Hybrid Vehicles Market Size, Share, Analysis, Industry Demand And Forecasts Report To 2022

Published On:July 11, 2017, 9:57 am

Hybrid vehicles make use of two or more discrete kinds of power. They are also termed as hybrids and use both an electric motor and a small internal combustion engine (ICE) to acquire extreme power and fuel economy with least amount of emissions.For instance, submarines use batteries when submerged and diesel when surfaced, and diesel-electric trains which use electricity and diesel engines from overhead lines.All hybrid cars have one thing in common and that is the potential to produce and store electric current in huge batteries and later use the stored current to help drive the vehicle. These vehicles are also known to preserve energy by closing the internal combustion engine when the vehicle is parked, halting the traffic, idle at a light and/or when the energy in the electric motor is adequate enough to function the vehicle with no help from the internal combustion engine.

Hybrid vehicles comprise of regenerative braking systems which, in order to assist in keeping the batteries charged, produces electric power.On application of brakes, the electric motor converts itself into a generator and the vehicle is slowed down by the magnetic drag.Nevertheless, for safety purposes, these vehicles also have hydraulic braking systems which when the regenerative braking is not sufficient enough, helps in stopping the vehicle.These vehicles function without individual engines and alternators and generally have several combined generators or motors that is used to start internal combustion engine. Hybrid vehicles render enhanced performance when compared to others and thereby making them superior in front of the traditional ones.

The Global Hybrid Vehicles Market is expected to grow substantially during the forecast period due to the demand for addressing customers’ requirements related to reduction in fuel expenditure and compulsory compliance with norms pertaining to CO2emissions.There is an increasing awareness amongst consumers pertaining to use of electric drive trains and hybrid vehicles and this is anticipated to drive the global market of this industry.Escalating eco-friendly enterprises related to emission of fuel is said to lucratively impact the global market. On account of growing focus on hybrid and electric vehicles, the customer base for green cars in the United States has significantly amplified. Consumers are emphasizing on improved fuel efficiency and the need for eco-friendly vehicles has resulted in innovation and development of hybrid and electric versions of popular existing car models.

Internal combustion engines are anticipated to lead the complete automotive market, however hybrid vehicles along with electric vehicles are predicted to make substantial in-roads.Moreover, there is also a slow but constant preference towards green cars by the commercial transportation industry. Many market players have started to research options to get the most out of efficient opportunities for hybrid drive in heavy trucks. Even though the hybrid vehicles have a steady demand across the globe, the market of this industry is probably to face restraints in future. The cost associated with the research and development of hybrid vehicles is not very cost efficient and this seem to be filtering the selling price and that is deterring many consumers from buying. Additionally, the cynicism regarding the use of hybrid will also potentially hinder the complete market growth during the forecast period.

Geographically, the global hybrid vehicles market is sectioned into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.Out of these, the Asia Pacific is predicted to dominate the market owing to flourishing automotive industry and increasing investments by overseas companies in the developing economies. Higher fuel prices, altering lifestyles, and escalated awareness pertaining to advantages of hybrid vehicles is also estimated to have a lucrative impact on this region. Some of the major market manufacturers of this industry are Bayerische Motoren Werke (BMW) AG,General Motors Company,Hyundai Motor Company,Ford Motor Company,Nissan Motor Co. Ltd.,Audi AG,Toyota Motor Corporation,Mercedes-Benz USA, LLC,Renault SA, and MAN SE, Honda, Lexus, BYD, NISSAN, Volkswagen, MAZDA, KIA, SAIC MOTOR, etc.

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