Global Hybrid & Electric Cars Market worth US$ 135.5 Billion 2018 with a CAGR of 28.60%
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The report "Global Hybrid & Electric Cars Market, By Hybridization (Micro-hybrid, Mild-hybrid, Full-hybrid, and Plug-in hybrid), By Type (Hatchback, And Sedan), By Battery (NiMH, and Li-ion), By Propulsion (HEV, PHEV, and NGV), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2030". Global Hybrid & Electric Cars market accounted for US$ 135.5 billion in 2018 with a CAGR of 28.60%. The increasing demand for mild hybrid electric cars is an emerging trend in the hybrid electric car market. The acceptance rate of mild hybrid cars is rising across the globe, especially in emerging economies.
On April 23, 2019, Tesla announced Model S and Model X now come with an all-new drivetrain design that increases each vehicle’s range substantially, faster charging, more efficient design, and fully adaptive suspension.
On December 20, 2020, Toyota announced to launch new model Yaris in Japan on Feb 10, 2020, with new-generation compact car surpasses its class with the provision of outstanding driving pleasure, WLTS test cycle fuel efficiency (for the Hybrid X), and the latest safety and security technologies.
Key Market Insights from the report:
The global hybrid & electric cars market accounted for US$ XX billion in 2019 and is projected to register a moderate CAGR of XX% over the forecast period. The market report has been segmented based on hybridization, type, battery, propulsion, and region.
By hybridization, the mild hybrid electric car category is expected to see the faster growth in the hybrid electric car market during the forecast period.
By type, hatchbacks have largely dominated the hybrid electric car market, owing to the high consumer preference for small cars in major hybrid electric vehicle markets.
By battery, Nickel-metal hydride (NiMH) batteries accounted for the larger volume share in the hybrid electric car market.
By propulsion, the hybrid electric vehicles (HEV) market has witnessed significant growth due to the need for addressing future energy requirements.
By region, Europe is predicted to register the fastest growth in the hybrid electric car market during the forecast period, owing to government support in the form of subsidies and stringent emission norms.
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