Lucintel's latest market report analyzed that solar car provides attractive opportunities in the passenger cars and commercial vehicles markets. The solar car market is expected to reach $XX billion by 2028 with a CAGR of 35% to 37%. In this market, monocrystalline is the largest segment by solar panel, whereas passenger car is largest by vehicle type. Stringent government regulations to curb the emission of greenhouse gases, technological advancement of solar vehicle rooftops, and increased trend of self-charging vehicles provides strategic growth path in this market.
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Based on solar panel, the solar car market is segmented into monocrystalline and polycrystalline. The monocrystalline segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to provides higher efficiency owing to their high-temperature coefficient that ensures low output deterioration and are manufactured from the superior grade silicon that enables minimal resistance in electricity flow.
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The Solar Car Market is marked by the presence of several big and small players. Some of the prominent players offering solar car include Toyota, Lightyear, Volkswagen, Ford Motor Compan, Fiat Chrysler Automobiles, America Cruise Car, and Hanergy.
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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link [email protected].
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Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
Brandon Fitzgerald
Lucintel
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