Solar Powered Car Market: An Insight On the Important Factors and Trends Influencing the Market

Solar powered cars are vehicles that are completely or partly powered by solar energy. Such cars contains photovoltaic cells which are part of solar panels that convert solar energy into electric energy and helps to power the vehicle. Currently, solar power cars use this electricity in two ways- Electricity powers the vehicle to move and secondly some part of electric energy is stored in the battery for the car to use in non-sunny days and at nights.

Solar powered vehicles are of two types: electric vehicles and hybrid vehicles. An electric vehicles contains electric motors and store energy in rechargeable batteries. Solar electric vehicles charge their batteries through solar energy. Hybrid vehicles contains two type of power: the internal combustion engine present generally in vehicles and electric motors to power the vehicle electrically.

By type, the market is segmented into electric vehicles and hybrid electric vehicles. By vehicle type, the market is segmented into passenger vehicles, commercial vehicles and sports vehicles.

By geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is a major solar powered car market. In Asia Pacific, China is anticipated to be a significant solar powered vehicle market. Other than China, the major markets are Japan, South Korea and India. In India, the government has taken a major initiative to introduce 5 million electric vehicles by 2020 and they will be solar powered. China has entered the Indian solar powered vehicle market due to the huge potential of the India solar and electric vehicle market. All this is anticipated to increase the adoption of solar powered vehicles in India.

One major reason for increasing demand for solar powered vehicles in China and India is that both countries receive on an average 300 days of sunlight. North America is a major solar powered car market. The U.S is a significant solar powered car market in North America. Other major markets in the region are Canada and Mexico. Europe is another major solar powered car market. Germany is the largest solar powered car market in Europe. Other major solar powered markets in Europe are the U.K, France, Italy, Spain, Belgium and Netherlands. In Middle East & Africa, the significant solar powered cars markets are Iran and South Africa. In Latin America, the major solar powered car markets are Brazil and Argentina.

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Steep fall in price of solar panels is anticipated to increase the demand for solar powered cars. Rising government initiatives to encourage solar powered vehicles in comparison to traditional fossil fuel vehicles is anticipated to increase the demand for solar powered cars. Solar cars produce no noise pollution and solar energy is completely free which are anticipated to increase the demand for these type of cars.

Rising demand for fuel efficient vehicles is anticipated to increase the demand for solar cars. A major restraint for solar powered cars, is that not many people can be accommodated in a solar powered car and the adoption rate of solar powered cars is still low. The major opportunity for solar powered cars are increasing acceptance of electric vehicles and hybrid vehicles across the world. Major automotive manufacturers’ plans to sell thousands of electric vehicles in future.

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The report provides the various competitive strategies adopted by key players operating in the market to gain market share. Company profiles include company details, market presence by segment and geography, strategic overview, SWOT analysis and historical revenue. The report also contains details of market share analysis of key players in the market. Major firms operating in the solar powered car markets are Hanergy Holding Group (China), Venturi (France), Toyota Motor Corp. (Japan), Ford Motor Company (the U.S), Mahindra & Mahindra (India), Cruise Car (the U.S), The Solar Electric Vehicle Company (the U.S), Nissan Motor Company (Japan), Immortus (Australia), and Guangzhou Jcar Industrial Company Ltd (China).

Light Weapons Market: Key Players and Production Information analysis with Forecast 2025

Light weapons are weapons which are used by two or three persons serving as a crew, although some of them may be carried and used by a single person. Light weapons are basically used by militaries around the world and its applications have increased widely among armed groups. They include, inter alia, heavy machine guns, hand-held under-barrel and mounted grenade launchers, portable anti-aircraft guns, portable anti-tank guns, recoilless rifles, portable launchers of anti-tank missile and rocket systems, portable launchers of anti-aircraft missile systems as well as mortars of a caliber of less than 100 millimeters. The latest generation of light weapons is more destructive, more portable, and generally more competent than older systems, raising concerns about their uncontrolled generation. Light weapons are represented by their durability, cost effectiveness, accessibility and utility. In terms of military and non-military demand, such criteria perfectly match the needs of those who...

Aerospace Window Frame Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Aerospace window frames are used in the cockpit windshields and passenger cabin windows to provide rigidity to the windows. Metal window frame is used widely in aircrafts. Increase demand of cockpit windshield frame in different countries such as India, Brazil and China among others is the one of the major factor boosting the market for aerospace window frame during the forecast period of 2017 – 2025. Based on aircraft type, the global aerospace window frame market is segmented into wide body aircraft, narrow body aircraft, very large aircraft, general aviation and regional aircraft. Among various aircraft types, in 2016, the wide body aircraft segment is estimated to be the major market followed by very large aircraft and expected to be the same during the forecast period of 2017 – 2025. Increasing regional and commercial aircraft deliveries is expected to be one of the major factor fueling the regional aircraft segment in global aerospace window frame market during the fo...

Digital Transformation Of Maritime Freight Market To Reach A Value Of ~US$ 38.4 Billion By 2027

According to a new report pertaining to the global digital transformation of maritime freight market published by Transparency Market Research, the global digital transformation of maritime freight market is projected to reach a value of ~ US$ 38.4 Bn by 2027. The market is projected to expand at a CAGR of ~ 10% from 2019 to 2027. Growth of the market can be attributed to increased importance and dependency on IT & digitization within the shipping industry. Over the forecast period, Asia Pacific is anticipated to grow rapidly in the digital transformation of maritime freight market, at a ~ 11% CAGR. In terms of share, the digital transformation of maritime freight market is dominated by North America, followed by Europe. In the digital transformation of maritime freight market, the software solution segment was valued at ~ US$ 15.3 Bn in 2017. Increased Importance and Dependency on IT & Digitization within the Shipping Industry IT an...

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