Hybrid Vehicle Market Global Sales, Revenue, Price and Gross Margin Forecast To 2023
Posted: Jun 27, 2019
Hybrid Vehicle Market 2019 is latest research report by MarketResearchFuture, the global Hybrid Vehicle market is expected to Register High Growth Rate during 2019 To 2023. Report analyzes Hybrid Vehicle Market Key Companies with Size, Share, Trends analysis, and Key Country Forecast to 2023. Hybrid Vehicle Market Information is segmented by Electric Powertrain (Parallel, Series), by Propulsion (HEV, PHEV, NGV), by Component Type (Electric Motor, Transmission, Battery), by Degree of Hybridization, by Vehicle Type & by Region - Forecast till 2023
The Key Players in Hybrid Vehicle Market Are:
Toyota Motor Corporation (Japan), The Ford Motor Company (U.S.), AB Volvo (Sweden), Continental AG (Germany) and ZF Friedrichshafen AG (Germany). Daimler AG (Germany), Hyundai Motor Company (South Korea), Honda Motor Company, Ltd. (Japan), Schaeffler Technologies AG & Co. KG (Germany), BorgWarner Inc. (U.S.), Delphi Technologies, Inc. (U.K.) and Allison Transmission (U.S.) are amongst the other important players in this market.
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The hybrid vehicle primarily uses two or more different power sources, namely the internal combustion engine and the electric generator, which help operate the electric motor. Types of the fossil fuel such as petrol or diesel are used to drive the petrol engine or the diesel engine, which in turn drives the electric trains connected to the electric generator. The electric generator ultimately powers the electric motor. The primary principle that drives the hybrid vehicles is that different sources of powering the engine work efficiently corresponding to different speeds. After this, the switching from one fuel to the other at the right time results in maximum efficiency yielded by the automobile engine. This ultimately leads to the overall fuel efficiency thus, saving on the fuel cost required for operating the automobile.
Several factors aid in the growth of the global hybrid vehicle market. Firstly, the rise in fossil fuel costs has led to customers demanding hybrid vehicles to bring down the automobile operating cost. Secondly, the governments of leading countries are trying to reduce the carbon footprint by switching to alternative automobile fuels and the hybrid vehicle option, which would lead to reduced pollution. Thirdly, the scarcity of the fossil fuels due to excessive consumption has encouraged automakers to search for newer and cost-efficient automotive technologies including the hybrid vehicles for safeguarding the future automobile sales. Lastly, greater efficiency in terms of engine performance and fuel consumption can be achieved using the hybrid vehicles. The global hybrid vehicle market is expected to expand with a CAGR of approx. 9% (2017 to 2023).
Hybrid Vehicle Market by Segmentation:
On the basis of propulsion type, the plug-in hybrid electric vehicles are growing in popularity. Besides the generator, and engine mechanism, which generates electric power to charge the battery, these vehicles consist of a battery that can be recharged by plugging into an external power source. The hybrid electric vehicles use a battery source that can only be charged by the engine generator mechanism apart from completely replacing the battery as a brand new unit. The natural gas vehicle makes use of the compressed natural gas, which helps in powering the engine that drives the generator, which in turn drives the electric motor causing the motion of the vehicle.
On the basis of region, the market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Asia Pacific is expected to lead the market demand in the hybrid vehicles. The large population in this region coupled with a rising middle class causes the automotive sales in this region to rise, continuously. The underperforming and overburdened public transport system in countries such as India and China result in continual increase in the use of private automobiles. To tackle the increased fuel costs, the customers in this region are preferring the hybrid vehicles. The stringent emission norms laid down by the European Union and the United States Environmental Protection Agency have resulted in higher preference of hybrid vehicles. All these factors, cumulatively make the hybrid vehicle a continually growing market at the global level.
The report for Global Hybrid Vehicle Market of Market Research Future comprises extensive primary research along with the detailed analysis of qualitative and quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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Table of Contents
- Executive Summary
- Scope Of The Report
- Market Landscape
- Market Dynamics
- Global Hybrid Vehicle Market, By Electric Powertrain
- Global Hybrid Vehicle Market, By Propulsion
- Global Hybrid Vehicle Market, By Component Type
- Global Hybrid Vehicle Market, By Degree Of Hybridization
- Global Hybrid Vehicle Market, By Vehicle Type
- Global Hybrid Vehicle Market, By Region
- Competitive Landscape
- Company Profile
List Of Tables
Table 1 Global Hybrid Vehicle Market: By Region, 2017-2023
Table 2 North America Hybrid Vehicle Market: By Country, 2017-2023
Table 3 Europe Hybrid Vehicle Market: By Country, 2017-2023
Table 4 Asia Pacific Hybrid Vehicle Market: By Country, 2017-2023
Table 5 RoW Hybrid Vehicle Market: By Country, 2017-2023
FIGURE 1 Research Process Of MRFR
FIGURE 2 Top Down & Bottom Up Approach
FIGURE 3 Market Dynamics
FIGURE 4 Impact Analysis: Market Drivers
FIGURE 5 Impact Analysis: Market Restraints
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR) and Mar