Low-Carbon Propulsion Market worth 11,640 thousand units by 2027

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MarketsandMarkets Presents

Low-Carbon Propulsion Market worth 11,640
thousand units by 2027
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ow-carbon-propulsion-market-13593387.html
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The report "Low-Carbon Propulsion Market by Fuel
Type (CNG, LNG, Ethanol, Electric and Hydrogen),
Mode (Rail and Road), Vehicle Type (Heavy-Duty
and Light-Duty), Rail Application (Passenger and
Freight), Electric Vehicle, and Region - Global
Forecast to 2027", size is projected to grow at a
CAGR of 21.5 during the forecast period, to
reach 11,640 thousand units by 2027 from an
estimated 2,980 thousand units in 2020. Browse
123 market data Tables and 71 Figures spread
through 225 Pages and in-depth TOC on "Low-Carbon
Propulsion Market The prices of oils are highly
uncertain and subject to international market
conditions influenced by factors outside of the
National Energy Modelling System, which is a
major driver for the low-carbon propulsion
market. The High Oil Price and Low Oil Price
cases represent international conditions that
could drive prices to extreme, sustained
deviations from the reference case price path.
For instance, in the High Oil Price case, non-US
demand for petroleum and other liquids is higher
and non-US supply of liquids is lower, whereas,
in the Low Oil Price case, the situation is
opposite. With better efficiency and reduction in
carbon emissions by CNG, LNG, and electric
vehicles, manufacturers are now also focusing on
the development and promotion of hydrogen
vehicles. Toyota, Hyundai, Honda, Daimler,
Nicola, BYD, Tesla, Yutong, and Proterra are the
key OEMs in the low-carbon propulsion market.
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The COVID-19 outbreak has unleashed an
unprecedented socio-economic global crisis,
affecting all industry sectors and citizens
worldwide. Shutting down of major chunks of
fueling stations has added to the crisis. But the
revival of the situation by reopening production
plants gradually is reducing the negative impact,
and thus, the market is expected to grow in the
coming years. Get The PDF Brochure For This
Report _at_ https//www.marketsandmarkets.com/pdfdow
nloadNew.asp?id13593387 Light-duty is expected
to hold the largest share in the low-carbon
propulsion market during the forecast
period. The light-duty vehicle segment is
expected to be the largest market since these are
used globally for maximum transportation within
cities. Last-mile delivery vans and trucks are
the most demanded vehicles due to the emergence
of the eCommerce sector. The government
organizations are keeping a close track of CO2
emissions from these vehicles. For instance, on
December 17, 2018, the European Commission, the
European Parliament, and the European Council
agreed upon targets aimed to reduce the average
CO2 emissions from light-duty vehicles by 15 for
2025 and 31 for 2030. The key players in the
low-carbon propulsion market are Tesla (US), BYD
(China), Nissan (Japan), Yutong (China), and
Proterra (US).
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Alternative fuels are an excellent choice for
pickup trucks, vans, and SUVs because they
provide the power, performance, and range that
fleets require. Currently, Fiat Chrysler is the
only light-duty OEM with a factory-built natural
gas vehicle available in the US marketRAM 2500
CNG. Passenger, in the rail application segment,
is estimated to be the largest market during the
forecast period Alternative fuel trains offer
the benefit of cost-effective and efficient
transportation of passengers as well as freight.
Several cities are implementing new rail
infrastructure projects to reduce road congestion
and provide an affordable means of transportation
at an intercity as well as an intra-city level.
Increasing urbanization and growing demand for
increased connectivity, comfort, reliability, and
safety will boost the passenger segment. Since
all modes of public transports are suffering
heavy losses due to limited operations during
COVID-19, passenger rails and freight are also
hard hit by the outbreak. Although transport is
ongoing in a controlled way, the scenario for
full-scale operations will face a downfall for at
least a year. Hence, the market for low-carbon
propulsions in passenger rails and freight will
be hampered for a while. To speak to our
analyst for a discussion on the above findings,
click Speak to Analyst
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Asia Pacific region is expected to have the
largest share in the low-carbon propulsion market
from 2020 through 2027. The growth of Asia can
be attributed due to the prices for CNG/LNG in
transport that is comparatively lesser than
gasoline and diesel as a fuel. Also, the adoption
of electric and hydrogen driven transports in the
region, mainly due to Chinas approach towards
cleaner technologies, is the major contributor to
this market. For instance, CRRC Tangshan Railway
Company has introduced a prototype low-floor LRV,
FCveloCity, powered by Ballard Power Systems
hydrogen fuel cell technology, which is being
tested on a new 14 km light rail line in China.
In addition to this, the fact that China has
resumed industrial operations progressively from
mid-FebruaryVolkswagen, Nissan, Hyundai, and
Honda re-openings production plantswould help
drive the market recover quickly in China South
Korea targets the number of hydrogen refilling
stations (HRS) to reach 1,200 by 2040. On the
other hand, Japan has been consistent in the
development of HRS and announced the development
of 80 HRS by 2021 with the help of collaborative
efforts from the Japanese government and Japan H2
Mobility (JHyM). Moreover, Toyota, Nissan, and
Honda have formed joint ventures with major gas
and energy firms to build 80 new hydrogen
stations in the next four years to add to the
existing operational HRSs in Japan. Request FREE
Sample Report _at_ https//www.marketsandmarkets.com/
requestsampleNew.asp?id13593387
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ow-carbon-propulsion-market-13593387.html
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