Hybrid Vehicle Market| COVID-19 Impact, Competitive Dynamics, Size, Challenges and Global Outlook till 2023
Hybrid Vehicle Market| COVID-19 Impact, Competitive Dynamics, Size, Challenges and Global Outlook till 2023
(firmenpresse) - Hybrid Vehicle Market Overview
Market Research Future (MRFR) in their report declared growing eco-awareness as an important market factor, along with demand for curbing cost of the fuel. Governments in many regions are providing subsidies to encourage people in taking up these models.
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Competitive Landscape
Companies impacting the global hybrid vehicle market are Toyota Motor Corporation (Japan), The Ford Motor Company (U.S.), AB Volvo (Sweden), Continental AG (Germany) and ZF Friedrichshafen AG (Germany). Daimler AG (Germany)
In 2019, Ferrari launched their new hybrid car SF90 Stradale with their first model to include plug-in technology. The vehicle comes with 769 horsepower and can switch from 0 to 62mph in just 2.5 seconds with a top speed of 211 mph. The car also boasts the presence of 3 additional electric motors that contributes extra 217 horsepower.
Market Segmentation
Based on the hybridization, the hybrid vehicle market includes micro hybrid, mild hybrid, and full hybrid vehicle. The full hybrid segment has the widest expansion with the highest sales record.
Based on the vehicle type, the hybrid vehicle market consists passenger car and commercial car. The passenger car segment is quite happening as growing concern regarding eco-friendly productions have led to the easy acceptance of such cars among clients. At the same time, major car makers are increasing their investment for the sector which can inspire easy growth.
Regional Analysis
North America, Asia Pacific (APAC), Europe, and Rest-of-the-World (RoW) are the four regions that have been included in the study of the hybrid vehicle market. MRFR, in their study, emphasized on finding out various growth opportunities across the globe as per the revelations made by region-specific figures.
The APAC region is expected to ensure their dominance during the forecast period with their extraordinary growth rate. China is providing much traction to the global market. The region has adopted this technology to get rid off the pollution which has riddled the country. Europe is also expected to gain substantial growth during the forecast period. Stringent eco-friendly laws are expected to make the case strong for the incorporation of hybrid vehicles, ensuring a smoother movement ahead.
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About Market Research Future
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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Datum: 15.06.2020 - 09:22 Uhr
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News-ID 614497
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Date of sending: 15/6/2020
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