Hybrid Commercial Vehicle Market by Type and Geography - Forecast and Analysis 2021-2025

  • Published: Sep 2021
  • Pages: 120
  • SKU: IRTNTR43457
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The hybrid commercial vehicle market has the potential to grow by 529.93 thousand units during 2021-2025, and the market’s growth momentum will decelerate at a CAGR of 34.92%.

This hybrid commercial vehicle market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by type (LCVs and M and HCVs) and Geography (APAC, North America, Europe, South America, and MEA). The hybrid commercial vehicle market report also offers information on several market vendors, including AB Volvo, CNH Industrial NV, Daimler AG, Ford Motor Co., Isuzu Motors Ltd., Navistar International Corp., PACCAR Inc., Tata Motors Ltd., Toyota Motor Corp., and Volkswagen AG among others.

What will the Hybrid Commercial Vehicle Market Size be in 2021?

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Hybrid Commercial Vehicle Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The government efforts and stringent regulations on emissions is notably driving the hybrid CV market growth, although factors such as high upfront cost of hybrid CVs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the hybrid commercial vehicle industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

  • The introduction of stringent emission norms will be one of the major factors that will drive the growth of the market.
  • To reduce the levels of air pollution across the globe, several countries are introducing stringent emission norms. 
  • With different types of emission norms introduced by various countries, these regulations get tougher, which is increasing the sales of electric and hybrid vehicles.
  • The rising popularity of hydrogen fuel cell hybrids is one of the key market trends that will contribute to the growth of this market.
  • Hydrogen fuel cell vehicles (HFCVs) have gained popularity in recent years due to the huge investment in the development and promotion of technology by key manufacturers.
  • The mechanical aspect of fuel cells has easy functionality as it generates electricity by utilizing hydrogen and oxygen with water as a by-product. 

This hybrid commercial vehicle market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Hybrid Commercial Vehicle Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • AB Volvo
  • CNH Industrial NV
  • Daimler AG
  • Ford Motor Co.
  • Isuzu Motors Ltd.
  • Navistar International Corp.
  • PACCAR Inc.
  • Tata Motors Ltd.
  • Toyota Motor Corp.
  • Volkswagen AG

 

This statistical study of the hybrid commercial vehicle market encompasses successful business strategies deployed by the key vendors. The hybrid CV market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The hybrid commercial vehicle market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Hybrid Commercial Vehicle Market?

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61% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for hybrid commercial vehicles in APAC. However, the market growth rate in APAC will be slower than the growth of the market in other regions.

The growing adoption of EVs will facilitate the hybrid commercial vehicle market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Type Segments in the Hybrid Commercial Vehicle Market?

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The hybrid commercial vehicle market share growth by the LCVs segment will be significant during the forecast period. The rising traffic congestion is increasing the adoption of LCVs over M&HCVs for transporting cargo in urban areas. The growing adoption of LCVs in urban areas can be attributed to the rise in the home delivery sector. The ongoing developments in alternative powertrains in pickup trucks are one of the major reasons that are expected to drive the LCVs segment of the hybrid CV market during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the hybrid CV market size and actionable market insights on post COVID-19 impact on each segment.

 

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What are the Key Factors Covered in this Hybrid Commercial Vehicle Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive hybrid commercial vehicle market growth during the next five years
  • Precise estimation of the hybrid commercial vehicle market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hybrid CV industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of hybrid CV market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The hybrid commercial vehicle market growth will increase by $68.43 thousand units during 2019-2024.
The hybrid commercial vehicle market is expected to grow at a CAGR of 8.04% during 2019-2024.
Technavio has segmented the hybrid commercial vehicle market by type (LCVs and M and HCVs) and geographic (APAC, North America, Europe, South America, and MEA).
AB Volvo, CNH Industrial NV, Daimler AG, Dongfeng Motor Group Co. Ltd., Ford Motor Co., Hino Motors Ltd., Navistar International Corp., PACCAR Inc., Tata Motors Ltd., Volkswagen AG are a few of the key vendors in the hybrid commercial vehicle market.
APAC will register the highest growth rate of 54.32% among the other regions. Therefore, the hybrid commercial vehicle market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Japan
  • South Korea (Republic of Korea)
  • Germany
The key factors driving the hybrid commercial vehicle market growth are:
  • Decreasing prices of lithium-ion battery boost adoption of electric vehicles (EVs)
  • Small-sized Li-ion batteries with high density and high power
The hybrid commercial vehicle market vendors should focus on grabbing business opportunities from the lcvs segment as it accounted for the largest market share in the base year.
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