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The Hybrid Vehicle Market has been segmented by Type (Micro-hybrid, Mild-hybrid, Full-hybrid, and Plug-in hybrid), Vehicle Range (10 to 50 miles, 50 to 100 miles and greater than 100 miles) Vehicle Type (Passenger Cars and Commercial Vehicles) and Geography.
Fastest Growing Market:
The hybrid vehicle market is anticipated to register a CAGR of about 16.35%, during the forecast period (2020 – 2025).
The hybrid vehicles market covers the latest trends and technological development in the hybrid vehicles market, demand of the type, vehicle range, vehicle type, geography and market share of major hybrid vehicle manufacturers across the world.
|By Vehicle Type|
|By Vehicle Range|
|10 to 50 miles|
|50 to 100 miles|
|More than 100 miles|
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There has been tremendous growth in electric vehicles all over the world. There were close to 112,000 electric vehicles operating in the world in 2012. In just 6 years in 2018, electric vehicles fleet crossed 3.2 million mark with China, US, Norway being the fast adopters.
In India, Phase II of hybrid FAME scheme started commenced from 1st April 2019 with a budget of INR 10000 crores. Various states and union territories such as Delhi, Rajasthan, Uttarakhand and Lakshadweep don’t levy any VAT on electric vehicles. State of Tamil Nadu introduced its electric vehicle policy which gives 100% road tax exemption for all EVs, subsidies and refund of State GST. During union budget 2019, India announced lowering of GST from 12% to 5% on electric vehicles.
The government around the world are offering many subsidies for the customers purchasing electric and hybrid vehicles. In 2018, 456000 hybrid electric and plug in electric vehicles were sold in the US. About USD 678 million was reserved for the purchase of subsidies, which is expected to run until 2019. Another USD 339 million was allotted to finance the deployment of charging stations in cities and on the Autobahn highway. Nearly, USD 113 million was allocated for purchasing electric cars in the federal government fleet. There are many federal laws and incentives such as Airport Zero Emission Vehicles and Infrastructure incentive, low and zero emission public transport research, demonstration and deployment funding, qualified plug in electric vehicle tax credit, etc. that supports the growth in sales of hybrid and electric vehicles in US.
The Dutch government reduced the registration fees up to 4% for an electric vehicle and 7% for a plug-in hybrid vehicle. Also, the Ministry of Infrastructure and Environment gives a subsidy of USD 3,574 on the purchase of all-electric taxis or delivery vans, and this value has been increased to USD 5957 per vehicle in the main cities, like Amsterdam, Rotterdam, the Hague, Utrecht, and Arnhem-Nijmegen.
New zero emission vehicle (ZEV) incentives in several European countries and the arrival of several new battery electric vehicle (BEV) models, including Tesla’s Model 3, are fueling the market growth in the region.
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China is the world’s biggest electric bus market with 98% of total global electric bus fleet. Hybrid buses reduces the emissions to a greater extent. Plug in hybrid electric bus emit 873 grams of CO2 per km compared to 1104 grams of CO2 by conventional diesel buses. China is fighting the problem of air pollution by promoting fast adoption of Electric and Hybrid vehicles. China has increased the minimum density limit for non-fast charging electric buses from 85 kWh/kg to 115 kWh/Kg. The share of conventional fuel engine buses in China decreased from 62.7% in 2013 to 36.9% in 2018 while the share of energy buses rose from a negligible 0.33% in 2013 to 63.2% in 2018.
This high adoption can be attributed to strong municipal framework that many provinces in China has adopted. More than 30 Chinese cities have made plans to achieve 100% electrified public transit by 2020, including Guangzhou, Zhuhai, Dongguan, Foshan, and Zhongshan in the Pearl River Delta, along with Nanjing, Hangzhou, Shaanxi, and Shandong.
However, In China’s 2019 EV subsidy policy, the limit of vehicles eligible for electric vehicle subsidy has been increased while the values of subsidies are decreased by nearly 50%. China plans to phase out subsidies for all electric vehicles (EVs) and fuel cell vehicles by 2021. This factor may hinder the growth of hybrid vehicle sales in China.
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The hybrid vehicle market is mainly dominated by some of the major automotive players, such as Toyota, Nissan, Honda, BYD, Mitsubishi, BMW, Ford, etc., of which, Toyota, Nissan, and Honda, holding a significant market share of the hybrid vehicle market, globally.
The companies are making new strategic partnerships, investing majorly in R&D projects and launching new products in the market for being ahead of their rivalries. For instance, Ford is investing USD 11 billion in electrification, with plans to add 40 hybrid and fully electric vehicles to its lineup by 2022 and Toyota Prius was the world's first mass-produced hybrid car, and the firm has sold 13 million hybrid cars since its introduction
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Attractiveness - Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.4 Plug-in Hybrid
5.2 By Vehicle Type
5.2.1 Passenger Vehicles
5.2.2 Commercial Vehicles
5.3.1 North America
22.214.171.124 United States
126.96.36.199 Rest of North America
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
5.3.4 Rest of the World
18.104.22.168 South America
22.214.171.124 Middle East & Africa
5.4 By Vehicle Range
5.4.1 10 to 50 miles
5.4.2 50 to 100 miles
5.4.3 More than 100 miles
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Company Profiles
6.2.1 Toyota Motor Corporation
6.2.2 Nissan Motor Co. Ltd
6.2.3 Honda Motor Company Ltd
6.2.4 The Hyundai Motor Company
6.2.5 Kia Motors Corporation
6.2.6 Mercedes- Benz
6.2.7 Volvo Group
6.2.8 Volkswagen Group
6.2.10 Ford Motor Company
6.2.11 Mitsubishi Motors Corporation
6.2.12 BYD Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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