Transparency Market Research Report Added "Alternative Fuels Market " to its database
Albany, NY -- (SBWIRE) -- 10/16/2014 -- Over the next few decades, alternative fuels will become an integral part of consumers’ energy needs. Consumers will likely be more reliant on alternative fuels instead of conventional fuels such as coal and gas. This change is already altering the dynamics of the alternative fuels market, and signs of elevated demand are already visible.
Alternative fuels are considered to be more sustainable alternatives to their traditionally used counterparts that are being consumed at a rapid rate. Since these fuels cannot be replenished, it has become critical for industries to start incorporating alternatives into their regular energy portfolio.
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The alternative fuels market also presents an answer to concerns about the increasing crude oil prices and unstable demand patterns of this fuel. They are being seen as an answer to machinery that requires fuel to operate, transport that needs to be more efficient to keep economies on track, and help countries reduce their dependence on already-depleting fuel reserves.
The alternative fuels market has seen many changes over the past decade as R&D centers, educational institutions, governments and corporate entities are all working towards making such fuels more accessible and affordable. Thus, it is now common to see alternative fuels such as biodiesel, ethanol, natural gas, methanol, and propane being applied in numerous industrial and commercial applications. As of now, these are the most common alternative fuels in use across the world. With research being underway on many other types of alternatives, it will not be long before the world is powered on fuels other than coal and natural gas.
The alternative fuels market stands to benefit substantially from the advent of new fuel technology, as well as machinery that makes it possible to convert these fuels into energy. This factor will be among the largest propellers for the growth of the alternative fuels market. Moreover, efforts are afoot to provide incentives and subsidies for the use of these fuels because they are low on carbon emissions and other harmful substances that pollute the environment.
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Investment opportunities that can be monetized in the alternative fuels market
The market for alternative fuels has brought about a revolution of sorts in the larger transportation industry. Alternative fuels are becoming less of an ‘alternative’ and more of a mainstay, with public transport systems now running on fuels such as natural gas, electricity, and biodiesel. With boundless scope for growth, many more new innovations are likely to be seen over the next two to three decades. Thus, there is no dearth of new avenues for growth in the alternative fuels market.
New and emerging market players that can capitalize on these opportunities, and create a niche in the alternative fuels market will find it easier to survive and make profits.
However, compliance with the increasingly stringent environmental laws is becoming mandatory, and companies often have to align their strategies in accordance with the same. In doing this, however, certain business arms may be adversely impacted and driven into being obsolete altogether. Thus, a greater focus on alternative fuels will safeguard many players in the energy and fuels industry. By doing this, they can also garner support and goodwill from government agencies that are committed to the cause of alternative fuel technologies. This, in the long term, will help these companies emerge as leading entities in their respective markets. The alternative fuel industry will be driven by a growing usage of automobiles for pleasure, recreation, and comfort. The auto sector will be the most dominant application area for the alternative fuels market.
Companies that currently lead the alternative fuels market are: General Motors – GMC, Crane Carrier Company, DaimlerChrysler, Honda, Ford Motor Co, Nissan, Toyota, Suzuki, Volkswagen, Champion Bus Inc, Blue Bird Corp, Optima Bus Corp, Freightliner Custom Chassis, Elgin Sweeper Company, and others.