The Ethanol Car Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ethanol Car Global Market Report 2024, The ethanol car market size has grown strongly in recent years. It will grow from $592.24 billion in 2023 to $650.5 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to policy shifts towards renewable energy, early consumer interest in eco-friendly vehicles, farm lobby and ethanol production, early industry collaboration for ethanol development, focus on energy independence.
The ethanol car market size is expected to see strong growth in the next few years. It will grow to $911.45 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to advancements in ethanol engine efficiency, regulatory support for renewable fuels, government investment in biofuels, global efforts for carbon neutrality, rising oil prices and energy security concerns.. Major trends in the forecast period include evolving environmental regulations, technological advancements in ethanol engines, focus on renewable energy sources, government incentives and subsidies, global emphasis on energy independence.
The increase in the adoption of sustainable automotive technologies is expected to propel the growth of the ethanol car market going forward. Sustainable automotive technologies refer to the use of environmentally friendly and socially responsible practices in the automotive industry to reduce the environmental impact of the industry while promoting economic growth and social well-being. Ethanol is extensively used for sustainable automotive technologies, as it can provide environmental benefits, reduce oil dependence and GHG (greenhouse gas) emissions, and be considered a carbon-neutral fuel. For instance, in December 2022, according to a global audience of 1,336 respondents by Zebra Technologies Corporation, a US-based provider of innovative digital solutions, 87% of Millennials give sustainability priority when choosing a car, followed closely by 76% of Baby Boomers and 78% of Gen Xers. Further, 80% of automotive industry decision-makers recognize that consumers expect more personalized and sustainable vehicle options in 2022. Therefore, the increase in the adoption of sustainable automotive technologies is driving the growth of the ethanol car market
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The ethanol car market covered in this report is segmented –
1) By Product: Starch-Based, Sugar-Based, Cellulosic
2) By Drive Type: Front Wheel Drive, Rear Wheel Drive, All Wheel Drive
3) By Blend Type: E10 to E26, E25 to E86, Above E86
4) By Vehicle Class: Hatchback, Sedan, SUV, Other Vehicle Class
5) By Application: Conventional Fuel Vehicles, Flexible Fuel Vehicles, Other Applications
Major companies operating in the ethanol car market are developing innovative products, such as flex-fuel engines, to increase their profitability in the market. A flex-fuel engine, often referred to as a flexible-fuel engine or FFV (Flexible Fuel Vehicle), is an internal combustion engine created to operate on a range of fuels, typically a blend of gasoline and ethanol, such as E85 (a blend of 85% ethanol and 15% gasoline). For instance, in August 2023, Toyota Motor Corporation, a Japan-based automotive manufacturer, launched the electrified flex-fuel Innova HyCross car in India, the world’s first fully ethanol-powered car equipped with a flex-fuel engine. The flex-fuel electric vehicle Innova HyCross may operate in an electric-only mode and use alternative fuels. It is intended to run solely on ethanol, an E100 plant-generated fuel. Additionally, it will have a lithium-ion battery pack that can supply enough power for the car to run in electric mode.
The ethanol car market report table of contents includes:
1. Executive Summary
2. Ethanol Car Market Characteristics
3. Ethanol Car Market Trends And Strategies
4. Ethanol Car Market – Macro Economic Scenario
5. Global Ethanol Car Market Size and Growth
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26. South America Ethanol Car Market
27. Brazil Ethanol Car Market
28. Middle East Ethanol Car Market
29. Africa Ethanol Car Market
30. Ethanol Car Market Competitive Landscape And Company Profiles
Top Major Players:
- Volkswagen AG
- Toyota Motor Corporation
- Fiat Chrysler Automobiles
- Peugeot Citroën Automobiles S.A
- Stellantis NV
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