Report Description

The global green vehicle market is anticipated to witness a growth of steady CAGR in the forecast period, 2023-2027. 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.


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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.

Attribute

Details

Base Year

2021

Historic Data

2017 – 2020

Estimated Year

2022

Forecast Period

2023 – 2027

Quantitative Units

Revenue in USD Million, Volume in Units, and CAGR for 2017-2021 and 2022-2027

Report coverage

Revenue forecast, volume forecast, company share, competitive landscape, growth factors, and trends

Segments covered

·         Propulsion

·         Vehicle Type

·         Drive Type

·         Transmission Type

Regional scope

North America; Asia Pacific; Europe & CIS; South America; Middle East & Africa

Country scope

United States; Canada; Mexico; China; India; Japan; Malaysia; Thailand; Indonesia; Vietnam; South Korea; Germany; France; United Kingdom; Spain; Italy; Belgium; Russia; Brazil; Argentina; Colombia; South Africa; UAE; Saudi Arabia; Egypt

Key companies profiled

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

Customization scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

 

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:
    • Hybrid
    • Electric
    • Hydrogen Fuel
    • Gas
    • Clean Diesel
    • Flexible Fuel
  • Green Vehicle Market, By Vehicle Type:
    • Two-Wheeler
    • Passenger Car
    • Light Commercial Vehicle (LCV)
    • Medium & Heavy Commercial Vehicle (M&HCV)
    • OTR
  • Green Vehicle Market, By Drive Type:
    • FWD
    • RWD
    • AWD
  • Green Vehicle Market, By Transmission Type:
    • Automatic
    • Manual
  • Green Vehicle Market, By Region:
    • North America
      • United States
      • Canada
      • Mexico
    • Asia-Pacific
      • China
      • India
      • Japan
      • Malaysia
      • Thailand
      • Indonesia
      • Vietnam
      • South Korea
    • Europe & CIS
      • Germany
      • France
      • United Kingdom
      • Spain
      • Italy
      • Belgium
      • Russia
    • South America
      • Brazil
      • Argentina
      • Colombia
    • 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).

Global green vehicle market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]  

Table of content

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)

8.2.6.     Product Market Map (By Propulsion, By Country)

8.3.  Asia Pacific: Country Analysis

8.3.1.     China Green Vehicle Market Outlook

8.3.1.1.         Market Size & Forecast

8.3.1.1.1.             By Value and Volume

8.3.1.2.         Market Share & Forecast

8.3.1.2.1.             By Propulsion

8.3.1.2.2.             By Vehicle Type

8.3.1.2.3.             By Drive Type

8.3.1.2.4.             By Transmission Type

8.3.2.     India Green Vehicle Market Outlook

8.3.2.1.         Market Size & Forecast

8.3.2.1.1.             By Value and Volume

8.3.2.2.         Market Share & Forecast

8.3.2.2.1.             By Propulsion

8.3.2.2.2.             By Vehicle Type

8.3.2.2.3.             By Drive Type

8.3.2.2.4.             By Transmission Type

8.3.3.     Japan Green Vehicle Market Outlook

8.3.3.1.         Market Size & Forecast

8.3.3.1.1.             By Value and Volume

8.3.3.2.         Market Share & Forecast

8.3.3.2.1.             By Propulsion

8.3.3.2.2.             By Vehicle Type

8.3.3.2.3.             By Drive Type

8.3.3.2.4.             By Transmission Type

8.3.4.     Malaysia Green Vehicle Market Outlook

8.3.4.1.         Market Size & Forecast

8.3.4.1.1.             By Value and Volume

8.3.4.2.         Market Share & Forecast

8.3.4.2.1.             By Propulsion

8.3.4.2.2.             By Vehicle Type

8.3.4.2.3.             By Drive Type

8.3.4.2.4.             By Transmission Type

8.3.5.     Thailand Green Vehicle Market Outlook

8.3.5.1.         Market Size & Forecast

8.3.5.1.1.             By Value and Volume

8.3.5.2.         Market Share & Forecast

8.3.5.2.1.             By Propulsion

8.3.5.2.2.             By Vehicle Type

8.3.5.2.3.             By Drive Type

8.3.5.2.4.             By Transmission Type

8.3.6.     Indonesia Green Vehicle Market Outlook

8.3.6.1.         Market Size & Forecast

8.3.6.1.1.             By Value and Volume

8.3.6.2.         Market Share & Forecast

8.3.6.2.1.             By Propulsion

8.3.6.2.2.             By Vehicle Type

8.3.6.2.3.             By Drive Type

8.3.6.2.4.             By Transmission Type

8.3.7.     Vietnam Green Vehicle Market Outlook

8.3.7.1.         Market Size & Forecast

8.3.7.1.1.             By Value and Volume

8.3.7.2.         Market Share & Forecast

8.3.7.2.1.             By Propulsion

8.3.7.2.2.             By Vehicle Type

8.3.7.2.3.             By Drive Type

8.3.7.2.4.             By Transmission Type

8.3.8.     South Korea Green Vehicle Market Outlook

8.3.8.1.         Market Size & Forecast

8.3.8.1.1.             By Value and Volume

8.3.8.2.         Market Share & Forecast

8.3.8.2.1.             By Propulsion

8.3.8.2.2.             By Vehicle Type

8.3.8.2.3.             By Drive Type

8.3.8.2.4.             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

 16. Strategic Recommendations

Figures and Tables

Frequently asked questions

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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 the major players of the global green vehicle market.

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Stringent emission norms, high demand for zero emission vehicles and growing crude oil prices are driving the demand for global green vehicle market in the forecast period.

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Lack of appropriate infrastructure and high initial manufacturing cost of vehicles may hinderance in the market growth in the forecast period.

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Based on vehicle type, the market is divided into two-wheeler, passenger car, light commercial vehicle (LCV), medium & heavy commercial vehicle (M&HCV), and OTR. Passenger car is expected to hold the largest market share in the forecast period.

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Srishti Verma

Business Consultant
Press Release

Green Vehicle Market to be dominated by North American region through 2027

Feb, 2022

Rise in investments by leading OEMs and growing consumer awareness about benefits of using green vehicles are expected to drive the growth of global green vehicle market in the forecast period, 2023-