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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 Request Sample Price Description: 1-user PDF : $ 4450.0 Enterprise PDF : $ 6250.0 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.