Hybrid Vehicle Market Global Industry Size, Growth, Manufacturers, Segments and Forecast 2035

Bysham ambhore

Research Nester’s recent market research analysis on “Hybrid Vehicle Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global Hybrid Vehicle Market in terms of market segmentation by hybrid type, drivetrain, component type, vehicle type, and by region.

Growing Pollution Owing to Carbon Emission by Vehicles to Promote Global Market Share of Hybrid Vehicles

Access detailed report @ https://www.researchnester.com/reports/hybrid-vehicle-market/4772

The global Hybrid Vehicle Market is estimated to grow majorly on account of the growing pollution in the atmosphere owing to high carbon emissions by vehicles. Generally, the annual carbon emission from a car is around 4.6 metric tonnes in the United States. So, it can be assumed that typically a petrol car on roads gets 22 miles per gallon of fuel and runs roughly 11,500 miles annually. 8,882 grams of carbon dioxide is generated with every gallon of fuel. Therefore, hybrid vehicles are expected to grow as they have two engines and less fuel is used in them, this reduces Co2 emission from the tailpipe, as a result enhancing air quality and lowering carbon footprint.

Gasoline vehicles also emit not only CO2 but also various greenhouse gases. Methane (CH4), nitrous oxide (N2O), and hydrofluorocarbons are produced through leaks in automobile exhaust pipes and air conditioning systems. However, they can still have significant impacts as they have a higher global warming potential (GWP) than CO2. Therefore, governments around the world have set specific emissions standards that are expected to drive market growth. The Chinese government has initiated various vehicle emission standards such as China 5 and China 6 standards. These standards pose limits on multiple pollutants, including nitrogen oxides and hydrocarbons. China has also implemented a credit system to encourage the production and sale of hybrid and electric vehicles.

Some of the major growth factors and challenges that are associated with the growth of the global Hybrid Vehicle Market are:

Growth Drivers:

  • Surge in the Government Programs Promoting the Adoption of Hybrid Cars
  • Rising Petrol Prices

Challenges:

Major car manufacturers, such as Volkswagen, BYD, and Tesla are widely investing in battery electric vehicles and pure electric vehicles. Besides benefits, these cars delete the requirement for gasoline and combustion engines. Fuel cell electric cars also offer advantages such as net zero emissions, a long driving range, simple refueling, and silent operation. Therefore, the government has invented a few measures for the adoption of BEVs and FCEVs. Also, the high maintenance and repair cost of hybrid cars is anticipated to pose a limitation on the growth of the market in the upcoming times. These are some of the major factors anticipated to hamper the global market size of hybrid vehicles.

Access our sample report at: https://www.researchnester.com/sample-request-4772

By Vehicle Type, the global Hybrid Vehicle Market is segmented into commercial and passenger cars. The commercial segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. The growth of this segment can be attributed to thet growing electrification of commercial vehicles. A lot of people prefer the convenience of traveling in a commercial vehicle to their car. However, commercial buses and trucks are known to cause most of the automotive pollution. Demand for hybrid commercial vehicles is therefore expected to increase. Automakers around the world are making every effort to reduce their CO2 emissions and are working every day to develop vehicles that are more environmentally friendly. This trend is spreading rapidly in the commercial vehicle industry. As they always travel longer distances and follow pre-determined routes than private cars, there is a need for hydrogen trucks and buses. Commercial vehicles are therefore likely to switch to environmentally friendly energy sources shortly.