Fuel efficiency has become the principal focus of auto manufacturers around the world owing to the urgent need to cut carbon footprints, fluctuating gas prices, and the need to cut reliance on oil-rich countries. With oil reserves rapidly depleting as some of the largest oil companies drain their petroleum reserves much faster than they are replacing them, the need to cut the consumption of fuel is rather high. This is only likely to push the cost of gasoline much higher. The demand for petrol-powered vehicles has been unwavering, but the interest in the development and adoption of alternative fuels is just as promising. Alternative fuels such as hydrogen and biodiesel are a more abundant source of fuel and are also much cleaner and cheaper. Rising environmental concerns have driven consumers as well as automakers to go green, a trend that is likely to only gain momentum in the coming years.
Persistence Market Research tracks the buzz around ongoing and anticipated trends such as these to help clients envision their business of the future and attain those goals in the best possible manner.