Solar Powered Car Market: By Vehicle Type (Passenger Car, Commercial Car), By Battery Type (Lithium-Ion, Lead-Acid, Others), By Solar Panel (Monocrystalline, Polycrystalline), By Electric vehicle Type (Battery Electric Vehicle, Hybrid Electric Vehicle), and Geography  

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Solar Powered Car Market size was valued at USD 340.8 million in 2023, and is expected to grow at a 19.9% CAGR from 2024 to 2030. The solar powered cars convert solar energy into electrical energy. This electricity charges the battery, which gives the power to the car engine. Some solar vehicles transfer electricity directly to electric motor without the battery. The photovoltaic cells present in the solar panel helps to convert solar rays into electricity. The photovoltaic cells are made up of semiconductors especially silicon which absorbs light. The electrons in the semiconductor are liberated by the sun rays which in turn provides energy and is used to charge battery and specialized motor in solar automobiles. Increase in preservation of natural resources by using solar vehicles is the key driver in the growth of solar-powered car market. The solar powered car doesn’t require any kind of energy input. The solar powered vehicles are maintenance free when compared to gasoline vehicles. Then solar powered vehicle reduces environmental impacts by decreasing or eliminating fuel consumption. In addition, solar powered vehicles provide noise free operations and require low maintenance when compare with the internal combustion engines. Hence, increase in vehicle emission concern and eco-friendly operations of solar panels vehicles are expected to drive the growth of solar powered car market in the forecasted years.

Fossil fuels like petrol and diesel are the source of energy to majority of the vehicles across the globe. However, the fuel reserves have been decreased significantly in the past years by increased consumption and surge in demand for personal mobility, particularly in countries like India, China, the energy consumption has increased. Increase in fuel prices which compels the people to adopt to solar powered vehicles which comparatively reduces the cost of mobility. Whereas, factors like the operation efficiency of solar powered vehicles are less when compared to Internal combustion engines, weather conditions also considered as important factor to charge the battery, the speed and power of solar powered vehicles is less compared conventional vehicles. Hence these factors are expected to hinder the market growth in the forecasted years.

Solar Powered Car Market Key Developments:
  • In May 2021, MAN Trucks announced partnership with Sono motors to analyze technical and economic feasibility by integrating Sono solar technology in MAN’s eTGE electric transporter.
  • In December 2022, Lightyear launched world’s first solar car with 1000km range.


Solar Powered Car Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

19.9%

Largest Market

North America

Fastest Growing Market

Asia Pacific
Solar Powered Car Market Dynamics

Solar powered car market is expected to grow owing to increasing environmental consciousness among the public and increase in awareness about the environmental impacts caused by the internal combustion engines is expected to drive the market growth. In addition, decrease in maintenance cost of solar powered vehicle, elimination of consumption of fossil fuel are expected to boost the market growth. The global drop in the price of solar panels across the globe in last decades is expected to propel the solar powered car market in a significant rate in the forecasted years. Furthermore, strict regulations on vehicle emission norms are expected to drive the growth of solar powered car market across the globe.

Solar Powered Car Market Segmentation

By Vehicle Type
  • Passenger Vehicle
  • Commercial Vehicle
By Battery Type
  • Lithium-Ion
  • Lead-Acid
  • Others
By Solar Panel
  • Monocrystalline
  • Polycrystalline
By Electric vehicle Type
  • Battery Electric Vehicle
  • Hybrid Electric Vehicle
By Geography
  • North America
  • Europe
  • The Asia Pacific
  • Latin America
  • MEA

Frequently Asked Questions

Solar Powered Car market was valued at USD 340.8 million in 2023

The leading players in the global Solar Powered Car market are Sono Motors, Volkswagen, Lightyear, Toyota Motor Corporation, Mahindra & Mahindra Ltd., Cruise Car, Inc., Hanergy Thin Film Power Group Ltd., Ford Motor Company, Nissan, Hyundai Motor Company, General Motors, MAN Trucks, Lightyear

TheSolar Powered Car market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2019-2023), and forecast (2024-2030)
  • The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments, and start-up details that are actively working in the market
  • The report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
1. Executive Summary
2. Global Solar Powered Car Market Introduction 
2.1.Global Solar Powered Car Market  - Taxonomy
2.2.Global Solar Powered Car Market  - Definitions
2.2.1.Vehicle Type 
2.2.2.Battery Type 
2.2.3.Solar Panel 
2.2.4.Electric vehicle Type 
2.2.5.Geography
3. Global Solar Powered Car Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities/Unmet Needs of the Market
3.4. Trends
3.5. Product Landscape
3.6. New Product Launches
3.7. Impact of COVID 19 on Market
4. Global Solar Powered Car Market Analysis, 2019 - 2023 and Forecast 2024 - 2030
4.1.  Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
4.2.  Year-Over-Year (Y-o-Y) Growth Analysis (%) 
4.3.  Market Opportunity Analysis 
5. Global Solar Powered Car Market  By Vehicle Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
5.1. Passenger Vehicle
5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.1.3. Market Opportunity Analysis 
5.2. Commercial Vehicle
5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
5.2.3. Market Opportunity Analysis 
6. Global Solar Powered Car Market  By Battery Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
6.1. Lithium-Ion
6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.1.3. Market Opportunity Analysis 
6.2. Lead-Acid
6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.2.3. Market Opportunity Analysis 
6.3. Others
6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
6.3.3. Market Opportunity Analysis 
7. Global Solar Powered Car Market  By Solar Panel , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
7.1. Monocrystalline
7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.1.3. Market Opportunity Analysis 
7.2. Polycrystalline
7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
7.2.3. Market Opportunity Analysis 
8. Global Solar Powered Car Market  By Electric vehicle Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
8.1. Battery Electric Vehicle
8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.1.3. Market Opportunity Analysis 
8.2. Hybrid Electric Vehicle
8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
8.2.3. Market Opportunity Analysis 
9. Global Solar Powered Car Market  By Geography, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
9.1. North America
9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.1.3. Market Opportunity Analysis 
9.2. Europe
9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.2.3. Market Opportunity Analysis 
9.3. The Asia Pacific
9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.3.3. Market Opportunity Analysis 
9.4. Latin America
9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.4.3. Market Opportunity Analysis 
9.5. MEA
9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million)
9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) 
9.5.3. Market Opportunity Analysis 
10. North America Solar Powered Car Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
10.1. Vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.1.1.Passenger Vehicle
10.1.2.Commercial Vehicle
10.2.  Battery Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.2.1.Lithium-Ion
10.2.2.Lead-Acid
10.2.3.Others
10.3.  Solar Panel  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.3.1.Monocrystalline
10.3.2.Polycrystalline
10.4.  Electric vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.4.1.Battery Electric Vehicle
10.4.2.Hybrid Electric Vehicle
10.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
10.5.1.United States of America (USA)
10.5.2.Canada
11. Europe Solar Powered Car Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
11.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.1.1.Passenger Vehicle
11.1.2.Commercial Vehicle
11.2.  Battery Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.2.1.Lithium-Ion
11.2.2.Lead-Acid
11.2.3.Others
11.3.  Solar Panel  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.3.1.Monocrystalline
11.3.2.Polycrystalline
11.4.  Electric vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.4.1.Battery Electric Vehicle
11.4.2.Hybrid Electric Vehicle
11.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
11.5.1.Germany
11.5.2.France
11.5.3.Italy
11.5.4.United Kingdom (UK)
11.5.5.Spain
11.5.6.Rest of EU
12. The Asia Pacific Solar Powered Car Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
12.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.1.1.Passenger Vehicle
12.1.2.Commercial Vehicle
12.2.  Battery Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.2.1.Lithium-Ion
12.2.2.Lead-Acid
12.2.3.Others
12.3.  Solar Panel  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.3.1.Monocrystalline
12.3.2.Polycrystalline
12.4.  Electric vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.4.1.Battery Electric Vehicle
12.4.2.Hybrid Electric Vehicle
12.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
12.5.1.China
12.5.2.India
12.5.3.Australia and New Zealand (ANZ)
12.5.4.Japan
12.5.5.Rest of APAC
13. Latin America Solar Powered Car Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
13.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.1.1.Passenger Vehicle
13.1.2.Commercial Vehicle
13.2.  Battery Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.2.1.Lithium-Ion
13.2.2.Lead-Acid
13.2.3.Others
13.3.  Solar Panel  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.3.1.Monocrystalline
13.3.2.Polycrystalline
13.4.  Electric vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.4.1.Battery Electric Vehicle
13.4.2.Hybrid Electric Vehicle
13.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
13.5.1.GCC Countries
13.5.2.South Africa
13.5.3.Rest of MEA
14. MEA Solar Powered Car Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million)
14.1. Vehicle Type  Analysis  and Forecast  by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.1.1.Passenger Vehicle
14.1.2.Commercial Vehicle
14.2.  Battery Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.2.1.Lithium-Ion
14.2.2.Lead-Acid
14.2.3.Others
14.3.  Solar Panel  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.3.1.Monocrystalline
14.3.2.Polycrystalline
14.4.  Electric vehicle Type  Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.4.1.Battery Electric Vehicle
14.4.2.Hybrid Electric Vehicle
14.5.  Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) 
14.5.1.Brazil
14.5.2.Mexico
14.5.3.Rest of LA
15. Competition Landscape
15.1.  Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) 
15.2.1.Sono Motors
15.2.2.Volkswagen
15.2.3.Lightyear
15.2.4.Toyota Motor Corporation
15.2.5.Mahindra & Mahindra Ltd.
15.2.6.Cruise Car, Inc.
15.2.7.Hanergy Thin Film Power Group Ltd.
15.2.8.Ford Motor Company
15.2.9.Nissan
15.2.10.Hyundai Motor Company
15.2.11.General Motors
15.2.12.MAN Trucks
15.2.13.Lightyear
16. Research Methodology 
17. Appendix and Abbreviations 
  • Sono Motors
  • Volkswagen
  • Lightyear
  • Toyota Motor Corporation
  • Mahindra & Mahindra Ltd.
  • Cruise Car, Inc.
  • Hanergy Thin Film Power Group Ltd.
  • Ford Motor Company
  • Nissan
  • Hyundai Motor Company
  • General Motors
  • MAN Trucks
  • Lightyear

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