The global demand for Hybrid Vehicles Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.Regarding volume, the market was calculated XX K Units in 2020 and forecast to touch XX K Units by 2027 with a CAGR of XX% during 2021-2027.
Hybrid vehicles or hybrid electric cars are powered by an internal combustion engine and an electric motor. It uses energy stored in batteries charged through regenerative braking and by the internal combustion engine. They combine the benefits of gasoline engines and electric motors. Hybrid vehicles can be designed to meet different goals, such as better fuel economy or more power. Battery, DC/DC converter, electric generator, electric traction motor, exhaust system, fuel filler, fuel tank, internal combustion engine, power electronics controller, thermal design, traction battery pack, and transmission are essential components of hybrid vehicles.
The global hybrid vehicles market is forecasted to grow at the lucrative period during the forecast period. Rising air pollution, stringent emission norms, expanding efforts to boost fuel efficiency, and continuous reduction in battery price are factors collectively boosting the market for hybrid vehicles. Government initiatives for hybrid cars and advancing infrastructure to promote hybrid vehicles create new market opportunities. The extra power offered by the electric motor can potentially enable a smaller engine. The battery can also power auxiliary loads and minimize engine idling when stopped. Together, these features result in better fuel economy without sacrificing performance. These features of the vehicle are attracting people to buy them. However, hybrid cars are often more expensive than similar conventional vehicles may hamper the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of hybrid vehicles. The growth and trends of hybrid vehicles industry provide a holistic approach to this study.
This section of the hybrid vehicles market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Electric Powertrain Type
By Component Type
- Parallel Hybrid
- Series Hybrid
By Degree Of Hybridization
- Electric Motor
By Vehicle Type
- Full Hybrid
- Mild Hybrid
- Passenger Car
- Commercial Vehicle
This section covers the regional outlook, which accentuates current and future demand for the Hybrid Vehicles market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Hybrid Vehicles Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the hybrid vehicles market include Toyota Motor Corporation, Nissan Motor Co. Ltd, Honda Motor Company Ltd, Kia Motors Corporation, BYD Co.Ltd, Allison transmission, Delphi Technologies, The Ford Motor Company, AB Volvo, and Daimler AG. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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