(MENAFN- America News Hour) Market Dynamics
Low emission vehicle will reduce the use of fossil fuel for vehicles thus fossil fuels will be available for industries and power plant consumption. Emission of CO2 and CO at analarming rate in the environment worldwide is another reason for therapid demand for theeco-friendly vehicle. With the increase in monitoring duties, several guidelines have also been implemented for the amount of fuel usage in low emission vehicle.
This will also support government's initiative to develop charging infrastructure and development in battery technology. Some of the major factors restraining the growth of these vehicles in global market is their high cost, lack of power and performance, and lackof supporting infrastructure.
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Low Emission Vehicle market is expected to grow by 30% to $XXX million from $XXX million in 2011. Low emission vehicle is a motor vehicle that emits relatively low levels of motor vehicle emissions. These vehicles are hybrid vehicles which involve a combination of traditional engines (Internal Combustion Engines) and electric vehicles. These vehicles will refrain the discharge of unburned hydrocarbons and particulates into the air through exhaust pipe in the vehicles running by oil.
Market Segmentation
Low Emission Vehicle market can be segmented on the basis of:
Based on Degree of Hybridization:
o Mild Hybrid Electric Vehicle (MHEV)
o Full Hybrid Electric Vehicle (FHEV)
o Plug-in Hybrid Electric Vehicle (PHEV)
o Battery Electric Vehicle (EV or BEV)
Based on Batteries:
o Lead Acid Battery
o Nickel Cadmium Battery
o Metal Hydride Battery
o Lithium-Ion Battery
Opportunities
Key factors such as theabundance of surplus resources, technological advances and demand from manufacturers in different industries are driving the demand for Internal Combustion Engines to the new horizons.
Geographic Analysis
The US is the dominating the market followed by Canada. European parliament's emission targets by 2030 are amongst the many factors driving the low vehicle emission market in the region. Besides, tax credits offered by EU nation states (5-30%) for companies manufacturing renewable and sustainable energy products in the country, would further supplement the growth of the market. China also holds large share in the global market as the recent news of high alert in china has paced the demand of low emissions vehicle followed by India.
Key Players
Some of the major players in Low Emission Vehicle market globally are:
Tesla Motor Company
Mitsubishi Motor Corporation
Diamler AG
Nissan Motor Corp
Ford Motor Company
General Motors Ltd
Honda Motors Ltd
Volkswagen Group
Isuzu Motors
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