Press release
Hybrid Vehicle Market 2018 Expected Reach USD 243.20 Billion Revenue by 2026 | Top Players Toyota, Ford, Volvo, Continental, ZF, Daimler, Hyundai, Honda, Schaefler, Borgwarner, Delphi Technologies, and Allison Transmission
Global Hybrid Vehicle Market OverviewGlobal Hybrid Vehicle market is accounted for $68.03 billion in 2017 and is expected to reach $243.20 billion by 2026 growing at a CAGR of 11.2% during the forecast period. Raising discharge Norms, Growing eco-friendly initiatives pertaining to fuel emissions, Optimum Fuel ratio and uninterrupted reduction in battery price. However, increasing vehicle costs and growing demand for BEVs and FCEVs are inhibiting the market growth. Hybrid vehicle is used as diesel-electric or turbo-electric to power railway locomotives, buses, heavy goods vehicles, mobile hydraulic machinery, and ships and mechanical braking energy is regenerated.
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Industry Insights:
On the basis of Powertrain, Parallel hybrid is one of the fastest growing markets in the Hybrid Vehicle Market due to its less complex system and high performance. It is also suitable for long distance travel. Also, the energy conversion losses are minimized in a parallel hybrid as the engine and battery are connected to the motor directly. The regenerative braking system is the most commonly used technology in hybrid vehicles. The use of the regenerative braking system and the lesser cost of micro and mild hybrids compared to PHEVs will boost the demand for parallel hybrids.
Major Players:
Some of the key players are Toyota, Ford, Volvo, Continental, ZF, Daimler, Hyundai, Honda, Schaefler, Borgwarner, Delphi Technologies, and Allison Transmission.
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Market Segmentation:
By Geography, Asia Pacific is the highest market due to the huge sales volume in Japan and China. Countries are focusing on deploying a large fleet of low-emission vehicles. It is the home for major players in the Hybrid Vehicle Market such as Toyota, Honda, Nissan, Kia, BYD, Hyundai, and others.
Technologies Covered:
• Micro Hybrid
• Mild Hybrids
• 48 V Li-Ion Battery of Mild Hybrid
• Full Hybrids
• Plug-In Hybrids
Regions Covered:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa
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