Hybrid Cars Market
REPORT DESCRIPTION
Hybrid Cars Market ( Type - Series , Parallel , Plug-in , and Series-Parallel ; Energy Source - ICE Hybrid , Fuel Cell Hybrid , Solar Hybrid , and Natural Gas Hybrid ; Vehicle Type - Passenger Cars and Commercial Cars ) - Global Industry Analysis , Size , Share , Growth , Trends , and Forecast 2016 - 2024
The global hybrid cars market witnesses a high degree of competition between the leading players , namely , Toyota , General Motors , Hyundai , Ford , Nissan , Honda , BMW , and Volkswagen , finds a new study by Transparency Market Research ( TMR ). Researchers anticipate this rivalry to intensify further in the near future as companies will try to take center stage by introducing new products constantly .
Browse Market Research Report @ http :// www . transparencymarketresearch . com / hybrid-cars-market . html
As per the research report , the global market for hybrid cars stood at US $ 102.88 bn in 2015 . Rising at a CAGR of 16.50 % during the period from 2016 to 2024 , the opportunity in this market is likely to reach a value of US $ 398.90 bn by the end of the forecast period . Currently , series parallel hybrid cars are registering a higher demand than other vehicles . Analysts expect the scenario to continue being so over the next few years , thanks to the unmatched efficiency offered by series parallel hybrid cars .
Continued Strong Demand for Hybrid Cars in Asia Pacific
The report also presents a regional analysis of the worldwide market for hybrid cars that includes its performance in North America , Asia Pacific , the Middle East and Africa , Europe , and Latin America . Asia Pacific has acquired the dominance in this market . It led the overall market in 2015 with a share of more than 70 % and is projected to continue to dominate at a high cumulative average growth rate throughout the forecast period . The rise in the awareness level pertaining to the benefits offered eco-friendly vehicles as compared to conventional vehicles among consumers in Asian economies , especially in Japan and China and the increase in various governments ’ initiatives to encourage the uptake of hybrid cars are anticipated to ensure the leadership of Asia Pacific market for hybrid cars over the forthcoming years .
On the flip side , Europe and North America are likely to record a moderate progress in their respective markets for hybrid cars in the near future due to motorization . The markets in Latin America and the Middle East and Africa are expected to
Transparency Market Research
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