About Ethanol-Based Vehicle
Vehicles that use a fuel mix of gasoline blended with ethanol or methanol fuels are called flexible-fuel vehicles (FFVs). Vehicles that are ethanol-based are the most commercially viable among alternative vehicle propulsion technologies. First introduced in the late 1970s, FFVs have evolved into a practical automotive alternative, in terms of vehicle performance, reliability, and stability.
Technavio’s analysts forecast the global ethanol-based vehicle market to grow at a CAGR of 6.53% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global ethanol-based vehicle market for 2016-2020. The market has been calculated on the basis of OEM production.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Ethanol-Based Vehicle Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Ethanol-Based Vehicle Market: Ford, General Motors (GM), Toyota and Volkswagen.
Other Prominent Vendors in the market are: Audi, Chrysler, Isuzu, Jaguar, John Deere, Mercedes and Nissan
Commenting on the report, an analyst from Technavio’s team said: “Ethanol manufacturers, such as Novozymes and Diversa, are contributing to the development and promotion of commercialization of second-generation ethanol for use as an automotive fuel. It is expected that the second-generation fuel to take over the market for first-generation ethanol, even though the former is more expensive than first-generation ethanol. As a result, the commercial use of the fuel as automotive fuel has been limited. Biodiesel has been trending in the market in terms of volume production, but cellulosic ethanol use is likely to register faster growth rates during the forecast period.”
According to the report, automotive OEMs are under pressure to promote alternative fuel-compatible vehicles. This, along with growing sustainability measures, may drive the market for vehicles powered by alternative fuels. Among alternative fuels, ethanol biofuel is the most commercially viable option, and FFVs are likely to lead growth in the ethanol-based vehicle market.
Further, the report states that Fossil fuel consumption subsidies stood at $548 billion in 2013, as per the latest data available from the International Energy Agency. These subsidies are four times higher than the subsidies offered to the renewable energy industry. These pose a challenge to the consumption of ethanol, restraining the growth of the ethanol-based vehicle market.
Ford, General Motors (GM), Toyota, Volkswage, Audi, Chrysler, Isuzu, Jaguar, John Deere, Mercedes, Nissan
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