Allied Market Research

2024

Low-carbon Propulsion Market

Low-Carbon Propulsion Market Size, Share, Competitive Landscape and Trend Analysis Report by Type and by Fuel Type : Global Opportunity Analysis and Industry Forecast, 2023-2032

AT : Automotive systems and accessories

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Author's: | Lalit Janardhan Katare
Publish Date:

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Low-carbon propulsion act as a power source which is commonly called a power plant, a technical device uses an engine or motor, and wheels and axles, propellers, or a propulsive nozzle to produce the force. Technological progressions to advance the emission standards by conventional conversions of vehicles are driving the growth of the low carbon propulsion market growth. Increase in demand for fuel efficiency in commercial vehicles boosts the market growth for low-carbon propulsions.Surge in demand for energy-efficient transport and emission-free vehicles is one of the major factors that drives the growth of the low carbon propulsion market. Moreover, government support for zero-emission technologies is anticipated to boost the growth of the market.

Market scope and structure analysis:

Report Metric

Details

Market size available for years

2020–2027

Base year considered

2019

Forecast period

2021–2027

Forecast units

Value (USD)

Segments covered

Type, Fuel Type and Electric Vehicle

Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

Companies covered

Tesla, BYD Company Ltd., YUTONG, Nissan, Bombardier, Siemens, Alstom, Toyota, Honda Motor Co. Ltd., andHyundai Motor Group

COVID-19 scenario analysis:

  • The automobile sector was struggling in many countries before the pandemic and due to the lockdown, Supply and Demand have vanished from the market.
  • The impact of the coronavirus will affect the sales of automobiles in every country, which will impact the absorption pad market as well.
  • The deadly virus has destroyed the supply chain of many markets and it will take some time to revive back.
  • The safety and security feature have to be improved after the lockdown, which may benefit the global automotive ignition systems marketdue to the virus.
  • The most immediate and visible effect of COVID-19 in the traditional automotive sector is the standstill of production by manyoriginal equipment manufacturers (OEM)which has affected the market.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Some of the factors that boost the market growth include increase in demand for emission-free vehicles and energy-efficient transport and rising environmental concerns regarding fuel emissions. However, the high cost involved with technologies and componentsis anticipated to hamper the growth of the market. Furthermore, the availability of alternative fuel engine solutions for commercial vehicles and government support for zero-emission technologiesare expected to offer lucrative opportunities for the marketin the forecast period.

The low-carbon propulsion market trends are as follows:

Increase in demand for emission-free vehicles and energy-efficient transport

The prices of oils are highly uncertain as subjected to the international market. As alternative fuel trains offer the benefit of cost-effective and efficient transportation of passengers as well as freight. Several cities are implementing new transportation infrastructure projects to reduce pollution and provide an affordable means of transportation at an intercity as well as an intra-city level. Moreover, increasing urbanization and growing demand for increased connectivity, comfort, reliability, and safety will boost light-duty vehicle transportation within cities which will further grow the low-carbon propulsion market in the forecast period.

Rise in environmental concerns regarding fuel emissions

The increase in use of fuels has led to rise in carbon dioxide (CO2) and many other gases in the atmosphere which can harm the environment. In addition, the increase in awareness among the costumers regarding the use of fuel and harm to the environment has led them to shift to eco-friendly vehicles. Moreover, the government is encouraging several countries to take initiatives to promote clean sources of energy by implementing stringent emission norms. Hence, alternative fuel-driven vehicles will help meet these stringent emission regulations which will lead to growing the global low-carbon propulsion marketduringthe forecast period.

Key segments covered:               

Segments

Sub-segments

Type

  • Heavy-Duty Vehicle
  • Light-Duty Vehicle

Fuel Type

  • Compressed Natural Gas (CNG)
  • Liquefied Natural Gas (LNG)
  • Ethanol
  • Hydrogen
  • Electric

Electric Vehicle

  • Passenger Car
  • Electric Two-Wheeler
  • Electric Bus
  • Electric Off-Highway Vehicle

Key benefits of the report:

  • This study presents the analytical depiction of the low-carbon propulsion market industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the low-carbon propulsion market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the low-carbon propulsion market scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed low-carbon propulsion market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions answered in the low-carbon propulsion market research report:

  • What are the leading market players active in the low-carbon propulsion market?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What are the projections for the future that would help in taking further strategic steps?

Low-Carbon Propulsion Market Report Highlights

Aspects Details
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By Type
  • PC
  • LCV
  • HCV
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By Fuel Type
  • Compressed Natural Gas (CNG)
  • Liquefied Natural Gas (LNG)
  • Ethanol
  • Hydrogen
  • Electric
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Latin America, MIddle East, Africa)
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Key Market Players

YUTONG, Nissan, Hyundai Motor Group, Alstom, Bombardier, Siemens, Honda Motor Co. Ltd., BYD Company Ltd., Tesla, Toyota

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Low-Carbon Propulsion Market

Global Opportunity Analysis and Industry Forecast, 2023-2032