Hybrid Vehicles Market Size - Fragmented Into Kinds And Regions

Increasing worries regarding massive ejections of carbon has led the worldwide industry of automobiles to come up with enhanced and developed vehicles. These vehicles run on optional fuels. The worldwide hybrid vehicles market is all set to witness expansion during the predicted phase. The predicted phase runs from 2012 to 2017. Hybrid vehicles are anticipated to grow decently, as they are well established around the world. They are also known as those vehicles that eject less carbon. The worldwide hybrid vehicles market was estimated to be worth USD 21 billion in 2011.

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It is anticipated to develop during the predicted phase. This is likely to happen at a CAGR of about 30 percent. The market is propelled ahead by boost in the worldwide costs of fuels based on petroleum, increasing proposals by various governments and constant advancements in battery technology. Reduction in the resources of fuels and the ejection policies of Europe also drive the market ahead. Absence of infrastructural support, performance and power and higher prices in opposition to ICE-vehicle consumer sectors are obstacles to the further improvement of the hybrid vehicles market conditions. The market is fragmented into kinds and geography. On the basis of kinds, the market is segmented into series, parallel, series/parallel, plug-in and two-mode or dual-mode hybrid vehicles. The hybrid vehicles market is divided on the basis of regions into Asia Pacific, North America, Europe and rest of the world. Hybrid Vehicles Market Size Source: Grand View Research