Zero Emission Vehicle market is being heavily supported by the
Government across the world as they are implementing policies to promote
electric vehicles to reduce oil consumption, climate-related emissions, and
local air pollution and to stake out an industrial leadership position in the
new advanced technology. After a decade of rapid growth, the global electric
car stock hit the million marks and the sale increased at a double digit year
on year growth over the previous year that is 2019. Battery electric vehicles
(BEVs) accounted for two-thirds of new electric car registrations and two-thirds
of the stock in 2020. China has the largest fleet of electric cars, though in
2020 Europe had the largest annual increase.
According to the report analysis, ‘Zero
Emission Vehicle Market: Current Analysis and Forecast (2021-2027)’
states that some of the major players operating in the market include Hyundai,
Tesla, BMW, BYD, Daimler, Volkswagen, etc. Several M&A's along with
partnerships have been undertaken by these players to boost their presence in
different regions.
Additionally, report also covers comprehensive information about the
market which is further segmented on the basis of Vehicle Type, Application
Type, and Product Type. The report on Zero Emission vehicle market is further
segmented by vehicle type (Battery Electric Vehicles (BEV), Plug-in Hybrid
Electric Vehicles (PHEV) and Fuel Cell Electric Vehicles (FCEV)), and
Application Type (Commercial Vehicles & Passenger Vehicles), and by Product
Type (Buses, Trucks, cars & other vehicles). Moreover, numerous factors which further
contributed to increased electric car registrations in 2020. Notably, electric
cars are gradually becoming more competitive in some countries on a total cost
of ownership basis. Also, several governments provided or extended fiscal
incentives that buffered electric car purchases from the downturn in car
markets.
The report also covers various qualitative sections in its coverage
such as trends and development, market restraints include driving range of
EV's, lack of charging infrastructure & a few models' availability are some
factors impeding the growth of this market all over the world, market overview
and genesis, market size and segmentation and also the company profiles.
In the near future, it is anticipated that the Zero Emission Vehicle
Market will expand significantly at a double digit CAGR during the period 2021-2027F.
This is majorly due to boost on account of the increasing demand for EV's due
to the friendly government policies with various schemes & incentives
provided for same across the world.
For More Information, refer to
below link:-
Global
Zero Emission Vehicle Market
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