This market research report presents a comprehensive analysis of the global hybrid commercial vehicles market by considering growth in key regions such as Americas, APAC and EMEA. The key vendors analyzed in this report include Daimler, Hino, PACCAR and Volvo.
Technavio’s market research analysts estimate the global hybrid commercial vehicles market, to grow at a CAGR of more than 17% between 2016 and 2020. Hybrid technology is the latest trend in the automotive sector as it offers compliance with strict emission regulations and helps reduce fuel consumption. This has led hybrid powertrains systems rapidly gaining significance in many countries. The Americas leads the global market for hybrid commercial vehicles, accounting for 49% of the overall market revenue. Several advantages offered by these hybrid vehicles over conventional internal combustion engines (ICE) vehicles, is encouraging the use of hybrid vehicles in this region.
The new market research report from Technavio provides a breakdown and analysis of the hybrid commercial vehicles segments by technology.
“Growing use of Li-ion batteries is the latest trend gaining traction in the hybrid vehicles market. Most hybrid trucks and buses manufacturers are opting for Li-ion batteries as they have high power, increased capability of energy storage, enhanced safety, and higher life span. Li-ion batteries also provide high thermal stability in vehicles and enhanced power output at low currents. Moreover, the low-cost structure of Li-ion batteries is expected to increase their utilization in the coming years,” says Siddarth Jaiswal, Lead Analyst, Automotive, Technavio Research
Hybrid vehicles are equipped with electronic components, such as GPS navigation systems, modern powertrain systems, AC systems, power windows, and display drives giving real-time information about battery charge level. Also, there have been several improvements and innovations that have resulted in better storage capacity and lesser fuel consumption in hybrid commercial vehicles worldwide.
The leading vendors in the global hybrid commercial vehicles market are Daimler, Hino, PACCAR and Volvo. Competition in this market is expected to intensify during the forecast period, owing to incraeseing consolidation and development of innovative products. Players are competing to gain more market share through partnerships and are exploring new potential markets.
A more detailed analysis is available in the Technavio report, Global Hybrid Commercial Vehicles Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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