Portland, OR, Oct. 10, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global ethanol car market generated $567.9 billion in 2021, and is projected to reach $1,207.6 billion by 2031, growing at a CAGR of 7.8% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Ethanol Car Industry Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $567.9 billion |
| Market Size in 2031 | $1,207.6 billion |
| CAGR | 7.8% |
| No. of Pages in Report | 371 |
| Segments Covered | Fuel type, vehicle type, bend type, drive type, and region |
| Drivers | Increase in the standard of living |
| Increase in demand for carbon-neutral automobiles around the world | |
| Opportunities | Rise in global pollution levels |
| Surge in adoption of sustainable automotive technologies and increased automotive performance on higher ethanol blends | |
| Restrains | Engine damage concerns and scarcity of ethanol-based fuel stations |
COVID-19 Scenario:
- The outbreak of COVID-19 has had a devastating impact on the growth of the global ethanol market, owing to the occurrence of lockdowns in various countries across the globe.
- Lockdowns resulted in the closure of various manufacturing facilities, including those of automobiles and automobile related parts, which adversely impacted the growth of the market.
- In addition, there was a shortage on essential raw materials due to ban on import and export of raw materials.
- Furthermore, shortage of workforce and deceased consumer spending during the pandemic further aggravated the impact on the market.
- These restrictions were imposed by the government so as to limit the spread of the virus during the pandemic.
The report offers detailed segmentation of the global ethanol car market based on fuel type, vehicle type, bend type, drive type, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.
Based on fuel type, the gasoline segment held the largest market share in 2021, holding more than four-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The diesel segment, on the other hand, is expected to cite the fastest CAGR of 8.7% during the forecast period.
Based on vehicle class, the SUV segment held the largest market share in 2021, holding nearly two-fifths of the global market, and is expected to maintain its leadership status during the forecast period. The other segment, on the other hand, is expected to cite the fastest CAGR of 11.1% during the forecast period.
Based on drive type, the all wheel drive type segment held the largest market share in 2021, holding nearly half of the global market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 8.6% during the forecast period. The report include other segments such as front wheel drive and rear wheel drive.
Based on region, the market across LAMEA region held the dominating market share in 2021, holding more than one-third of the global market, and is expected to maintain its leadership status during the forecast period. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 11.9% during the forecast period.
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The key players analyzed in the global ethanol car market report include AB Volvo, ADM, Alcogroup SA, BlueFire Renewables, BMW AG, BP p.l.c., Cristal Union Group, CropEnergies AG, Cummins Inc., Ford Motor Company, General Motors, Honda Motor Co., Ltd., Mitsubishi Motors Corporation, Nissan Motor Corporation, Pannonia Bio Zrt., Petrobras, Scania, Stellantis NV, Toyota Motor Corporation, and Volkswagen AG.
The report analyzes these key players in the global ethanol car market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance and operating segments by prominent players in the market.
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