Low Emission Vehicle Market worth $103.13
Billion by 2017
According to a new market research report “Low Emission Vehicle Market (2012 - 2017) - By
Degree of Hybridization & Type of Traction Battery Used - Global Forecast, Trends &
Analysis”, the global low emission vehicle market was valued $21.13 billion in 2011 and is
expected to grow from $27.45 billion in 2012 to $103.13 billion by 2017 at an estimated CAGR
of 30.3% from 2012 to 2017. 826.8 thousand low emission vehicle were shipped on a global
level for 2011 and the number is expected to reach 3532.1 thousand units by 2017, at an
estimated CAGR of 27.8% from 2012 to 2017.
Browse 105 tables and in-depth TOC on “Low Emission Vehicle Market (2012 - 2017) - By
Degree of Hybridization & Type of Traction Battery Used - Global Forecast, Trends &
Analysis”.
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A hybrid electric vehicle (HEV) is a type of hybrid vehicle and electric vehicle that combines a
conventional internal combustion engine (ICE) propulsion system with an electric propulsion
system. The presence of the electric powertrain is intended to achieve either better fuel economy
than a conventional vehicle, or better performance.
The world is dominated by ICE-powered vehicle and enjoying the benefits of advances in
technology and mass production; wide support from components manufacturer industries, and
availability of talented resources. However, the outcome of this dominance includes faster
consumption of global fossil fuel resources and an increasing amount of exhaust emissions such
as CO2 and CO in the environment. Given these challenges, governments and automakers are
looking for better alternative to ICE-powered vehicle that can reduce the exhaust emission and
reduce the dependence on oil, which is the primary fuel to tradition vehicles. That is why the
need for low emission vehicle is evolving and is continuously growing. This approach will act as
a medium to make automotive industry more environment–friendly, ultimately benefiting the
world.
Talking of low emission vehicle market based on degree of hybridization, FHEVs are expected
to remain as market leaders during the forecasted period. Market for FHEVs and BEVs will
develop at a faster rate due to governments’ initiatives to develop charging infrastructure and
development in battery technology. Till date, the mass produced FHEV cars have been powered
by nickel metal-hydride (NiMH) batteries, which are larger and heavier than lithium ion; for