Commenting on the report, an analyst from TechNavio's Automotive team said: ''The steady economic growth in the APAC region is expected to be one of the major trends leading to the growth of the Global Low Emission Vehicle market. The economic growth has improved the financial status of large sections of the population, which in turn is leading to an increase in the per capita income of the population and increased demand for automobiles in this region. Moreover, Japan and China, which are in the APAC region, are major markets for low emission vehicles in the Global Low Emission Vehicle market. Moreover, the Passenger Vehicle market in India is expected to become the fourth-largest market in the world by 2016, and by 2020, it will be the third-largest market in the world. Therefore, the demand for low emission vehicles in the APAC region has increased, leading to the growth of the Global Low Emission Vehicle market.''
According to the report, one of the main drivers is the increase in promotional activities for low emission vehicles by governments across the globe. This factor directly influences the increased demand for low emission vehicles worldwide.
Further, the report reveals that the lack of infrastructure and standards for electric vehicle charging stations is a major growth inhibitor in the Global Low Emission Vehicle market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit http://www.technavio.com/
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Automotive market research, please visit http://www.technavio.com/
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