Hybrid Car Market (Type - Series Hybrid, Parallel Hybrid, and Combined Hybrid; Energy Source- Ice Hybrid, Fuel Cell Hybrid, Solar Hybrid, and Natural Gas Hybrid; Vehicle Type - Passenger Cars and Commercial Cars) : Global Industry Analysis, Trends, Market Size and Forecasts up to 2024

Hybrid Car Market (Type - Series Hybrid, Parallel Hybrid, and Combined Hybrid; Energy Source- Ice Hybrid, Fuel Cell Hybrid, Solar Hybrid, and Natural Gas Hybrid; Vehicle Type - Passenger Cars and Commercial Cars) : Global Industry Analysis, Trends, Market Size and Forecasts up to 2024

Report Code: AT0059 Category: Automotive, Aerospace & Defence Published: June, 2018

A recent report published by Infinium Global Research on hybrid car market provides an in-depth analysis of segments and sub-segments in global as well as regional hybrid car market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional hybrid car market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global hybrid car market. According to the report the global hybrid car market is projected to grow at a CAGR of 16.6% over the forecast period of 2018-2024.


Hybrid Car Market

 

Market Insights

The hybrid car is a vehicle that utilizes more than one form of onboard energy to achieve propulsion. A hybrid car has a traditional internal-combustion engine with a fuel tank at the same time it has one or more electric motors and a battery pack. The types of hybrids include series hybrids, parallel hybrid, and series-parallel hybrid. Series hybrid is the oldest hybrid type while the parallel hybrid type is the simplest and least costly type in current automotive use. Furthermore, in a series-parallel hybrid vehicle type, computer monitors driving conditions and the state of the battery decides which mode is most efficient at any given moment. The seamless blending of these modes is then carried out by a unique continuously variable transmission (CVT). Hybrid cars are sometimes mistakenly confused with electric vehicles.

 

The hybrid cars market was worth XX million in 2017 and is anticipated to reach XX million by 2024, in terms of revenue. Rising concerns over increasing air pollutions have resulted to shift towards eco-friendly vehicles, also stringent emission standards in various countries and government encouragement in the adoption of hybrid cars by providing subsidies and incentives are some of the factors that are driving the growth of the hybrid car market. However, the high cost of hybrid cars, ease and diverse availability of ICE cars may hamper the growth of the hybrid car market. Technological advancements in hybrid cars and a reduction in the pricing of a hybrid car can create huge opportunities in the near future.

 

Geographically, Asia Pacific accounted for the largest market share in 2017, in terms of revenue. The increasing awareness among consumers regarding the benefits of eco-friendly vehicles, particularly in China and Japan, coupled with the government’s incentives and subsidies are facilitating the dominance of the Asia Pacific hybrid cars market. North America and Europe regions are expected to grow at a moderate rate during the forecast period.

 

Key Developments: South Korean automaker Kia plans to produce electric vehicles, hybrid vehicles in India. The company is expected to launch its hybrid cars by 2021.

 

Segment Covered

The report on the global hybrid car market covers segments such as type, energy source, and vehicle type. On the basis of type, the global hybrid car market is categorized into a series hybrid, parallel hybrid, and combined hybrid. On the basis of energy source, the global hybrid car market is categorized into ICE hybrid, fuel cell hybrid, solar hybrid, and natural gas hybrid. On the basis of vehicle type the global hybrid car market is categorized into passenger cars and commercial cars.

 

Geographic Coverage

The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and others. Moreover, Germany, U.K., France, Spain and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-pacific region offers a substantial potential for market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.

 

Companies Profiled:

The report provides profiles of the companies in the global hybrid car market such as Toyota Motor Corp, General Motors Co, Hyundai Motor Co, Ford Motor Co, Nissan Motor Co. Ltd., BMW, Volkswagen AG, Honda Motor Co. Ltd., and FCA N.V.

 

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global hybrid car market. Moreover, the IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the hybrid car market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the hybrid car market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the hybrid car market to understand the present and future trends in this market and formulate their strategies accordingly.


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