Global Hybrid Electric Vehicle Conversion Kit Market 2020-2024
Technavio has been monitoring the hybrid electric vehicle conversion kit market and it is poised to grow by 27.70 th units during 2020-2024 progressing at a CAGR of 13% during the forecast period. Our reports on hybrid electric vehicle conversion kit market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the enforcement of regulations, development in emerging markets driving conversion kit adoption, and development of grid-independent low-cost hybrid kit for light vehicles.
The hybrid electric vehicle conversion kit market analysis includes the application segment and geographic landscape.
Technavio's hybrid electric vehicle conversion kit market is segmented as below:
- Commercial vehicles
- Passenger cars
By Geographic Landscapes
- North America
- South America
This study identifies the growing development of solar hybrid electric cars as one of the prime reasons driving the hybrid electric vehicle conversion kit market growth during the next few years. Also, the growing development of simplified and lightweight conversion kits and increasing development of low-cost conversion kits will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our hybrid electric vehicle conversion kit market covers the following areas:
- Hybrid electric vehicle conversion kit market sizing
- Hybrid electric vehicle conversion kit market forecast
- Hybrid electric vehicle conversion kit market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hybrid electric vehicle conversion kit market vendors that include A123 Systems LLC, ALTe Technologies, Altigreen Propulsion Labs Pvt. Ltd., Enginer, EVDrive, Hybrid Design Services Inc., IX Energy Pvt. Ltd., KPIT Technologies Ltd., Odyne Systems LLC, and XL Hybrids Inc. Also, the hybrid electric vehicle conversion kit market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.