Global Hybrid Truck Market
Global Hybrid Truck Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 7.52% from 2019 to 2027, reaching nearly US$ XX Bn.
Global Hybrid Truck Market
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Global Hybrid Truck Market: Market Overview
A hybrid truck, is also known as hybrid electric trucks, use two sources of power to propel the vehicle, mainly combination of a petroleum-fueled internal combustion engine and an electric motor and battery system. The advantages of this system are attaining low fuel consumption, more efficiency and minimum emission. Hybrid trucks generally have flexible suspension and larger tires and are designed for heavy duty applications on off-road and on-road condition.
Global Hybrid Truck Market: Market Dynamics
The major factors which accelerate the growth of the global hybrid truck market include adoption of advanced technology in developed and developing nations across the globe and significant growth of automotive industry. Additionally, traditional heavy duty vehicles are responsible for rising air pollution by carbon emission, increasing the cost of fossil fuel are the factors which propel the growth of the market. Moreover, the strict rule and regulations on carbon emission and diesel is banned by many countries across the world which also boost the demand for hybrid truck over the forecast period.
However, high cost and higher maintenance cost is anticipated to hinder the growth of the market. The battery increases the cost of the vehicle as compared to gasoline and diesel vehicle. The disrupted supply-chain due to pandemic also hinder the growth of the market. Moreover, the increasing demand of autonomous and electric vehicle are adversely affecting the growth of the market.
Global Hybrid Truck Market: Market Segmentation
The global hybrid truck market is segmented by technology, by hybrid type, by vehicle type and by region. The plug-in hybrid segment of technology is the fastest growing segment as it uses advanced technology as it recharges the vehicle by means of plug-in connection at charging platform. The heavy-duty truck segment of vehicle type is projected to have the highest growth rate for its extensive usage in construction, infrastructure and mining, moreover the hybrid truck is used for long journey.
Global Hybrid Truck Market: Regional Analysis
Asia Pacific is dominating the global hybrid truck market due to high adoption rate of hybrid vehicle for its low emission and fuel consumption. Rising the sale of hybrid vehicle in emerging nations such as Japan, China, India fuel the growth of market in this region. Increase in the number of automotive manufacturing industries, entry of foreign automaker in developing nations drive the Hybrid Truck market. By the initiative and support of governments of this region for green vehicle and guidelines for low carbon emission anticipated the growth of the hybrid truck market during the forecast period. In terms of share of global market Asia Pacific is followed by North America and Europe.
The objective of the report is to present a comprehensive analysis of the Global Hybrid Truck Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Hybrid Truck Market dynamics, structure by analysing the market segments and projects the Global Hybrid Truck Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Hybrid Truck Market make the report investor’s guide.
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Global Hybrid Truck Market, by Technology
• Parallel hybrid
• Series hybrid
• Series-parallel hybrid
• Plug-in hybrid
Global Hybrid Truck Market, by Hybrid type
• Full hybrid
• Micro hybrid
• Mild hybrid
Global Hybrid Truck Market, by Vehicle type
• Light duty trucks
• Heavy duty trucks
Global Hybrid Truck Market, by Region
• Asia Pacific
Rest of Asia
• North America
Rest of Europe
• South America
Rest of South America
• Middle East & Africa
Rest of MEA
Global Hybrid Truck Market, Key Players
• AB Volvo
• Daimler AG
• Nissan Motor Corporation
• Azure Dynamics Corp.
• Volkswagen AG
• Renault Light duty trucks
• DAF, BYD Motors Inc.
• Dongfeng Motor Corporation
• Hino Motors, Ltd.
• General Motors
• Nikola Motor Company
• Fiat Chrysler Automobiles
• Ford Motor Company
• Toyota Motor Corporation.
• Liebherr Group
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