Global Hybrid Vehicle Market was valued US$ 84.01 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at CAGR of XX% during forecast period.
Global Hybrid Vehicle Market
Increasing environmental issues coupled with the activities directed at reduction of carbon footprints are the factors which boost growth of the hybrid vehicle market. It has obsessed the governments to offer incentives to the manufacturers of vehicles for enhancing the production of hybrid cars. A similar trend is projected to be witnessed over the next couple of years, so, favoring the production of the hybrid vehicle market over 2026.
Biofuels have a potential for being an energy alternative for fueling cars in the near future, which is projected to provide a boost to market growth. Factors like European emission standards support from the governments of various countries, shrinking fuel reserves, and volatile oil prices are estimated to drive the hybrid cars market. Vehicle manufacturers are projected to face the challenge of achieving profitability in hybrid vehicles’ sale. Issues regarding the time duration needed to make up for the cost difference between a hybrid and its compact equivalent is limiting the market growth.
Passenger cars segment was holding a XX% share in the hybrid vehicles market in 2018. This is due to the dominance of passenger cars in the automotive industry. Passenger car production in 2018 was more than XX million units, way ahead than light and heavy commercial vehicles. It is expected that, the hybrid vehicles market for passenger cars will continue to be a major market segment, and is estimated to grow at a CAGR of around XX% during the forecast period.
Gasoline hybrid vehicles are preferred over diesel hybrid vehicles because of improved performance, high fuel proficiency, and low tailpipe emissions. There are no more diesel hybrid vehicles, because of high maintenance and tailpipe emissions, which makes gasoline hybrid vehicles as the favored choice of consumers. Market for gasoline hybrid vehicles is expected to grow at a CAGR of XX% in terms of value during the forecast period.
Asia Pacific is expected to be the leading region in the hybrid vehicles market. Large population in this region coupled with an increasing middle class causes the rise in automotive sales in this region. The drifting and overburdened public transport system in economies like India and China result in frequent increase in the use of private automobiles. To tackle the increasing fuel costs, the customers in this region are choosing the hybrid vehicles. Stringent emission norms laid down by the European Union and the United States Environmental Protection Agency have resulted in higher inclination of hybrid vehicles. All these factors, cumulatively make the hybrid vehicle a constantly growing market at the global level.
The objective of the report is to present a comprehensive analysis of the Global Hybrid Vehicle Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report.
External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Hybrid Vehicle Market dynamics, structure by analyzing the market segments and project the Global Hybrid Vehicle Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Hybrid Vehicle Market make the report investor’s guide.
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Scope of Global Hybrid Vehicle Market:
Global Hybrid Vehicle Market: By Type
• Series hybrid
• Parallel hybrid
Global Hybrid Vehicle Market: By Energy Source
• ICE hybrids
• Fuel cell hybrids
• Solar hybrid
• Natural gas hybrid
Global Hybrid Vehicle Market: By Vehicle Type
• Passenger Vehicle
• Commercial Vehicle
Global Hybrid Vehicle Market: By Component
• Electric Motor
Global Hybrid Vehicle Market: By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player analyzed in the Global Hybrid Vehicle Market:
• Magna International
• FEV Group
• General Motors
• Plug Power
• Ballard Power Systems
• BJORKSTEN BIT 7
• Nikola Corporation
• Wrightspeed Inc.
• EP Tender
• Fagor Ederlan Group
• Delta Motorsport Ltd.
• Nikola Motor
• Ceres Power
• Horizon Fuel Cell Technologies
• Ashwoods Electric Motors
This Report Is Submitted By : Maximize Market Research Company
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