Hybrid Cars Market 2016 Share, Trend, Segmentation and Forecast Hybrid Cars Market

Hybrid Cars Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024 Global Hybrid Cars Market: Snapshot The alarming increase in the levels of air pollution has raised concerns of people regarding carbon emissions, leading to their shift towards carbon-free products. Hybrid cars, which are eco-friendly vehicles that use electricity for their functioning, meet their demand perfectly. The increasing awareness about these eco-friendly vehicles among consumers is driving the global market for hybrid cars exponentially. The governments in various countries are also encouraging the adoption of hybrid cars by mandating stringent emission standards and providing various incentives and subsidies to buyers, which is likely to reflect positively on the sales of these vehicles in the near future. However, the high prices of hybrid cars and the easy availability of electric cars may restrain the overall growth of this market to some extent over the years to come. The global market for hybrid cars, which stood at US$102.88 bn in 2015, is anticipated to touch US$398.90 bn by 2024, rising at a CAGR of 16.50% between 2016 and 2024. View Report @ http://www.transparencymarketresearch.com/hybrid-cars- market.html Demand for Series Parallel Hybrid Cars to Remain Strong The main types of hybrid cars available in the global hybrid market are the series hybrid, parallel hybrid, plug-in hybrid, and series parallel hybrid cars. Among these, the demand for series parallel hybrid cars is higher than others at present. The scenario is expected to remain so over the forthcoming years, thanks to the superiority of series parallel hybrid cars in terms of efficiency. However, over the next few years, plug-in hybrid cars are likely to steal the limelight and witness the demand at a higher cumulative average growth rate, i.e. of more than 15% between 2016 and 2024. The increase in government initiatives providing tax incentives and subsidies for the purchase of plug-in cars, together with a surge in the installation of electric charging stations are predicted to fuel the demand for plug-in hybrid cars in the years to come.

Hybrid Cars Market 2016 Share, Trend, Segmentation and Forecast Hybrid Cars Market - Global Industry Analysis, Siz