Zero Emission Vehicle Market By Vehicle Type (BEV, PHEV, FCEV, Solar Vehicles), By Vehicle Class (Passenger Cars, Commercial Vehicles, Two Wheelers), By Price (Mid-Priced, Luxury), By Vehicle Drive Type (Front Wheel Drive, Rear Wheel Drive, All Wheel Drive), By Top Speed (Less Than 100 MPH, 100 to 125 MPH, More Than 125 MPH): Global Opportunity Analysis and Industry Forecast, 2021-2031
The report incorporates the study of the global zero emission vehicle market that focuses on the type of electric vehicles and alternative fuels used in different vehicles. Zero emission vehicles (ZEVs) are any vehicle that releases zero, or nearly zero, emissions during operation. It includes plug-in hybrid vehicles (PHEVs), hydrogen fuel cell vehicles (FCEVs), and battery electric vehicles (BEVs). These vehicles function on electricity and do not use conventional fuels, such as gasoline or diesel, as their power source. Chemical energy of alternative fuel is converted into kinetic energy in the engine to propel the vehicle. Moreover, usage of alternative fuels and electricity in these vehicles lead to zero emissions, making them ecofriendly. At present, automobile manufacturers are inclined toward electric and alternative fuel vehicles, owing to increase in vehicle emission regulations. For instance, in November 2021, General Motors Company’s senior Vice President proclaimed to launch 10 electric vehicles in South Korea by 2025 as a part of its strategy to gradually shift away from internal combustion engine cars to zero-emission ones. Hence, advent of zero emission vehicles is a paradigm shift in the modern world.
Factors such as surge in concern about environmental pollution, stringent government regulation on vehicle emission norms, and increase in demand for fuel-efficient & high-performance vehicles supplement the growth of the zero emission vehicle market. However, high manufacturing cost and range anxiety and serviceability are the factors expected to hamper the growth of the zero emission vehicle market. In addition, technological advancements and proactive government initiatives are expected to create ample opportunities for the key players operating in the zero emission vehicle market.
For the purpose of analysis, the global zero emission vehicle market is segmented on the basis of vehicle type, vehicle class, price, vehicle drive type, top speed, and region. By vehicle type, the market is divided into battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), fuel cell electric vehicle (FCEV), and solar vehicles. By vehicle class, it is fragmented into passenger cars, commercial vehicles, and motorcycles. By price, it is categorized into mid-priced and luxury. By vehicle drive type, it is further classified into front wheel drive (FWD), rear wheel drive (RWD), and all-wheel drive (AWD). By top speed, it is fragmented into less than 100 MPH, 100 to 125 MPH, and more than 125 MPH. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The leading players operating in the zero emission vehicles market are Ampere Vehicles, Benling India Energy and Technology Pvt Ltd., BMW AG, BYD Company Limited, Chevrolet Motor Company, Mercedes-Benz Group AG, Energica Motor Company S.p.A., Ford Motor Company, General Motors (GM), Hero Electric, Hyundai Motor Company, Karma Automotive, Kia Corporation, Lucid Group, Inc., Mahindra Electric Mobility Limited, NIO, Nissan Motor Co., Ltd., Okinawa Autotech Pvt. Ltd., Rivain, Tata Motors, Tesla, Inc., Toyota Motor Corporation, Volkswagen AG, WM Motor, XPeng Inc., Alke', Hanergy Thin Film Power Group Limited, Solar Electric Vehicle, and Sono Motors.
Key Benefits For Stakeholders
This study presents analytical depiction of the global zero emission vehicle market analysis along with current trends and future estimations to depict imminent investment pockets.
The overall zero emission vehicle market opportunity is determined by understanding profitable trends to gain a stronger foothold.
The report presents information related to the key drivers, restraints, and opportunities of the global zero emission vehicle market with a detailed impact analysis.
The current zero emission vehicle market is quantitatively analyzed from 2021 to 2031 to benchmark the financial competency.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the industry.
Key Market Segments
By Vehicle Class
Passenger Cars
Commercial Vehicles
Two Wheelers
By Price
Mid-Priced
Luxury
By Vehicle Type
BEV
PHEV
FCEV
Solar Vehicles
By Vehicle Drive Type
Front Wheel Drive
Rear Wheel Drive
All Wheel Drive
By Top Speed
Less Than 100 MPH
100 to 125 MPH
More Than 125 MPH
By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
Germany
France
Spain
Netherlands
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest Of Asia Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Ampere Vehicles
Benling India Energy and Technology Pvt Ltd
BMW AG
BYD Company Limited
Chevrolet Motor Company
Daimler AG
Energica Motor Company S.p.A.
Ford Motor Company
General Motors
Hero Electric
Hyundai Motor Company
Karma Automotive
Kia Corporation
Lucid Group, Inc.
Mahindra Electric Mobility Limited
NIO
Nissan Motors Co., Ltd.
Okinawa Autotech Pvt. Ltd.
Rivain
Tata Motors
Tesla Inc.
Toyota Motor Corporation
Volkswagen AG
WM Motor
Xiaopeng Motors
Sono Motors (Key Innovator)
Hanergy Thin Film Power Group (Key Innovator)
Solar Electric Vehicle Company (Key Innovator)
Alke (Key Innovator)
Lightyear (Key Innovator)
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