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Alternative Fuel Vehicle Market 2021 Breakdown Data by Regions, Type, Manufacturers and Applications 2021 to 2030

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According to Precedence Research, the alternative fuel vehicle market size is expected to reach over US$ 1,331.57 billion by 2030 from at US$ 468.83 billion in 2021, expanding growth at a CAGR of 12.3% from 2021 to 2030.

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Growth Factors

The global alternative fuel market has witnessed a significant growth rate owing the rising demand for the fuel efficient vehicles and eco-friendly transportation solutions. The stringent government regulations to curb the emission of greenhouse gases is encouraging the customers to opt for alternative fuel vehicles across the globe. The rising investments of the vehicle manufacturers in the production of alternative fuel vehicles and the government subsidies sanctioned to them is boosting the overall growth of the global alternative fuel vehicle market.

The technological advancements and increasing government investments in the development of clean transportation for public is driving the sales of electric buses. Moreover, the rising awareness among the population regarding the deteriorating environmental conditions due to the rising pollution levels is encouraging them to demand for the alternative fuel vehicles, especially in the developed markets like Europe and North America. The oil reserves are depleting rapidly across the globe. Government of various nations are heavily investing towards the development of the renewable energy sources. Hence, the alternative fuel vehicle market is estimated to grow at a rapid pace during the forecast period.

Report Highlights

Based on the vehicle type, the passenger vehicle segment dominated the global alternative fuel vehicle market in 2020. The rising disposable income, desire for luxury vehicles, and improved standard of living has significantly fostered the adoption of various passenger vehicles. Moreover, changing demographic of the middle class consumers and shifting preferences of the consumers towards eco-friendly fuel is further expected to drive the segment growth during the forecast period.

Based on the fuel type, the electric segment was the dominating segment in 2020 and is expected to be the fastest-growing segment during the forecast period. The increased pollution levels and growing initiatives of the government and the corporate sector to reduce carbon footprint in order to achieve sustainability in the long-term is rapidly boosting the adoption of the electric fuel across the globe.

Asia Pacific was the dominant alternative fuel vehicle market in 2020. The rising income levels of the consumers and growing awareness regarding the negative effects of rising pollution levels on the environment is encouraging the people to opt for alternative fuel vehicles to curb the vehicle emissions.

On the other hand, North America is expected to be the fastest-growing market. The increased disposable income of the consumers coupled with the rising demand for the sustainable and eco-friendly products is fostering the demand for the alternative fuel vehicles.

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OBJECTIVES OF THE STUDY

  • To analyze and forecast the Alternative Fuel Vehicle market, in terms of value and volume
  • To provide information about the key factors influencing the growth of the market (drivers, restraints, opportunities, and challenges)
  • To define, segment, and project the size of the global Alternative Fuel Vehicle market on the product type, end-use and other segments
  • To project the size of the market, with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East & Africa, and South America, with their key countries
  • To strategically analyze micromarkets with respect to individual growth trends, growth prospects, and their contribution to the total market
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To strategically profile key players and comprehensively analyze their core competencies
  • To track and analyze research & development (R&D) and competitive developments such as joint ventures, mergers & acquisitions, and new product developments in the Alternative Fuel Vehicle market

Research Methodology

  • Market estimate for 2021
  • Average selling price (ASP) per region for specific product type
  • Filtrations and assortment of gathered data, to estimate the base year (2021) market size for the country
  • Gathering data from company websites, annual reports, white papers, financial reports, broker reports, investor presentations, and SEC filings
  • National government documents, statistical databases
  • News articles, press releases, and webcasts specific to companies operating in the market
  • Country wise analysis through internal and external proprietary databases, and relevant patent and regulatory databases
  • Determination of market penetration by country

Major Players Covered in this Report

The updated market research report on Alternative Fuel Vehicle market allows the buyers and manufacturers to stay updated with the current market trends, ongoing happenings, and a clear picture on the market scenario. List of key players included in the research report will help the market vendors to know their market position and plan more operational strategies to gain topmost position among other players. The report offers crucial company information on each market player, such as company profile, financial information, and recently adopted growth strategies. This will help other existing players and the new entrants to plan strategies and establish their presence in the market.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

  • Company Overview
  • Company Market Share/Positioning Analysis
  • Product Offerings
  • Financial Performance
  • Recent Initiatives
  • Key Strategies Adopted by Players
  • Vendor Landscape
  • List of Suppliers
  • List of Buyers
The major players operating in the alternative fuel vehicle market are Volkswagen AG, Toyota Motor Corporation, Tesla Motors, AUDI AG, BMW Group, General Motors, Ford Motor Company, Honda Motor Co., Ltd., BYD Company Limited, Daimler AG, Zero Motorcycles, Inc., Nissan Motor Corporation, Mitsubishi Motors Corporation, Nikola Motor Company, Renault, Tata Motors, Polaris Industries, Scania.

Segments Covered in the Report

By Vehicle Type

  • Passenger Vehicle
  • Commercial Vehicle

By Fuel Type

  • Electric
  • Biofuels
  • Gas Fuels

By Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Rest of the World

Table of Content

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Sources

2.3. Assumptions & Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Market Variables and Scope 

4.1. Introduction

4.2. Market Classification and Scope

4.3. Industry Value Chain Analysis

4.3.1. Raw Material Procurement Analysis

4.3.2. Sales and Distribution Channel Analysis

4.3.3. Downstream Buyer Analysis

Chapter 5. COVID 19 Impact on Alternative Fuel Vehicle Market 

5.1. COVID-19 Landscape: Alternative Fuel Vehicle Industry Impact

5.2. COVID 19 – Impact Assessment for the Industry

5.3. COVID 19 Impact: Global Major Government Policy

5.4. Market Trends and Opportunities in the COVID-19 Landscape

Chapter 6. Market Dynamics Analysis and Trends

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.2. Market Restraints

6.1.3. Market Opportunities

6.2. Porter’s Five Forces Analysis

6.2.1. Bargaining power of suppliers

6.2.2. Bargaining power of buyers

6.2.3. Threat of substitute

6.2.4. Threat of new entrants

6.2.5. Degree of competition

Chapter 7. Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.2. Key Strategies Adopted by Players

7.1.3. Vendor Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of Buyers

Chapter 8. Global Alternative Fuel Vehicle Market, By Vehicle

8.1. Alternative Fuel Vehicle Market, by Vehicle Type, 2021-2030

8.1.1. Passenger Vehicle

8.1.1.1. Market Revenue and Forecast (2019-2030)

8.1.2. Commercial Vehicle

8.1.2.1. Market Revenue and Forecast (2019-2030)

Chapter 9. Global Alternative Fuel Vehicle Market, By Fuel

9.1. Alternative Fuel Vehicle Market, by Fuel, 2021-2030

9.1.1. Electric

9.1.1.1. Market Revenue and Forecast (2019-2030)

9.1.2. Biofuels

9.1.2.1. Market Revenue and Forecast (2019-2030)

9.1.3. Gas Fuels

9.1.3.1. Market Revenue and Forecast (2019-2030)

Chapter 10. Global Alternative Fuel Vehicle Market, Regional Estimates and Trend Forecast

10.1. North America

10.1.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.1.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.1.3. U.S.

10.1.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.1.3.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.1.4. Rest of North America

10.1.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.1.4.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.2. Europe

10.2.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.2.3. UK

10.2.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.3.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.2.4. Germany

10.2.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.4.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.2.5. France

10.2.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.5.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.2.6. Rest of Europe

10.2.6.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.2.6.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.3. APAC

10.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.3.3. India

10.3.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.3.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.3.4. China

10.3.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.4.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.3.5. Japan

10.3.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.5.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.3.6. Rest of APAC

10.3.6.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.3.6.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.4. MEA

10.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.4.3. GCC

10.4.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.3.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.4.4. North Africa

10.4.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.4.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.4.5. South Africa

10.4.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.5.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.4.6. Rest of MEA

10.4.6.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.4.6.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.5. Latin America

10.5.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.5.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.5.3. Brazil

10.5.3.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.5.3.2. Market Revenue and Forecast, by Fuel (2019-2030)

10.5.4. Rest of LATAM

10.5.4.1. Market Revenue and Forecast, by Vehicle (2019-2030)

10.5.4.2. Market Revenue and Forecast, by Fuel (2019-2030)

Chapter 11. Company Profiles

11.1. Volkswagen AG

11.1.1. Company Overview

11.1.2. Product Offerings

11.1.3. Financial Performance

11.1.4. Recent Initiatives

11.2. Toyota Motor Corporation

11.2.1. Company Overview

11.2.2. Product Offerings

11.2.3. Financial Performance

11.2.4. Recent Initiatives

11.3. Tesla Motors

11.3.1. Company Overview

11.3.2. Product Offerings

11.3.3. Financial Performance

11.3.4. Recent Initiatives

11.4. AUDI AG

11.4.1. Company Overview

11.4.2. Product Offerings

11.4.3. Financial Performance

11.4.4. Recent Initiatives

11.5. BMW Group

11.5.1. Company Overview

11.5.2. Product Offerings

11.5.3. Financial Performance

11.5.4. Recent Initiatives

11.6. General Motors

11.6.1. Company Overview

11.6.2. Product Offerings

11.6.3. Financial Performance

11.6.4. Recent Initiatives

11.7. Ford Motor Company

11.7.1. Company Overview

11.7.2. Product Offerings

11.7.3. Financial Performance

11.7.4. Recent Initiatives

11.8. Honda Motor Co., Ltd.

11.8.1. Company Overview

11.8.2. Product Offerings

11.8.3. Financial Performance

11.8.4. Recent Initiatives

11.9. BYD Company Limited

11.9.1. Company Overview

11.9.2. Product Offerings

11.9.3. Financial Performance

11.9.4. Recent Initiatives

11.10. Daimler AG

11.10.1. Company Overview

11.10.2. Product Offerings

11.10.3. Financial Performance

11.10.4. Recent Initiatives

Chapter 12. Research Methodology

12.1. Primary Research

12.2. Secondary Research

12.3. Assumptions

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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Steve Robber

My name is Steve Robber, I’m the Owner of Market Stats News. Steve has served in many positions at various organizations for the past seven years. Currently he is an Author at Finance.Yahoo. Contact us for a free news publication, we look forward to speaking with you!

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