Automotive Alternate Fuel Vehicles Market

Alternative fuels vehicles are seen by proponents as integral to improving urban air quality, reducing emissions of greenhouse gases and decreasing dependence on foreign oil. Alternative fuels include fuels other than petrol and diesel that are used in the internal combustion engines. These alternative fuels are biofuels, i.e, biodiesel and ethanol, biogas, CNG, LPG, hydrogen gas, fuel cells, electricity and solar batteries. The major factor leading to the increasing usage and growth of alternative fuels in transportation is the concern over the level of emissions from the use of fossil fuels. Though costly to some extent as compared to the fossil fuels, it provides many benefits as compared to the usage of fossil fuels. Increasing oil prices, increasing dependence on the foreign countries for oil as well the environmental benefits of alternative fuels have prompted the growth of alternative fuels. The present market for the usage of alternative fuels as a transportation fuel is small since it is not been yet accepted universally as a fuel for vehicles. But, it is in its growing stage and will be widely accepted by 2025.

The report covers the market for alternative fuel vehicles market in terms of volume and value. The market volume is provided in terms of thousand units; whereas the value for the market is provided in terms of $million from 2011 to 2018. The alternative fuel vehicles market is broadly segmented by type of fuel, vehicle type and by geography focusing on the key countries in each region.

This report classifies and defines the alternative fuel vehicles market volume and value. It also provides qualitative insights about the types of alternative fuels and why they are being used. The report also gives a comprehensive review of the market drivers, restraints, opportunities, challenges, and key issues in the alternative fuel vehicles market. The key players in the market for alternative fuel vehicles have also been identified and profiled.