Green Vehicle Market Forecast 2017-2027: Trends and Competition | Techsci ResearchPosted by Kumar on April 20th, 2023 The global green vehicle market is expected to experience significant growth from 2023 to 2027, according to the "Green Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027" report by TechSci Research. The primary driving forces behind this growth are the increasing demand for low emission and zero-emission vehicles for commuting, as well as government subsidies and income tax rebates to support the manufacturing and purchase of green vehicles. However, the growth of the global green vehicle market may be restrained by high initial costs and a lack of appropriate charging and fueling stations during the forecast period. The global green vehicle market is segmented into propulsion, vehicle type, drive type, transmission type, regional distribution, and company. The hybrid propulsion segment is expected to hold the largest market share during the forecast period due to its higher fuel efficiency, lower maintenance costs, enhanced engine average load, and better fuel savings compared to its counterparts. In terms of vehicle type, passenger cars are expected to account for a significant market share during the forecast period. This is due to the high demand for passenger cars in the Asia-Pacific region, particularly in Japan, China, and South Korea. The introduction of electric passenger cars with different colors, fuel mileage, battery capacity, and prices by market players is expected to boost the sales of green passenger cars in the forecast period. Rear-wheel drive (RWD) is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period in terms of drive type, as it provides easier vehicle control and contributes to higher market growth. The launch of RWD vehicles such as the Wuling Hongguang Mini EV, Volkswagen ID4, and Tesla Model 3 Standard version is garnering consumer attention and driving purchases. The automatic transmission type is expected to witness the fastest incremental growth during the forecast period due to its ease of use and comfort for drivers. North America is expected to hold the largest market share in terms of regional analysis, followed closely by Europe during the forecast period. Favorable government policies promoting the use of green vehicles and the installation of charging and hydrogen fueling stations to increase consumer convenience while driving are key factors supporting the growth of the global green vehicle market in the region. Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Green Vehicle Market" https://www.techsciresearch.com/report/green-vehicle-market/8229.html Major market players operating in the global green vehicle market are:
Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=8229 Customers can also request for 10% free customization on this report. “The rise in investments by the government authorities around the globe for the development of sufficient electric vehicle charging stations and hydrogen fueling stations and the subsidies and incentives offered to manufacturers and buyers are expected to create growth avenues for the global green vehicle market in the forecast period. An increase in the costs of petroleum and diesel and the reduction in the price of EV batteries is ultimately lowering the cost of electric vehicles, which is expected to bolster the demand for green vehicles. The target set-up by leading authorities of several developing economies to reduce vehicle emissions by 2050 and the introduction of advanced variants of green vehicles are expected to propel the global green vehicle market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm. “Green Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Propulsion (Hybrid, Electric, Hydrogen Fuel, Natural Gas, Clean Diesel, Flexible Fuel, etc.), By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV), OTR), By Drive Type (FWD, RWD, AWD), By Transmission Type (Automatic, Manual), and By Region”, has evaluated the future growth potential of global green vehicle and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global green vehicle market. Download Sample Report @ https://www.techsciresearch.com/sample-report.aspx?cid=8229 Like it? Share it! More by this author |