Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Automotive Low Emission Vehicle Market Research Re

Report Information
More information from: https://www.marketresearchfuture.com/reports/5772
Automotive Low Emission Vehicle Market Research Report -
Forecast to 2023
Report / Search Code: MRFR/AM/4317-HCRR
Publish Date: May, 2018
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Automotive Low Emission Vehicle Market Information by
Degree of Hybridization (EV, HEV, MHEV, PHEV), Battery Type
(Metal Hydride, Lithium Ion, Nickel Cadmium, Lead Acid),
Vehicle Type (Passenger, LCV, HCV), and Region - Global
Forecast to 2023.
Market Scenario:
The one thing that the automotive industry has successfully provided the
global consumers for the longest time is consistent quality, high
performance, and a reliable automobile which solves the problem of
commuting for work while also providing leisure travel experience
whenever required. The one thing that, however, went unnoticed with the
automakers around the world is that the excessive use of fossil fuels
(diesel and petrol, in particular) has caused a chain of climate change
activities, including global warming. To counter this climatic hazard, the
one technology that can actually make things right and provide
sustainable transport means to the global consumer is the electric
vehicle technology.
There are many factors responsible for the growth of the global
automotive low emission vehicle market. Firstly, there is an increased
awareness amongst consumers about environmental damage and
climate change, due to the excess consumption of fossil fuels. Secondly,
governments over the world are providing subsidies and tax exemptions
for the development of electric vehicle technology. Thirdly, the
automakers are wary of losing a large customer base if they don’t shift to
electric vehicle technology on time, since consumers prefer public
transport systems due to rising maintenance cost of internal combustion
engine powered vehicles. Thus, the overall global automotive low
emission vehicle market is estimated to grow with the CAGR of
approximately 30%, from 2017-2023.