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Global Hybrid Electric Vehicle Market to Expand at 37.16% CAGR over 2016-2020

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Published on : Dec 06, 2016

ALBANY, NY, Dec 06, 2016: The research report, titled “Global Hybrid Electric Vehicle Market 2016-2020,” offers an all-inclusive and unbiased analysis of this market, considering the key trends, driving factors, opportunities, restraints, and future prospects into consideration.

According to the research report, the global market for hybrid electric vehicles is estimated to rise at an exceptional CAGR of 37.16% over the period from 2016 to 2020. The implementation of strict government rules and regulations regarding emissions and fuel efficiency is likely to boost this market considerably in the near future.

The report studies the global market for hybrid electric vehicles on the basis of the type of vehicle, degree of hybridization, and the geography. Based on the type of vehicle, the market has been classified into entry-level vehicles, mid-luxury vehicles, SUV, luxury sedan, and commercial vehicles. Among these, the entry-level hybrid electric vehicles are expected to retain the leading position in this market over the forecast period, states the report.

Based on the degree of hybridization, the report categorizes the worldwide market for hybrid electric vehicles into Full hybrid electric vehicles, Mild hybrid electric vehicles, and Plug-in hybrid electric vehicles. The full hybrid electric vehicles segment, which accounted for a share of nearly 40% in the overall market in 2015, is likely to remain dominant in the coming years, notes the study.

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Geographically, the global market for hybrid electric vehicles has been segmented into North America, Asia Pacific (APAC), and Europe. Asia Pacific is likely to surface as the main contributor to this market over the forecast period. The surge in initiatives of various governments for encouraging the uptake of hybrid vehicles and electric vehicles that run on batteries, together with the growing demand for alternative fuel vehicles (AFV), is expected to drive the growth of Asia Pacific market for hybrid electric vehicles during the forecast period.

In addition to this, the advancing economies of developing nations, such as India and China will also reflect positively on the demand for hybrid electric vehicles in this region over the forthcoming years, states the report.

The competitive analysis of the global market hybrid electric vehicles has also been presented in this research report. With the intense competition between Hyundai, Ford, Honda, Nissan, and Toyota, the market has been demonstrating a highly competitive and fragmented landscape.

These participants boast of a vast geographical presence and consider Europe and North America to be their main markets. Companies with a wide ranging product portfolio are likely to lead the overall market over the forthcoming years, notes the research study. Some of the other important market players profiled in this research report are BMW, Volkswagen, Lexus, Chevrolet, and Porsche.

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