Mass Transportation Segment Led the Green Mobility Market in 2022
The Global Green Mobility Market was estimated at USD 3 billion in 2022 and is anticipated to reach around USD 33 billion by 2030, growing at a CAGR of roughly 11% between 2023 and 2030.
CMI research report offers a 360-degree view of the Green Mobility market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Green Mobility market.
Green Mobility Market: Overview
The objective of green mobility is to “lower the environmental impact of mobility in terms of greenhouse gas (GHG) emissions, air pollution, and noise,” according to the transportation sector. The three main components of the Green Mobility objective are mitigation of climate change, air pollution, and noise pollution.
Browse the full “Green Mobility Market Size, Trends and Insights By Type (Electric Mobility, Battery Electric Vehicle, Hybrid Electric Vehicle, Fuel Cell Electric Vehicle, Plug-in Hybrid Electric Vehicle, Gas Mobility, Others), By Vehicle Type (Commercial Vehicles, Medium & Heavy Commercial Vehicles, Light Commercial Vehicles, Passengers Vehicles, Two & Three Wheelers, E-Scooters, E-Bikes, Others), By Application (Urban Logistics, Mass Transit Infrastructure, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032″ report at https://www.custommarketinsights.com/report/green-mobility-market/
A world that is changing rapidly calls for less reliance on traditional energy sources, less pollution, and greater usage of organic products. This planet is undergoing significant changes due to problems like global warming and coral reef degradation. The environment needs to be saved now more than ever.
Hence many nations are working to achieve zero emissions. While India and other developing nations have vowed to achieve this goal by 2070, developed countries like the United States and England have set a goal of reaching zero emissions by 2050. The global green mobility market is expanding directly due to the policies that support it.
Green mobility essentially aims to reduce the amount of pollution (both air and noise) brought on by transportation while simultaneously addressing the problem of climate change in the transportation industry through mitigation and adaptation. In contrast to other markets and industries, the COVID-19 epidemic significantly positively impacted the worldwide green transportation market. Traveling limitations made sure that pollutant levels drastically decreased. Even though this shutdown cost humans in the form of numerous fatalities, planet Earth gained from it.
The market for Green Mobility is segmented into the type, vehicle type, and application. The global market for green mobility has been segmented based on type into electric mobility, gas mobility, and others. Hybrid electric vehicles, battery electric vehicles, plug-in hybrid electric vehicles, and fuel-cell electric vehicles have all been added to the area of electric mobility. The electric mobility segment produces the majority of the market’s revenue. Since hybrid electric vehicles feature an engine that uses both fossil fuel and electricity, there is a significant demand for these vehicles.
The global green mobility market has been classified into Urban Logistics, Mass Transit Infrastructure, and Others, based on application. Several developing nations, like India, have recently adopted electric vehicles for transportation needs. Electric buses have been successfully introduced and are operating at peak efficiency.
Because of this, the mass transportation infrastructure segment has ranked first in terms of market profitability. E-vehicles are also being used extensively in the urban logistics sector. Due to their desire to reduce expenses across the board, courier service providers are choosing e-scooters, which will ultimately increase their profitability.
North America has dominated in terms of generating a sizable portion of revenue for the green mobility industry. The United States government is doing everything possible to attain its aim of having zero emissions by 2050, which has been stated as one of several objectives. The increased number of e-vehicle manufacturers greatly influences the expansion of this industry in the region.
Also, in 2021, the European Commission adopted four proposals that will modernize the EU’s transportation infrastructure to facilitate the shift to cleaner, greener, and smarter mobility, in line with the goals of the European Green Deal. The proposals will put the transportation industry on track to cut emissions by 90% by improving connectivity, moving more people and goods to rail and inland waterways, supporting the deployment of charging stations, alternative refueling infrastructure, and new digital technologies, putting a stronger emphasis on sustainable urban mobility, and making it simpler to select various modes of transportation within an effective multimodal transport system.
|Feature of the Report||Details|
|Market Size in 2023||USD 6 Billion|
|Projected Market Size in 2032||USD 33 Billion|
|Market Size in 2022||USD 3 Billion|
|CAGR Growth Rate||11% CAGR|
|Key Segment||By Type, Vehicle Type, Application, and Region|
|Report Coverage||Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America|
|Buying Options||Request tailored purchasing options to fulfil your requirements for research.|
Competitive Landscape/ Key Players Insights
Our market analysis includes a section specifically devoted to key players operating in the Green Mobility Market. Our analysts give an overview of each player’s financial statements, along with product benchmarking and SWOT analysis. The competitive landscape section includes key development strategies, market share analysis, and market positioning analysis of the mentioned competitors globally.
- 2023: EKA Mobility, a Pinnacle Industries subsidiary, has announced partnering with Mumbai-based Shuzlan Energy, a growing provider of charging infrastructure, to offer its customers a secure, practical, and accessible EV charging infrastructure as well as cutting-edge charging stations for public transportation across India.
- 2022: Hero Electric and the e-mobility consultancy and fleet management company NP Technology and Financial Advisor have teamed to expand the use of electric vehicles among platform-based fleet operators. According to Hero Electric, the agreement would increase the number of gig workers in the economy under the Driver Owner Model, in which the car’s user is the vehicle’s owner.
Some of the prominent players
- Daimler AG
- Ford Motors Company
- Kia Motors Corp.
- General Motors
- Hyundai Motor Company
- TATA Motors Limited
- Volvo Car Corp.
The global Green Mobility market is segmented as follows:
- Electric Mobility
- Battery Electric Vehicle
- Hybrid Electric Vehicle
- Fuel Cell Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Gas Mobility
By Vehicle Type
- Commercial Vehicles
- Medium & Heavy Commercial Vehicles
- Light Commercial Vehicles
- Passengers Vehicles
- Two & Three Wheelers
- Urban Logistics
- Mass Transit Infrastructure
- The U.S.
- The UK
- Rest of Europe
- South Korea
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Rest of Latin America