- The key vendors in the low emission vehicle market in the US 2015-2019 are BMW, Ford Motors, GM, Honda Motors, Toyota and Volkswagen.
London, 28 August 2015: Technavio, an independent tech-focused global research firm, has announced the publication of its market research report on the low emission vehicle market in the US 2015-2019. The growing demand for EVs offers the country an excellent opportunity to reduce its oil consumption; it also helps consumers reduce their fuel costs. Powering an EV is cheaper compared to fueling conventional vehicles. The low emission vehicle market in the US is estimated to grow at a CAGR of 5.13% during the forecast period.
OEMs are focusing on alternative fuel vehicle technologies to meet the emission norms. In addition, the various benefits and incentives being offered by the state and federal governments in the form of rebates and tax credit will help improve the market growth.
“Governments worldwide are playing an active role in protecting the environment and making efforts to reduce greenhouse gas emissions,” says Faisal Ghaus, Vice President of Technavio Research.
“Vehicles that run on alternate fuels especially EVs is gaining popularity worldwide, especially in the US. The US EPA and National Highway Traffic Safety Administration (NHTSA) are taking initiatives to support the production of eco-friendly vehicles, from passenger cars to commercial vehicles, to improve usage of alternate fuels and reduce carbon emissions.”
To define the market conditions in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
