The E&SC practice at MarketsandMarkets is pleased to announce its Presentation on the Low Emission Vehicle Market
As the global economy expands, the consumption of petroleum-based fuel increases. There are limited resources of fossil fuels, which are primary sources that power the ICE-powered engines. This increases the price of petroleum-based fuel. The automotive sector uses over a quarter of the world’s energy and is responsible for a comparable share of global CO2 emissions from fossil fuel combustion. Therefore, it has become absolutely necessary for the world to look out for solutions to these problems in the form of low emission vehicle or HEV to reduce road transport emissions and improve fuel efficiency. The hybrid electric vehicle industry is relatively new and contributes significantly less to the overall automotive industry. Currently holding less than 2% of overall passenger vehicles sold across the globe, HEVs are expected to represent nearly 6 to 7% of all the passenger vehicles sold by 2017. As an effect of considerable promotional activities by governments, media, and environmentalists; consumers have started taking this new technology seriously. The growth of the low emission vehicle market is highly dependent on the consumer sentiment, regulatory environment, and technology development in these markets.
A hybrid electric vehicle (HEV) is a type of hybrid vehicle and electric vehicle that combines a conventional internal combustion engine (ICE) propulsion system with an electric propulsion system. The presence of the electric powertrain is intended to achieve either better fuel economy than a conventional vehicle, or better performance.
The global low emission vehicle market was valued $21.13 billion in 2011 and is expected to grow from $27.45 billion in 2012 to $103.13 billion by 2017 at an estimated CAGR of 30.3% from 2012 to 2017. 826.8 thousand low emission vehicle were shipped on a global level for 2011 and the number is expected to reach 3532.1 thousand by 2017, at an estimated CAGR of 27.8% from 2012 to 2017.
The agenda for the briefing includes discussion on key high growth markets, thereby marking the growth trend in the global low emission vehicle market. Furthermore, a briefing will be conducted on the competitive scenario and geographic trends and opportunities in the macro- and micro-markets with respect to North America, Europe, Asia-Pacific, and ROW.
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