The Alternative Powertrain Global Market Report 2023, provides comprehensive information on the alternative powertrain market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Alternative Powertrain Global Market Report 2023, the global alternative powertrain market size is expected to grow from $90.61 billion in 2022 to $109.50 billion in 2023 at a compound annual growth rate (CAGR) of 20.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global alternative powertrain market size is expected to grow to $225.87 billion in 2027 at a CAGR of 19.8%.
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Technological advancements are a key trend gaining popularity in the alternative powertrain market. Major companies operating in the alternative powertrain market are focusing on developing new technologies to strengthen their position in the market. For instance, in May 2022, US Hybrid, a US-based designer and manufacturer of power conversion systems, launched near-zero-emission, natural gas-powered parallel hybrid powertrain technology to be used for drayage and long-haul trucks. This technology's unique features include more power, range, and an efficient powertrain compared to diesel-powered engines or other CNG or renewable natural gas (RNG) alternatives. With the help of this technology, conventional long-haul fleet operators should be able to provide near-zero-emission roadside charging assistance, giving fleet clients flexibility and convenience.
The alternative powertrain market is segmented:
1) By Powertrain: Battery Electric Vehicle Powertrain, Hybrid Powertrain
2) By Component: Battery, Motor or Generator, Battery Management System (BMS), On-Board Charger
3) By Application: Commercial Vehicle, Passenger Cars, Off Highway
Asia-Pacific was the largest region in the alternative powertrain market in 2022.
The table of contents in TBRC’s alternative powertrain market report includes:
1. Executive Summary
2. Alternative Powertrain Market Characteristics
3. Alternative Powertrain Market Trends And Strategies
4. Alternative Powertrain Market - Macro Economic Scenario
5. Alternative Powertrain Market Size And Growth
.....
26. Africa Alternative Powertrain Market
27. Alternative Powertrain Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Alternative Powertrain Market
29. Alternative Powertrain Market Future Outlook and Potential Analysis
30. Appendix
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