Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Hybrid Vehicle Market Research Report – Forecast t | Page 2

future automobile sales. Lastly, greater efficiency in terms of engine performance and fuel
consumption can be achieved using the hybrid vehicles. The global hybrid vehicle market is
expected to expand with a CAGR of approx. 9% (2017 to 2023).
Hybrid Vehicle Market by Segmentation:
On the basis of propulsion type, the plug-in hybrid electric vehicles are growing in
popularity. Besides the generator, and engine mechanism, which generates electric power
to charge the battery, these vehicles consist of a battery that can be recharged by plugging
into an external power source. The hybrid electric vehicles use a battery source that can
only be charged by the engine generator mechanism apart from completely replacing the
battery as a brand new unit. The natural gas vehicle makes use of the compressed natural
gas, which helps in powering the engine that drives the generator, which in turn drives the
electric motor causing the motion of the vehicle.
Regional Analysis:
On the basis of region, the market is segmented into North America, Asia Pacific, Europe,
and Rest of the World. Asia Pacific is expected to lead the market demand in the hybrid
vehicles. The large population in this region coupled with a rising middle class causes the
automotive sales in this region to rise, continuously. The underperforming and
overburdened public transport system in countries such as India and China result in
continual increase in the use of private automobiles. To tackle the increased fuel costs, the
customers in this region are preferring the hybrid vehicles. The stringent emission norms
laid down by the European Union and the United States Environmental Protection Agency
have resulted in higher preference of hybrid vehicles. All these factors, cumulatively make
the hybrid vehicle a continually growing market at the global level.
The report for Global Hybrid Vehicle Market of Market Research Future comprises
extensive primary research along with the detailed analysis of qualitative and quantitative
aspects by various industry experts, key opinion leaders to gain the deeper insight of the
market and industry performance. The report gives the clear picture of current market
scenario which includes historical and projected market size in terms of value and volume,
technological advancement, macro economical and governing factors in the market. The
report provides details information and strategies of the top key players in the industry.
The report also gives a broad study of the different market segments and regions.
Get Full Report Details of Hybrid Vehicle Market @
https://www.marketresearchfuture.com/reports/hybrid-vehicle-market-6025
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