Even as global oil prices have hit record lows and the US drivers have returned with even more love to their pickups, SUVs and muscle cars, it seems that the glory days of V6, V8 to V12 gas-guzzling monsters are over.
According to a new report coming from Navigant Research, the global mix of vehicles in 2017 would show that conventional gasoline engines would power less than half of the mix. The majority would not belong to an emerging power source, but the mix would be made by alternative fuels, electrified vehicles and more advanced internal combustion systems. The study also claims the pace of the transition is set to accelerate in the years to come, with major changes enforced especially by the upcoming tough fuel economy and emissions regulations set up around the world – especially in the United States, Europe and China.
David Alexander, senior research analyst with Navigant Research forecasts that no technology would gain market dominance, with automakers and their suppliers instead focusing on getting better fuel efficiency from incremental improvements in engines and transmissions, coupled to extensive weight reduction. Alternative fuels – diesel in Europe or ethanol in Brazil would play out. When it comes to electrics, the battery-operated vehicles are joined by the hydrogen power.