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Explore Industry Insights in Global Low Emission Vehicle Market Size, Share, Development, Growth and Demand Forecast to 2023
Low Emission Vehicle Market
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The ground level ozone, particulate matter, volatile organic compounds and nitrogen oxides are some of the primary pollutants, which are present in emissions. Air pollution leads to several diseases, such as asthma, lung cancer and cardiovascular disease. As the number of cases for illness has increased, the government is more focused towards amendment of emission standards and health hazards related with harmful compounds.
With the increase in monitoring duties, several guidelines have also been implemented for the amount of fuel usage in low emission vehicle. The favorable government proposals in capitalizing for innovative low emission technologies are expected to reduce the usage of fossil fuel, which will further decrease the air pollution. This has offered opportunities for enhancing the automotive supply chain and has also encouraged the competitors in the market for investing in development of low carbon technologies. The growth of environment friendly automotive companies is positively influenced by low emission vehicle.
The improvisation of automotive components and enhancements in fuel efficiency for providing the renewable fuels are expected to drive the innovation in low emission vehicle. Decarburization in freight and aviation sector is up surging, due to increasing developments in biofuels market. The competitors are increasingly focusing on research and development activities for developing fuel efficient vehicles, due to increasing consumer awareness about low emission vehicle.
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Some of the competitors in the global market are Mitsubishi Motors Corporation, Toyota Motor Corporation, Nissan Motor Co Ltd., Volkswagen AG, Honeywell International Inc., and Bayerische Motoren Werke AG.
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