The global solar highway market is projected to witness a double-digit compound annual growth rate during the forecast period. According to a recent study in 2016, 80% of the Earth’s surface is without roads. It is estimated that from 2010 – 2050 the roads will increase globally by more than 60%. Although roads aid in connectivity they also cause a lot of damage to the natural habitat. This innovation of Solar Highways has a positive impact on the environment. These specially designed roadways are made of material that contains photovoltaic cells that capture solar energy. The solar panels used are strong enough to bear the weight of cars and even semi-trucks. The main goal of these solar highways is to generate clean and renewable energy. The solar panels laid on the roads convert solar energy into electricity.
APAC Region to witness lucrative growth
The rise in the demand for electricity will boost the demand for solar highways in China, Japan, and South Korea. An increase in the demand for photovoltaic panels for parking lots in Asia Pacific countries like China, India, etc. will boost the market.
4.3.Porters Five Forces Analysis
4.3.1.Bargaining Power of Suppliers
4.3.2.Bargaining Power of Buyers
4.3.3.The threat of New Entrants
4.3.4.Threat of Substitutes
4.3.5.Competitive Rivalry in the Industry
4.4.Industry Value Chain Analysis
5.Global Solar Highway Market, By Material
6.Global Corporate Wellness Market Analysis, By Application
7.Global Corporate Wellness Market Analysis, by Geography
7.3.Europe Middle East and Africa
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.4.TNO – (Consortium)
9.8.Solar Earth Technologies
Solar Earth Technologies
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