battery Market is at the center of the global clean mobility transition. With EV adoption accelerating...

Autonomous Driving Software

What Opportunities Exist for Startups in the Autonomous Driving Software Market?

by Palak
September 3, 2025
0

The rise of self-driving technology is reshaping global mobility, creating a wave of opportunities across software, hardware, and services. Among...

Electric Vehicle Polymers Market

What Challenges Could Slow Down the Electric Vehicle Polymers Market?

by Palak
September 2, 2025
0

The global automotive industry is undergoing a massive transformation with the rapid adoption of electric vehicles (EVs). Among the many...

Building Insulation Market

Top Innovations Driving the Future of the Building Insulation Market

by Palak
August 30, 2025
0

The global construction industry is undergoing a major transformation, with sustainability, energy efficiency, and advanced materials becoming the cornerstones of...

Next Post
Amy Strecker

Duke Energy Announced Amy Strecker as Foundation president

Longi Solar

LONGi Records 44% YoY Increase in Revenue in H1 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Mr. Raman Bhatia with Jerry Nie Sino Zhuhai Piwin New Energy Co., Ltd

Servotech Renewable Power Partners with Zhuhai Piwin New Energy in Exclusive Deal

September 8, 2025
Vikram Solar

Vikram Solar Bags 336 MW Module Supply Order from L&T for Khavda Project

September 8, 2025

MOST VIEWED

  • Hydrom

    Hydrom and Thyssenkrupp Nucera Partner for Green Hydrogen Projects in Oman

    0 shares
    Share 0 Tweet 0
  • SFC India Selected Dassault Systèmes for Indigenization and Digital Transformation of Wastewater Treatment Plants

    0 shares
    Share 0 Tweet 0
  • Juniper Green Energy Secures 1 GW Solar Module Deal with First Solar

    0 shares
    Share 0 Tweet 0
  • PGCIL Wins ISTS Project for Renewable Energy Integration in Karnataka

    0 shares
    Share 0 Tweet 0

Servotech Renewable Power Partners with Zhuhai Piwin New Energy in Exclusive Deal

Vikram Solar Bags 336 MW Module Supply Order from L&T for Khavda Project

What Are the Latest Technological Innovations in Fuel Cell Vehicles?

Shweta Solar set to unveil 1.2 GW Advanced Solar Module Manufacturing Facility in NCR

Transmission Lines: Myths, Facts, and Why They Matter for Powering India’s Future

UAE Energy Undersecretary Visits Tellus Power Globe Holding’s Hong Kong Office

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • EV Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved