Market Research

Alternative Fuel Vehicle Market to Grow 15% Over the Next 5 Years

The alternative fuel vehicle market is expected to grow at an average rate of 15.2% from 2019 to 2025, according to a report released by Market Research Report Store.

The global average price of alternative fuel vehicle is expected to continue to decrease over the next five years. The price decreased to $32,222 in 2019 from $36,700 in 2014, the report said.

Alternative fuel vehicles are classified into electricity, natural gas and others. Electric vehicles comprised 66.48% of the market in 2018.

On the basis of consumption, China is the largest market with about 39% of the market share followed by Europe with about 25.61% of share in 2018.

Tesla, BMW Group, BYD, Yutong, Daimler AG, BAIC, Renault, Toyota Motor Corporation, and General Motors are leading the market.

To get access to the full report, click here: https://www.marketresearchreportstore.com/reports/54789/global-alternative-fuel-vehicles-afv-market

 

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