Attributed to features that enable end users to charge batteries using gasoline-powered motors will significantly impact growth of the global hybrid vehicle market over the following decade. In addition, alignment of electric propulsion motors to internal combustion engine will drive sales of the hybrid vehicles globally. According to a recent report compiled by Future Market Insights, leading hybrid vehicle manufacturers globally will mainly focus on increasing production capacity and development of passenger cars in order to meet escalating demand for compact hybrid SUVs.
Passenger cars among other types of vehicles will gain over 1000 BPS, and register a healthy CAGR of 22.8% in the span of next ten years. Japan among various regions, will grow at a relatively high revenue growth, accounting for over US$ 270 Bn in hybrid vehicle market over the following decade. The global hybrid vehicle market will grow at an impressive 20.4% CAGR in the span of next ten years.
As compared to diesel hybrid engines, fuel efficiency and performance of gasoline hybrid engines will be relatively high over the following decades. Adding unwanted torque and lowering the efficiency of fuel in the hybrid vehicles, gasoline engines are relatively lighter than diesel engines. In addition, power train configuration in the hybrid vehicles will be a significant factor propelling demand for hybrid vehicles among customers in the span of next ten years.
Nearly 318,000 units of diesel hybrid engines were sold globally in 2016. Moreover, nearly US$ 400 Bn gasoline hybrid engines will be sold in the hybrid vehicle market globally over the following decade. A major challenge is the lack of charging stations that is likely to inhibit adoption of hybrid vehicles. In addition, sales of hybrid vehicles globally will account for nearly 20% of the market revenues in the span of next ten years. Furthermore, attributed to silent operability of hybrid vehicles in parallel with growing levels of noise pollution will further propel demand of the range of hybrid vehicles over the following decade.
While the hybrid vehicles have not gained traction in regions such as Africa, Latin America and Middle East, the hybrid vehicles are likely to gain traction in Asia Pacific, Europe and North America. Supply of petroleum and high availability of petroleum in these regions is a major reason that hybrid cars are not gaining traction. In addition, lack of adequate public stations for charging has further contributed towards growth of the hybrid vehicle market globally in the span of next ten years.
Blend of methanol and ethanol mixed with petrol will further be attributed to sales of hybrid passenger cars in Latin America. Due to such factors, Latin America and Brazil will be a major end user of flexible fuel over the following decade. Moreover, due to over double the sales of hybrid vehicles in the U.S., the sales in Asia Pacific and Japan recorded relatively high sales of hybrid passenger cars in 2015.
Passenger cars will gain over 1000 BPS, and will grow at a healthy 18.9% CAGR in the hybrid vehicle market in North America in the span of next ten years. Whereas, passenger cars will gain over 1000 BPS over the following decade as compared to 2016. In addition, the passenger cars will grow at an impressive CAGR of 18.9% in the span of next ten years. In addition, the passenger cars in the APEJ hybrid vehicles market will gain over 1200 BPS over the following decade. The passenger cars in APEJ will grow at an impressive CAGR of 15.7% in the span of next ten years.
For more information, please visit http://www.futuremarketinsights.com/reports/global-hybrid-vehicles-market