Alternative Fuel Vehicle - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Alternative Fuel Vehicle Market is accounted for $392.92 billion in 2019 and is expected to reach $1,244.40 billion by 2027 growing at a CAGR of 15.5% during the forecast period. Shifting consumer preference towards alternative fuel vehicles and rapid decrease in oil reserves and development of efficient alternative fuel are the major factors propelling the growth of the market. However, the high initial cost of alternative fuel production is hampering the growth of the market.
Vehicles using alternative fuel have distinct advantages over conventional fuel-driven vehicles. Using alternative fuel in vehicles improves air quality and reduces the emission of greenhouse gases. However, traditional fuels such as petrol and diesel are expensive and also a major cause of environmental hazards. Biodiesel, electric and propane-based are the most common types of engines used in alternative fuel vehicles or hybrid vehicles. Biodiesel is a renewable fuel and its physical properties are similar to petroleum diesel. They provide a cleaner alternative and have less emission as compared to other conventional fuel. Ethanol is made from plant-based materials such as corn and other agro-waste materials and is combined with gasoline to be used in alternative fuel vehicle.
Based on the fuel type, the electric segment is going to have a lucrative growth during the forecast period owing to the performance and distinct advantages. The electricity-based vehicle provides an attractive prospect by offering easily chargeable and noiseless urban transportation. It comes in three types as all-electric, hybrid electric and plug-in hybrid electric vehicles. Due to the increase in popularity of electric-based cars, registrations of electrically chargeable vehicles showed double-digit gains and this factor drives the growth of alternative fuel vehicle market. The increasing availability of electric vehicles and recharging points in public or private outlets is further expected to drive the growth of the alternative fuel vehicle market.
By geography, North America is anticipated to hold considerable market share during the forecast period due to the outlined new plans to support the sales and use of alternative-fuel vehicles including cars and trucks that run on hydrogen and natural gas by the US government. They have increased the current tax credit for advanced technology vehicles to a maximum. The credit would also be broadened so that it applies to more different types of vehicles instead of just plug-in cars and this factor is majorly driving the growth of alternative fuel vehicle market in North America.
Some of the key players profiled in the Alternative Fuel Vehicle Market include Ford Motor Company, Jaguar Land Rover Limited, Toyota Motor Corporation, Hyundai Motor Company, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., Shell International B.V., BMW Group, Tesla Motors, Mitsubishi Motors, EI DuPont, Audi AG, Volkswagen AG, Daimler AG., General Motors, Beiqi Foton Motor Co., Ltd., Fiat Chrysler Automobiles, BYD Auto, Renault, and Yutong.
Vehicle Types Covered:
• Two Wheelers
• Passenger Cars
• Commercial Vehicles
• Luxury Vehicles
Fuel Types Covered:
• Gaseous Fuels
• Liquid Nitrogen
• Natural Gas
• Liquefied Petroleum Gas
• Non-Fossil Methane
• Non-Fossil Natural Gas
End Users Covered:
• Government Vehicles
• Private Fleets
• Domestic User’s Vehicle
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019 2020, 2024, and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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All the customers of this report will be entitled to receive one of the following free customization options:
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• Competitive Benchmarking
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Table of Contents
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Alternative Fuel Vehicle Market, By Vehicle Type
5.2 Two Wheelers
5.3 Passenger Cars
5.4 Commercial Vehicles
5.4.1 Light Commercial Vehicle
5.4.2 Heavy Commercial Vehicle
5.5 Luxury Vehicles
6 Global Alternative Fuel Vehicle Market, By Fuel Type
6.2 Gaseous Fuels
6.5 Liquid Nitrogen
6.9 Natural Gas
6.10 Liquefied Petroleum Gas
6.14 Non-Fossil Methane
6.15 Non-Fossil Natural Gas
7 Global Alternative Fuel Vehicle Market, By Application
8 Global Alternative Fuel Vehicle Market, By End User
8.2 Government Vehicles
8.3 Private Fleets
8.4 Domestic User’s Vehicle
9 Global Alternative Fuel Vehicle Market, By Geography
9.2 North America
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.5 Other Key Strategies
11 Company Profiling
11.1 Ford Motor Company
11.2 Jaguar Land Rover Limited
11.3 Toyota Motor Corporation
11.4 Hyundai Motor Company
11.5 Nissan Motor Co., Ltd.
11.6 Honda Motor Co., Ltd
11.7 Shell International B.V.
11.8 BMW Group
11.9 Tesla Motors
11.10 Mitsubishi Motors
11.11 EI DuPont
11.12 Audi AG
11.13 Volkswagen AG
11.14 Daimler AG.
11.15 General Motors
11.16 Beiqi Foton Motor Co., Ltd.
11.17 Fiat Chrysler Automobiles
11.18 BYD Auto
List of Tables
1 Global Alternative Fuel Vehicle Market Outlook, By Region (2018-2027) ($MN)
2 Global Alternative Fuel Vehicle Market Outlook, By Vehicle Type (2018-2027) ($MN)
3 Global Alternative Fuel Vehicle Market Outlook, By Two Wheelers (2018-2027) ($MN)
4 Global Alternative Fuel Vehicle Market Outlook, By Passenger Cars (2018-2027) ($MN)
5 Global Alternative Fuel Vehicle Market Outlook, By Commercial Vehicles (2018-2027) ($MN)
6 Global Alternative Fuel Vehicle Market Outlook, By Light Commercial Vehicle (2018-2027) ($MN)
7 Global Alternative Fuel Vehicle Market Outlook, By Heavy Commercial Vehicle (2018-2027) ($MN)
8 Global Alternative Fuel Vehicle Market Outlook, By Luxury Vehicles (2018-2027) ($MN)
9 Global Alternative Fuel Vehicle Market Outlook, By Fuel Type (2018-2027) ($MN)
10 Global Alternative Fuel Vehicle Market Outlook, By Gaseous Fuels (2018-2027) ($MN)
11 Global Alternative Fuel Vehicle Market Outlook, By Electric (2018-2027) ($MN)
12 Global Alternative Fuel Vehicle Market Outlook, By Bio-Fuels (2018-2027) ($MN)
13 Global Alternative Fuel Vehicle Market Outlook, By Liquid Nitrogen (2018-2027) ($MN)
14 Global Alternative Fuel Vehicle Market Outlook, By Bio-Diesel (2018-2027) ($MN)
15 Global Alternative Fuel Vehicle Market Outlook, By Ethanol (2018-2027) ($MN)
16 Global Alternative Fuel Vehicle Market Outlook, By Methanol (2018-2027) ($MN)
17 Global Alternative Fuel Vehicle Market Outlook, By Natural Gas (2018-2027) ($MN)
18 Global Alternative Fuel Vehicle Market Outlook, By Liquefied Petroleum Gas (2018-2027) ($MN)
19 Global Alternative Fuel Vehicle Market Outlook, By Biomass (2018-2027) ($MN)
20 Global Alternative Fuel Vehicle Market Outlook, By Propane (2018-2027) ($MN)
21 Global Alternative Fuel Vehicle Market Outlook, By Hydrogen (2018-2027) ($MN)
22 Global Alternative Fuel Vehicle Market Outlook, By Non-Fossil Methane (2018-2027) ($MN)
23 Global Alternative Fuel Vehicle Market Outlook, By Non-Fossil Natural Gas (2018-2027) ($MN)
24 Global Alternative Fuel Vehicle Market Outlook, By Application (2018-2027) ($MN)
25 Global Alternative Fuel Vehicle Market Outlook, By Transportation (2018-2027) ($MN)
26 Global Alternative Fuel Vehicle Market Outlook, By Chemical (2018-2027) ($MN)
27 Global Alternative Fuel Vehicle Market Outlook, By Agricultural (2018-2027) ($MN)
28 Global Alternative Fuel Vehicle Market Outlook, By Industrial (2018-2027) ($MN)
29 Global Alternative Fuel Vehicle Market Outlook, By End User (2018-2027) ($MN)
30 Global Alternative Fuel Vehicle Market Outlook, By Government Vehicles (2018-2027) ($MN)
31 Global Alternative Fuel Vehicle Market Outlook, By Private Fleets (2018-2027) ($MN)
32 Global Alternative Fuel Vehicle Market Outlook, By Domestic User’s Vehicle (2018-2027) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above
List of Figures
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