Alternative fuel and hybrid vehicles (AFHV) run on fuels other than conventional types such as gasoline and diesel. The depletion of oil reserve at an alarming rate has given rise to the adoption of these vehicles across the globe. In addition, these vehicles emit less harmful compounds such as oxides of carbon, nitrogen, and sulfur as their exhaust, thus making AFHV eco-friendly. Moreover, electric vehicles use electricity as their power source, in which electric energy is stored in the vehicular batteries and can be recharged at charging stations. On the other hand, hybrid vehicles use both conventional and alternative fuels as a source of power. Passengers can actually switch between these two powers while driving as per their feasibility and usage. China is a potential market of AFHV as it has the maximum percentage of electric vehicles across the globe. As per the Global EV Outlook 2015, China holds 230 million e-bikes, 83,000 e-cars, and 36,500 e-buses. Numerous players such as Toyota Motor Corporation and Tesla Motors, Inc. are regularly manufacturing AFHV. For instance, Tesla Motors, Inc. launched Model S, the fastest electric car for its customers globally.
Increase in demand of fuel-efficient vehicles, stringent government laws and regulations toward vehicular emission, and increase in growth of public charging infrastructure drives the market growth. Also, depletion of fossil fuels such as coal, gasoline, and diesel and increase in prices of fossil fuels are the other factors that propel the market growth. However, high initial cost of vehicle and low fuel economy hamper the market growth. Moreover, advancement in alternative fuel technologies and increase in government initiatives, such as investment in electric and hybrid buses, are expected to create huge opportunities for the growth of market in the coming years.
The market is segmented on the basis of alternative fuel type, vehicle type, and geography. Alternative fuel type segment is further divided into gaseous fuels (LPG, CNG, and LNG), electric, and others (biofuel, biodiesel, fuel cell, liquid nitrogen, and dimethyl ether). Moreover, vehicle type segment is classified into electric two wheelers, passenger cars (battery electric vehicle (BEV), hybrid electric vehicle (HEV), alternative fuel passenger cars), and commercial vehicle (battery electric vehicle (BEV), hybrid electric vehicle (HEV), alternative fuel commercial vehicle). Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA regions. North America comprises the U.S., Canada, and Mexico. Europe includes Germany, France, The Netherlands, Norway, UK, and rest of Europe. Asia-Pacific consists of China, Japan, South Korea, India, and rest of Asia-Pacific. Latin America, Middle East, and Africa are considered in the LAMEA region.
The key players operating in the AFHV market are Toyota Motor Corporation (Japan), Tesla Motors (U.S.), AUDI AG (Germany), BMW Group (Germany), General Motors (U.S.), Ford Motor Company (U.S.), Honda Motor Co., Ltd. (Japan), BYD Company Limited (China), Daimler AG (Germany), and Zero Motorcycles, Inc. (U.S.)
ALTERNATIVE FUEL AND HYBRID VEHICLE SEGMENTATION
BY ALTERNATIVE FUEL TYPE
BY VEHICLE TYPE
Other players in value chain include (profiles not included in the report)
SIMILAR MARKET STUDIES
Automotive Balance Shaft Market by Manufacturing Process (Forging and Casting), Engine Type (Inline-3 Cylinder Engine, Inline-4 Cylinder Engine, Inline-5 Cylinder Engine, and V6 Engine), and Vehicle Type (Passenger Cars, Light Commercial Vehicle, and Heavy Commercial Vehicle) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Eccentric weighted shaft is known to offset vibrations in an engine design not immanently balanced. Furthermore, the shaft vibrates and rotates in a way that can lower the vibration. These shafts are the most complicated parts that need to be developed precisely to ensure its compatibility with the automobile engine.
September 2017 | $5370 | View Details >>
Autonomous Emergency Braking System Market by Product Type (Low-speed AEBS and High-speed AEBS), Technology (Crash Imminent Braking, and Dynamic Brake Support), and Vehicle type (Passenger Vehicle and Commercial Vehicle) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Autonomous emergency braking system (AEBS) is a feature that improves the safety of the vehicle by warning the driver about an imminent crash and helps to use the maximum braking capacity of the car. It applies brakes independently if the situation becomes critical and no human response is made. It ...
September 2017 | $5370 | View Details >>
Automotive Camera Module is defined as a housing containing an image sensor, a processor, a lens, a buffer, and connector points; in addition, some system specific software and any other elements may be required before the camera module can be installed in a space defined by the vehicle manufacturer. Scope of ...
September 2017 | $3480 | View Details >>
In this report, the global Automotive Adaptive Fog Lights market is valued at USD XX million in 2016 and is expected to reach USD XX million by the end of 2022, growing at a CAGR of XX% between 2016 and 2022. Geographically, this report is segmented into several key Regions, with ...
September 2017 | $2900 | View Details >>
UPCOMING MARKET RESEARCH REPORTS
2017 © Copyright Big Market Research