Alternative Fuel Vehicle Market 2022-2030: increasing investments for setting up a chain of EV charging stations

  The Global  Alternative Fuel Vehicle (Afv) Market  size is expected to reach USD 2,646.41 Billion in 2030 and register a revenue CAGR of 24.5% over the forecast period, according to latest report by Reports and Data. Increasing fuel prices are accelerating adoption of AFVs, as people are shifting towards alternate fuels, which in turn, is driving market revenue growth. Volatile prices of conventional fuels, such as petrol and diesel, are accelerating adoption of AFVs in various applications, including commercial applications. AFVs are powered by clean energies, such as biofuel, biodiesel, electric, hydrogen-powered fuel cells, and other energies generated from renewable sources, such as biomass, biogas, solar energy, and hydroelectricity. Therefore, AFVs remain unaffected by increasing fuel prices, as they do not require conventional fuels, which is increasing use of AFVs by individual users and various organizations. Farmers are widely using biofuels, such as ethanol, as alterna