To combat the negative effects of global warming and to reduce green house gas emissions, governments of several countries introduced norms to curb pollution and conserve natural energy resources. The introduction of stringent regulations on emissions and fuel efficiency across the globe has led to introduction of hybrid vehicles. Market for hybrid vehicles are categorized based on hybridization of the vehicles such as mild hybrid electric vehicles (HEV), full hybrid electric vehicles (HEV), and plug-in-electric vehicles (PHEV). Commercial, luxury sedan, SUV, mid-luxury, and entry-level are the various hybrid vehicles used around the world.
Hybrid vehicles comprise of transmission, electric motor, and inverter for propulsion of the vehicle. Declining cost of Li-ion batteries, introducing technologically advanced vehicles and promoting hybrid electric vehicles is leading the growth in hybrid vehicles. The rising demand for alternative fuel vehicles has propelled the promotion of hybrid vehicles. Economic growth in emerging countries and rapid infrastructure development are the key factors facilitating the growth in global hybrid vehicles market.
Ken Research Hybrid vehicles category provides an in-depth analysis on Hybrid vehicles, technological advancements in hybrid vehicles category, Hybrid Vehicle Battery market, Technological Upgradation for Battery Advancements, Market Share of the Major Players, Most Promising Hybrid Technology and many other areas.