Global Alternative Fuel Vehicle Market: Industry Analysis, Trends, Market Size and Forecasts up to 2024 – ResearchAndMarkets.com

The “Alternative
Fuel Vehicle Market: Global Industry Analysis, Trends, Market Size and
Forecasts up to 2024” report has been added to ResearchAndMarkets.com’s
offering.

The report on global alternative fuel vehicle market provides
qualitative and quantitative analysis for the period of 2016 to 2024.
The report predicts the global alternative fuel vehicle market to grow
with a CAGR of 13.2% over the forecast period of 2018-2024.

The study on alternative fuel vehicle market covers the analysis of the
leading geographies such as North America, Europe, Asia-Pacific and RoW
for the period of 2016 to 2024.

Technological advancement and positive initiatives taken by the
government such as investment in electric buses for public transport are
driving the growth of the alternative fuel vehicle market. Additionally,
increasing availability of plugin vehicles and battery electric modules
is further anticipated to fuel the market over the forecast period.

However, high cost in production of alternative fuel is likely to hamper
the growth of the alternative fuel market. On the other hand, high
initial cost of infrastructure is anticipated to have negative impact
for the growth of the market.

Furthermore, rapid decrease in oil reserves and development of
well-organized alternative fuel has been supporting the adoption of
alternative fuel vehicles across the globe. Moreover, these alternative
fuel vehicles produce very less carbon related compounds such as oxides
of carbon and nitrogen that makes an eco-friendly alternative in the
automotive industry.

Using alternative fuel in vehicles improves air quality and reduces the
emission of greenhouse gases. This in turn is expected to provide huge
opportunities for the key players in the alternative fuel vehicle’s
market.

Asia Pacific is the leading region due to high number of vehicles.
Moreover, adoption of cleaner fuels and increasing number of regulatory
policies are primarily driving the Asian countries in the alternative
fuel vehicle market. However, the alternative demand for fuel vehicles
in the in Europe exhibits significant demand in the automotive industry.

Companies Mentioned

For more information about this report visit https://www.researchandmarkets.com/research/w5s9sx/global?w=4

View source version on businesswire.com: https://www.businesswire.com/news/home/20180713005442/en/

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