Market Share of Automotive Alternative Fuel Vehicle Industry
The automotive alternative fuel market is highly fragmented. The market is characterized by the presence of considerably large global players as well as regional, and national players. Many startups are also entering particularly in the electric and hydrogen vehicle industry. These players also engage in joint ventures, mergers and acquisitions, new product launches, and product development to expand their brand portfolios and cement their market positions.
Some of the major players dominating the global market are Tesla Inc., Toyota Motor Corp., BYD, General Motors, and VW Group. Key players are launching new products to secure their market position and stay ahead of the market curve. For instance,
- In September 2022, BYD introduced its new eBus range, eBus Blade battery platform, and two new battery electric trucks for the European market at IAA Transportation in Germany.
- In February 2021, Ford Motors Company announced that its European division would soon phase out of internal combustion engines (ICE) vehicle production, and by 2026 Ford will only offer plug-in hybrid and electric models. Furthermore, automakers such as Volkswagen, Lincoln, Jaguar Land Rover, and others have also committed to turn their vehicle volume emission-free in years to come.
Automotive Alternative Fuel Vehicle Market Leaders
Tesla Inc.
Toyota Motor Corp.
BYD
General Motors
Volkswagen AG
*Disclaimer: Major Players sorted in no particular order
