Feb 25, 2021 (Heraldkeepers) -- Zero emission vehicles are also referred as (ZEV). ZEV does not emit tailpipe pollutant from its power source. Zero emission vehicles have various benefits than conventional vehicles like ZEV run on alternative power sources like natural gas, solar power, electricity, and battery.
Rise in prices of petroleum based fuels, and increase in availability of various models of vehicles are the key driving factors which are expected to boost the growth of global zero emission vehicle industry during this forecast period. Furthermore, different stringent environmental regulations and rules being implemented across the world for reduce the pollutants from vehicles and industrial emissions will have the positive impact on global zero emission vehicle market growth. Moreover, increase in government initiatives and rise in awareness among consumers are expected to propel growth of global zero emission vehicle market industry.
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However, lack of standardization of charging infrastructure is the major restraining market which is expected to hamper the global Zero Emission Vehicle market growth. Also, high cost of zero emission vehicle market will affect the global zero emission vehicle market growth.
Global Zero Emission Vehicle Market is segmented into battery type such as fuel cell electric vehicles (FCEV), Plug-in hybrid electric vehicle (PHEV), and Battery Electric vehicles (BEV). Further, Global Zero Emission Vehicle Market is segmented into application such as passenger vehicles, and commercial vehicles.
Also, Global Zero Emission Vehicle Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Volkswagen group, GE Motors Co, BMW AG, Ford Motor Co, Honda Motor Co, Nissan Motor Corp and Toyota Motor Corp.
By Vehicle Type
Fuel Cell Electric Vehicle (FCEV)
Plug-in Hybrid Electric Vehicle (PHEV)
Battery Electric Vehicle (BEV)