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Solar Highway: Future Highway Technology

  • Solar highway is a technology used for collection of solar energy through photovoltaic cells incorporated on specially designed roadways and driveways. Solar highway is an expensive technology owing to the high manufacturing cost and limited availability of material and service providers across the world.
  • Solar highway is a combination of transparent driving surface of underlying solar cells, sensors, and electronics to function with the circuits of solar arrays. The road panels of solar highways are specially made from recycled materials PV cells are incorporated into the road surface.
  • Solar highway is developed for the primary purpose to generate clean and renewable energy from long roadways. The solar highway technology can also be utilized for bikes paths, playgrounds, pools, and courtyards. Solar highways contain solar panels on which driving and walking is possible.
  • Few companies have developed a specially engineered solar panels made of glass for the highway. The glass is not an ordinary glass, a specifically formulated tempered glass which can support the weight of cars and semi-trucks. The surface can also provide traction equivalent to asphalt. 

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Key Drivers of Solar Highway Market

  • Increasing demand for renewable energy, including solar energy, across the globe is projected to fuel the solar highway market in the near future, due to the significant advancements in solar technology and improved R&D from major companies.
  • Solar highway is the latest technology for open roadways owing to the current R&D on developing efficient photovoltaic materials to convert solar energy to electric power. Some companies have successfully developed solar panels for roadways, which can generate around 410-kilowatt hours per day. This key development is projected to fuel the demand for solar highway around the globe in the near future.
  • Major countries such as China and France are increasing their focus and R&D initiatives for the development of highly efficient photovoltaic materials in order to increase efficiency to convert solar energy into electric power. This key development across the word is likely to boost the solar highway market during the forecast period.
  • The solar industry is projected to witness significant expansion during the forecast period owing to reducing cost of solar photovoltaic components across the globe. This factor is likely to boost the demand for solar highways in the near future. 

Improved R&D in solar technology to offer attractive opportunities

  • Solar highway is gaining momentum in the solar industry owing to the attractive application and durability of components. This, in turn, is projected to offer lucrative opportunities to recharge car batteries.
  • The U.S.-based Wattway Inc., a solar highway company, has successfully developed & implemented a solar highway that can power LED lights and melts snow from the solar energy. This key development by the company is projected to boost the demand for solar highway in the next few years.
  • Rising research activities and increasing funds and FDI investment in the field of solar highways, especially in France, the U.S., and China, are projected to offer significant opportunity to manufacturers of solar highway components in the near future.
  • China is likely to implement solar integrated technology known as “Autonomous Driving Future”, which consist of solar panels, mapping sensors, and electric battery rechargers. This technology can recharge moving electric cars for a 1,080 meter long stretch in China. This emerging technology is likely to provide electricity to over 800 homes through the solar powered highway. 

High investment cost and complex glass manufacturing to hamper market

  • Solar highway technology is highly expensive as compared to other alternatives of solar power generation, due to various costs associated with it such R&D, production, installation, maintenance, and implementation. This is a key factor that is projected to hamper the solar highway market in the near future.
  • The manufacturing cost of special type surface panels made from glass is very high, owing to the limited availability of manufacturing technology. This is turn is estimated to restrain the solar highway market during the forecast period.
  • Furthermore, limited availability of raw materials, components, and solar panels for highways is another key factor that is likely to restrain solar highway market in the near future.
  • Solar highway technology is associated with the number of complexity in components manufacturing and implementation due to limited political acceptance to implement this technology across several nations. Most emerging countries are likely to use alternate solutions. This is also likely to hamper the solar highway market in the near future. 

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Asia Pacific is expected to hold lion’s share in the global solar highway market

  • In terms of region, the global solar highway can be split into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
  • The solar highway market in Asia Pacific is projected to expand at a rapid pace during the forecast period. Rising demand for electricity in China, Japan, and South Korea is expected to fuel the demand for solar highway during the forecast period.
  • Additionally, rising demand for solar photo voltaic panels for parking lots in the building & construction industry across developing countries in Asia Pacific such as China, India, Indonesia, and Vietnam is projected to offer lucrative opportunities to providers of solar highway providers operating in the region.
  • Europe is likely to follow Asia Pacific, in terms of share of the global solar highway market during the forecast period, owing to rising R&D investment in the solar industry, especially in technologically advanced countries such as the Germany, France, and the U.K., in the region. 

Key players operating in the market

The solar highway market is competitive in nature, due to the presence of limited number of manufacturers across the globe. Key players operating in the global solar highway market are

  • Solar Roadways Inc.
  • Wattway
  • Shandong Pavenergy 

Global Solar Highway Market: Research Scope 

Global Solar Highway Market, by Material

  • Monocrystalline Silicon
  • Polycrystalline Silicon

Global Solar Highway Market, by Application

  • Driveways
  • Parking Lots

Global Solar Highway Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

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3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Solar Highway Market