Press release
Hybrid Electric Vehicle Market Share, Trends, Demand, Growth And Forecast 2022-2027
A hybrid electric vehicle (HEV) is an automobile powered using a combination of an internal combustion engine (ICE) and electric motor(s). It uses energy stored in batteries for functioning and is charged through regenerative braking, which converts the kinetic energy generated by the vehicle into electric energy. The stored energy can also be utilized for powering auxiliary loads and reducing idle emissions. Nowadays, HEVs are gaining prominence among the masses as they offer better performance, improved fuel economy and reduced carbon-based emissions. They are an environment-friendly alternative to conventional vehicles as they run on clean energy and provide better mileage.
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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Hybrid Electric Vehicle Market Trends:
With a significant increase in air pollution levels due to exhaust emissions from vehicles, there has been a rise in the adoption of vehicles that produce low or zero emissions without compromising performance. This, along with rapid urbanization, especially in developing economies, and the improving purchasing power of the masses, has contributed to increased uptake of HEVs. Besides this, the growing environmental concerns have shifted the focus toward sustainable development, thereby increasing the demand for HEVs.
Moreover, governments of several countries are implementing stringent emission regulations and fuel economy norms, which are creating a positive outlook for the market. They are also providing purchase grants, related incentives, tax rebates, utility rate reductions and parking privileges to users to encourage the adoption of EVs. Furthermore, several manufacturers are continually investing in research and development (R&D) activities to introduce innovative vehicles with enhanced performance, soundless operation and improved fuel efficiency. Other factors, such as the growing preference for mild HEVs across developing economies, rising preference for fuel-efficient automobiles and significant improvements in charging infrastructure, are driving the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global hybrid electric vehicle market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on propulsion type, configuration type, vehicle type and power source.
The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Propulsion Type:
Full Hybrids
Mild Hybrids
Plug-in Hybrids
Others
Breakup by Configuration Type:
Series HEV
Parallel HEV
Combination HEV
Breakup by Vehicle Type:
Passenger Cars
Commercial Vehicles
Two Wheelers
Others
Breakup by Power Source:
Stored Electricity
On Board Electric Generator
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Some of these key players include:
Toyota Motor Corporation
Honda Motor Co. Ltd.
Ford Motor Company
Volkswagen Aktiengesellschaft
General Motors Company
Hyundai Motor Company
Nissan Motor Corporation Ltd.
Explore full report with table of contents: https://www.imarcgroup.com/hybrid-electric-vehicle-market
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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Electric Two-wheeler Market: https://www.imarcgroup.com/electric-two-wheeler-market
Autonomous Vehicle Market: https://www.imarcgroup.com/autonomous-vehicle-market
Autonomous Bus Door System Market: https://www.imarcgroup.com/autonomous-bus-door-system-market
Rear Spoiler Market: https://www.imarcgroup.com/rear-spoiler-market
Car Rack Market: https://www.imarcgroup.com/car-rack-market
Automotive Infotainment Market: https://www.imarcgroup.com/automotive-infotainment-market
Automotive Wiring Harness Market: https://www.imarcgroup.com/automotive-wiring-harness-market
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About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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