Global Hybrid Electric Vehicles (HEVs) Market 2015-2019
HEVs combine two energy sources: mechanical (ICE) and electrical. The size of a gasoline engine in HEVs is smaller than that in traditional vehicles. The combination of the two power sources helps achieve better fuel economy and performance. HEVs use efficient technologies such as regenerative braking that charges the battery by converting kinetic energy into electric energy. Many HEVs have start-stop systems that shut down the ICE when idle and restart it when needed, thereby reducing idle emissions.
Technavio’s analysts forecast Global HEVs market to grow at a CAGR of 10.53% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the global HEVs market for the period 2015-2019. To calculate market size, the report considers the unit shipments of hybrid electric cars.
Technavio's report, the Global HEVs Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers Japan, the US, and Europe (EU 28); it also covers the global HEVs market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. Key Regions
Technavio Announces the Publication of its Research Report – Global Hybrid Electric Vehicles (HEVs) Market 2015-2019
Technavio recognizes the following companies as the key players in Global Hybrid Electric Vehicles (HEVs) Market 2015-2019: Ford Motor, Honda Motor, Hyundai Motor, Toyota Motor and Volkswagen
Other Prominent Vendors in the market are: Daimler, General Motors, Mazda, Mitsubishi and Nissan Motors
Commenting on the report, an analyst from Technavio’s team said: “Advances in technologies over the years have led to increased usage of various battery-operated devices worldwide. This, in turn, has led to an increase in energy usage, especially batteries. HEVs are increasingly being equipped with various innovative features such as GPS navigation systems and modern powertrain systems as well as air-conditioning systems, power windows, and displays that give real-time information about the battery charge level. All these consume a substantial amount of battery power. Thus HEVs lose their battery power in a shorter time and therefore they require frequent charging. As a result, there is increased need for efficient and durable rechargeable batteries, which has led to a growth in the use of Li-ion batteries in HEVs.”
According to the report, in recent years, increased marketing by vendors and widespread education about the benefits of HEVs have helped these vehicles gain popularity among end-users. Several initiatives are being taken to create awareness among consumers about the energy efficiency and environmental benefits offered by HEVs such as reductions in air and noise pollution. For instance, Ford's website offers a detailed explanation about the benefits of electric vehicles and related technologies. Consumers can view videos, text, and cutaway diagrams to get insights on the technology and customize options as per their driving habits and needs. Thus, increased consumer awareness has fueled the demand for HEVs in recent years, which will boost the market growth in the future.
Further, the report states that the cost of these vehicles is expected to affect the growth of the market during the forecast period.
Ford Motor, Honda Motor, Hyundai Motor, Toyota Motor, Volkswagen, Daimler, General Motors, Mazda, Mitsubishi and Nissan Motors