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May 29, 2020, 1:45 a.m. EDT

Hybrid Electric Vehicle (HEVs) Market | Global Industry Analysis, Share, Sales Revenue, Demand & Forecast by 2025

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May 29, 2020 (SUPER MARKET RESEARCH via COMTEX) -- The global hybrid electric vehicle market to register a CAGR of more than 45% during 2020-2025. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.

Hybrid electric vehicles (HEVs) are a type of vehicles that are powered by an internal combustion engine (ICE) and an electric motor. These vehicles use regenerative braking and automatic start-stop features that aid in preventing energy wastage. Furthermore, the excess energy from the engine is stored in batteries, thus resulting in better fuel economy. HEVs are considered an effective alternative to conventional vehicles as they require less power and produce low tailpipe emissions.

Market Trends

The rising environmental consciousness is one of the key factors driving the market growth. In addition to this, stringent governmental regulations regarding greenhouse gas (GHG) emissions and favorable policies supporting sustainable development are also catalyzing the demand for HEVs. For instance, governments of various countries are offering incentives, such as tax rebates, on the purchase of HEV, which is driving the market growth. Furthermore, manufacturers are focusing on introducing innovations, such as zero- and low-emission vehicles with soundless operations and high-performance engines, which is expected to create a positive outlook for the market in the coming years.

Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/hybrid-electric-vehicle-market/requestsample

Global Hybrid Electric Vehicle Market 2020-2025 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of the key players being Toyota Motor Corporation (TM), Honda Motor Company, Ltd. (HMC), Ford Motor Company (F), VOLKSWAGEN AG ST O.N. (VOW.DE), General Motors Company (GM), HYUNDAI MOTOR CO (HYMTF), NISSAN MOTOR CO (NSANY), etc.

For more information about this report visit: https://www.imarcgroup.com/hybrid-electric-vehicle-market

The report has segmented the market on the basis of Propulsion Type, Configuration Type, Vehicle Type, Power Source and Region.

Breakup by Propulsion Type:

  1. Full Hybrids

  2. Mild Hybrids

  3. Plug-in Hybrids

  4. Others

Breakup by Configuration Type:

  1. Series HEV

  2. Parallel HEV

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