About Green Vehicle Technology
Green vehicle also known as eco-friendly vehicle, that emits less harmful gases and are comparatively beneficial for the environment than conventional vehicles that runs on alternative fuels. Government is taking initiatives to increase purchase and use of such green vehicles for sustainable environment as this vehicles does not use or rely on dwindling natural resources. This vehicles runs on renewable or regenerated energy rather than fossil fuels that have a finite life expectancy. Environmentally friendly vehicle use less toxic fuels such as ethanol, bio-diesel and natural gas. Stringent regulations on the emission of hazardous gases and growing awareness regarding increasing global warming, leads to inclination of audience towards this vehicles.
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 Green Vehicle Technology 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 Green Vehicle Technology 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. 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 Inc. (United States), BYD Company Limited (China), Volkswagen AG (Germany), Nissan Motor Corporation (Japan), Mitsubishi Motors Corporation (Japan), Bayerische Motoren Werke Aktiengesellchaft (Germany), Daimler AG (Germany), Energica Motor Company S.p.A. (Italy), Ford Motor Company (United States), General Motor Company (United States) and Toyota Motor Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Renault (France), SAIC Motor (China) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Green Vehicle Technology market by Type (Electric and fuel cell-powered, Hybrid electric powered, Compressed air powered, Electric Motor and Pedal Powered and Other) and Region.
On the basis of geography, the market of Green Vehicle Technology 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 Vehicle, the sub-segment i.e. Two wheeler will boost the Green Vehicle Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Favorable tax credits provided by the government and Future Health benefits associated with the use of green vehicle
Market Growth Drivers:
Available financial incentives on purchase of eco-friendly vehicle and Encouraging laws, rules and policies over the globe
Challenges:
Strict regulatory guidelines associated with Green Vehicle Technology
Restraints:
High cost of technology used, Reluctant nature towards changing old and habitual vehicles and Extra Maintenance is required
Opportunities:
Due to limited availability, Fuel prices will be at peak level in upcoming years, Increasing awareness regarding depletion of natural resources and Ban on regular vehicles due to increasing global warming
Market Leaders and their expansionary development strategies
In December 2022, Ecofy, an NBFC backed by Eversource Capital that provides green finance for climate-positive segments, announced that it has acquired Autovert Technologies (AV), a Bengaluru-based company that provides superior user experience through an end-to-end frontend and technology platform to electric vehicle (EV) buyers.
In February 2024, Kinetic Green, a leading manufacturer of electric vehicles, introduced E-Luna, a stylish, multi-utility electric two-wheeler, the electric version of the iconic Luna, with advanced technology and features, at an event in New Delhi.
"European emission standards like Euro6 and zero-emissions vehicle standards such as ZEV, ULEV, SULEV and PZEV of California as well as low-carbon fuel standards enacted in several countries, are functioning to reduce hazardous emissions to save the environment."
Key Target Audience
Manufacturer, Sub-component manufactures, Channel partners, Distributors/Traders/Wholesalers, Industry Association, Downstream Vendors, Governments and investment communities and Research organizations and associations
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.