- The low emission vehicles market is experiencing robust growth driven by a global shift towards sustainable transportation and a strong emphasis on reducing greenhouse gas emissions
- Growing demand from both private consumers and commercial fleets is encouraging manufacturers to innovate with high-performance, efficient, and technologically advanced low emission vehicle solutions, including Battery Electric Vehicles (BEVs), Plug-in Hybrid Electric Vehicles (PHEVs), and Fuel Cell Electric Vehicles (FCEVs)
- North America dominates the low emission vehicles market with the largest revenue share of 39% in 2024, driven by favorable government policies, significant investments in charging infrastructure, and a mature automotive industry
- Europe is expected to be the fastest-growing region in the low emission vehicles market during the forecast period, primarily due to stringent emission regulations, substantial government incentives, and a strong focus on electric mobility initiatives
- The lithium-ion battery segment holds the largest market revenue share of 72.6% in 2024, driven by its high energy density, longer lifespan, and widespread adoption in battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). Advancements in lithium-ion technology, such as faster charging and improved safety, further fuel this segment’s growth
