Report Code: A07128 | Nov 2023 | Pages: NA | ||
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Request Now !Electric & hybrid multi-purpose vehicles (MPV) are designed to maximize the interior space for transporting passengers as well as cargo in rear seating rows. MPV’s are installed with reconfigurable seats in rear three rows, a higher roof, flat floor and sliding doors for rear passengers. Furthermore, the upright seating positions maximizes the use of interior space to feel more spacious and comfortable. The seating arrangement of MPV has two or three rows, which conveniently could serve 5-8 passengers. Electric & Hybrid MPV’s use unibody frame construction and thus are lightweight. Additionally, improved frame construction and reduced weight results in better handling & fuel-efficiency. Therefore, improved frame construction and better fuel efficiency is expected to drive the growth of the global electric & hybrid multi-purpose vehicle market in near future.Â
Increase in demand for electric & hybrid electric vehicles, favorable government policies & subsidies regarding electric vehicles, and growth in concerns over environmental pollution are driving the growth of the market. However, high manufacturing & maintenance cost is expected to hamper the growth of the market. On the contrary, charging stations powered by renewable energy such as solar energy is expected to create an opportunity for the market investments.
The global electric & hybrid multi-purpose vehicle market trends are as follows:
The internal combustion engine vehicles emit a high volume of carbon discharge in the environment which is encourages the consumers to shift from diesel engine to electric & hybrid vehicles. Governments across the world have taken initiatives to deploy electric vehicles to control the environmental pollution level and improve the air quality. For instance, electric vehicle initiative (EVI), a multi firm government policy forum established in 2009 under clean energy ministerial (CEM), helped major electric vehicle manufacturers to accelerate the production of electric & hybrid MPV’s globally. Furthermore, initiatives to deploy electric multi-purpose vehicle will reduce the dependence on crude oil. Therefore, growing concerns over environmental pollution is expected to boost the growth of the electric & hybrid multi-purpose vehicle market.  Â
Electric & hybrid multi-purpose vehicles have major advantages over diesel MPV’s, however the manufacturing and maintenance cost for the electric MPV is higher than internal combustion engine vehicles. Moreover, the reason for high cost of electric MPV’s is primarily due to lower production level. Furthermore, the unavailability of infrastructure required for the electric & hybrid MPV growth has proved to be a negative factor, which further affects the growth of the electric MPV market. Therefore, unavailability of infrastructure and high manufacturing cost is expected to hamper the growth of the electric & hybrid multi-purpose vehicle market.
Key benefits of the report:
Questions answered in the global electric & hybrid multi-purpose vehicle market research report:
Electric & Hybrid Multi-Purpose Vehicle Market Report Highlights
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By Tonnage |
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By End Usage |
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Key Market Players | Volkswagen, BYD, Toyota Group, Volvo, Daimler, Hyundai, Renault-Nissan Alliance, MAN, Tesla., Honda |
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