About Hybrid Car
The hybrid car is an automobile which is powered by two sources an internal combustion engine and an electric motor and its system recaptures energy via regenerative braking. The kinetic energy generated by the regenerative braking is used to charge the batteries. In the hybrid car sometimes the electric motor does all the work, sometimes a gas engine and sometimes they work together. It has various benefits such as low emission and pollution.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 202 |
Unit | Value (USD Million) |
CAGR | 12.83% |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Japanese Vendors will contribute the maximum growth to Global Hybrid Car market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Toyota Motor Corporation (Japan), General Motors (United States), Hyundai Motor Company (South Korea), Ford Motor Company (United States), Nissan Motor Co. Ltd. (Japan), BMW (Germany), Volkswagen AG (Germany), Honda Motor Co. Ltd. (Japan), Fiat Chrysler Automobile (United Kingdom) and Mitsubishi Motor Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Renault SAS (France), Lexus (Japan), Infiniti (Hong Kong) and Forbes (United States).
Segmentation Overview
AMA Research has segmented the market of Global Hybrid Car market by Type (Series, Parallel, Plug-in and Series-Parallel), Application (Passenger Cars and Commercial Cars) and Region.
On the basis of geography, the market of Hybrid Car has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Energy Source, the sub-segment i.e. ICE Hybrid will boost the Hybrid Car market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand for Eco-Friendly Vehicles
Market Growth Drivers:
Growing Awareness about the Environmental Concerns and Government Initiatives for Adoption of Hybrid Cars
Challenges:
High Cost of the Hybrid Cars
Restraints:
Fluctuations in the Raw Material Prices
Opportunities:
Technological Advancements in Hybrid Cars and Increasing Demand for Green Vehicles in Developing Countries
Market Leaders and their expansionary development strategies
In July 2020, Cummins Inc. (NYSE: CMI) today announced that it is acquiring Silicon Valley-based Efficient Drivetrains, Inc. (EDI), which designs and produces hybrid and fully- electric power solutions for commercial markets. Adding EDI to the Cummins portfolio is the latest step forward in Cummins’ efforts to become a global electrified power leader.
In August 2023, The new Vellfire was launched back with a starting price tag of Rs 1.2 crore (ex-showroom). Offered in two trims - Hi and VIP, the Vellfire comes with a 2.5-litre 4-cylinder petrol engine, paired to a strong-hybrid system. The total output of the MPV is 193PS and 240Nm.
Key Target Audience
Hybrid Car Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.