Global Off-Highway Hybrid Commercial Vehicle Components Market 2014-2018
AbstractThe use of hybrid technology was prominent in passenger cars earlier; however, advances in technology have ensured its widespread adoption in vehicles other than passenger cars. Also, rise in fuel prices has shifted the focus of automakers toward this technology. The usage of hybrid technology in off-highway hybrid commercial vehicles is increasing. Many electronic and electrical components are used in off-highway hybrid commercial vehicles that ensure benefits to the consumers such as reduction in fuel consumption, energy management, and enhanced power output, which improves the productivity of vehicles.
TechNavio's analysts forecast the Global Off-highway Hybrid Commercial Vehicle Components market to grow at a CAGR of 57.87 percent over the period 2013-2018.
Covered in this Report
The report has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the Americas, the APAC region and the EMEA region; it also covers the market landscape and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.Key Regions
TechNavio Announces the Publication of its Research Report – Global Off-highway Hybrid Commercial Vehicle Components Market 2014-2018
TechNavio recognizes the following companies as the key players in the Global Off-highway Hybrid Commercial Vehicle Components Market: Dana Holding Corp., Eaton Corp. and ZF Friedrichshafen AG.
Other Prominent Vendors in the market are: BAE, Deutz, Henizmann and Maxwell.
Commenting on the report, an analyst from TechNavio’s team said: “Awareness among consumers regarding fuel economy and an increase in demand for fuel-efficient vehicles is one of the major trends in the market. Governments worldwide have made it mandatory for all OEMs to send data regarding fuel consumption by engines and obtain the necessary approvals from the competent authority. This has led to the invention of vehicles that have considerable fuel economy.”
According to the report, one of the major drivers in the Global Off-highway Hybrid Commercial Vehicle Components market is an increase in demand for off-highway hybrid commercial vehicles. The demand for hybrid vehicles is increasing owing to a rise in fuel prices and increased pressure from government authorities to reduce vehicle emissions.
Further, the report states that the battery issues of off-highway hybrid commercial vehicles is one of the major challenges faced by the market. As the battery is one of the major components of hybrid vehicles, its characteristics such as high prices and heaviness are affecting the demand for these vehicles and, subsequently, the Components market. The consumers' perception of hybrid vehicles is not positive as the associated high costs are not justified with the benefits offered.Dana Holding , Eaton , ZF Friedrichshafen , BAE Systems , Deutz , Heinzmann , Maxwell Technologies
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