Solar Vehicle Market Global Industry Overview, Sales Revenue, Demand and Forecast by 2025
The global solar vehicle market is currently witnessing robust growth. Solar vehicles are electric automobiles equipped with monocrystalline and polycrystalline solar panels that assist in converting sunlight into electricity. These vehicles are cost-effective and environment friendly as they rely on renewable energy and do not produce noise pollution. Besides this, as they are easy to charge and require less maintenance than conventional cars, their sales are increasing across the globe. With the rising environmental concerns, governments of numerous countries are undertaking initiatives to minimize carbon emissions from vehicles. Consequently, they are encouraging the utilization of solar vehicles by offering subsidies and other financial benefits. Apart from this, leading automobile manufacturers are focusing on the development of solar vehicles to expand their consumer base. These manufacturers are also integrating technologically advanced components to reduc...