Hybrid commercial vehicles use a combination of an IC engine and an electric motor to power the vehicles. The vehicle uses either a combination of both or the preferred engine as per requirement.
Hybrid powertrains offer more benefits, such as fuel economy and low operating costs, when compared to ICE vehicles. These factors are driving the market for hybrid commercial vehicles that run on both ICE and electricity. Hybrid commercial vehicles offer the best solution for fuel efficiency and lower pollutant emissions as a result of the start-stop system and regenerative braking mechanisms typical of these vehicles. The use of regenerative braking systems in micro hybrid vehicles also ensures a long life for the vehicle’s brake discs and pads as these do not wear out quickly.
The Americas held the major share of the global hybrid commercial vehicle market. North America was the major contributor to the market in the Americas, making it the top manufacturing country in this type of automobile. The country has been registering strong demand as the government and companies in the private sector are working to promote battery electric vehicles, using eco-friendly transport, and expanding distributor networks to increase the availability of hybrid vehicles.
In 2019, the market size of Hybrid Commercial Vehicle is xx million US$ and it will reach xx million US$ in 2025, growing at a CAGR of xx% from 2019; while in China, the market size is valued at xx million US$ and will increase to xx million US$ in 2025, with a CAGR of xx% during forecast period.
In this report, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Hybrid Commercial Vehicle.
This report studies the global market size of Hybrid Commercial Vehicle, especially focuses on the key regions like United States, European Union, China, and other regions (Japan, Korea, India and Southeast Asia).
This study presents the Hybrid Commercial Vehicle production, revenue, market share and growth rate for each key company, and also covers the breakdown data (production, consumption, revenue and market share) by regions, type and applications. history breakdown data from 2014 to 2019, and forecast to 2025.
For top companies in United States, European Union and China, this report investigates and analyzes the production, value, price, market share and growth rate for the top manufacturers, key data from 2014 to 2019.
In global market, the following companies are covered:
Market Segment by Product Type
Light Commercial Vehicles
Heavy Commercial Vehicles
Market Segment by Application
Key Regions split in this report: breakdown data for each region.
Rest of World (Japan, Korea, India and Southeast Asia)
The study objectives are:
To analyze and research the Hybrid Commercial Vehicle status and future forecast in United States, European Union and China, involving sales, value (revenue), growth rate (CAGR), market share, historical and forecast.
To present the key Hybrid Commercial Vehicle manufacturers, presenting the sales, revenue, market share, and recent development for key players.
To split the breakdown data by regions, type, companies and applications
To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
To identify significant trends, drivers, influence factors in global and regions
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
In this study, the years considered to estimate the market size of Hybrid Commercial Vehicle are as follows:
History Year: 2014-2018
Base Year: 2018
Estimated Year: 2019
Forecast Year 2019 to 2025