Press Releases
 
Hybrid Cars Market: Positive Outlook for Industry Opportunities & Trends for Expansion

, 31 August 2018 -- Hybrid Cars Market: Positive Outlook for Industry Opportunities & Trends for Expansion

The global hybrid cars market is characterized by the prevalence of intense competition among the prominent vendors such as Volkswagen, BMW, Honda, Nissan, Ford, Hyundai, General Motors, and Toyota. A report by Transparency Market Research (TMR) estimates that this competition is further going to be magnified owing to the innovations by the leading market vendors. The companies are constantly trying to launch new products in manner to lead the competition. It is expected that companies with global presence and huge product portfolio will dominate the market in the coming future.

Get Brochure For More Information@ https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=250

In the report, Transparency Market Research has estimated that the market will attain value of US$398.90 bn by 2024, and it was valued at US$102.88 bn in 2015. During the forecast period of 2016-2024, the global market for hybrid cars is expected to expand at a rising CAGR of 16.50%.

In 2015, Asia Pacific dominated the market and accounted for 70% of the global market. The increasing awareness among the consumers, especially in Japan and China is expected to help Asia-Pacific sustain it lead over the forecast period. Among series parallel hybrid cars, plug-in hybrid, parallel hybrid, and series hybrid; series parallel hybrid cars are expected to experience high demand and drive the global market.

Government Support for Low-Carbon Emitting Vehicles to Assist Market Growth

Consumers are adopting carbon-free products due to the alarming rise in the level of air pollution, which is continuously increasing the global temperature. Hybrid cars use electricity for their functioning instead of gasoline or diesel, helping to control carbon emission. This augmenting ecological awareness among consumers is expected to fuel the growth of the global market of hybrid cars.

Furthermore, governments in various countries have implemented strict rules to curb carbon emissions, which is motivating manufacturers to increase investment in the production of hybrid cars. Some governments are also providing various subsidies and incentives to buyers of hybrid cars, which is expected to fuel the demand for hybrid vehicles. For instance, for new passenger cars, the European Union norms of 2009 has set CO? emission level at 130g/km. The Euro VI norm introduced in 2014, suggests new cars to keep the nitrogen oxide emission below 0.4g/kWh and other emissions below 0.01g/kWh. Analysts forecast that the countries such as Brazil, Russia, Mexico, and Australia will also implement stringent emission standards in the near future, which is most likely to increase the global sale of hybrid cars.

High Cost of Hybrid Cars could Hamper Global Market Growth

Hybrid cars are very expensive, which may hinder the growth of the market during the forecast period. Furthermore, electric cars are suspected to be the direct competitor of hybrid cars. Easy availability of electric cars may act as a restraint for the growth of the global market of hybrid cars. Nevertheless, the implementation of stringent emission standards is expected to be in the favor of hybrid cars, which is expected to result in growth of hybrid cars global market. The hybrid cars are made up of lighter materials and have lighter engines, which make the car lighter, hence use less power for their functioning. As more consumers are adopting hybrid cars, these cars are started commanding higher resale values that traditional cars. This is motivating consumers to buy hybrid cars over traditional cars. The leading companies in this market are continuously spending on research and development practices of hybrid cars. These developments are expected to add an advantage for the growth of this market over the forecast period.

Get Customize Report@ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=250

For the report, the market has been segmented as follows:

By Type

Series hybrid
Parallel hybrid
Plug-in hybrid
Series-Parallel hybrid

By Energy Source

ICE hybrids
Fuel cell hybrids
Solar hybrid
Natural gas hybrid

By Vehicle Type

Passenger Cars
Commercial Car

# # #


Submitted by K Singha on Friday, 31 August 2018 at 7:35 PM
Category: Science & Research
 
Related News

Asia Pacific Organic Personal Care Ingredients Market Report-2024
Thursday, 18 Apr 2019

Asia Pacific Nasal Drops Market: Status and Forecast 2024
Wednesday, 17 Apr 2019

Quantum dot imaging advances
Tuesday, 16 Apr 2019

Global Arthroscopy Devices Market: Status and Forecast 2025
Tuesday, 16 Apr 2019

Global Cardiac Assist Devices Market: Status and Forecast 2025
Monday, 15 Apr 2019

Related Events

Aerospace Mental Health and Wellbeing Conference RAeS London - 22/23 May 2019
Wednesday, 22 May 2019

20th International Union for Quaternary Research Congress (INQUA 2019)
Thursday, 25 Jul 2019

Latest News

Outcrop Gold Provides Corporate Update
Monday, 22 Apr 2019

Holter ECG Monitor Market Size, Status and Forecast to 2026
Monday, 22 Apr 2019

Play Online Lottery
Monday, 22 Apr 2019

Rapid Test Market to Deliver Positive Growth Results until 2026
Monday, 22 Apr 2019

dbForge Studio for Oracle Now Has A New Look & Oracle 19c Support
Monday, 22 Apr 2019

 
Want to get your press releases, event listings, and job ads on Scoopasia? Register now for a FREE account or login if you already have one!
Scoopasia v1.0b. Copyright © 2019
Today is Tuesday, 23 April 2019

About Scoopasia | FAQ | Privacy Policy | Contact Us

Press Releases
Event Listings
Job Listings
Arts & Entertainment
Architecture & Construction
Automotive & Travel
Business
Consumer Technology
Economy
Education
Enterprise Technology
Food & Fashion
Government & Policy
Health Care & Medical
Legal/Law
News & Media
Religion
Science & Research
Sports & Fitness
Login / Register
Get Scoopasia through RSS Feeds & Email Notifications!


Journalist's Toolbox
Hello journalist, welcome to Scoopasia--a powerful online resource for media information in Asia. Scoopasia has press releases and media events for every beat and industry. All content on Scoopasia is 100% FREE. You don't even need to login!

  • Scoop Line
    (Instant Information Request)
    The easiest way to ask questions and request information from the PR community.


  • Advanced Search
    Drill down, dig deep, for media information the way you want it.

  • Journalist's Resources
    Resources and tools you can't do without.

  • PR Tools
    Scoopasia Blog Search
    Search the largest handpicked collection of Asia's most prominent and influential blogs.


    Resources
  • PR Bookmarks
  • Web 2.0 Bookmarks
  • Media Bookmarks

    More Coming Soon...

  • Upcoming Events
  • 3rd Annual NASH Summit | April 22-25, 2019 | Boston, MA
  • Rx Drug Abuse and Heroin Summit
  • European NeoAg Summit 2019
  • 46th IOP Plasma Physics Conference, Loughborough, UK
  • Transformational CISO Assembly in Nashville - April 2019

  • Latest Jobs
    Sorry, there are currently no entries posted here.