Hybrid Vehicles Market Trends: Know What Automakers Could Expect in 2019 and Beyond

With the increasing deployment of automobiles across the globe, manufacturers are implementing a forward-approach to address the rapidly transforming consumer demands. While the conventionally used vehicles continue to gain an innovative transformation, there a global shift of preference witnessed towards electrically-powered and hybrid vehicles. The increasing emission control initiatives and continual efforts towards achieving environmental efficiency are further supporting the progress of the hybrid vehicles market. Moreover, the continual government indications pertaining to the need to shift towards low emission vehicles with the help of regulations is further accelerating the future growth of the hybrid vehicles landscape.

Top 3 Trends That Could Ramp Up Hybrid Vehicles Market Growth

Hybrid vehicles landscape is growing robustly with the automotive giants shifting their focusing on hybrid and electric vehicles. On account of this, various innovations and technological advancements have been introduced with an aim to further boost the capabilities of hybrid vehicles. Various industry trends that could further bolster the expansion of the hybrid vehicles landscape are elaborated below.

  1. Diesel-based Variants Gaining Popularity

Although diesel technology is being spurned by manufacturers worldwide, certain automakers are observing a scope for diesel-based vehicles alongside electric vehicles in the future.

In light of this, some automakers are also introducing diesel-based variants of hybrid vehicles. For instance, Daimler officials stated that the company sees a sales share of up to 25% for purely battery-electric cars in 2025, which means that the remaining 75% would continue to have traditional combustion engine-powered vehicle fleet onboard, which would certainly be electrified. Mercedes planned to launch C and E-Class plug-in diesel hybrids with the help of its third-gen hybrid technology along with a diesel-based powertrain. This would be the company’s first diesel-hybrid production.

Kia Motors also planned to introduce its first 48V diesel mild-hybrid powertrain in 2018. This new diesel-based hybrid vehicle has been engineered to minimize emissions and is said to be a cost-effective alternative to standard hybrid powertrains.

Mazda Motor has also announced its plan to launch its first diesel-engine hybrid vehicle in 2020, which will be initially launched in Japan and Europe.

 

  1. Manufacturers Driving in Low-cost Hybrid Vehicles

In comparison with traditional automobiles, hybrid vehicles ensure energy saving. Such benefit over traditional cars has attributed to relatively high costs of hybrid vehicles. Automakers have sighted cost reductions as an effective means to enhance the competitiveness of hybrid vehicles.

Japan-based Suzuki Motor Corp. and Toyota Motor Corp. are targeting to reduce costs of developing full hybrid vehicles by combining their expertise and making joint investments for producing such eco-friendly cars. The aim is to offer affordable hybrid cars to the Indian market by reducing the cost of production.

Honda is another company with a similar aim. The company plans to introduce more affordable, mass-market, and volume-driven hybrid vehicles over the next three years.

 

  1. Empowering the Charging Infrastructure for Hybrid Vehicles

With the increasing adoption of low- or zero- emission vehicles, the globe has witnessed a tremendous need for proper charging infrastructure for hybrid and electric vehicles. A greater number of charging stations would help encourage the adoption of hybrid vehicles on a large scale. Major initiatives pertaining to support the expansion of hybrid and electric vehicle charging infrastructure are greatly witnessed worldwide, thereby promoting hybrid vehicle technology.

The FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles) scheme, for instance, having INR 10,000 crore in expense for over three years was implemented from April 2019. This scheme envisions to set up nearly 2700 charging stations across India.

Similarly, the New South Wales (NSW) government recently announced a five-year long plan which would envisage a $3 million co-investment with commercial partners and councils in fast charging points for hybrid vehicles as well as electric cars, on major regional strips.

More industry trends and noteworthy developments witnessed in the hybrid vehicles market are provided in a detailed market research study. To know more, readers can click here.