Hybrid Electric Cars Market: Introduction

In 2015, Hybrid Electric Cars Market production was estimated 1.9 million units and will grow to around 5.4 million units, it is expected that by 2025.  China is ranked as the largest market for all-electric vehicles. The growing demand for hybrid electric cars in markets such as China, the United States and Norway is often triggered by government incentives including subsidies, exemptions from tolls and parking fees.            

Hybrid electric cars utilize two or more power sources to perform its operations. Hybrid electric car is basically powered by an electric motor along with an internal combustion engine. The hybrid electric cars market is gaining momentum due to several advantages associated with the use of hybrid cars.

Hybrid Electric Cars Market Size Analysis, By Region (2017-2025)

Hybrid Electric Cars Market: Dynamics

Hybrid electric cars market Size is anticipated to grow significantly during the forecast period, due to increasing demand for reduction of carbon emission through vehicles and adopting environment friendly commute options. Escalating awareness about hybrid electric cars among consumers that significantly help in reduction of carbon emission is fueling the growth of hybrid electric cars market. Furthermore, rising governmental support to hybrid electrics cars and lower price of some hybrid electric cars as compared to traditional luxury cars is likely to aid in the growth of hybrid electric cars market over the forecast period. However, high production cost of hybrid electric cars can hinder the growth of hybrid electric cars market during the upcoming years.

Hybrid Electric Cars Market Share: Segment Analysis 

Among batter type, NiMH (nickel-metal hydride) is expected to be holding the major market share over the forecast period, due to high durability, safety ensurity and low cost of NiMH batteries. For many, NiMH batteries are a budget friendly and more reliable option than Li-ion, hence it is expected to perform nicely in the global hybrid electric cars market during the forecast period.

However, it is anticipated that Li-ion (lithium-ion) can grow significantly at a CAGR of about 28.0% over the forecast period, due to its low cost of maintenance and light weight nature. Anticipated decrease in the price of Li-ion can also boost their growth in the forthcoming years.

On the basis of hybridization, hybrid electric cars market has been segmented into mild and full. The full HEVs (hybrid electric vehicles) accounted for larger market share in the year 2017, and it is expected to continue dominating the hybrid electric cars market due to its outstanding features such as lower energy consumption, light weightiness, and others. Early inception of full HEVs are also one of the major reasons for their dominance in the market.

Hybrid Electric Cars Market Share: Regional Analysis

Asia Pacific region is anticipated to be leading the market of hybrid electric cars market size due to increasing governmental support in countries such as Japan and India to environment-friendly vehicles that emits less carbon. Increased consciousness and awareness among citizens regarding the use of environmental friendly hybrid vehicles is another reason which is escalating the growth of hybrid electric cars market size in the region.

North America followed by Europe is expected to perform well in the global hybrid vehicle market share during the forthcoming years, due to rising pollution concern in American and European cities, coupled with growing market of hybrid vehicles in the regions. In 2017, more than 364,000 hybrid vehicles were sold to customers in the United States, up from around 347,000 hybrid vehicles in 2016.

Hybrid Electric Cars Market: Key Players

Major players operating in global hybrid electric cars market include Toyota Motor Corp., Mitsubishi Motor Corporation, Hyundai Motor Company, Ford Motor Company, Renault SAS, Bayerische Motoren Werke AG (BMW), General Motors Company, Volkswagen AG, Nissan Motor Corporation, Honda Motor Company, and Daimler AG.

Global Hybrid Electric Cars Market Report Offer You!

Global Hybrid Electric Cars Market Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

Global Hybrid Electric Cars Market Size report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.

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