Hybrid electric vehicles combine conventional Internal Combustion Engine (ICE) system with an electric propulsion system. Hybrid electric vehicles are being equipped with various features such as modern powertrain systems, real-time information on battery level, navigation system, etc. Manufacturers are also focusing on increasing the speed of hybrid electric vehicles. They are also trying to reduce the cost of maintenance and upgrades. Hybrid electric vehicle manufacturers are also integrating remote monitoring systems to navigate heavy traffic and to assess energy consumption and cost. This Fact.MR report discusses key prospects for growth of global hybrid electric vehicles market during the forecast period, 2017-2022, offering pragmatic insights to lead market players towards devising & implementing informed strategies.
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Scope
The scope of the report is to analyze the global hybrid electric vehicles market for the period 2017-2022 and give readers an accurate, unbiased analysis. Hybrid electric vehicles manufacturers, suppliers, and stakeholders in the overall automotive market can benefit from the insights offered in this report. The comprehensive analysis offered in the report can also be of interest to leading automotive journals and trade magazines.
In a bid to keep readers up-to-date on the latest developments in the global hybrid electric vehicles market, the report offers readers a roundup of the latest trends impacting the market. As the automotive sector is ever-evolving, staying abreast with latest trends and developments is paramount to formulating key business strategies. Information on supply chain, cost structure, pricing analysis, raw material sourcing, and list of distributors are offered to readers in this section.
The Fact.MR report offers an in-depth and segment-wise analysis and forecast of the global hybrid electric vehicles market. The global hybrid electric vehicles market is segmented into power source, powertrain, vehicle type and region. Through this section, the report provides country-wise forecast on all the key parameters.
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5 Forecast Highlights on Global Hybrid Electric Vehicles Market
1- Asia Pacific Excluding Japan (APEJ) is expected to remain dominant in the global hybrid electric vehicles market. APEJ hybrid electric vehicles market is projected to bring in nearly US$ 16,800 million revenues by the end of 2022.
2- North America hybrid electric vehicles market is also expected to experience impressive growth during 2017-2022. Owing to the government focusing on pollution reduction, zero-emission vehicles are increasingly being promoted, hence, North America is witnessing the growth in adoption of hybrid electric vehicles. Moreover, manufacturers are also introducing cost-effective and lightweight vehicles.
3- Stored electricity is expected to be the largest power source for hybrid electric vehicles. Towards the end of 2022, stored electricity is estimated to reach nearly US$ 33,600 million revenues. Meanwhile, the on board electric generator is also expected to witness significant growth during the forecast period, 2017-2022.
4- Parallel hybrid powertrain system is estimated to account for nearly three-fourth of the revenue share by the end of 2017. The parallel hybrid powertrain system is projected to create an incremental opportunity of over US$ 16,600 million between 2017 and 2022.
5- Compared to commercial hybrid electric vehicles, passenger hybrid electric cars are expected to witness robust growth. By the end of 2022, passenger hybrid electric cars are estimated to surpass US$ 25,200 million revenue. Whereas, commercial hybrid electric vehicles are projected to account for nearly one-third of the revenue share on global revenues by 2017 end.
Competition Tracking
The report also profiles companies that are expected to remain active in the expansion of global hybrid electric vehicles market through 2022, which include Bayerische Motoren Werke AG, Nissan Motor Corporation, Limited, Honda Motor Company, Limited, Volkswagen AG, Toyota Motor Corporation, Tesla Motors, Inc., Renault SA, Mitsubishi Heavy Industries Ltd, Ford Motor Company, General Motors, and Daimler AG.
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