Solar Vehicle Market Report 2026

The solar vehicle market size has grown exponentially in recent years. It will grow from $0.44 billion in 2025 to $0.53 billion in 2026 at a compound annual growth rate (CAGR) of 21.5%. The growth in the historic period can be attributed to advancements in electric vehicle technology, increasing environmental awareness, growth of solar energy adoption, rising demand for fuel-efficient vehicles, pilot deployment of solar vehicle models.

The solar vehicle market size is expected to see rapid growth in the next few years. It will grow to $1.08 billion in 2030 at a compound annual growth rate (CAGR) of 19.4%. The growth in the forecast period can be attributed to increasing efficiency of photovoltaic cells, expansion of charging infrastructure integration, rising investments in solar mobility startups, growing adoption in commercial transportation, increasing regulatory support for zero-emission vehicles. Major trends in the forecast period include increasing adoption of solar-integrated electric vehicles, rising demand for extended driving range solutions, growing use of advanced pv materials, expansion of solar vehicles in commercial fleets, enhanced focus on energy self-sufficiency.

The growing demand for electric vehicles (EVs) is expected to drive the growth of the solar vehicle market. EVs are powered by one or more electric motors using energy stored in rechargeable batteries or other storage devices. Their rising adoption is driven by environmental benefits, cost savings, technological advancements, energy security, regulatory support, and shifting consumer preferences. Solar technology in EVs currently serves as a supplemental energy source, and ongoing improvements in solar efficiency and vehicle integration could increase its role, offering greater energy autonomy and reducing reliance on traditional charging infrastructure. For instance, in April 2024, the International Energy Agency reported that global EV sales rose by 3.5 million units in 2023, a 35% increase over 2022. Therefore, growing EV adoption is propelling the solar vehicle market.

Major companies in the solar vehicle market are developing innovations such as fully vehicle-integrated solar arrays to enable continuous on-board energy generation, extend daily driving range without external charging, and support zero-emission mobility. These arrays generate electricity directly from the vehicle’s surfaces, reducing grid dependency and improving energy efficiency. For example, in January 2025, Aptera Motors, a US-based automotive company, launched its production-ready solar electric vehicle (sEV) at CES 2025. The sEV features a four-panel solar array on the hood, dash, roof, and hatch, providing up to 40 miles of solar-powered driving per day and a total range of 400 miles per charge. Built with an ultra-lightweight carbon-fiber sheet molding compound (CF-SMC) body, the vehicle maximizes energy efficiency while minimizing reliance on external charging.

In March 2024, Nissan Motor Corporation acquired Nissan shares from Renault Group for €358 million ($383.58 million), enhancing operational integration and decision-making processes. This acquisition is expected to strengthen synergies in technology development, manufacturing efficiencies, and global market strategies for Nissan, which is actively involved in the production of solar vehicles. Renault Group, a French automaker, is recognized for its contributions to the solar vehicle sector.

Major companies operating in the solar vehicle market report include Sono Motors GmbH, Aptera Motors Corp., Lightyear, Hanergy Holding Group, Sunswift Solar Racing Team, Venturi Automobiles, Cruise Car Inc., Squad Mobility B.V., Solar Electric Vehicle Company, Daymak Inc., Nimbus Vehicles, ElectraMeccanica, Astrolab, EdisonFuture, Mahindra and Mahindra Ltd., Toyota Motor Corporation, Hyundai Motor Company, Fisker Inc., Bollore Group, Solaris Bus and Coach SA, Suzhou Eagle Electric Vehicle Manufacturing Co. Ltd., Karma Automotive LLC, GreenPower Motor Company, Solar Team Eindhoven, EVX Ventures.

North America was the largest region in the solar vehicle market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the solar vehicle market report include Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solar vehicle market report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The solar vehicle market consists of sales of solar electric buses, solar-powered boats, solar-powered UAVs, solar-powered scooters, and solar-powered charging stations. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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