Portland, OR, Jan. 27, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ethanol vehicle market garnered $564.31 billion in 2021 and is estimated to generate $1,317.63 billion by 2031, manifesting a CAGR of 9.1% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chains, competitive scenarios, and regional landscapes. This research offers valuable guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $564.31 billion |
| Market Size in 2031 | $1,317.63 billion |
| CAGR | 9.1% |
| No. of Pages in Report | 323 |
| Segments Covered | Type, fuel type, blend type, drive type, and region |
| Drivers | Exhausting fossil-fuel reserves Less CO2 emission from vehicles Stringent environmental guidelines and vehicle emission models |
| Opportunities | Integration of sustainable automotive technologies Rising automotive performance on higher ethanol blends |
| Restraints | Scarcity of ethanol-based fuel stations Engine damage concerns |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global ethanol vehicle market, owing to the implementation of the global lockdown, which resulted in a considerable drop in automotive sales.
- Issues, including production halts, government-mandated plant closures, and others, are being experienced by both small and prominent participants in the automobile industry.
- Ethanol vehicle engine manufacturers, on the other hand, have focused their efforts on developing and launching better ethanol vehicles through innovative methods by announcing their plans to increase the blending of ethanol in fuels.
- The ethanol vehicle market has a high scope of growth opportunities in the future due to factors such as the development of advanced environmentally friendly automobiles with the ability to increase vehicle drivability and greater adoption of higher ethanol blends.
The research provides detailed segmentation of the global ethanol vehicle market based on type, fuel type, blend type, drive type, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on type, the cars segment held the highest share in 2021, accounting for more than two-thirds of the global ethanol vehicle market, and is expected to continue its leadership status during the forecast period. However, the other segment is expected to register the highest CAGR of 11.1% from 2022 to 2031.
Based on fuel type, the gasoline segment accounted for the highest share in 2021, contributing to more than 90% of the global ethanol vehicle market, and is expected to manifest the highest CAGR of 9.2% from 2022 to 2031.
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Based on blend type, the E25 to E85 segment accounted for the highest share in 2021, holding more than two-thirds of the global ethanol vehicle market, and is expected to continue its leadership status during the forecast period. However, the E10 to E25 segment is estimated to grow at the highest CAGR of 10.5% during the forecast period.
Based on the drive type, the front-wheel drive (FWD) segment accounted for the highest share in 2021, holding more than two-thirds of the global ethanol vehicle market, and is expected to continue its leadership status during the forecast period. However, the rear-wheel drive (RWD) segment is estimated to grow at the highest CAGR of 10.8% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly half of the global Ethanol Vehicle market share, and is projected to maintain its dominant share in terms of revenue in 2031. However, Asia-Pacific is estimated to manifest the fastest CAGR of 11.7% during the forecast period.
Leading market players of the global ethanol vehicle market analyzed in the research include AB Volvo, BMW AG, Daimler AG, Deere & Company, Ford Motor Company, General Motors Company, Honda Motor Co., Ltd., Mitsubishi Motors Corporation, Nissan Motor Corporation, Scania, Toyota Motor Corporation, and Volkswagen AG.
The report provides a detailed analysis of these key players in the global ethanol vehicle market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
