Global Alternative Fuel Vehicle (AFV) Market Growth 2025-2031

Global Alternative Fuel Vehicle (AFV) Market Growth 2025-2031

The global Alternative Fuel Vehicle (AFV) market size is predicted to grow from US$ 217740 million in 2025 to US$ 524180 million in 2031; it is expected to grow at a CAGR of 15.8% from 2025 to 2031.

An alternative fuel vehicle (AFV) is a vehicle that runs on substances other than the conventional petroleum gas and diesel.

Global Alternative Fuel Vehicle (AFV) key players include Tesla, BMW Group, BYD, Yutong, Daimler AG, etc. Global top five manufacturers hold a share about 40%.

China is the largest market, with a share about 40%, followed by Europe and North America, both have a share over 50 percent.

In terms of product, Electricity is the largest segment, with a share about 85%. And in terms of application, the largest application is Home Use, followed by Commercial Use.

LP Information, Inc. (LPI) ' newest research report, the “Alternative Fuel Vehicle (AFV) Industry Forecast” looks at past sales and reviews total world Alternative Fuel Vehicle (AFV) sales in 2024, providing a comprehensive analysis by region and market sector of projected Alternative Fuel Vehicle (AFV) sales for 2025 through 2031. With Alternative Fuel Vehicle (AFV) sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Alternative Fuel Vehicle (AFV) industry.

This Insight Report provides a comprehensive analysis of the global Alternative Fuel Vehicle (AFV) landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Alternative Fuel Vehicle (AFV) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Alternative Fuel Vehicle (AFV) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Alternative Fuel Vehicle (AFV) and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Alternative Fuel Vehicle (AFV).

This report presents a comprehensive overview, market shares, and growth opportunities of Alternative Fuel Vehicle (AFV) market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Electric Vehicle
Natural Gas/Compressed Natural Gas
Others

Segmentation by Application:
Home Use
Commercial Use

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Tesla
BMW Group
BYD
Yutong
Daimler AG
BAIC
Renault
Toyota Motor Corporation
General Motors
SAIC
Geely
Fiat Chrysler Automobiles
Volkswagen
Chery
JMCG
JAC
Ford
Hyundai
Dongfeng
Zotye
Mitsubishi
Honda
Changan

Key Questions Addressed in this Report

What is the 10-year outlook for the global Alternative Fuel Vehicle (AFV) market?

What factors are driving Alternative Fuel Vehicle (AFV) market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Alternative Fuel Vehicle (AFV) market opportunities vary by end market size?

How does Alternative Fuel Vehicle (AFV) break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.