New York, NY 27 Aug 2019 : The global electric
transporters market is anticipated to reach USD 69.5 billion by
2026 according to a new study published by Polaris Market Research. Electric
transporters that include all types of e-vehicles are the primary trend within
the automobile industry. These products boost the energy efficiency, require no
direct fuel combustion and rely completely on the most diversified energy
source carrier (electricity) which contributes to a wide range of transport
policy goals. Increasing use of electric transporters will lead to energy
security, rising quality of air, lesser noise pollution, lesser emission of
greenhouse gases in concert with low-carbon power generation mix.
Moreover, as e-vehicles are the trending innovating clusters in
the automotive sector, these products have substantial potential to enhance
industrial and economic competitiveness, hence attracting investments wherever
major markets can be developed in the near future. Significant industry uptake
of this segment of automobiles has occurred in the recent years. On- going commitments
and support for further development of electric transporters from the
automotive industry and policy makers suggest that the trend of EV will not
abate in the next decade.
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The increasing sales volumes of electric transporters along with
the growing competition in the development of noble technologies are most
likely to contribute continuous reduction in manufacturing cost of batteries,
which is the most primary cost component of e-transporters. These costs cutting
EV technologies have further strengthen their competitiveness compared with the
internal combustion engines. This reinforces the case for road e-vehicles that
are continuously occupying an expanding market share and perhaps a leading role
in the evolution of transportation across all modes.
The global industry is recently influenced by some of the major
developments in the European Union, China, the U.S. and the India. In 2017, the
EU, China and India that together accounted for roughly 60% of the worldwide
LDV market proposed and later implemented significant changes in policies that
are likely to accelerate the phase of e-transporters and share their deployment
in a global scale. On the flip side of it, recently announced policies on the
rollback of federal regulations on the fuel economy of cars in the U.S. are
anticipated to have negative influence on the uptake of electric cars.
Asia Pacific was the leading regional market in 2017, with China
accounting for the major share. In 2017 September, the Chinese government
issued a newly framed energy vehicle credit mandate that took effect in 2018.
This mandate sets a new and minimum benchmark for the production of electric
transporters with some flexibility offered through credit trading mechanism.
The country has emerged as the major hub for production of these products not
only because of its supporting policy framework but also for its low cost
production rates. Reflecting the cost difference in battery cost electric
vehicles in the country are much less expensive. Application of lead acid
batteries leads to an estimated cost of USD 167 of an electric bike in the
country. On the contrary, these products cost at an average of USD 815 in the
U.S. and an average cost of USD 1,546 in the Western Europe countries, which
reflects to the different choices in the battery chemistry.
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Some of the industry participants include F-wheel
DYU, Fuji-Ta, Baidu, Airwheel, Goldenwheel, Robstep, Hybike, Bafang (8FUN)
Motor, Geoby, Guewer, Benelli, BMW Bicycles, BH, ECO Movement, Electric Bike
Plus, Fully Charged, Mahindra GenZe and Kalkhoff.
About Polaris Market Research
Polaris Market Research
is a global market research and consulting company. The company specializes in
providing exceptional market intelligence and in-depth business research
services for our clientele spread across different enterprises. We at Polaris are
obliged to serve our diverse customer base present across the industries of
healthcare, technology, semi-conductors and chemicals among various other
industries present around the world
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