Global Hybrid Car Market Expected to Grow at a Rate of 18.92 Percent in the Next 3 Years
NEW YORK, LONDON, BERLIN, PARIS, July 24, 2012 /PRNewswire/ --
The Global Hybrid Car market to grow at a CAGR of 18.92 percent in terms of units sold over the period 2011-2015. One of the key factors for this growth is the increasing global oil consumption. The Global Hybrid Car market has also been witnessing an increase in initiatives by governments to create awareness and acceptance of hybrid cars. However, the high cost of hybrid cars is acting as a barrier to the market growth.
The Global Hybrid Car Market report has been prepared based on an in-depth analysis of the market with inputs from industry experts. The report covers the Global Hybrid Car market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market. The scope of this report includes the market for hybrid electric vehicles (HEV) and plug-in electric vehicles (PHEV).
Commenting on the report, an analyst from the publishing Automotive team said; ''With the time and research on the development of the battery systems of hybrid cars, the overall cost of batteries and total cost of ownership will decrease. By 2014, the total cost of ownership of plug-in hybrid electric vehicles (HEVs) with a battery of 10 KWh will be below that of an internal combustion engine vehicle and, by 2017, the total cost of ownership of plug-in hybrid electric vehicles with a battery of 15 KWh will be lower than an internal combustion engine vehicle. The total cost of ownership of battery electric vehicles will be less than an internal combustion engine vehicle by 2020 with the development of batteries. This reduction in cost will fuel the growth of the Global Hybrid Car market.''
According to the report, labor arbitrage, i.e., the various advantages offered by the hybrid car to the end-user such as energy efficiency, less pollution, better performance, reduced dependency on natural resources and many more are also a major force which has led to the adoption of hybrid cars and the growth of the Global Hybrid Car market. Further, the report also discusses that the high cost of hybrid cars is one of the major challenges faced by this market.
Key vendors dominating this market space include Toyota Motor Corp., Honda Motor Co. Ltd., Ford Motor Co., and Nissan Motor Co. Ltd. Other vendors mentioned in the report: General Motors Co., BMW AG, and Volkswagen Group. The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key players.
To read more information on this report visit - http://www.reportstack.com/product/85169/global-hybrid-car-market-2011-2015.html or http://www.reportstack.com
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