What is Solar Motorcycle Market?
A solar vehicle is one of the world's most environmentally friendly innovations. Provided that fossil fuels and oil are considered non-renewable resources, sourcing energy from a non-depleting source can help to drive sustainability. A solar car, or a motorcycle of this type, uses both electric and solar energy to power the vehicle. As a result, the most likely solar motorcycles will also be electric. The way solar vehicles work is that they have a built-in solar array with photovoltaic cells. These cells convert sunlight into the energy required to charge the vehicle's battery. When photons strike photovoltaic cells, users excite the electrons, allowing them to flow through and produce an electric current.
Highlights from Solar Motorcycle Market Study
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | SMA Solar Technology AG (Germany), SolarTaxi (Ghana), CAKE (Sweden), TVS (India), Zembo (France) and Atum Electric (United States) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
SMA Solar Technology AG (Germany), SolarTaxi (Ghana), CAKE (Sweden), TVS (India), Zembo (France) and Atum Electric (United States) are some of the key players profiled in the study. Solar Motorcycle Market Segmentation:
Scope | Sub-Segments |
---|
Application / End User | Commercial Vehicles and Passenger Vehicles |
Type | Standard Motorcycle and Sport Motorcycle |
Sales Channel | OEM,After Market |
By Solar Panel | Monocrystalline,Polycrystalline |
On the basis of geography, the market of Solar Motorcycle has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Launch Of Solar Motorcycle With Advanced Designs And Features By The Manufacturers
Market Growth Drivers:
Heavy Investments From Automakers In Solar Motorcycle and Growing Concern About Environmental Pollution Fuels The Growth Solar Motorcycle
Challenges:
Less Speed Range As Compared With Fuel Based Motorcycle and High Cost Associated With Solar Motorcycle
Restraints:
Slow Adoption In Some Developing And Underdeveloped Countries Due To The Lack Of Awareness
Opportunities:
Utilization Of Solar Power and Advancements In The Automotive Sector
Key Target Audience
Solar Motorcycle Manufacturers, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
On 6 October 2021, ATUM Charge has announced the launch of 10 Universal EV charging stations across 10 locations in the country. ATUM Charge is a Solar-Powered EV Charging Station. Each ATUM Charge EV Charging Station needs just about 200 square feet and takes around a week to be installed. The cost of each ATUM Charge station varies on the area available.