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Hybrid Vehicle Market

Due to rising concerns about environmental emissions and promising government policies and funding, the global hybrid vehicle market is growing at a substantial pace. The Hybrid Vehicle market has led to various forms of propulsion. Due to the growing adoption of medium and large vehicles and the advancement of electrical configuration, the industry has witnessed high demand for the PHEV segment in the coming years.

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Hybrid Vehicle Market

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  1. Hybrid Vehicle Market Due to rising concern about environmental emissions and promising government policies and funding, the global hybrid vehicle market is growing at a substantial pace. The Hybrid Vehicle market has led to various forms of propulsion. Due to the growing adoption of medium and large vehicles and the advancement of electrical configuration, the industry has witnessed high demand for the PHEV segment in the coming years. By component, the hybrid vehicle market is subdivided into electric motor, battery, and transmission. Battery segment accounted the largest share in the market, as it is the most important component of a hybrid vehicle. By electric power train type, the market is subdivided into parallel hybrid and series hybrid. The parallel hybrid accounted the larger share and is expected to grow at the fastest rate in the market due to augmented usage of braking technology, high performance and less complex system. By propulsion, the market is subdivided into hybrid electric vehicle (HEV), natural gas vehicle (NGV) and plug-in hybrid electric vehicle (PHEV). The HEV segment accounted the largest share in the hybrid vehicle market. By degree of hybridization, the full hybrid segment accounted the largest share in the market due to decreased emission owing to constant technology advancement and refining fuel competence. By vehicle type, the passenger cars accounted the larger share in the hybrid vehicle market due to high demand for personal mobility, improved lifestyle, mounting need for mid and large sized cars. The key growth drivers for the hybrid vehicle market are mounting emission regulations, relentless reduction of battery prices, mounting concern about environmental emissions, high adoption rates of fuel cell vehicles and optimum fuel competence. High vehicle price and mounting demand for FCEVs and BEVs are the major challenges for the growth of hybrid vehicle market. News Recent: In March 2018, Toyota and Suzuki Motor Company have signed a joint sourcing agreement between the two firms for the Indian market for electric cars and other vehicles. Competitive Insights: The main players in the Hybrid Vehicle Market are Toyota, Hyundai, ZF, Ford, Honda, Borgwarner, Volvo, Delphi Technologies, Daimler, Allison Transmission, Continental and Schaefler.

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