Automotive Alternative Propulsion Market Dynamics and Opportunities 2028

I am jhontanison. I hold full responsibility for this content, which includes text, images, links, and files. The website administrator and team cannot be held accountable for this content. If there is anything you need to discuss, you can reach out to me via email.

Disclaimer: The domain owner, admin and website staff of Times Square Reporter, had no role in the preparation of this post. Times Square Reporter, does not accept liability for any loss or damages caused by the use of any links, images, texts, files, or products, nor do we endorse any content posted in this website.

Automotive Alternative Propulsion Market Dynamics and Opportunities 2028
global automotive alternative propulsion market is forecast to reach USD 644.42 Billion by 2028


The global automotive alternative propulsion market is forecast to reach USD 644.42 Billion by 2028, according to a new report by Reports and Data. Automotive alternative propulsion consists of the available possible alternative sources that can be incorporated as the source of energy in the propulsion systems of the vehicles. The objective of employing the alternative resources of gasoline is to reduce or diminish the hazardous gases that emit from the traditional gasoline-powered vehicles. The global automotive alternative propulsion market is growing at a substantial pace due to the growing demand for alternative sources of energy for the vehicle propulsion system. Being a finite source of energy, the availability of gasoline is decreasing and the price of the petroleum are deliberately being propelled year on year in the global market. In this regard, the alternative energy propulsion system and the alternative sources of energy are high demand in the developing nations as well as in the emerging regions also.

Asia Pacific market is forecasted to generate a revenue of USD 164.08 Billion in the year 2026, owing to its extensive demand for hybrid electric vehicle (HEV) and electric vehicle (EV) and elevated growth in the overall automotive industries in China, Japan, and India. The United States possesses the highest market worldwide while Germany and Japan hold some of the most prominent players in the market.

 To download a PDF sample copy of the report, visit @

The statements you provided highlight some key trends and challenges in the global automotive industry related to alternative propulsion systems and energy sources. Here's a breakdown of the points you mentioned:

  1. Growing demand for alternative sources of energy: As the availability of gasoline decreases and petroleum prices rise, there is an increasing need for alternative energy sources to power vehicles. This demand is driven by both developing nations and emerging regions.
  2. Hybrid electric vehicles (HEVs): HEVs, which combine an electric powertrain with a conventional engine, are being widely adopted worldwide. They offer better fuel economy compared to conventional vehicles by utilizing electric power during certain driving conditions.
  3. Fully electric vehicles (EVs): EVs have gained significant attention due to their low operational costs compared to gasoline-powered vehicles. Many developed nations have initiated efforts to commercialize and promote the adoption of EVs on a large scale.
  4. Lack of charging infrastructure: One major challenge faced by the electric propulsion vehicle market is the insufficient availability of charging stations. The limited charging infrastructure restricts the widespread adoption of EVs, as users need convenient and accessible charging options.

Overall, these trends indicate a shift towards alternative propulsion systems and energy sources in the automotive industry. While hybrid electric vehicles provide a transitionary solution, fully electric vehicles are gaining momentum. However, the lack of charging infrastructure remains a significant obstacle that needs to be addressed for the broader adoption of electric propulsion vehicles.

Top Companies Operating in the Global Automotive Alternative Propulsion Market:

General Motors Company, Robert Bosch GmbH, Toyota Motor Corporation, Mitsubishi Motors Corporation, Continental AG, Tesla, Inc., Volkswagen Group, Tata Motors Limited, Hyundai Motor Company, and Aisin Seiki Co., Ltd.

Inquiry before buying @

The global market is further segmented into type and application:

Propulsion Type Outlook (Revenue, USD Billion; 2018-2028)

  • FCEV
  • HEV
  • EV

Vehicle Type Outlook (Revenue, USD Billion; 2018-2028)

  • Passenger
  • Commercial

Point of Sale Outlook (Revenue, USD Billion; 2018-2028)

  • OEM
  • After Sales

Component Outlook (Revenue, USD Billion; 2018-2028)

  • Power Generation System
  • Energy Storage System
  • Others

 Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest

·       Fuel cell electric vehicles (FCEV) are powered by hydrogen fuel cells and are a more efficient form of automotive propulsion system compared to the conventional internal combustion engine vehicles. These kind of vehicles produce zero tailpipe emissions and only emit water vapor with warm air. The revenue of this sub-segment is expected to reach USD 11.37 Billion by 2027.

·       A hybrid electric vehicle (HEV) incorporates a hybrid propulsion system with a combination of traditional gasoline-powered internal combustion engine system and electric propulsion motorized system. Few of the HEVs make use of the gasoline in order to produce the potential energy for the electric motor, which then converts into the kinetic energy. The HEV sub-segment is growing with a CAGR of 21.2% during the forecast period. Toyota Prius is the most sold model of hybrid electric vehicle as of now.

·       The power generation system is the principal component of an automotive alternative propulsion system, which helps generate the power using alternative source of energy. Air Compression, Thermal Loop, Hydrogen Recirculation Blower, Motor are the power generation components for the FCEVs, while Power Electronics & Motor are for the HEVs.

·       North America, with its superiority in both the hybrid electric & electric vehicles market share and extensive demand for the alternatives of the gasoline-based vehicle, is accounted to retain its leading position in the market with a market share of about 35.3% by 2027, and the CAGR is calculated to be 24.4% during the forecast period.

 Request a customized copy of the report @

Thank you for reading our report. We also offer customized report as per client requirement. Kindly connect with us to know more about customization plan and our team will offer you the altered report.

Explore More Industry Research by Reports and Data:

Online Investment Platform Market -

Annuity Platform Market -

Vision Guided Robotics Software Market -

Application Security Market -

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

John W

Head of Business Development

Reports and Data | Web:

Direct Line: +1-212-710-1370


Browse More Automotive and Transportation Industry Related Reports @




What's your reaction?


0 comment

Write the first comment for this!

Facebook Conversations