Economic Factors
Market Trends and Economic Factors
Market trends differ greatly across the globe.
Do you know the top 3 countries leading the charge in ZEV adoption?
In 2023, Canada saw ZEV sales at 10.8% of total market share
By the end of the decade, zero-emission commercial vehicles are projected to capture
28% share
of the combined markets
The transition to MHDZEVs is largely influenced by tightening regulations on ICE vehicles and the decreasing total cost of ownership for electric and fuel-cell vehicles
California
is a leader in this department as it set ambitious regulatory targets for ZEV adoption
Aiming for 100% of new
Car Sales by 2035
Aiming for 100% of new
MHD sales by 2045
The economic benefit doesn't have to be limited to vehicle owners.
The economic benefit doesn't have to be limited to vehicle owners.
Businesses that adapt to the changing transportation landscape can also benefit.
For example:
A goat farm in Ontario used a federal tourism grant to install two EV charging stations for visitors.
Although it may not be a significant source of income, it improves rural charging infrastructure, allows for more people to visit the farm and cafe, and is now a more environmentally friendly business.
Which of the following is a potential economic benefit of adopting medium- and heavy-duty zero-emission vehicles (MHDZEVs) in the transportation sector?