Hybrid Vehicles Market to be Worth US$193.29 Bn by 2024 due to Growing Adoption of Eco-friendly Technologies, Noted TMR

ALBANY, New York, April 24, 2019 /PRNewswire/ -- The global hybrid vehicles market has a highly competitive vendor landscape, Transparency Market Research (TMR) predicted during the study period. Some of the prominent players including Audi AG, Ford Motor Company, MAN SE, Nissan Motor Co. Ltd., Renault SA., Mercedes-Benz USA, LLC, and General Motors Company are dominating in the global hybrid vehicles market.

The market features a large number of players. Additionally, a continuously growing number of players, which are estimated to expand their products offering in hybrid vehicles areas. In order to the expansion of their product portfolio, the key players are increasingly investing in research & development activities. Additionally, for achieving expansion of product portfolio these players are entering into mergers & acquisitions (M&A), partnership, and collaborations, which are expected to create numerous growth opportunities for key players in the hybrid vehicles market in coming years.

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=18926

According to TMR, the global hybrid vehicles market is assessed to expand at a CAGR of 10.30% over the forecast period from 2016 to 2024. With this vigorous CAGR, the market is expected to attain a value of US$193.29 Bn by 2024-end from the revenue collected in 2015 of US$75.52 bn.

Based on the types, the passenger vehicles segment dominated the global hybrid vehicles market and is expected to expand at an impressive CAGR over the forecast period. Based on the region, Asia Pacific is projected to lead the pack in the global hybrid vehicles market over the forecast period. This growth of the region is attributable to the growing adoption of the passenger vehicles along with the booming automotive sector in the region.

Request a Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=18926 

Growing Demand for Eco-Friendly Alternatives to Propel Market's Growth

The hybrid vehicle's market is gaining grip due to the high demand for technologically advanced automotive globally and especially across developing countries. In order to reduce fuel consumption, as it is an exhausting source of energy, the consumers are preferring alternatives such as electric vehicles and hybrid vehicles. Further, the volatile prices of traditional fuels are also encouraging exploration of efficient alternatives. Additionally, growing norms over the reduction of the CO2 emission is leading to enhance demand for the eco-friendly or less harmful vehicles. These above-mentioned factors are driving the growth of the global hybrid vehicles market.

Furthermore, growing government support in terms of the favorable policies encouraging adoption of the biofuel is fuelling the growth of the global hybrid vehicles market. Other initiatives for ensuring the safety of the environment and lowering pollution due to emission of harmful gaseous in environment are supporting growth of the global hybrid vehicles market. The government is focusing to upgrade public transport by adopting eco-friendly and efficient transport facilities. This growth of the hybrid vehicles market is ascribed to the high demand for passenger vehicles across the globe.

Have Any Query? Ask Our Industry Expert: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=18926 

High Time Required to Makeup Profits to Restrain Market's Growth

In addition, lack of efficient batteries in electric vehicles is resulting to high adoption of the hybrid vehicles market. However, low profitability is increasing concerns regarding high time consumption for makeup profit is hampering growth of the hybrid vehicles market to some extent. Nonetheless, European emission standards are gaining support from the other governments, which is expected to offer lucrative opportunities for growth. Additionally, the factors such as growing adoption and preference for biofuels over traditional fuel are also offering opportunities for growth of the hybrid vehicles market in the coming years.

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=18926 

This information is encompassed in the report by TMR, titled, "Hybrid Vehicles Market (Engine Type - Hybrid Electric-Petroleum Vehicles, Continuously Outboard Recharged Electric Vehicle (COREV), Hybrid Fuel (Dual Mode), Fluid Power Hybrid and Others; Vehicle Type - Passenger Vehicles, Light Commercial Vehicles, and Heavy Commercial Vehicles) - Global Industry Analysis, Market Size, Share, Growth, Trends and Forecast 2016 - 2024."

Browse Press Release: https://www.transparencymarketresearch.com/pressrelease/hybrid-vehicles-market.htm

For the study, the Hybrid Vehicles Market has been segmented as follows:

Type

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Spain
• Italy
• Rest of Europe

• Asia Pacific
• China
• Japan
• Australia
• India
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa
• South Africa
• Saudi Arabia
• Rest of Middle East & Africa

Browse More Automotive & Transport Market Research Reports

Popular Research Reports by TMR:

• Solar Module for Electric Vehicle Market - https://www.transparencymarketresearch.com/solar-module-for-electric-vehicle-market.html
• Reefer Truck Market - https://www.transparencymarketresearch.com/reefer-truck-market.html
• Vehicle Roadside Assistance Market - https://www.transparencymarketresearch.com/vehicle-roadside-assistance-market.html 
• On-demand Transportation Market - https://www.transparencymarketresearch.com/on-demand-transportation-market.html 

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com
Research Blog: https://tmrblog.com/

SOURCE Transparency Market Research