Automotive Low Emission Vehicle Market Information by Degree of Hybridization (EV, HEV, MHEV, PHEV), Battery Type (Metal Hydride, Lithium Ion, Nickel Cadmium, Lead Acid), Vehicle Type (Passenger, LCV, HCV), and Region - Global Forecast to 2023.
The one thing that, however, went unnoticed with the automakers around the world is that the excessive use of fossil fuels (diesel and petrol, in particular) has caused a chain of climate change activities, including global warming.
To counter this climatic hazard, the one technology that can actually make things right and provide sustainable transport means to the global consumer is the electric vehicle technology.
Secondly, governments over the world are providing subsidies and tax exemptions for the development of electric vehicle technology.
Automotive Low Emission Vehicle Market, By Segmentation:
On the basis of degree of hybridization, the most widely utilized and popular variety is the MHEV owing to the fact that they run primarily on internal combustion engine using either petrol or diesel, and are assisted by an electric motor attached to the engine.
The global Low Speed Vehicle Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
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Increasing geriatric population and LSVs considered a viable option for transport over short distances would benefit market growth.
The rising use of LSVs in hotels & resorts, industrial facilities, golf courses, gated communities, & college campuses for transport will further fuel these vehicles’ demand.
The booming hospitality sector and increased use of LSVs in the lucrative golf sector will boost the market growth.
