Hybrid Electric Car Market Future Growth Analysis and Challenges

1. Hybrid Electric Car Market Analysis, Top Companies, Growth Rate and Opportunities 1 ©P&SIntelligence.Allrightsreserved

2. Due to the increasing problem of air pollution, governments around the world are implementing stringent policies to control greenhouse gas (GHG) emissions from automobiles. For instance, the Euro 6 standards have been implemented in Europe and Bharat Stage VI standards in India to ensure the transition to cleaner variants of gasoline and diesel vehicles. Such policies have impelled automakers to change the technology of the engines, to make them compatible with the newer fuels. As a result, conventional automobiles are becoming more expensive, which is taking them out of the reach of an increasing number of people, especially in developing countries. As per P&S Intelligence, cost issues with the conventional automobiles compliant with the new regulations will be a key factor in taking the hybrid electric car market to $138.0 billion by 2023 from $57.2 billion in 2017, at a 16.7% CAGR between 2018 and 2023. Though more-polluting than a battery electric vehicle (BEV), hybrid electric vehicles (HEVs) are cheaper than the former. This is because the battery, which is the most-important component of any EV, decides its final purchase cost. As the battery is not as important to an HEV as to a BEV, an HEV is a cost-effective option. Request to Get the Sample Report: https://www.psmarketresearch.com/market- analysis/hybrid-electric-car-market/report-sample Till now, Asia-Pacific (APAC) has been the largest hybrid electric car market, as the emission norms here are quite strict, government support for cleaner vehicles is rather strong, and awareness among people regarding carbon emissions is increasing. Moreover, APAC is already the largest producer and buyer of passenger cars, which has been one of the biggest reasons behind the high sales of hybrid electric cars here. With the growing disposable income in India, China, South Korea, and Indonesia, the sales of hybrid electric cars are expected to burgeon in the years to come. Make Enquiry Before Buying the Report: https://www.psmarketresearch.com/send- enquiry?enquiry-url=hybrid-electric-car-market Therefore, due to the stringent emission control norms and falling prices of batteries, the demand for hybrid electric cars is increasing around the world. This study covers •Historical and the present size of the hybrid electric car market •Major factors driving the market and their impact during the short, medium, and long terms •Market restraints and their impact during the short, medium, and long terms •Recent trends and evolving opportunities for the market participants •Historical and the present size of the market segments and understand their comparative future potential •Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

3. •Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders •Major players operating in the market and their service offerings •Recent strategic developments by the major players in the market About P&S Intelligence P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness. 3 ©P&SIntelligence.Allrightsreserved

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