"Global Low (Zero) Emission Vehicle Market - By Degree of Hybridization (Mild Hybrid Electric Vehicle (MHEV), Full Hybrid Electric Vehicle (FHEV), Plug-In Hybrid Electric Vehicle (PHEV) and Pure Electric Vehicle (EV or BEV)) and By Type of Traction Battery Used (Lead Acid Battery, Nickel Cadmium Battery (NiCad), Metal Hydride Battery (NimH) and Lithium Ion Battery, Global Forecast, Trends and Analysis 2012 - 2017"
Low emission vehicles are expected to witness good growth as they are being accepted across the globe. Currently, low emission market is dominated by Full Hybrid Electric Vehicles (FHEVs) and expected to remain as market leader during the forecasted period. The market of North America is expected to be the biggest one for FHEVs. However, our research says that market for PHEVs and BEVs will develop at a faster rate due to governments' initiatives to develop charging infrastructure in battery technology. The governments of Europe and China are promoting BEVs due to presence of competitive advantages over the other countries. China can shift to electric vehicle propulsion technology faster than its counterparts due to its ability to heavily invest in its development. Europe is already well equipped when it comes to charging infrastructure for EVs.
The most widely used batteries for low emission vehicle market are lead-acid batteries, Nickel-Cadmium batteries (NiCad), metal hydride batteries (NimH), and lithium ion batteries. Till date, the mass produced FHEV cars have been powered by nickel metal-hydride (NiMH) batteries. However, there are certain noticeable rapid shifts in consumption pattern of batteries used for HEVs. Due to high energy density of lithium ion battery, loads of FHEV manufacturers such as Honda Motors (Japan) and Ford Motors (Germany) will be switching over to the lithium ion battery for FHEV. As an outcome, lithium ion battery is expected to capture the lion's share in automotive battery market by 2017.
The global low emission vehicle market was valued $21.13 billion in 2011 and is expected to grow from $27.45 billion in 2012 to $103.13 billion by 2017 at an estimated CAGR of 30.3% from 2012 to 2017. 826.8 thousand low emission vehicle were shipped on a global level for 2011 and the number is expected to reach 3532.1 thousand by 2017, at an estimated CAGR of 27.8% from 2012 to 2017.
For the low emission vehicle market, increase in the global price of petroleum-based fuel; rise in the number of initiatives taken by different governments, ever-increasing availability of different HEV models, and continuous development in battery technology are acting as drivers. Lack of support infrastructure, power, performance, and higher cost as compared to ICE-vehicle end-user segments are acting as restraints. Charging infrastructure market and vehicle-to-grid (V2G) technology are the future opportunities for low emission vehicle market.
The low emission vehicle market research report categorizes the global market on the basis of degree of hybridization, different types of batteries used in the vehicle, and geographical analysis. Market segmentation also includes forecasting revenue and analyzing trends in the global low emission vehicle market.
In this section, global alternative fuel market or HEV market is divided as per the degree of hybridization. Full Hybrid Electric Vehicle (FHEV), Mild Hybrid Electric Vehicle (MHEV), Plug-in Hybrid Electric Vehicle (PHEV), and Pure Electric Vehicle (BEV or EV) are the prominent types of hybrid vehicle. The other hybrid vehicle, i.e. fuel cell vehicle (FCV) is yet to be commercialized.
In this section, global alternative fuel market or HEV market is divided as per the different types of traction batteries used in the vehicle. Lead acid batteries, Nickel-Cadmium batteries (NiCad), metal hydride batteries; especially nickel metal hydride (NimH) and lithium ion batteries are the prominent ones used in HEV market.
Each section will provide market data, market drivers, trends and opportunities, key players, and competitive outlook. This report will provide market tables for covering the sub-segments and micro-markets. In addition, the report makes ways for more than 20 company profiles; covering all the sub-segments such as "company overview", "products & services", "financials", "strategy", and "developments".
Modern HEVs make use of efficiency-improving technologies such as regenerative braking, which converts the vehicle's kinetic energy into electric energy to charge the battery, rather than wasting it as heat energy as conventional brakes do. Some varieties of HEVs use their internal combustion engine to generate electricity by spinning an electrical generator (this combination is known as a motor-generator), to either recharge their batteries or to directly power the electric drive motors. Many HEVs reduce idle emissions by shutting down the ICE at idle and restarting it when needed; this is known as a start-stop system. A hybrid-electric produces less emissions from its ICE than a comparably-sized gasoline car, since an HEV's gasoline engine is usually smaller than a comparably-sized pure gasoline-burning vehicle (natural gas and propane fuels produce lower emissions) and if not used to directly drive the car, can be geared to run at maximum efficiency, further improving fuel economy.
Companies such as Toyota Motors (Japan), Honda Motors (Japan), Skoda Motors (Germany) and General Motors (U.S.) are the few of the key players in the global HEV market. Nissan Motors (Japan), Mitsubishi Motors (Japan) and Tesla Motors (U.S.) are the prominent players in global EV market.
There are different environmental or safety-related mandates initiated by governments such as CAFE (U.S.) and EURO standards (Europe). These environmental regulations tend to concentrate on emission control and economy of the fuel. The objective is to optimize the performance of the engine as well as powertrain, which subsequently reduces the fuel consumption and emission. Besides regulatory standards initiated by governments, development in battery technology is also a deciding factor in the success of low emission vehicles. HEV auto manufacturers are facing big challenges finding suitable storage solutions for their hybrid electric vehicles. The batteries used for hybrid vehicles (HEV/PHEV/EV) should be inexpensive, small, light, and safe. They should have high power and energy density and should last for good number years without significant degradation. Currently, batteries used for hybrid vehicle do not meet all the criteria at once but lithium ion battery seems to the best option, as far as future is concerned due to its high energy density. Till date, the mass produced FHEV cars have been powered by nickel metal-hydride (NiMH) batteries, but shift in deployment of battery technology is expected due to advancement of technology in lithium ion battery. So significant upgradation and development of the new products for the low emission market have been the main strategies followed by the key players in this market.