About Low Emission Vehicles
Low emission vehicle (LEV), also known as hybrid vehicle, meets the highly-regarded anti-pollution laws and is applicable to both small and large vehicle. It can reduce CO2 emission by as much as 50%. In a bid to achieve zero emission target 198.2 Million USD was sanctioned by United Kingdom Prime minister Theresa May in recently concluded Zero Emission Vehicle (ZEV) Summit in September 2018. The move will benefit, creating an infrastructure to develop green battery, vehicle and refueling technology
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Low Emission Vehicles market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Low Emission Vehicles Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States, Japanese, and German Vendors will contribute the maximum growth to Global Low Emission Vehicles market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tesla Motor Company (United States), Mitsubishi Motor Corporation (Japan), Daimler (Germany), Ford Motor Company (United States), General Motors (United States), Honda Motors Ltd (Japan), Toyota (Japan), BMW (Germany), Isuzu Motors (Japan), BYD (China) and Hyundai (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nissan (Japan), Renault (France) and Mercedes-Benz (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Low Emission Vehicles market by Type (Pure Electric Vehicles, Hybrid Electric Vehicles, Plug-In Hybrid Electric Vehicle and Others), Application (Passenger Cars and Commercial Vehicles) and Region.
On the basis of geography, the market of Low Emission Vehicles has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Batteries Type, the sub-segment i.e. Lead Acid Battery will boost the Low Emission Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by , the sub-segment i.e.
will boost the Low Emission Vehicles market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Recent developments in biofuels and Increasing adoption of autonomous vehicles in developed countries
Market Growth Drivers:
The strict environmental regulations regarding controlling emissions across the world, Rapid advancement in battery technology, and increasing availability of different models of hybrid electric vehicle and Rise in the prices of petroleum-based fuels
Challenges:
Lack of supporting infrastructure in underdeveloped and developing nations
Restraints:
High cost and maintenance of the low emission vehicles
Opportunities:
Top players are continuous focusing on R&D initiatives in developing fuel-efficient vehicles
Market Leaders and their expansionary development strategies
In May 2023, TCI Transportation, a leading provider of transportation and logistics services, launching a new EV Acquisitions Program, a full-blown zero emissions blitz that offers in-house EV planning, route analysis, grant assistance, and a comprehensive suite of medium and heavy-duty electric vehicle offerings. With its expertise in infrastructure, TCI Transportation is your one-stop-shop for all things zero emissions.
In November 2023, E-commerce company Amazon has launched its last-mile fleet programme in India with 100 per cent electric vehicles, under which it will provide its delivery service providers with access to customized EVs suitable for last-mile deliveries. In the initial phase of the programme, the company has introduced Mahindra Zor Grand three-wheeler EVs, each equipped with specialised enhancements for Amazon's last-mile deliveries.
Vermont’s Low Emission Vehicle (LEV) program, authorized under section 177 of the Clean Air Act, has been a centerpiece of Vermont’s air quality efforts since 1996. The Zero Emission Vehicle (ZEV) program, which is a technology-forcing component of the LEV program, has been a major contributor to the successful commercialization of hybrid-electric vehicles and ultra-low-emission technologies
Key Target Audience
Electric Vehicle Manufacturer, Raw Material Supplier, Distributor, Government Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.