Increasing concern for environment and rise in electrification of vehicles coupled with sustained focus of the government on EV adoption, along with subsidies in manufacturing will lead to the growth of hybrid electric vehicle all over the world during the forecast period.
According to TechSci Research report, “Hybrid Electric Vehicle Market – Global Industry Size By Hybridization Type, By Vehicle Type, By Powertrain, By Propulsion, By Region, Competition, Forecast & Opportunities, 2017-2027F”, Global Hybrid Electric Vehicle Market is anticipated to register a CAGR of 9.10%, in terms of volume 13.32 million during the forecast period, owing to sustainable government regulations. China, being the largest hybrid electric vehicle producer and market in the world, is expected to grow at a CAGR of 7.75% during the forecast period. According to the government of China, the country is planning to improve the productivity of hybrid electric vehicles, providing subsidies to ease purchasing of vehicles and hence, sustained growth is expected in the country. Strengthening of financial state of global automotive industry by loan waivers, availability of subsidized rate of commodities and growing popularity of bank financing will be the key factors responsible for the growth of hybrid electric vehicle market worldwide for next five years.
Global hybrid electric vehicle market is classified based on hybridization type, vehicle type, by powertrain type, by propulsion type, and by region. Based on hybridization type the market is segmented into mild-hybrid electric vehicle (MHEV) and full-hybrid electric vehicle (FHEV). Based on vehicle type, the market is segmented into two wheelers, passenger car, light commercial vehicles, and medium and heavy commercial vehicle. Increase in sales of electric passenger cars due to presence of huge population and growing disposable income is driving the growth of passenger car segment.
Browse 188 market data Figures spread through 110 Pages and an in-depth TOC on "Global Hybrid Electric Vehicle Market"
https://www.techsciresearch.com/report/hybrid-electric-vehicle-market/12952.html
In terms of hybridization, FHEV was the fastest growing segment during the forecast period. During the forecast period, the mild-hybrid sector is expected to account for the highest volume of the market. During the forecast period, the full-hybrid market is anticipated to witness the faster growth at a CAGR of 9.18%. The expansion of the full-hybrid market can be ascribed to ongoing technological advancements that have improved fuel economy and decreased emissions.
On the basis of powertrain type, market is segmented among parallel hybrid, series-parallel hybrid, and series hybrid. Owing to the rising use of regenerative braking technology, this market is probably going to expand. When the brakes are applied, regenerative braking technology recovers the energy needed to recharge the battery. It lessens the need for external power infrastructure and as a result, the regenerative braking system is the most widely employed technology in hybrid automobiles. The market for parallel hybrids will increase due to the utilisation of the regenerative braking system and the lower cost of micro and mild hybrids compared to PHEVs.
By region, the market is distributed into Asia-Pacific, Europe, North America, South America, Middle East & Africa. With China accounting for the largest market share in 2021, APAC is predicted to have the quickest rate of growth for the hybrid car industry. The rising sales of hybrid automobiles in Japan, China, and South Korea are responsible for the market expansion in the area. Major participants in the market for hybrid vehicles, including Toyota Motor Corporation, Honda Motor Co., Ltd., Nissan Motor Co., are all based in the Asia-Pacific region. Worldwide sales of hybrid vehicles are dominated by Toyota Motor Corporation. Thus, the extensive use of hybrid car technology in China and Japan is expected to propel the demand for hybrid electric vehicles in APAC region. China is expected to register a CAGR of 7.75% and will help boost the market during the forecast period.
Due to the implementation of lockdown to prevent COVID-19 pandemic, sales of hybrid electric vehicles fell at the end of first and beginning of second quarter in most of the countries in 2021. Nevertheless, in most of the regions across the globe, the market recovered substantially at the end of second quarter and almost completely by the third quarter. Hence, giving positive outlook to the market forecast for the year 2022.
Toyota Motor Corporation company holds the largest share in the global hybrid electric, electric vehicle followed by Volkswagen AG, Honda Motor Co., Ltd., Nissan Motor Co., Ltd., Groupe Renault, BMW AG, Suzuki Motor Corporation, Wuling Motors Holdings Limited, AB Volvo, and The General Motors Company.
Customers can also request for 10% free customization on this report
Toyota Motor Corporation dominated the market in the year 2021, due to its remarkable dealership network, which offers a wide range of economical yet qualitative products with adaptive technological demands of their customers as well as withstanding government’s safety norms. The demand for hybrid electric vehicles is expected to increase globally in the coming years, on account of increased adaption of green energy technology, which is expected to drive market growth”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Hybrid Electric Vehicle By Hybridization Type (MHEV, FHEV), By Vehicle Type (PC, LCV, M&HCV), By Powertrain (Parallel Hybrid, Series-Parallel Hybrid, Series Hybrid), By Propulsion (Diesel Hybrid, Petrol Hybrid), By Region, Competition, Forecast & Opportunities, 2017-2027F” has evaluated the future growth potential of global hybrid electric vehicle market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Hybrid Electric Vehicle Market.
About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
Press Release : https://www.techsciresearch.com/news/7686-hybrid-electric-vehicle-market.html
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Global Electric Vehicle Battery Charger Market Research Report: Information by Electric Vehicle Type (Battery Electric Vehicle and Plug-In Hybrid Electric Vehicle), Level of Charging (Level 1, Level 2 and Level 3), Application (Private and Public) and by Region (North America, Europe, Asia-Pacific and the Rest of the World) - Forecast till 2025
The electric vehicle battery charger is a device to transfer electricity from the electric grid and distribute electricity to charge electric vehicles, such as battery electric vehicle, plug‐in hybrid electric vehicles.
The various types of vehicle battery chargers developed and manufactured by the electric vehicle battery charger industry to convert AC to DC and to control battery charging are segmented by the level of charging as level 1, level 2, and level 3.
There are different types of chargers used to charge an EV, including AC, DC, and inductive charges to suit the applications of home chargers, commercial/public charging, and workplace charging.
However, governments across the world focus on developing charging stations to boost the adoption of electric vehicles.
This is expected to positively affect the demand for electric vehicle charger demand through the forecast period.
Which Is The Best Between Honda Insight Or Toyota Corolla?
The development, referred to as trademark erosion, is comparable to once everybody says tissue paper to explain a tissue, albeit in numerous brands turn out tissues; the word & likeness of a Prius dominate Hybrid Sports Car shared image.
Delving deeper into this new category of normal wanting, cheap compact hybrid sedans, we tend to alveolate Honda's Insight against Toyota's initial ever whorl hybrid.
It's easy to choose abreast of every hybrid's approach to mixing gas and electrical drive sources once the 2 Sports Cars area unit sampled consecutively.
The Honda accelerates from a stop very like a completely auto, mistreatment its 129 HP electrical drive motor to quietly whisk you up to hurry.
this is often associate sonic, gritty event one that gets louder and grittier the quicker the engine is spinning place your foot to the ground, as an example, and also the engine revs up and belts out a shrill blender-like sound.
