Transparency Market
Research (TMR), A Market Intelligence And Research Firm, Has
Published A Research Study On " Light
Duty Hybrid Vehicles Market " A vehicle that utilizes
two or more different fuel sources to operate and to move the vehicle
is known as a hybrid vehicle. Such term is often referred to the
electric hybrid vehicles, which merge one or more electric motors to
an internal combustion (IC) engine. There are also other several
mechanisms to utilize the captured energy such as human–hybrid
(human-electric) vehicles. These vehicles are environmentally
friendly and are being promoted by automobile & automotive
manufacturers and local governments. Hybrid vehicles are often
powered by a number of sources such as solid combustibles, human
powered, CNG, LNG, hydrogen, electricity, electromagnetic fields,
petrol, diesel wind and solar power. These vehicles are designed
according to the power source and its availability. Light duty
vehicles are mainly used for city transport of as a personal vehicle.
Current hybrid light duty vehicle designs are an extension of
electric vehicles. In current development stage electric powered
vehicles don’t provide long run in a single charge. Similarly,
bio-fuel powered vehicles have constrained of power output. Light
duty hybrid vehicles provide an advantage over these problems and
provide more power as well as a good range in single go.
There are various
design modifications of hybrid vehicles such as light duty and heavy
duty. Light duty vehicles are further classified as hatchback cars,
bikes and others. According to the technology, light duty hybrid
vehicles can further be classified as human-electric powered
vehicles, petroleum-electric powered vehicles, bio-fuel-petroleum
powered vehicles and others. These vehicles are becoming a trend in
the North America and Europe industry. Thus, North America and Europe
automotive industries are leading in the light duty hybrid vehicle
market. However, considering the future possibility of cost reduction
in this market, Asia Pacific and RoW are likely to capture a
considerable market share in light duty hybrid vehicle market.
One of the major
driving factors of this market is growing awareness regarding the use
of emission free vehicles. However, current green powered vehicle
designs don’t allow producing the same power as that of petroleum
powered. Thus, such factors are creating the need of hybrid vehicles
in the light duty applications. Nevertheless, government initiatives,
incentive schemes and subsidies to promote less polluting vehicles
are also propelling the market. Conversely, higher cost of
manufacturing, unavailability of spare parts globally and market
domination by petroleum powered vehicles are holding back the market
in some areas. The market has been in a growing phase yet and is
likely to widen up the opportunities in the forecast period.
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PDF file of Light Duty Hybrid Vehicles Market :
The product
development in light duty hybrid vehicle market takes a lot of
technological advancement and requires high amount of capital.
Additionally, the research and development activities, employing high
skilled manpower and patent related issues hindered the new entrants
of small players in the market. Strategic joint ventures,
technological agreements can be seen among the big automakers come up
with the advance vehicles.
Some of the Major
Players dealing in light duty
hybrid vehicles market include Volvo (Geely), National Electric
Vehicle Sweden AB, Toyota Motor Corporation, BYD Auto Co., Ltd.,
Bayerische Motoren Werke AG (BMW), Chrysler Group LLC, Ford Motor
Company, Daimler-Benz AG, General Motors Company, Nissan Motor Co.,
Ltd., Hyundai Motor Group- Kia Motors Corporation (Hyundai-Kia),
Porsche (Volkswagen Group), PSA Peugeot Citroën, Audi – Bentley
(Volkswagen Group), Changan Automobile Company Limited, Honda Motor
Company, Ltd, TATA (Jagaur Land Rover), Mazda Motor Corporation,
Mitsubishi Corporation (Mitsubishi Motors) and Chery, Faw, Geely
among others.
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