The Global Low-Carbon Propulsion Market size is projected to grow at a CAGR of 21.5%, by volume, during the forecast period. It is estimated to be 2,980 thousand units by 2020 and is projected to reach 11,640 thousand units by 2027.

The market growth is driven primarily by the fact that governments of several countries are taking initiatives to promote clean sources of energy by implementing stringent emission norms. Alternative fuel driven vehicles will help meet these stringent emission regulations. Manufacturers are seeking viable solutions to fulfill future demand for ultra-low emissions in urban areas. With the adoption of renewable fuels such as compressed natural gas (CNG), liquefied natural gas (LNG), ethanol, electric power, and hydrogen there can be a significant reduction in vehicle CO2 emissions.  

Top Players

• Tesla (US)
• BYD (China)
• Yutong (China)
• Proterra (US)
• Nissan (Japan)
• Bombardier (Canada)
• Siemens (Germany)
• Alstom (France)
• Toyota (Japan)
• Honda (Japan)
• Hyundai (South Korea)
• MAN SE (Germany)

The need for mass rapid transit worldwide has been propelling the adoption of low-carbon propulsion systems in both rail and road transport modes. Dedicated R&D activities by key players of these vehicles and governments of several countries favoring the mass rapid transit are anticipated to introduce road and rail transports with enhanced operating speeds. Many countries in Europe and the Asia Pacific are expanding their high-speed hybrid train network and electric vehicle production. Moreover, the infrastructure required for these modes is being developed in countries such as Japan, China, France, and Spain. Major players of the industry, such as Alstom, Siemens, Bombardier, BYD, Hyundai, and CRRC, are expected to introduce technically advanced trains and heavy-duty vehicles, thereby acquiring more supply contracts.

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Rail has recorded a downfall by almost 95% in the UK as a result of the lockdown measures amid COVID-19. It is analyzed that with the reopening of operations, trains can worsen the air quality, which can put COVID-19 patients and those affected by other respiratory conditions in danger. These hazards can be stopped by using alternative fuels.  

The electric segment of the low-carbon propulsion market, by fuel type, is expected to be the largest in the market. This is due to government initiatives to make their urban public transport system more sustainable and fuel-efficient with the use of electric buses and trucks. The introduction of electric public transport is considered to reduce environmental pollution considerably. In addition to this, the involvement of companies like Tesla, BYD, Proterra, Toyota, Hyundai, Daimler, and GM, working on such technologies, will drive the market. Although, the situation of COVID-19 has affected the sales of EVs globally today.

The road segment of the market, by mode,  is expected to be the largest and the fastest market as road transport is a major source of air pollution that harms the environment, thereby requiring early adoption of low-carbon propulsion. Road vehicles emit a range of pollutants that include NOx and PM. Regions like Europe have set limits values for the maximum amount of air pollution citizens should breathe. However, urban populations are still exposed to levels of NO2 and PM above these limits, mainly due to passenger cars and vans. As per the European Environment Agency, it is estimated that road transport contributes to excessive concentrations, about 70% for NO2, and about 30% for PM.

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Low Carbon Propulsion Market and Key Application/ Technology/ Industry

• Fuel cell for heavy load transportation – Currently, fuel cells are used in passenger cars, industrial vehicles, and commercial vehicles. With increasing R&D in the field of fuel cell technology, the cost of a fuel cell is expected to decrease, allowing the use of fuel cells in other segments of transportation. In the coming years, fuel cells are expected to be used in heavy load transportation such as passenger ships, trains, trams, and as synthetic fuel (synfuel) in freight ships and airplanes. Initiatives have been taken for using fuel cells in heavy load transportation. For instance, Germany launched the world’s first fuel cell-powered train in September 2018 named ‘Coradia iLint.’ The train has a driving range of 1,000 km (621 miles) and a maximum speed of 140 km/hr.
• Electric propulsion in trains – All electrically powered vehicles have significant emission benefits over conventional ICE vehicles. These vehicles can directly draw electricity from the grid or other off-board electrical power sources and store it in batteries. Because of the advantages of electric propulsion offers, governments, and OEMs across the globe have shifted their focus on electrifying all the mediums of transportation. For instance, Bombardier transportation introduced the new Electro-Hybrid Train Talent 3 in September 2018. This train does not generate any exhaust and sets standards for smart mobility with peak values of 90% in the areas of efficiency and recyclability. It is also around 50% quieter than modern diesel trains.
• CNG Propulsion – CNG is natural gas under pressure which is clear, odorless, and non-corrosive. CNG is a cost-effective and green fuel alternative to petrol and diesel fuels for vehicles. The fuel is stored in a compressed gaseous state at a pressure of up to 3,600 pounds PSI for utilization in vehicles. CNG as an alternative to fuels is used in light- and heavy-duty vehicles.

Key questions addressed by the report:

• Where will all these developments take the industry in the mid- to long-term?
• How is the increasing adoption of alternative fuel vehicles and changing environmental norms affecting the low-carbon propulsion market?
• What are the upcoming models in commercial vehicles driven by renewable fuels?
• Who are the key players in the market, and how intense is the competition?
• How will the combination of low-carbon emission technology and high-speed range will work on a road and rail transport modes?

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