Alternative Fuel Vehicle Market
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
• Electric
• Bio-Fuels
• Liquid Nitrogen
• Bio-Diesel
• Ethanol
• Methanol
• Natural Gas
• Liquefied Petroleum Gas
• Biomass
• Propane
• Hydrogen
• Non-Fossil Methane
• Non-Fossil Natural Gas
Applications Covered:
• Transportation
• Chemical
• Agricultural
• Industrial
End Users Covered:
• Government Vehicles
• Private Fleets
• Domestic User’s Vehicle
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
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
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliance
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
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
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
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
5.1 Introduction
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
6.1 Introduction
6.2 Gaseous Fuels
6.3 Electric
6.4 Bio-Fuels
6.5 Liquid Nitrogen
6.6 Bio-Diesel
6.7 Ethanol
6.8 Methanol
6.9 Natural Gas
6.10 Liquefied Petroleum Gas
6.11 Biomass
6.12 Propane
6.13 Hydrogen
6.14 Non-Fossil Methane
6.15 Non-Fossil Natural Gas
7 Global Alternative Fuel Vehicle Market, By Application
7.1 Introduction
7.2 Transportation
7.3 Chemical
7.4 Agricultural
7.5 Industrial
8 Global Alternative Fuel Vehicle Market, By End User
8.1 Introduction
8.2 Government Vehicles
8.3 Private Fleets
8.4 Domestic User’s Vehicle
9 Global Alternative Fuel Vehicle Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
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
10.4 Expansions
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
11.19 Renault
11.20 Yutong
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
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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