According to the report analysis, ‘Global
Hybrid Vehicle Market Size study, by Electric Power train Type
(Parallel Hybrid and Series Hybrid) by Propulsion (HEV, PHEV and NGV) by Degree
of Hybridization (Micro Hybrid, Mild Hybrid and Full Hybrid Vehicle) Component
Type (Electric Motor, Transmission and Battery) by Vehicle Type (Passenger Car
and Commercial Vehicle) and Regional Forecasts 2018-2025’ the worldwide hybrid
vehicles market is controlled for the substantial growth over the review
duration due to the desire for the addressing customers’ requirements
pertaining to propel to fuel spending deduction and mandatory amenability with
CO2 emanations norms.
In addition, the worldwide hybrid
vehicle market worth approximately USD 333 billion in 2017 and is predicted to
augment with a healthy growth rate of more than 12.5% over the review period of
2018-2025. The effective augment in the demand of fuel-efficient vehicles,
government regulations and increasing requirement of low carbon emission
vehicle involving e-vehicle are encouraging the growth of the market. The
Government across the world have ongoing implementing rigorous regulation to
control carbon emission. For instance, the European Union (EU) directives and
associated legislation restrict the amount of structured pollutants that can be
produced by fresh motor vehicles and engines promoted in the EU. Thus, the
effective increase in the government norms and rules is anticipated to boom up
the market growth.
Furthermore, the plying of hybrid
vehicles and electric drive trains are anticipated to become a communal sight
with the effective increase in the awareness levels among consumers. Internal
combustion engines are anticipated to account the automotive market, but
electric and hybrid vehicles are anticipated to create the significant
in-roads.
Although, the Biofuels have an
impending for being an energy unconventional for powering cars in the coming
future, which is predicted to deliver a fillip to market growth. The aspects
such as European emission standards support from the governments of numerous
regions, shrinking fuel reserves, and volatile oil prices are predicted to
propel the hybrid cars market. Vehicle manufacturers are anticipated to face
the challenge of obtaining the effectiveness in hybrid vehicles’ sale.
Apprehensions concerning the time duration demanded to make up for the cost
difference between a hybrid and its dense equivalent is anticipated to
restricted the market growth.
However, the report also states
that in the worldwide hybrid vehicle market there are numerous players which
presently working more actively for leading the fastest market growth and
registering the wide value of market share throughout the short span of time
while augmenting the specifications and applications of the such, spreading the
awareness related to such, accepting the profitable strategies and policies and
examine the competitive strategies of the competitors includes Toyota, Ford,
Volvo, Continental, ZF, Daimler, Hyundai, Honda, Schaefler, Borgwarner, Delphi
Technologies, Allison Transmission and several others.
Not only has this, based on the
region, the market of hybrid vehicles is spread around the globe which majorly
involves Asia Pacific, North America, Europe, Latin America and Rest of the
World. The Asia Pacific is the registering region across the globe in terms of
market share region over the review period of 2018-2025 due to the emerging
market players in this economy. Therefore, in the coming years, it is
anticipated that the market of hybrid vehicle will increase around the globe
over the near future more progressively.
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Ken Research
Ankur Gupta, Head Marketing &
Communications
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