Solar Powered Electric Vehicle Market size is estimated to grow at a CAGR of 35%.
The Solar Powered Electric Vehicle Market reached a valuation of USD 337.16 million in 2022. With an estimated compound annual growth rate (CAGR) of 35%, the market is expected to achieve a remarkable value of USD 2.76 billion by 2029. Environmental Concerns: Increasing awareness of carbon emissions and their detrimental impact on the environment is driving the adoption of solar-powered electric vehicles. According to the US Environmental Protection Agency (EPA), a typical passenger vehicle emits around 4.6 metric tonnes of carbon dioxide annually. Solar vehicles offer a sustainable solution to this problem.
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