About Hybrid Trucks
Hybrid trucks are the trucks that use gasoline or diesel to power an internal combustion engine and also have an electric motor and battery. By using both conventional engine and electric motor, hybrid trucks achieve significantly better fuel efficiency than non-hybrid trucks. They are less polluting vehicles and saves fuel. Regenerative breaking is another fuel-saving feature of the hybrid trucks. It captures some of the kinetic energy when applies breaks.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Hybrid Trucks 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.
Daimler AG (Germany), Hino Motors (Japan), Allison Transmission (United States), Balqon Corporation (United States), Honda Motor Company (Japan), Scania AB (Sweden), Crane Carrier Company (United States), Toyota (Japan), Boulder Electric Vehicle (United States) and Ford Motor (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Hybrid Trucks market by Type (Series Hybrid Trucks, Parallel Hybrid Trucks and Series-Parallel Hybrid Trucks), Application (Transpiration and Freight) and Region.
On the basis of geography, the market of Hybrid Trucks 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 Vehicle, the sub-segment i.e. Light Duty Truck will boost the Hybrid Trucks market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Trend of Greener Forms of Transport System
Market Growth Drivers:
Increased Demand for Hybrid Vehicles, Less Dependence on Fossil Fuels and Improved Fuel Efficiency and Decreased Sources of Fossil Fuels
Challenges:
Production of Hybrid Trucks with Improved Technology
Restraints:
Less Awareness among the People
Opportunities:
Rising Demand from Developed and Developing Countries and Increased Demand for Vehicles with More Fuel Efficiency
Market Leaders and their expansionary development strategies
In December 2023, BorgWarner Inc. has completed its acquisition of the Electric Hybrid Systems business segment of Eldor Corporation. The acquisition is an important complement to the ePropulsion portfolio, especially as it relates to expansion in high-voltage power electronics beyond the inverter. "We are pleased to complete the acquisition and welcome Eldor's talented employees to BorgWarner," said Frédéric Lissalde, President and CEO of BorgWarner
In December 2021, Scania introduces world-class, versatile hybrid trucks. Scania’s latest hybrids are a true stepping-stone towards full electrification, Increased electric power – 230 kW allows many potential applications. With an electric range of 60 km, PHEVs offer versatile solutions. GE281 is an electric machine with two electric motors, 2,100 Nm and a six-speed gearbox, making for fuel savings of up to 40%.
Key Target Audience
Hybrid Trucks 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.