Market Overview:
The global alternatively powered commercial vehicle market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for fuel-efficient and low-emission vehicles across the globe. Additionally, stringent emission norms by regulatory authorities are also propelling the demand for alternatively powered commercial vehicles. The global alternatively powered commercial vehicle market is segmented on the basis of type, application, and region. On the basis of type, the market is segmented into liquid natural gas (LNG), compressed natural gas (CNG), liquid petroleum gas (LPG), electric (all electric) biofuels, and fuel cells. LNG held a major share in 2017 owing to its high efficiency and low emissions as compared to other types of alternative fuels. However, CNG is projected to grow at a higher rate during the forecast period as it offers cost benefits over traditional fuels such as gasoline or diesel. On the basis of application, fleet operators accounted for a majority share in 2017 owing to government initiatives towards fleet electrification across developed countries such as Europe and North America.
Product Definition:
An alternatively powered commercial vehicle is a type of vehicle that runs on a fuel other than gasoline or diesel. This type of vehicle is becoming more popular as the world moves toward greener energy sources. There are many benefits to using an alternatively powered commercial vehicle, including decreased emissions, lower fuel costs, and reduced dependence on foreign oil.
Liquid Natural Gas:
Liquid natural gas (LNG) is a form of unconventional gas that consists of methane and ethane. It is commonly found in the form of condensates which are extracted from large shale beds deep under the earth's surface. The extraction process involves drilling a wellbore then converting the liquid into a gaseous mixture using an LNG liquefaction plant, this process produces lower carbon emissions and toxic gases as compared to conventional methods such as coal or petroleum-based fuel systems.
Compressed Natural Gas:
Compressed natural gas (CNG) is a type of gas that is widely used in the transportation and storage sectors. It can be used as a fuel in conventional vehicles, electric vehicles, hybrid electric vehicles or buses. CNG has many benefits over gasoline such as lower carbon emissions and higher energy efficiency which makes it an ideal alternative for gasoline use globally.
Application Insights:
Commercial vehicle fleet was the largest application segment in 2017 and is projected to witness significant growth over the forecast period. Increasing demand for LNG as a fuel source in commercial vehicles to replace diesel and petrol is expected to drive this segment over the next eight years.
The transportation application segment accounted for a share of 33.3% of the global market in terms of revenue in 2017 owing to increasing government initiatives on promoting electric vehicles across various modes of transport such as railways, airways and waterways among others. The aforementioned factors are anticipated to promote growth over the forecast period for this segment with respect to other applications which will have an impact on overall industry growth during that time frame.
Regional Analysis:
Asia Pacific is anticipated to be the fastest growing region, owing to increasing government regulations and initiatives for the deployment of electric vehicles across various countries in this region. For instance, China has planned about how many charging stations will be available by 2020. The Chinese government has also planned about giving subsidies on these vehicles and establishing EV-charging infrastructure at commercial centers, hotels, restaurants and public buildings among other places.
Europe accounted for 24% of the overall market share in 2017 owing to stringent emission norms coupled with an increasing number of manufacturers focusing on developing innovative solutions that comply with these standards is expected drive growth over next eight years.
Growth Factors:
- Increasing demand for fuel-efficient and environment-friendly vehicles
- Government initiatives and regulations for promoting the use of alternatively powered commercial vehicles
- Rising prices of traditional fuels such as petrol and diesel
- Development of advanced technologies for alternatively powered commercial vehicles
- Growing awareness about the benefits of using alternatively powered commercial vehicles
Scope Of The Report
Report Attributes
Report Details
Report Title
Alternatively Powered Commercial Vehicle Market Research Report
By Type
Liquid Natural Gas, Compressed Natural Gas, Liquid Petroleum Gas, Electric (all electric) Bio Fuels, Fuel Cells
By Application
Commercial Vehicle Fleet, Transportation
By Companies
BYD, NIO, Beijing Automotive Group, Tesla, SAIC Motor Corporation Limited, Geely, TOYOTA, BMW, Volkswagen Group, Renault S.A., Hyundai Motor Group, CHERY
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
174
Number of Tables & Figures
122
Customization Available
Yes, the report can be customized as per your need.
Global Alternatively Powered Commercial Vehicle Market Report Segments:
The global Alternatively Powered Commercial Vehicle market is segmented on the basis of:
Types
Liquid Natural Gas, Compressed Natural Gas, Liquid Petroleum Gas, Electric (all electric) Bio Fuels, Fuel Cells
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Commercial Vehicle Fleet, Transportation
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- BYD
- NIO
- Beijing Automotive Group
- Tesla
- SAIC Motor Corporation Limited
- Geely
- TOYOTA
- BMW
- Volkswagen Group
- Renault S.A.
- Hyundai Motor Group
- CHERY
Highlights of The Alternatively Powered Commercial Vehicle Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Liquid Natural Gas
- Compressed Natural Gas
- Liquid Petroleum Gas
- Electric (all electric) Bio Fuels
- Fuel Cells
- By Application:
- Commercial Vehicle Fleet
- Transportation
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Alternatively Powered Commercial Vehicle Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
An alternatively powered commercial vehicle is a vehicle that uses electricity as its primary source of power. This type of vehicle can be used for transportation purposes, such as delivery or cargo transport.
Some of the major players in the alternatively powered commercial vehicle market are BYD, NIO, Beijing Automotive Group, Tesla, SAIC Motor Corporation Limited, Geely, TOYOTA, BMW, Volkswagen Group, Renault S.A., Hyundai Motor Group, CHERY.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Alternatively Powered Commercial Vehicle Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Alternatively Powered Commercial Vehicle Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Alternatively Powered Commercial Vehicle Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Alternatively Powered Commercial Vehicle Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Alternatively Powered Commercial Vehicle Market Size & Forecast, 2018-2028
4.5.1 Alternatively Powered Commercial Vehicle Market Size and Y-o-Y Growth
4.5.2 Alternatively Powered Commercial Vehicle Market Absolute $ Opportunity
Chapter 5 Global Alternatively Powered Commercial Vehicle Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Alternatively Powered Commercial Vehicle Market Size Forecast by Type
5.2.1 Liquid Natural Gas
5.2.2 Compressed Natural Gas
5.2.3 Liquid Petroleum Gas
5.2.4 Electric (all electric) Bio Fuels
5.2.5 Fuel Cells
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Alternatively Powered Commercial Vehicle Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Alternatively Powered Commercial Vehicle Market Size Forecast by Applications
6.2.1 Commercial Vehicle Fleet
6.2.2 Transportation
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Alternatively Powered Commercial Vehicle Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Alternatively Powered Commercial Vehicle Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Alternatively Powered Commercial Vehicle Analysis and Forecast
9.1 Introduction
9.2 North America Alternatively Powered Commercial Vehicle Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Alternatively Powered Commercial Vehicle Market Size Forecast by Type
9.6.1 Liquid Natural Gas
9.6.2 Compressed Natural Gas
9.6.3 Liquid Petroleum Gas
9.6.4 Electric (all electric) Bio Fuels
9.6.5 Fuel Cells
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Alternatively Powered Commercial Vehicle Market Size Forecast by Applications
9.10.1 Commercial Vehicle Fleet
9.10.2 Transportation
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Alternatively Powered Commercial Vehicle Analysis and Forecast
10.1 Introduction
10.2 Europe Alternatively Powered Commercial Vehicle Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Alternatively Powered Commercial Vehicle Market Size Forecast by Type
10.6.1 Liquid Natural Gas
10.6.2 Compressed Natural Gas
10.6.3 Liquid Petroleum Gas
10.6.4 Electric (all electric) Bio Fuels
10.6.5 Fuel Cells
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Alternatively Powered Commercial Vehicle Market Size Forecast by Applications
10.10.1 Commercial Vehicle Fleet
10.10.2 Transportation
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Alternatively Powered Commercial Vehicle Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Alternatively Powered Commercial Vehicle Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Alternatively Powered Commercial Vehicle Market Size Forecast by Type
11.6.1 Liquid Natural Gas
11.6.2 Compressed Natural Gas
11.6.3 Liquid Petroleum Gas
11.6.4 Electric (all electric) Bio Fuels
11.6.5 Fuel Cells
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Alternatively Powered Commercial Vehicle Market Size Forecast by Applications
11.10.1 Commercial Vehicle Fleet
11.10.2 Transportation
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Alternatively Powered Commercial Vehicle Analysis and Forecast
12.1 Introduction
12.2 Latin America Alternatively Powered Commercial Vehicle Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Alternatively Powered Commercial Vehicle Market Size Forecast by Type
12.6.1 Liquid Natural Gas
12.6.2 Compressed Natural Gas
12.6.3 Liquid Petroleum Gas
12.6.4 Electric (all electric) Bio Fuels
12.6.5 Fuel Cells
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Alternatively Powered Commercial Vehicle Market Size Forecast by Applications
12.10.1 Commercial Vehicle Fleet
12.10.2 Transportation
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Alternatively Powered Commercial Vehicle Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Alternatively Powered Commercial Vehicle Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Alternatively Powered Commercial Vehicle Market Size Forecast by Type
13.6.1 Liquid Natural Gas
13.6.2 Compressed Natural Gas
13.6.3 Liquid Petroleum Gas
13.6.4 Electric (all electric) Bio Fuels
13.6.5 Fuel Cells
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Alternatively Powered Commercial Vehicle Market Size Forecast by Applications
13.10.1 Commercial Vehicle Fleet
13.10.2 Transportation
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Alternatively Powered Commercial Vehicle Market: Competitive Dashboard
14.2 Global Alternatively Powered Commercial Vehicle Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 BYD
14.3.2 NIO
14.3.3 Beijing Automotive Group
14.3.4 Tesla
14.3.5 SAIC Motor Corporation Limited
14.3.6 Geely
14.3.7 TOYOTA
14.3.8 BMW
14.3.9 Volkswagen Group
14.3.10 Renault S.A.
14.3.11 Hyundai Motor Group
14.3.12 CHERY
