Hybrid Electric Car Market Outlook, Opportunities, Challenges, Trends, Size, Growth and Competitive Analysis

MARKET SEGMENTATION
By Hybridization
• Full
• Mild

By Battery
• NiMH
• Li-ion

By Type
• Hatchback
• Sedan
• Others (Include sport utility vehicles (SUVs), multi-purpose vehicles (MPVs), and Crossovers)

Global hybrid electric car market is projected to reach $1,38,023.3 million value by 2023, P&S Intelligence.

Falling battery prices, low price compared to other electric cars, and increased fuel economy, are some of the major factors driving the growth of hybrid electric car market globally.

Hybrid electric cars are the combination of chemically fueled (gasoline, diesel, or alternative) internal combustion engine, electric motors, battery, and regenerative braking. Altogether, the combination of above components improves the vehicle efficiency, increase fuel economy, and decrease emissions.

Request to Get the Sample Report@ https://www.psmarketresearch.com/market-analysis/hybrid-electric-car-market/report-sample

Hybrid hatchbacks have largely dominated the hybrid electric car market, owing to consumer preference toward small cars in major HEV markets, such as Japan. Hatchback HEVs are expected to continue their dominance in the hybrid electric car market with a CAGR of 16.6%, owing to their low cost compared to other car types and the upcoming launch of several new hatchback HEV models during the forecast period.

The hybrid electric car market is expected to witness the highest growth in Europe, with a CAGR of 28.5% during the forecast period, owing to stringent emission norms, increased and improved offerings of HEVs from automakers, and growing sense of environmental concern among customers in the region. In addition, continuous decline in the sales of diesel vehicles in the European region after the Volkswagen emission scandal in September 2015 and the expected launch of new HEV models by Renault, Volkswagen, PSA, Mercedes-Benz, and Volvo is further boosting the hybrid electric car market growth.

The penetration of the hybrid electric car market in emerging economies, such as China, India, Indonesia, Brazil, and South Korea, is in the formative stage. However, there is a high scope for the market growth in developing countries, owing to stringent emission norms, high gasoline prices, and high demand for passenger cars in these regions. Many automakers are planning to enter these markets with their new and existing hybrid car models. For instance, Maruti Suzuki plans to launch several hybrid cars in India by 2020.

The abovementioned factors are anticipated to provide potential growth opportunities to the hybrid electric car market in the forecast period.

Browse report overview with 93 tables and 41 figures spread through 121 pages and detailed TOC on "Hybrid Electric Car Market by Hybridization (Full, Mild), by Type (Hatchback, Sedan), by Battery (NiMH, Li-ion), by Geography (U.S., Canada, China, Japan, South Korea, Germany, France, U.K.) – Global Market Size, Share, Development, Growth, and Demand Forecast, 2013–2023" at:https://www.psmarketresearch.com/market-analysis/hybrid-electric-car-market

Some of the major players operating in the global hybrid electric car market are Toyota Motor Corporation, Honda Motor Co. Ltd., Bayerische Motoren Werke (BMW) Group, Ford Motor Company, Volkswagen AG, General Motors Company, and Hyundai Motor Company.

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact:
P&S Intelligence
Toll-free: +1-888-778-7886 (USA/Canada)
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.