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Report
Green Vehicle Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Propulsion (Hybrid, Electric, Hydrogen Fuel, Natural Gas, Clean Diesel, Flexible Fuel, etc.), By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV), OTR), By Drive Type (FWD, RWD, AWD), By Transmission Type (Automatic, Manual), and By Region
Market Report I 2022-12-01 I 111 Pages I TechSci Research
The global green vehicle market is anticipated to witness a growth of steady CAGR in the forecast period, 2024-2028. The rise in environmental concerns, stringent emission norms, and supportive government policies providing income tax rebates and subsidies are the primary factors driving the global green vehicle market growth throughout the forecast period.
A green or eco-friendly vehicle, or clean vehicle, can be defined as a road vehicle that uses alternate fuels and produces emissions, and is less harmful to the environment than conventional internal combustion engines. The vehicles included in green vehicles are electric vehicles, natural gas vehicles, battery electric vehicles, clean diesel vehicles, plug-in hybrid electric vehicles, flexible fuel-vehicle, and vehicles using blends of ethanol, biodiesel, and gasohol.
Rise in Demand for Fuel-Efficient Vehicle Supports Market Growth
Conventional energy sources are depleting with time due to their limited availability, and they produce harmful greenhouse emissions that adversely affect the environment and result in rapid climate change. The Paris Agreement formed in 2025 targets to keep the rise in mean global temperature to well below 2 C. In order to meet the target, the UN Environment Program (UNEP) suggested cutting global emissions by 7.6 percent every year for the next decade. The surge in awareness among consumers about sustainable development boosts alternative energy sources as energy fuel in automobiles. Electric vehicles or green vehicles convert almost half of the power supplied to fuel, much larger than conventional vehicles' energy conversion. Growing crude oil prices and the advent of fuel-efficient technologies are expected to fuel the demand for electric vehicles for daily commute purposes.
Stringent Emission Norms and Regulations Drives the Market Demand
The conventional gas-powered vehicle uses an internal combustion engine for power generation. The combustion engine produces carbon dioxide and greenhouse gases, leading to environmental pollution. Electric vehicles use an electric motor that uses a continuous power supply and does not produce pollutants. Stringent government regulations and laws in U.S., France, and China focus on efficient vehicle emission, making it mandatory to use advanced technologies ensuring high vehicle performance. Advanced technical infrastructure in the United States and increased sales of alternate fuel vehicles accelerate the global green vehicle market growth in the next five years.
Advancements in Green Vehicle Technology Spurs High Market Growth
Market players are making high-end investments in research and development activities and upgrading the existing infrastructure of greenhouse technology. Companies are focusing on producing green vehicles having lower carbon emissions at relatively lower costs than conventional vehicles. Manufacturers are also focusing on the production of downsized engines having larger battery capacity to achieve the target set up the leading authority of several developing countries. Downsized engines are cost-effective and compact in nature, which helps achieve higher fuel efficiency and stability by the vehicles.
Market Segmentation
The global green vehicle market is segmented into propulsion, vehicle type, drive type, transmission type, regional distribution, and company. Based on propulsion, the global green vehicle market is divided into hybrid, electric, hydrogen fuel, natural gas, clean diesel, flexible fuel. Based on the vehicle type, the global green vehicle market is divided into two-wheeler, passenger car, light commercial vehicle (LCV), medium & heavy commercial vehicle (M&HCV), and OTR. Based on the drive type, the global green vehicle market is divided into FWD, RWD, AWD. Based on the transmission type, the global green vehicle market is divided into automatic and manual. To analyze the market based on the region, the global green vehicle market is studied in major regions namely North America, Asia-pacific, Europe & CIS, South America, Middle East, and Africa.
Market Players
Honda Motor Company Limited, Hyundai Motor Company, General Motors Company, Subaru Corporation, Volkswagen AG, Ford Motor Company, Nissan Motor Co., Ltd., Daimler AG, Toyota Motor Corporation, BMW AG, are among the major market players in the global platform that lead the market growth of the global green vehicle market.
Report Scope:
In this report, global green vehicle market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Green Vehicle Market, By Propulsion:
o Hybrid
o Electric
o Hydrogen Fuel
o Gas
o Clean Diesel
o Flexible Fuel
- Green Vehicle Market, By Vehicle Type:
o Two-Wheeler
o Passenger Car
o Light Commercial Vehicle (LCV)
o Medium & Heavy Commercial Vehicle (M&HCV)
o OTR
- Green Vehicle Market, By Drive Type:
o FWD
o RWD
o AWD
- Green Vehicle Market, By Transmission Type:
o Automatic
o Manual
- Green Vehicle Market, By Region:
o North America
- United States
- Canada
- Mexico
o Asia-Pacific
- China
- India
- Japan
- Malaysia
- Thailand
- Indonesia
- Vietnam
- South Korea
o Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- Belgium
- Russia
o South America
- Brazil
- Argentina
- Colombia
o Middle East & Africa
- South Africa
- UAE
- Saudi Arabia
- Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in global green vehicle market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to five).
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Green Vehicle Market
5. Voice of Customer
5.1. Factors Influencing Purchase Decision
5.2. Aided Brand Recall and Unaided Brand Recall
5.3. Challenges/Unmet Needs
6. Global Green Vehicle Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value and Volume
6.2. Market Share & Forecast
6.2.1. By Propulsion (Hybrid, Electric, Hydrogen Fuel, Natural Gas, Clean Diesel, Flexible Fuel, etc.)
6.2.2. By Vehicle Type (Two-Wheeler, Passenger Car, Light Commercial Vehicle (LCV), Medium & Heavy Commercial Vehicle (M&HCV), OTR)
6.2.3. By Drive Type (FWD, RWD, AWD)
6.2.4. By Transmission Type (Automatic, Manual)
6.2.5. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
6.2.6. By Company (2020)
6.3. Product Market Map (By Propulsion, By Region)
7. North America Green Vehicle Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value and Volume
7.2. Market Share & Forecast
7.2.1. By Propulsion
7.2.2. By Vehicle Type
7.2.3. By Drive Type
7.2.4. By Transmission Type
7.2.5. By Country (United States; Canada; Mexico)
7.3. Product Market Map (By Propulsion, By Country)
7.4. North America: Country Analysis
7.4.1. United States Green Vehicle Market Outlook
7.4.1.1. Market Size & Forecast
7.4.1.1.1. By Value and Volume
7.4.1.2. Market Share & Forecast
7.4.1.2.1. By Propulsion
7.4.1.2.2. By Vehicle Type
7.4.1.2.3. By Drive Type
7.4.1.2.4. By Transmission Type
7.4.2. Canada Green Vehicle Market Outlook
7.4.2.1. Market Size & Forecast
7.4.2.1.1. By Value and Volume
7.4.2.2. Market Share & Forecast
7.4.2.2.1. By Propulsion
7.4.2.2.2. By Vehicle Type
7.4.2.2.3. By Drive Type
7.4.2.2.4. By Transmission Type
7.4.3. Mexico Green Vehicle Market Outlook
7.4.3.1. Market Size & Forecast
7.4.3.1.1. By Value and Volume
7.4.3.2. Market Share & Forecast
7.4.3.2.1. By Propulsion
7.4.3.2.2. By Vehicle Type
7.4.3.2.3. By Drive Type
7.4.3.2.4. By Transmission Type
8. Asia Pacific Green Vehicle Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value and Volume
8.2. Market Share & Forecast
8.2.1. By Propulsion
8.2.2. By Vehicle Type
8.2.3. By Drive Type
8.2.4. By Transmission Type
8.2.5. By Country (China, India, Japan, Malaysia, Thailand, Indonesia, Vietnam, South Korea)
8.3. Product Market Map (By Propulsion, By Country)
8.4. Asia Pacific: Country Analysis
8.4.1. China Green Vehicle Market Outlook
8.4.1.1. Market Size & Forecast
8.4.1.1.1. By Value and Volume
8.4.1.2. Market Share & Forecast
8.4.1.2.1. By Propulsion
8.4.1.2.2. By Vehicle Type
8.4.1.2.3. By Drive Type
8.4.1.2.4. By Transmission Type
8.4.2. India Green Vehicle Market Outlook
8.4.2.1. Market Size & Forecast
8.4.2.1.1. By Value and Volume
8.4.2.2. Market Share & Forecast
8.4.2.2.1. By Propulsion
8.4.2.2.2. By Vehicle Type
8.4.2.2.3. By Drive Type
8.4.2.2.4. By Transmission Type
8.4.3. Japan Green Vehicle Market Outlook
8.4.3.1. Market Size & Forecast
8.4.3.1.1. By Value and Volume
8.4.3.2. Market Share & Forecast
8.4.3.2.1. By Propulsion
8.4.3.2.2. By Vehicle Type
8.4.3.2.3. By Drive Type
8.4.3.2.4. By Transmission Type
8.4.4. Malaysia Green Vehicle Market Outlook
8.4.4.1. Market Size & Forecast
8.4.4.1.1. By Value and Volume
8.4.4.2. Market Share & Forecast
8.4.4.2.1. By Propulsion
8.4.4.2.2. By Vehicle Type
8.4.4.2.3. By Drive Type
8.4.4.2.4. By Transmission Type
8.4.5. Thailand Green Vehicle Market Outlook
8.4.5.1. Market Size & Forecast
8.4.5.1.1. By Value and Volume
8.4.5.2. Market Share & Forecast
8.4.5.2.1. By Propulsion
8.4.5.2.2. By Vehicle Type
8.4.5.2.3. By Drive Type
8.4.5.2.4. By Transmission Type
8.4.6. Indonesia Green Vehicle Market Outlook
8.4.6.1. Market Size & Forecast
8.4.6.1.1. By Value and Volume
8.4.6.2. Market Share & Forecast
8.4.6.2.1. By Propulsion
8.4.6.2.2. By Vehicle Type
8.4.6.2.3. By Drive Type
8.4.6.2.4. By Transmission Type
8.4.7. Vietnam Green Vehicle Market Outlook
8.4.7.1. Market Size & Forecast
8.4.7.1.1. By Value and Volume
8.4.7.2. Market Share & Forecast
8.4.7.2.1. By Propulsion
8.4.7.2.2. By Vehicle Type
8.4.7.2.3. By Drive Type
8.4.7.2.4. By Transmission Type
8.4.8. South Korea Green Vehicle Market Outlook
8.4.8.1. Market Size & Forecast
8.4.8.1.1. By Value and Volume
8.4.8.2. Market Share & Forecast
8.4.8.2.1. By Propulsion
8.4.8.2.2. By Vehicle Type
8.4.8.2.3. By Drive Type
8.4.8.2.4. By Transmission Type
9. Europe & CIS Green Vehicle Market Outlook
9.1. Market Size & Forecast
9.1.1. By Value and Volume
9.2. Market Share & Forecast
9.2.1. By Propulsion
9.2.2. By Vehicle Type
9.2.3. By Drive Type
9.2.4. By Transmission Type
9.2.5. By Country (Germany, France, United Kingdom, Spain, Italy, Belgium, Russia)
9.3. Product Market Map (By Propulsion, By Country)
9.4. Europe & CIS: Country Analysis
9.4.1. Germany Green Vehicle Market Outlook
9.4.1.1. Market Size & Forecast
9.4.1.1.1. By Value and Volume
9.4.1.2. Market Share & Forecast
9.4.1.2.1. By Propulsion
9.4.1.2.2. By Vehicle Type
9.4.1.2.3. By Drive Type
9.4.1.2.4. By Transmission Type
9.4.2. France Green Vehicle Market Outlook
9.4.2.1. Market Size & Forecast
9.4.2.1.1. By Value and Volume
9.4.2.2. Market Share & Forecast
9.4.2.2.1. By Propulsion
9.4.2.2.2. By Vehicle Type
9.4.2.2.3. By Drive Type
9.4.2.2.4. By Transmission Type
9.4.3. United Kingdom Green Vehicle Market Outlook
9.4.3.1. Market Size & Forecast
9.4.3.1.1. By Value and Volume
9.4.3.2. Market Share & Forecast
9.4.3.2.1. By Propulsion
9.4.3.2.2. By Vehicle Type
9.4.3.2.3. By Drive Type
9.4.3.2.4. By Transmission Type
9.4.4. Spain Green Vehicle Market Outlook
9.4.4.1. Market Size & Forecast
9.4.4.1.1. By Value and Volume
9.4.4.2. Market Share & Forecast
9.4.4.2.1. By Propulsion
9.4.4.2.2. By Vehicle Type
9.4.4.2.3. By Drive Type
9.4.4.2.4. By Transmission Type
9.4.5. Italy Green Vehicle Market Outlook
9.4.5.1. Market Size & Forecast
9.4.5.1.1. By Value and Volume
9.4.5.2. Market Share & Forecast
9.4.5.2.1. By Propulsion
9.4.5.2.2. By Vehicle Type
9.4.5.2.3. By Drive Type
9.4.5.2.4. By Transmission Type
9.4.6. Belgium Green Vehicle Market Outlook
9.4.6.1. Market Size & Forecast
9.4.6.1.1. By Value and Volume
9.4.6.2. Market Share & Forecast
9.4.6.2.1. By Propulsion
9.4.6.2.2. By Vehicle Type
9.4.6.2.3. By Drive Type
9.4.6.2.4. By Transmission Type
9.4.7. Russia Green Vehicle Market Outlook
9.4.7.1. Market Size & Forecast
9.4.7.1.1. By Value and Volume
9.4.7.2. Market Share & Forecast
9.4.7.2.1. By Propulsion
9.4.7.2.2. By Vehicle Type
9.4.7.2.3. By Drive Type
9.4.7.2.4. By Transmission Type
10. South America Green Vehicle Market Outlook
10.1. Market Size & Forecast
10.1.1. By Value and Volume
10.2. Market Share & Forecast
10.2.1. By Propulsion
10.2.2. By Vehicle Type
10.2.3. By Drive Type
10.2.4. By Transmission Type
10.2.5. By Country (Brazil, Argentina, Colombia)
10.3. Product Market Map (By Propulsion, By Country)
10.4. South America: Country Analysis
10.4.1. Brazil Green Vehicle Market Outlook
10.4.1.1. Market Size & Forecast
10.4.1.1.1. By Value and Volume
10.4.1.2. Market Share & Forecast
10.4.1.2.1. By Propulsion
10.4.1.2.2. By Vehicle Type
10.4.1.2.3. By Drive Type
10.4.1.2.4. By Transmission Type
10.4.2. Argentina Green Vehicle Market Outlook
10.4.2.1. Market Size & Forecast
10.4.2.1.1. By Value and Volume
10.4.2.2. Market Share & Forecast
10.4.2.2.1. By Propulsion
10.4.2.2.2. By Vehicle Type
10.4.2.2.3. By Drive Type
10.4.2.2.4. By Transmission Type
10.4.3. Colombia Green Vehicle Market Outlook
10.4.3.1. Market Size & Forecast
10.4.3.1.1. By Value and Volume
10.4.3.2. Market Share & Forecast
10.4.3.2.1. By Propulsion
10.4.3.2.2. By Vehicle Type
10.4.3.2.3. By Drive Type
10.4.3.2.4. By Transmission Type
11. Middle East and Africa Green Vehicle Market Outlook
11.1. Market Size & Forecast
11.1.1. By Value and Volume
11.2. Market Share & Forecast
11.2.1. By Propulsion
11.2.2. By Vehicle Type
11.2.3. By Drive Type
11.2.4. By Transmission Type
11.2.5. By Country (South Africa, UAE, Saudi Arabia, Egypt)
11.3. Product Market Map (By Propulsion, By Country)
11.4. Middle East and Africa: Country Analysis
11.4.1. South Africa Green Vehicle Market Outlook
11.4.1.1. Market Size & Forecast
11.4.1.1.1. By Value and Volume
11.4.1.2. Market Share & Forecast
11.4.1.2.1. By Propulsion
11.4.1.2.2. By Vehicle Type
11.4.1.2.3. By Drive Type
11.4.1.2.4. By Transmission Type
11.4.2. UAE Green Vehicle Market Outlook
11.4.2.1. Market Size & Forecast
11.4.2.1.1. By Value and Volume
11.4.2.2. Market Share & Forecast
11.4.2.2.1. By Propulsion
11.4.2.2.2. By Vehicle Type
11.4.2.2.3. By Drive Type
11.4.2.2.4. By Transmission Type
11.4.3. Saudi Arabia Green Vehicle Market Outlook
11.4.3.1. Market Size & Forecast
11.4.3.1.1. By Value and Volume
11.4.3.2. Market Share & Forecast
11.4.3.2.1. By Propulsion
11.4.3.2.2. By Vehicle Type
11.4.3.2.3. By Drive Type
11.4.3.2.4. By Transmission Type
11.4.4. Egypt Green Vehicle Market Outlook
11.4.4.1. Market Size & Forecast
11.4.4.1.1. By Value and Volume
11.4.4.2. Market Share & Forecast
11.4.4.2.1. By Propulsion
11.4.4.2.2. By Vehicle Type
11.4.4.2.3. By Drive Type
11.4.4.2.4. By Transmission Type
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends and Developments
14. Green Vehicle Standards, By Country
15. Competitive Landscape
15.1. Company Profiles (Partial List of Leading Companies)
15.1.1. Honda Motor Company Limited
15.1.2. Hyundai Motor Company
15.1.3. General Motors Company
15.1.4. Subaru Corporation
15.1.5. Volkswagen AG
15.1.6. Ford Motor Company
15.1.7. Nissan Motor Co., Ltd.
15.1.8. Daimler AG
15.1.9. Toyota Motor Corporation
15.1.10. BMW AG
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