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<strong>Solar</strong> <strong>Powered</strong> <strong>Car</strong> <strong>Market</strong> - <strong>Global</strong> <strong>Industry</strong> <strong>Analysis</strong>, <strong>Size</strong>, <strong>Share</strong>, <strong>Growth</strong>,<br />
<strong>Trends</strong>, <strong>and</strong> <strong>Forecast</strong> <strong>2017</strong> - <strong>2025</strong><br />
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<strong>Solar</strong> powered cars are vehicles that are completely or partly powered by solar energy. Such cars contains<br />
photovoltaic cells which are part of solar panels that convert solar energy into electric energy <strong>and</strong> helps to<br />
power the vehicle. Currently, solar power cars use this electricity in two ways- Electricity powers the vehicle<br />
to move <strong>and</strong> secondly some part of electric energy is stored in the battery for the car to use in non-sunny days<br />
<strong>and</strong> at nights.<br />
<strong>Solar</strong> powered vehicles are of two types: electric vehicles <strong>and</strong> hybrid vehicles. An electric vehicles contains<br />
electric motors <strong>and</strong> store energy in rechargeable batteries. <strong>Solar</strong> electric vehicles charge their batteries through<br />
solar energy. Hybrid vehicles contains two type of power: the internal combustion engine present generally<br />
in vehicles <strong>and</strong> electric motors to power the vehicle electrically.<br />
By type, the market is segmented into electric vehicles <strong>and</strong> hybrid electric vehicles. By vehicle type, the<br />
market is segmented into passenger vehicles, commercial vehicles <strong>and</strong> sports vehicles.<br />
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By geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa <strong>and</strong><br />
Latin America. Asia Pacific is a major solar powered car market. In Asia Pacific, China is anticipated to be a<br />
significant solar powered vehicle market. Other than China, the major markets are Japan, South Korea <strong>and</strong><br />
India. In India, the government has taken a major initiative to introduce 5 million electric vehicles by 2020<br />
<strong>and</strong> they will be solar powered. China has entered the Indian solar powered vehicle market due to the huge<br />
potential of the India solar <strong>and</strong> electric vehicle market.<br />
All this is anticipated to increase the adoption of solar powered vehicles in India. One major reason for<br />
increasing dem<strong>and</strong> for solar powered vehicles in China <strong>and</strong> India is that both countries receive on an average<br />
300 days of sunlight. North America is a major solar powered car market. The U.S is a significant solar<br />
powered car market in North America. Other major markets in the region are Canada <strong>and</strong> Mexico. Europe is<br />
another major solar powered car market. Germany is the largest solar powered car market in Europe. Other<br />
major solar powered markets in Europe are the U.K, France, Italy, Spain, Belgium <strong>and</strong> Netherl<strong>and</strong>s. In Middle
East & Africa, the significant solar powered cars markets are Iran <strong>and</strong> South Africa. In Latin America, the<br />
major solar powered car markets are Brazil <strong>and</strong> Argentina.<br />
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Steep fall in price of solar panels is anticipated to increase the dem<strong>and</strong> for solar powered cars. Rising government<br />
initiatives to encourage solar powered vehicles in comparison to traditional fossil fuel vehicles is anticipated<br />
to increase the dem<strong>and</strong> for solar powered cars. <strong>Solar</strong> cars produce no noise pollution <strong>and</strong> solar energy<br />
is completely free which are anticipated to increase the dem<strong>and</strong> for these type of cars. Rising dem<strong>and</strong> for fuel<br />
efficient vehicles is anticipated to increase the dem<strong>and</strong> for solar cars. A major restraint for solar powered cars,<br />
is that not many people can be accommodated in a solar powered car <strong>and</strong> the adoption rate of solar powered<br />
cars is still low. The major opportunity for solar powered cars are increasing acceptance of electric vehicles<br />
<strong>and</strong> hybrid vehicles across the world. Major automotive manufacturers’ plans to sell thous<strong>and</strong>s of electric<br />
vehicles in future.<br />
The report provides the various competitive strategies adopted by key players operating in the market to gain<br />
market share. Company profiles include company details, market presence by segment <strong>and</strong> geography, strategic<br />
overview, SWOT analysis <strong>and</strong> historical revenue. The report also contains details of market share analysis<br />
of key players in the market. Major firms operating in the solar powered car markets are Hanergy Holding<br />
Group (China), Venturi (France), Toyota Motor Corp. (Japan), Ford Motor Company (the U.S), Mahindra &<br />
Mahindra (India), Cruise <strong>Car</strong> (the U.S), The <strong>Solar</strong> Electric Vehicle Company (the U.S), Nissan Motor Company<br />
(Japan), Immortus (Australia), <strong>and</strong> Guangzhou Jcar Industrial Company Ltd (China).<br />
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical<br />
data, <strong>and</strong> verifiable projections about market size. The projections featured in the report have been<br />
derived using proven research methodologies <strong>and</strong> assumptions. By doing so, the research report serves as a<br />
repository of analysis <strong>and</strong> information for every facet of the market, including but not limited to: Regional<br />
markets, technology, types, <strong>and</strong> applications.<br />
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information reports <strong>and</strong> services. Our exclusive blend of quantitative forecasting <strong>and</strong> trends analysis provides<br />
forward-looking insight for thous<strong>and</strong>s of decision makers. We have an experienced team of Analysts,
Researchers, <strong>and</strong> Consultants, who us e proprietary data sources <strong>and</strong> various tools <strong>and</strong> techniques to gather,<br />
<strong>and</strong> analyze information. Our business offerings represent the latest <strong>and</strong> the most reliable information<br />
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