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Zero Emission Vehicle Market by Vehicle Type (BEV, PHEV, FCEV, Solar Vehicles), by Vehicle Class (Passenger Cars, Commercial Vehicles, Two Wheelers), by Price (Mid-Priced, Luxury), by Vehicle Drive Type (Front Wheel Drive, Rear Wheel Drive, All Wheel Drive), by Top Speed (Less Than 100 MPH, 100 to 125 MPH, More Than 125 MPH): Global Opportunity Analysis and Industry Forecast, 2022-2030

Zero Emission Vehicle Market by Vehicle Type (BEV, PHEV, FCEV,...

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Zero Emission Vehicle Market by Vehicle Type (BEV, PHEV, FCEV, Solar Vehicles), by Vehicle Class (Passenger Cars, Commercial Vehicles, Two Wheelers), by Price (Mid-Priced, Luxury), by Vehicle Drive Type (Front Wheel Drive, Rear Wheel Drive, All Wheel Drive), by Top Speed (Less Than 100 MPH, 100 to 125 MPH, More Than 125 MPH): Global Opportunity Analysis and Industry Forecast, 2022-2030
Zero Emission Vehicle Market by...
Report Code
RO14/128/2136

Publish Date
16/Aug/2022

Pages
200
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The global zero emission vehicle market size was US$ 181.8 billion in 2021. The global zero emission vehicle market is projected to grow to US$ 1,189.7 billion by 2030, registering a compound annual growth rate (CAGR) of 19.1% during the study period, i.e.,2022-2030.
A zero emission vehicle (ZEV) is one that uses its onboard power source to develop no exhaust pollutants. These vehicles operate on alternative energy sources like battery electricity, natural gas, and solar power.

Factors Influencing the Market
The rapidly rising concern about environmental pollution primarily drives the zero emission vehicle market forward. Automation is leading a new revolution across the globe. In addition, emission caused due to internal combustion engines degrades the environment and harms the people ultimately. Meanwhile, zero emission vehicles (ZEVs) are emerging as a significant solution that would notably fuel the growth of the zero emission vehicle market during the analysis period.
Technological advancements are expected to propel the market forward. For instance, Hyundai Group inked a partnership with IONITY in 2020. IONITY is a high-power charging station network that utilizes approximately 100% renewable energy to reach carbon-neutral mobility. Thus, such efforts can have a potential impact on the zero emission vehicle market during the analysis period.
Also, governments of various developed nations have introduced initiatives to decline vehicular and industrial pollution. Moreover, companies are also making contributions to propel the new sustainable era. For instance, Hyundai Motor Group & LG Energy Solutions Ltd. inked a strategic pact with the government of Indonesia with the aim to build an EV battery cell plant in Karawang. The plant is expected to have an annual capacity of 10-GWh worth of battery cells. Apart from that, according to the U.S. Environmental Protection Agency (EPA), new regulations are being developed to reduce nitrogen oxide (NOx) and other pollution emissions from heavy-duty trucks.
On the contrary, the high manufacturing cost of zero emission vehicles may limit the growth of the market during the analysis period.

Regional Analysis
Europe is expected to record the highest growth rate during the study period, owing to the stringent regulations imposed by the governments and the growing era of sustainability.

Competitors in the Market
Ampere Vehicles
Benling India Energy and Technology Pvt Ltd
BMW AG
BYD Company Limited
Chevrolet Motor Company
Daimler AG
Energica Motor Company S.p.A.
Ford Motor Company
General Motors
Hero Electric
Hyundai Motor Company
Karma Automotive
Kia Corporation
Lucid Group, Inc.
Mahindra Electric Mobility Limited
NIO
Nissan Motors Co., Ltd.
Okinawa Autotech Pvt. Ltd.
Rivain
Tata Motors
Tesla Inc.
Toyota Motor Corporation
Volkswagen AG
WM Motor
Xiaopeng Motors
Sono Motors (Key Innovator)
Hanergy Thin Film Power Group (Key Innovator)
Solar Electric Vehicle Company (Key Innovator)
Alke (Key Innovator)
Lightyear (Key Innovator)
Other Prominent Players

Market Segmentation
The global zero emission vehicle market segmentation focuses on Vehicle Class, Price, Vehicle Type, Vehicle Drive, Speed, and Region.
By Vehicle Class
Passenger Cars
Commercial Vehicles
Two Wheelers
By Price
Mid-Priced
Luxury
By Vehicle Type
BEV
PHEV
FCEV
Solar Vehicles
By Vehicle Drive Type
Front Wheel Drive
Rear Wheel Drive
All Wheel Drive
By Top Speed
Less Than 100 MPH
100 to 125 MPH
More Than 125 MPH
By Regional Outlook
? North America
o The U.S.
o Canada
o Mexico
? Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
? Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
? Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
? South America
o Brazil
o Argentina
o Rest of South America

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