Press release
Alternative Fuel Vehicles Market Expands with Key Drivers and Lucrative Growth || Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, General Motors Company, Mitsubishi Motors Corporation
Alternative Fuel Vehicles Market
The Business Research Company offers in-depth market insights through Alternative Fuel Vehicles Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The alternative fuel vehicles market size has grown rapidly in recent years. It will grow from $527.77 billion in 2023 to $628.58 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%. The growth in the historic period can be attributed to oil price volatility, environmental awareness, energy security concerns, infrastructure development, automaker investments and innovation.
The alternative fuel vehicles market size is expected to see rapid growth in the next few years. It will grow to $1244.04 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The growth in the forecast period can be attributed to consumer acceptance and preferences, global expansion and market penetration, market competitiveness and cost reduction, rise in environmental concerns, continued regulatory support. Major trends in the forecast period include hydrogen fuel cell development, biofuels and sustainable sources, electric vehicle growth, regulatory push for low emissions, expansion of charging infrastructure.
Get Free Sample Of This Report-
https://www.thebusinessresearchcompany.com/sample.aspx?id=7108&type=smp
Market Segmentation:
The alternative fuel vehicles market covered in this report is segmented -
1) By Fuel Type: CNG, Hydrogen, Electric, Other Fuel Types
2) By Vehicle Type: Passenger Cars, Commercial Vehicle
3) By Application: Transportation, Chemical, Agricultural, Industrial, Other Applications
Major Driver - Escalating Fossil Fuel Prices Drive Adoption Of Alternative Fuel Vehicles
The rising prices of fossil fuels are expected to propel the growth of the alternative fuel vehicles market going forward. Fossil fuel refers to hydrocarbon-containing materials of biological origin occurring within the earth's crust that can be used as a source of energy. Owing to the rising fuel prices the developing and underdeveloped countries are depending on foreign countries to import fossil fuels significantly which will increase the pressure on emerging economies leading to a boost in the demand for the alternative fuel vehicles market. This results in the increasing adoption of vehicles that run on alternative fuels such as CNG, hydrogen, electric vehicles, and others. For instance, in 2021, according to The International Energy Agency, a France-based intergovernmental organization, the price of crude oil rose from $20 per barrel in mid-2020 to approximately $70 per barrel in mid-2021. Therefore, the rising prices of fossil fuels are driving the alternative fuel vehicles market.
Competitive Landscape:
Major companies operating in the alternative fuel vehicles market report are Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, General Motors Company, Mitsubishi Motors Corporation, Bayerische Motoren Werke AG, Honda Motor Co. Ltd., Hyundai Motor Company, Tesla Inc., Nissan Motor Co. Ltd., BYD Auto Co. Ltd., BYD Company Limited, Zhejiang Geely Holding Group Co. Ltd, NIO Inc., Arrival Ltd., Xpeng Inc., Rivian Automotive Inc., Lucid Motors Inc., Faraday Future Inc., Proterra Inc., Karma Automotive LLC, Lordstown Motors Corp., Mahindra Electric Mobility Limited, Workhorse Group Inc., Canoo Inc., Bollinger Motors LLC, Lightning eMotors Inc., Arcimoto Inc., Fisker Inc., Atlis Motor Vehicles Inc., Aptera Motors Corp., ElectraMeccanica Vehicles Corp., Lion Electric Company, Elio Motors Inc., Nikola Corporation, Hino Motors Ltd., Tata Motors Limited, SAIC Motor Corporation Limited, Zhongtong Bus Holding Co. Ltd., Xiaopeng Motors, Volta Trucks Limited
Get Access To The Full Market Report -
https://www.thebusinessresearchcompany.com/report/alternative-fuel-vehicles-global-market-report
Top Trend - Strategic Partnership For Advancing Alternative Fuel Vehicles
Major companies operating in the alternative fuel vehicles market are adopting a strategic partnership approach to enhance innovation and expand market reach. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in September 2022, Ferguson Enterprises LLC, a US-based distributor of plumbing supplies collaborated with Ford Motor Company, a US-based automobile manufacturer to develop alternative fuel sources. This pilot program seeks to assess the performance of fuel cell technology within the Ferguson fleet and simultaneously offer Ford valuable real-world usage data. Ferguson will furnish Ford with vehicle data and insights on the technology, assisting Ford in refining the engineering specifications for commercial vehicle duty cycles.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Alternative Fuel Vehicles Market Characteristics
3. Alternative Fuel Vehicles Market Trends And Strategies
4. Alternative Fuel Vehicles Market - Macro Economic Scenario
5. Alternative Fuel Vehicles Market Size And Growth
…..
27. Alternative Fuel Vehicles Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Alternative Fuel Vehicles Market Expands with Key Drivers and Lucrative Growth || Volkswagen AG, Toyota Motor Corporation, Ford Motor Company, General Motors Company, Mitsubishi Motors Corporation here
News-ID: 3412873 • Views: …
More Releases from The Business research company
Evolving Market Trends In The Integrated Geophysical Services Industry: Enhancin …
The Integrated Geophysical Services Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Integrated Geophysical Services Market Size During the Forecast Period?
The integrated geophysical services market has experienced consistent growth in recent years, expected to rise from $2.35 billion in 2024 to…
Global HR Advisory Services Market: Key Trends, Market Share, Growth Drivers, An …
The HR advisory services market report describes and explains the HR advisory services market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global HR advisory services market reached a value of nearly $155.74 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.22% since…
High Voltage Aluminium Electrolytic Capacitors Global Market Report 2025: Size, …
The high voltage aluminum electrolytic capacitors report describes and explains the high voltage aluminum electrolytic capacitors market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global high voltage aluminum electrolytic capacitors market reached a value of nearly $4.10301 billion in 2024, having grown at a compound annual growth…
Global Vertical Market Software Market: Key Trends, Market Share, Growth Drivers …
The vertical market software report describes and explains the vertical market software market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global vertical market software market reached a value of nearly $152.61027 billion in 2024, having grown at a compound annual growth rate (CAGR) of 12.11% since 2019.…
More Releases for Motor
SUV Market 2021 Precise Outlook- Honda Motor, Toyota Motor, Nissan Motor, Ford M …
The report presents an in-depth assessment of the SUV Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for SUV from 2021 till 2027. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and…
Electric Vehicle Motor Market by Type (Alternate Current (AC) Motor (Synchronous …
Electric vehicle motor is an electromechanical device used to provide power to electric vehicles by converting electric energy into mechanical energy. This phenomenon is achieved by the interaction of electric motors magnetic field and current. Electric vehicle motor comprises bearings, end bracket, frame, cooling frame, rotor, and stator. The electric vehicle motor market is expected to witness lucrative growth during the forecast period due to increase in the number of…
Passenger Vehicle Market Outlook to 2025 - Top Leading Players Toyota Motor, Vol …
Worldwide Passenger Vehicle Market Analysis to 2025 is a specialized and in-depth study of the Passenger Vehicle Industry with a focus on the global market trend. The report aims to provide an overview of global Passenger Vehicle Market with detailed market segmentation by product/application and geography. The global Passenger Vehicle Market is expected to witness high growth during the forecast period. The report provides key statistics on the Market status…
Micro Motor Industry - Johnson Electric, Siemens, Mitsuba Corporation, Nidec Mot …
Global Micro Motor Market is set to rise from its initial estimated value of USD 28.13 billion in 2018 to an estimated value of USD 39.86 billion, registering a CAGR of 4.45% in the forecast period of 2019-2026. This projected rise in the value can be attributed to the increasing applications and demand from the various segments of the market.
Get Sample Copy of this Report @ https://databridgemarketresearch.com/request-a-sample/?dbmr=global-micro-motor-market
Key Market Competitors: Global…
Electric Vehicles Market 2030 | Honda Motor Co., Ltd., Ford Motor, Toyota Motor …
A Research Report Insights (RRI) report reveals that the global market for electric vehicles is set to cross US$ 99 Billion in terms of value by 2016 end. As per the report, the market is expected to reach US$ 596.56 Billion by 2030, riding on a CAGR of 15.6%.
Increasing demand for clean and green energy and rise in global air pollution is compelling socio-economic institutions to rethink over the structures…
Electric Vehicle Motor Market by Type (Alternate Current (AC) Motor (Synchronous …
Electric vehicle motor is an electromechanical device used to provide power to electric vehicles by converting electric energy into mechanical energy. This phenomenon is achieved by the interaction of electric motors magnetic field and current. Electric vehicle motor comprises bearings, end bracket, frame, cooling frame, rotor, and stator.
Access Full Report: https://www.alliedmarketresearch.com/electric-vehicle-motor-market
The electric vehicle motor market is expected to witness lucrative growth during the forecast period due to increase in…
