Hybrid Electric Vehicles Market in the US 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 the HEVs market in the US to grow at a CAGR of 14.55% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the HEVs market in the US for 2015-2019. To calculate the market size, the report considers the unit shipments of hybrid electric cars in the market.
Technavio's report, HEVs Market in the US 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the US; it also covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market. Key Region
Technavio Announces the Publication of its Research Report – HEVs Market in the US 2015-2019
Technavio recognizes the following companies as the key players in the HEVs Market in the US: Ford Motor Co., Honda Motor Co. Ltd., Hyundai Motor Co., Toyota Motor Corp. and Volkswagen AG
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: “Emergence of HEVs with remote monitoring systems is one of the key trends upcoming in the market. HEVs with remote monitoring systems enable consumers to map their location and set start and end points. This system also helps in navigating heavy traffic areas. HEVs are also equipped with a data acquisition system that helps in monitoring the abilities of drivers and this helps to reduce accidents.”
According to the report, the growing popularity of EVs plays a crucial role in propelling market growth. Increased marketing and awareness of the benefits of EVs in recent years have augmented the adoption of HEVs in the market.
Further, the report states that the high cost of HEVs is the key concern that curtails market growth. The cost depends on usage and operations. The advanced technologies and larger battery packs used in HEVs add to the high cost.