The scarcity of fossil fuel has also expedited the adoption of hybrid cars as a cost-efficient alternative to the conventional vehicles. Hybrid cars affirm profit in the future growth trajectory of the automobile industry. The market is projected to gain traction in the forthcoming years and remains highly lucrative.
Market Segmentation:
By electric powertrain, the global Hybrid Vehicle Industry has been segmented into parallel hybrid and series hybrid.
By component type, the global Hybrid Vehicle Industry has been segmented into electric motor, transmission, and battery.
By degree of hybridization, the Hybrid Vehicle Industry has been segmented into micro hybrid, mild hybrid, and full hybrid.
By vehicle type, the global Hybrid Vehicle Industry has been segmented into passenger vehicle and commercial vehicle.
Regional Analysis:
The global Hybrid Vehicle Industry, by region, has been segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is likely to secure a dominant position in the global market. The growth of the middle-class section of the society coupled with increasing disposable income is projected to drive the expansion of the Hybrid Vehicle Industry in the region. Australia, China, and India are essential country-level markets forecasted to boost the growth of the market over the next couple of years.
North America and Europe are important growth pockets presumed to grow significantly in the foreseeable future. The stringent regulations framed by the governments in these regions for the protection of the environment has led to an expansion of the market presence of hybrid cars in the region.
Competitive Dashboard:
Some of the key players profiled in the report are The Ford Motor Company (U.S.), AB Volvo (Sweden), Toyota Motor Corporation (Japan), Continental AG (Germany), Daimler AG (Germany), Hyundai Motor Company (South Korea), ZF Friedrichshafen AG (Germany), Honda Motor Company, Ltd. (Japan), BorgWarner Inc. (U.S.), Delphi Technologies, Inc. (U.K.), Schaeffler Technologies AG & Co. KG (Germany), and Allison Transmission (U.S.)
Industry News:
In December 2018, Maruti Suzuki India Ltd has started working on its first full hybrid car, and the government is likely to offer incentives for hybrid cars along with electric cars.
In December 2018, currentautomotive.com has been launched in Naperville, the U.S., to deal in online pre-owned electric and plug-in hybrid vehicles.
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