Rising concern of harmful emission from vehicles and growing awareness of global warning has increased the demand for eco-friendly vehicles.
PORTLAND, OR, UNITED STATES, October 25, 2021 /EINPresswire.com/ — Rising concern of harmful emission from vehicles and growing awareness of global warning has increased the demand for eco-friendly vehicles. Governments are making efforts to reduce carbon footprints. Moreover, the growing emission norms and emission standards have increased the use of green fuels like ethanol in vehicles; thereby, increasing the adoption of ethanol bus. As compared to conventional gasoline bus, the ethanol bus emits lesser soot and carbon. Additionally, ethanol is considered as a renewable energy source and reduces the dependency on fossil fuels. In addition, advancements in ethanol, has increased the adoption of ethanol bus in recent years.
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Major Market Players:
Scania, Chrysler, Ford, General Motors, Isuzu, Audi, Toyota Motor Corporation, Volkswagen, Jaguar, Nissan.
COVID-19 scenario analysis:
The situation of automotive industry is worsening with disruption in supply chain.
The demand of automotive sector is dropping with rise in cases of COVID-19.
Additionally, the production in industry of Ethanol bus has been stopped due to lockdown and supply chain has been disrupted.
However, consumer preference will shift towards cost-effective and eco-friendly mobility solution. This will increase the consumer preference towards cleaner fuel technologies due to its cost-effectiveness and eco-friendliness factors. This will surge the Ethanol Bus market growth.
Top impacting factors: market scenario analysis, trends, drivers and impact analysis
Stringent government norms and emission standards to reduce carbon footprints globally is major driving factor of the ethanol bus market. Besides, ethanol is produced from corn or agricultural and wood waste that consume lesser fossil fuel energy in the production process. However, high production cost of ethanol than fossil fuels restrain the market growth. Moreover, ethanol produces complete combustion, thereby proliferating ethanol bus market growth.
Use of second-generation ethanol
At present, the market is witnessing a gradual industrial shift towards the use of second-generation ethanol. The first-generation biofuels refer to the fuels that have been derived from sources like starch, sugar, animal fats and vegetable oil. Second-generation ethanol is made from cellulose, hemicellulose or lignin and has better energy balance than the first-generation ethanol. Besides, the greenhouse gases can be reduced significantly with the use of second-generation ethanol.
Government promoting the use of ethanol bus
The urban air quality index is becoming unbreathable, creating various disorders in people. This has led to increase in adoption of ethanol bus for public mobility. Moreover, government projects around the world are promoting the use of ethanol bus by improving the required infrastructure. For instance, the BEST project was financially supported by European Union for market penetration of ethanol vehicles by developing ethanol public fueling stations. Besides, the Government of India is aggressively promoting the use of ethanol bus in India.
Key benefits of the report:
• This study presents the analytical depiction of the ethanol bus industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the Ethanol Bus market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis based on competitive intensity and how the competition will take shape in coming years.
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Questions answered in the ethanol bus market research report:
• What are the leading market players active in the ethanol bus market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What are the projections for the future that would help in taking further strategic steps?
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Source: EIN Presswire