Press release
Hybrid Truck Market size is expected to reach 36.12 Bn by 2030, as per Maximize Market research
Hybrid Truck Market was valued at USD 24.21 Bn. in 2023. Global Hybrid Truck Market size is estimated to grow at a CAGR of 5.88% over the forecast period.Hybrid Truck Market Overview
The hybrid truck market, driven by regulatory pressures and the shift towards cleaner energy solutions, is witnessing significant growth. Hybrid heavy-duty vehicles combine combustion engines with electric powertrain technologies, making them suitable for long hauls and heavy freight transport. These trucks feature larger tires and flexible suspension systems, ensuring high ground clearance and allowing them to tackle rough terrains effectively.
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Trends in the Hybrid Truck Market
The United States and Europe, are tightening emission limits and promoting fuel-efficient vehicles to curb greenhouse gas emissions. For example, the US Department of Transportation's CAFE standards aim to boost fuel economy. This shift pushes automakers to innovate, focusing on hybrid and electric models.
Challenges in Hybrid Truck Market
The rising demand for fully electric and fuel cell electric vehicles (FCEVs) poses a challenge for hybrid vehicles. Automakers like Tesla and BYD are focusing more on BEVs, offering various models. FCEVs, which provide long-range capabilities and quick refueling without emissions, are also gaining traction, supported by government initiatives promoting fuel cells in transportation.
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Hybrid Truck Market regional analysis
North America remains a dominant player due to stringent pollution control regulations. Meanwhile, the Asia Pacific region, led by Japan, China, and South Korea, shows the fastest growth, with key manufacturers like Toyota, Honda, and BYD expanding their hybrid vehicle sales.
Recent News about Hybrid Truck market
20/10/2024 General Motors has turned a Chevrolet Silverado heavy-duty pickup truck into a combat-ready hybrid.
27/9/2024 Toyota Motor Manufacturing Alabama Produces 10 millionth Engine, Will Power Hybrid Truck
12/7/2024 SANY launches SET320S hybrid mining truck in Shenyang
31/7/2024 Ford unveils redesigned Maverick as part of a flexible electrification strategy
30/6/2024 UK haulage industry calls for investment in electric truck infrastructure
15/5/2024 China's BYD launches new hybrid truck in Mexico
15/3/2024 Cummins announces field testing of mining hybrid truck solution
6/4/2024 Chinese auto giants to sell hybrid, EV pickup trucks in Thailand
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Hybrid Truck Market Segmentation
by Technology
Parallel hybrid
Series hybrid
Series-parallel hybrid
Plug-in hybrid
by Hybrid Type
Full hybrid
Micro hybrid
Mild hybrid
by Vehicle Type
Buses
Trucks
by Power Train Type
Series
Parallel
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Hybrid Truck Market Key Players
1 AB Volvo (Sweden)
2 Daimler AG (Germany) (Mercedes Benz Group)
3 Nissan Motor Corporation (Japan)
4 Azure Dynamics Corp. (USA)
5 Hino Motors, Ltd. (Japan)
6 General Motors (USA)
7 Nikola Motor Company (USA)
8 Fiat Chrysler Automobiles (Italy)
9 Volkswagen AG (Germany)
10 Renault Trucks (France)
11 DAF (Netherlands)
12 BYD Motors Inc. (China)
13 Danfoss (Denmark)
14 Dongfeng Motor Corporation (China)
15 Ford Motor Company (USA)
16 Toyota Motor Corporation. (Japan)
17 Liebherr Group (Germany)
18 MAN SE (Germany)
Key questions answered in the Hybrid Truck Market are:
• What segments are covered in the Global Hybrid Truck Market report?
• Which region is expected to hold the highest share in the Global Hybrid Truck Market?
• What is the market size of the Global Hybrid Truck Market by 2030?
• What is the forecast period for the Global Hybrid Truck Market?
Key Offerings:
• Past Hybrid Truck Market Size and Competitive Landscape (2018 to 2022)
• Past Pricing and price curve by region (2018 to 2022)
• Market Size, Share, Size & Forecast by Different Segment | 2024-2030
• Hybrid Truck Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
• Market Segmentation - A detailed analysis by segment with their sub-segments and Region
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
o § Competitive landscape - Hybrid Truck Market Leaders, Market Followers, Regional player
o § Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of Business by Region
• Lucrative business opportunities with SWOT analysis
• Recommendations
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About Maximize
Maximize Market Research is a global market research and consulting company that provides businesses with insights to foster their growth and competitive advantage. The company specializes in delivering actionable and data-driven research reports tailored to help organizations make informed decisions. With a team of experienced analysts and consultants, Maximize Market Research offers expertise across multiple industries, including healthcare, technology, manufacturing, consumer goods, and more.
Their services cover market sizing, forecasting, competitive analysis, and customer insights, helping clients to address their strategic needs and identify emerging trends. The company emphasizes client success, offering detailed analysis and recommendations that support business transformation and operational excellence.
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