Hybrid Vehicles Market (Engine Type - Hybrid Electric-Petroleum Vehicles, Continuously Outboard Recharged Electric Vehicle (COREV), Hybrid Fuel, Fluid Power Hybrid) – Outlook 2024

Global Hybrid Vehicles Market: Overview

This market research study analyzes the hybrid vehicles market on global basis and provides estimates in terms of revenue (US$ Bn) from 2015 to 2024. It describes the market dynamics affecting the industry and analyzes their impact through the forecast period. Moreover, it highlights the significant opportunities for market growth in the next eight years. The market is segmented on the basis of geography into Europe, North America, Asia Pacific, Middle East and Africa (MEA), and Latin America. Thesesegments have been estimated in terms of revenue (US$ Bn). In addition, the report has been segmented based on engine type, which includes, hybrid electric-petroleum vehicles, continuously outboard recharged electric vehicle (COREV), hybrid fuel (Dual Mode), fluid power hybrid and others. By vehicle type the market is categorized into passenger vehicles, light commercial vehicles and heavy commercial vehicles. For better understanding of the hybrid vehiclesmarket, the study comprises market attractiveness analysis, where vehicle types are benchmarked based on their market scope, growth rate and market attractiveness. The hybrid vehicles market is consolidated as there are few hybrid vehicle manufacturing companies among which Toyota holds majority of the market share in the world. Competitive rivalry is projected to be high among key players to acquire higher share of the market in the coming years.

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Global Hybrid Vehicles Market: Drivers

Hybrid vehicles uses two or more sources of power for its functioning such as internal combustion engine along with an electric motor. Due to high pollution created by conventional vehicles run on gasoline and diesel, there has risen a need to search for alternate sources of energy which are environment friendly in nature. Hybrid vehicles are eco-friendly, which consume less fuel or power and create low emission. Such vehicles can also be run on gasoline and diesel apart from its primary electric motor or battery. Gasoline hybrid vehicles are witnessing growing demand in the North American and European market because of its superior performance and low pollution. Moreover, diesel hybrid vehicles are expected to witness a larger growth in the Asia Pacific and African regions, considering its high fuel efficiency.

Global Hybrid Vehicles Market: Trends

The global hybrid vehicles market is consolidated where few market players hold majority of the market share. Entry into this market is not restricted as there is no monopoly of business and the market has huge scope and opportunity. However, setting up of manufacturing units for hybrid vehicles require huge capital and resource, which is not feasible for most of the small and medium sized companies.Increasing private equity investments and merger and acquisitions of companies in the automotive sector has been of great influence to the hybrid vehicles market. Significant growth in the automotive sector coupled with economic reforms in major developing countries has been able to bolster the growth of this market. Asia Pacific, Middle East and Africa, and Latin America are key markets for the future and are expected to provide huge opportunities to the global hybrid vehicles manufacturers because of the growth in the automotive sector and rising demand for energy efficient and environment friendly vehicles.

The report also provides company market share analysis of the various industry participants. Acquisition is the main strategy being widely followed by leading market players. In case of an acquisition, the acquirer takes advantage of existing synergies. As a result, both companies are expected to emerge more profitable and stronger than before.

Key Players Mentioned in this Report are:

Key players in the global hybrid vehicles market have been profiled and their company overview, financial overview, business strategies and recent developments have been covered in the report. Major market participants profiled in this report include: General Motors Company, Bayerische Motoren Werke (BMW) AG, Ford Motor Company, Audi AG, Mercedes-Benz USA, LLC, Hyundai Motor Company, Toyota Motor Corporation, MAN SE, Nissan Motor Co. Ltd., and Renault SA.

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