openPR Logo
Press release

Zero Emission Vehicle Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends

03-05-2025 07:01 AM CET | Logistics & Transport

Press release from: The Business Research Company

Zero Emission Vehicle Market

Zero Emission Vehicle Market

What combination of drivers is leading to accelerated growth in the zero emission vehicle market?
The upward trend in fuel costs plays a significant role in the advancement of the zero-emission vehicle market. The term 'fuel price' pertains to the average expenses for a gallon of motor vehicle fuel. Zero-emission vehicles are effective in curbing fuel expenditures and enhancing fuel efficiency, which are essential factors given the climbing fuel costs. For example, data unveiled by the United States Department of Transportation, a government body in the US tasked with gathering data relevant to US transportation, in August 2022 shows a rise in the worldwide cost of transportation fuel from roughly $2.19 per gallon in January 2021 to $3.21 per gallon in January 2023. Thus, the escalating fuel prices will undoubtedly support the growth of the zero-emission vehicle market.

Get Your Zero Emission Vehicle Market Report Here:
https://www.thebusinessresearchcompany.com/report/zero-emission-vehicle-global-market-report

What is the projected compound annual growth rate (CAGR) of the zero emission vehicle market from 2025 to 2034, and what factors influence it?
In recent years, the size of the zero emission vehicle market has seen an exponential increase. It is projected to expand from $271.92 billion in 2024 to $338.95 billion in 2025, recording a compound annual growth rate (CAGR) of 24.7%. The past growth can be ascribed to factors such as environmental concerns, government regulations, public interest and awareness, decreased operational costs and investment in charging infrastructure.

In the subsequent years, a steep upward trend is anticipated in the zero emission vehicle market's size. Projected to escalate to $771.76 billion by 2029, this sector will compound at an annual growth rate of 22.8%. Factors contributing to this projected expansion during the forecast period include government pledges towards decarbonization, expanded charging infrastructure, car manufacturer's commitments towards electrification, fiscal incentives and tax reductions, as well as increasing fuel costs. Key developments expected throughout the forecasting horizon comprise advancements in battery technology, innovative breakthroughs in vehicle design, a wider vehicle range, and enhanced energy recovery during braking.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=12258&type=smp

How are the latest trends influencing the growth of the zero emission vehicle market?
Product innovation is increasingly becoming a trend in the zero-emission vehicle industry. The focus for the companies operating within this field is to create vehicles that not only have zero emissions but also have extended functionality and broader use. For example, in May 2023, Daimler Truck AG, a well-known commercial vehicle manufacturer from Germany, introduced a new range of zero-emission electric trucks named RIZON. These new trucks are customizable to the specific needs of each client, therefore enhancing their regular operations and overall efficiency. The target market for these zero-emission vehicles is businesses engaged in urban retail logistics activities and are perfectly designed for various functions such as dry vans, flatbeds, landscaping dumps and reefers.

What are the major segments of the zero emission vehicle market and their role in driving growth?
The zero emission vehicle market covered in this report is segmented -

1) By Vehicle Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Fuel Cell Electric Vehicle (FCEV)
2) By Vehicle Drive Type: Front Wheel Drive, Rear Wheel Drive, All Wheel Drive
3) By Source Of Power: Gasoline, Diesel, Compressed Natural Gas (CNG), Other Sources Of Power
4) By Application: Commercial Vehicle, Passenger Vehicle, Two Wheelers
5) By End-Use Industry: Government, Public Transportation, Logistics

Subsegments:
1) By Battery Electric Vehicle (BEV): Small BEVs, Medium BEVs, Large BEVs
2) By Plug-In Hybrid Electric Vehicle (PHEV): Compact PHEV, Midsize PHEV, Luxury PHEV
3) By Fuel Cell Electric Vehicle (FCEV): Passenger FCEV, Commercial FCEV

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=12258

Which regions are key players in the growth of the zero emission vehicle market?
North America was the largest region in the zero-emission vehicle market in 2024. Asia-Pacific is expected to be the fastest-growing region in the zero-emission vehicle market report during the forecast period. The regions covered in the zero-emission vehicle market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the zero emission vehicle market?
Major companies operating in the zero emission vehicle market include Volkswagen AG, Toyota Motor Corporation, Mercedes-Benz Group AG, Ford Motor Company, General Motors, Bayerische Motoren Werke AG, Hyundai Motor Company, Tesla Inc., Nissan Motor Co. Ltd., Audi AG, Kia Corporation, BYD Company Limited, Nikola Corporation, Renault Group, AB Volvo, Porsche AG, Jaguar Land Rover Automotive PLC, Geely Automobile Holdings Limited, NIO Inc, Xpeng Inc., Rivian Automotive LLC, Lucid Group Inc, Faraday Future Intelligent Electric Inc., Proterra Inc., Energica Motor Company S.p.A., Electrameccanica Vehicles Corp., Bollinger Motors, Workhorse Group Inc., Fisker Inc., Lordstown Motors Corp.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=12258&type=smp

What Is Covered In The Zero Emission Vehicle Global Market Report?

• Market Size Forecast: Examine the zero emission vehicle market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the zero emission vehicle market for a structured understanding.
• Key Players Overview: Analyze major players in the zero emission vehicle market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the zero emission vehicle market.
• Segment Contributions: Evaluate how different segments drive overall growth in the zero emission vehicle market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the zero emission vehicle market.
• Industry Challenges: Identify potential risks and obstacles affecting the zero emission vehicle market.
• Competitive Landscape: Review strategic developments in the zero emission vehicle market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

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 Zero Emission Vehicle Market Forecast 2025-2034: Evaluating Growth Factors, Segments, and Emerging Trends here

News-ID: 3897964 • Views:

More Releases from The Business Research Company

Global Double-Sided Masking Tapes Market Expansion at 7.8% CAGR, Valued at $18.43 Billion by 2029
Global Double-Sided Masking Tapes Market Expansion at 7.8% CAGR, Valued at $18.4 …
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide. What Are the Double-Sided Masking Tapes Market Size Forecast for 2025? The market size of double-sided masking tapes has been experiencing consistent growth in recent years. The market will increase from a figure of $13.01 billion in 2024 to about $13.64 billion in 2025, demonstrating a compound annual growth rate
Construction Adhesives Market on Path to Hit $18.32 Billion by 2029 at 9% CAGR
Construction Adhesives Market on Path to Hit $18.32 Billion by 2029 at 9% CAGR
Use ONLINE30 for 30% savings on global market reports and stay on top of tariff updates, market trends, and economic shifts worldwide. Construction Adhesives Market Outlook: What Size And CAGR Are Anticipated By 2025? There has been a robust growth in the size of the construction adhesives market in the recent past. The market that was at $12.06 billion in 2024 is projected to rise to $12.95 billion in 2025, with a
Future of Chromatography Resins Market: Size, Share & Forecasts to 2029
Future of Chromatography Resins Market: Size, Share & Forecasts to 2029
Stay informed on tariff shifts, macro trends, and global economic changes-use code ONLINE30 to enjoy 30% off our global market reports. What Is the Projected Market Size Valuation of the Chromatography Resins Market by 2025? In recent years, the market size of chromatography resins has experienced significant growth. Starting from a value of $2.95 billion in 2024, it is predicted to increase to $3.15 billion in 2025 with a compound annual growth
Blow-Molded Plastics Industry Set to Achieve $128.73 Billion Milestone by 2029 | Steady 6.7% CAGR
Blow-Molded Plastics Industry Set to Achieve $128.73 Billion Milestone by 2029 | …
Get 30% off global market reports with code ONLINE30 and keep ahead of tariffs, macro trends, and worldwide economic developments. What Is the Long-Term Growth Forecast for the Blow-Molded Plastics Market Size 2025? The market size of blow-molded plastics has seen constant enlargement in the previous few years. It is expected to rise from $97.17 billion in 2024 to $99.31 billion in 2025, at a compound annual growth rate (CAGR) of

All 5 Releases


More Releases for Vehicle

Transformative Trends Impacting the Vehicle-to-Vehicle (V2V) Communication Marke …
Stay ahead with our updated market reports featuring the latest on tariffs, trade flows, and supply chain transformations. How Large Will the Vehicle-to-Vehicle (V2V) Communication Market Size By 2025? The size of the vehicle-to-vehicle (V2V) communication market has seen significant expansion in the most recent years. The market is projected to surge from $24.28 billion in 2024 to $27.1 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 11.6%. The
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to the report published by Allied Market Research, the global electric vehicle motor market generated $5.5 billion in 2021, and is estimated to reach $34.4 billion by 2031, witnessing a CAGR of 20.3% from 2022 to 2031. Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the growth of the Asia-Pacific market. Moreover, various technological
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
According to a recent report published by Allied Market Research, titled,"Truck Platooning Market by Technology, Platooning Type, and Communication Technology: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"the global truck platooning market size was valued at $500.9 million in 2017, and is projected to reach $4,590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025. To Explore More, Download Sample Report: https://www.alliedmarketresearch.com/request-sample/5245 Global truck platooning market is segmented
Electric Vehicle Motor Market : Battery Electric Vehicle, Plugin Hybrid Vehicle, …
According to a new report published by Allied Market Research, titled, "Electric Vehicle Motor Market," The global electric vehicle motor market was valued at $5.5 billion in 2021, and is projected to reach $34.4 billion by 2031, growing at a CAGR of 20.3% from 2022 to 2031. Asia-Pacific is expected to dominate the global electric vehicle motor market. An increase in vehicle population and a rise in vehicle standards fuel the
Electric Vehicle Power Inverter Market : Hybrid Vehicle, Plug in Hybrid Vehicle, …
The electric vehicle power inverter market was valued at $8.67 billion in 2021, and is estimated to reach $22.25 billion by 2031, growing at a CAGR of 10.4% from 2022 to 2031. Download Sample Report at https://www.alliedmarketresearch.com/request-sample/9122 Factors that drive the growth of the electric vehicle power inverter market are increase in demand for electric vehicles, proactive government initiatives for the development of electric vehicle, and surge in demand for low-emission and
Truck Platooning Market : Vehicle-to-infrastructure (V2I), Vehicle-to-vehicle (V …
The global truck platooning market size was valued at $500.9 million in 2017 and is projected to reach $4590.3 million by 2025, registering a CAGR of 32.4% from 2018 to 2025 by Technology (Adaptive Cruise Control (ACC), Blind Spot Warning (BSW), Global Positioning System (GPS), Forward Collision Warning (FCW), Lane Keep Assist (LKA), and Others), Platooning type (Driver-Assistive Tuck Platooning (DATP) and Autonomous Truck Platooning), and Communication Technology (Vehicle-to-infrastructure (V2I),