Global Hybrid Electric Vehicle Market to Grow Steadily During The Next Four Years and Post an Impressive CAGR of more than 37% by 2020

Albany, NY, 6th FEB : HEVs represent the transformation of the global automotive industry. HEVs are an amalgamation of ICE vehicles and electric vehicles (EVs). Currently, traditional ICE vehicles dominate the industry due to their tested and proven engine mechanism, performance, and buyers' preferences. The production of HEVs started from the 19th century in Germany where Ferdinand Porsche made the first gasoline-electric hybrid automobile, the Lohner-Porsche Mixte. In 1905, Henri Pieper developed the historic HEV model, which had similar technology as the present one. This model from 1905 included an electric motor/generator, batteries, and a small engine. Batteries could be charged through electric motors while cruising at lower speeds. Wheels received power through both the motor and engine during extra torque requirements such as driving up a hill.

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Technavios analysts forecast the global hybrid electric vehicle market to grow at a CAGR of 37.16% during the period 2016-2020.

Covered :
The report covers the present scenario and the growth prospects of the global hybrid electric vehicle market for 2016-2020. To calculate the market size, the report includes the entire range of hybrid cars available in the market, with region-wise landscaping.

Segments based on geography:
APAC
Europe
North America

Technavio's report, Global Hybrid Electric Vehicle Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
Toyota
Hyundai
Honda
Ford
Nissan

Other prominent vendors
BMW
Chevrolet
Hyundai
Lexus
Porsche
Volkswagen

Key driver
Subsidies and tax rebates for HEVs to reduce dependency on petroleum products.
For a full, detailed list, view our report

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Key challenge
Cost-to-weight ratio high for hybrid vehicles than ICE vehicles.
For a full, detailed list, view our report

Key trend
High-density, high-power, and small-size batteries.
For a full, detailed list, view our report

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This release was published on openPR.