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Alternative Powertrain Market 2023 : Trends, Business Growth And Major Driving Factors | Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Group, BYD Company Ltd., Daimler Truck AG
Alternative Powertrain Market
Alternative Powertrain Market Size, Growth Rate, And Forecast
The global alternative powertrain market size is expected to grow from $90.61 billion in 2022 to $109.50 billion in 2023 at a compound annual growth rate (CAGR) of 20.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global alternative powertrain market size is expected to grow to $225.87 billion in 2027 at a CAGR of 19.8%.
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Alternative Powertrain Market Drivers
The rise in demand for fuel-efficient vehicles is expected to boost the growth of the alternative powertrain market going forward. Fuel-efficient vehicles refer to automobiles with a minimum green score of 40 on the American Council for an Energy-Efficient Economy's (ACEEE) yearly vehicle rating guide. Technologically sophisticated alternative powertrains aid in lowering fuel consumption, which increases the vehicle's fuel efficiency.
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Alternative Powertrain Market Segments
1) By Powertrain: Battery Electric Vehicle Powertrain, Hybrid Powertrain
2) By Component: Battery, Motor or Generator, Battery Management System (BMS), On-Board Charger
3) By Application: Commercial Vehicle, Passenger Cars, Off Highway
By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Alternative Powertrain market.
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Alternative Powertrain Market Key Players
Major players in the alternative powertrain market are Toyota Motor Corporation, Honda Motor Co. Ltd., Hyundai Motor Group, BYD Company Ltd., Daimler Truck AG., Nissan Motor Co. Ltd., Allison Transmission Inc., BMW AG, The General Motors Company, BAIC Group, Tesla Inc., Renault-Nissan-Mitsubishi, Yuchai International Imp & Exp (Beijing) Co. Ltd., Geely Auto, and Volvo Cars.
The Business Research Company's "Global Alternative Powertrain Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Alternative Powertrain Market Include:
1. Executive Summary
2. Alternative Powertrain Market Characteristics
3. Alternative Powertrain Market Trends And Strategies
4. Alternative Powertrain Market - Macro Economic Scenario
5. Alternative Powertrain Market Size And Growth
……
27. Alternative Powertrain Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Alternative Powertrain Market
29. Alternative Powertrain Market Future Outlook and Potential Analysis
30. Appendix
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