TECHGuru

  According to the report, the global  hybrid cars market  is projected to surpass US$ 2.1 Trn by 2031, expanding at a CAGR of 21.9% during the forecast period. Hybrid vehicles can use either electric motor, internal combustion, or natural gas engine as their power source. The plug-in hybrid vehicles fall under zero-emission vehicles, which uses external power to charge their battery and other hybrid engines use IC engine to power their batteries. The   rising demand for fuel-efficient vehicles and increasing government regulations to curb vehicle emissions lead to rising in demand for electric and hybrid vehicles. The hybrid vehicles work on both electric motor engine as well as IC engine, as IC engines are mostly used to power the battery of the vehicles, which cause very less emission from the vehicles and hence, follows the government’s emission regulations. Whereas, plug-in hybrid vehicles powers their vehicle batteries by plugging batteries ...

  Global Hybrid Car Market: Snapshots  Alarming increase in level of air pollution has raised awareness among the consumers for environmental friendly product which are carbon free. Also, increasing awareness about the environmental friendly vehicles is likely to influence the demand of the global hybrid cars market in coming years.  On the other hand, the government are encouraging the use of the hybrid car in order to minimize the pollution through providing stringent emission standards for the car and also provides several incentives to the buys to support the growth. Highly expensive price of the car and easy availability of the hybrid car is another factor propelling the growth of this market in near future.  Strict implementation of policy is one of the important aspect driving growth. Also, high cost involved in the production of the hybrid car is one the key challenge faced by the manufactures operating in the hybrid car market. Imposing stringent ...