Published By : 14 Dec 2015 | Published By : QYRESEARCH
The hybrid cars market is on a roll since the past few years as hybrid cars offer efficient fuel options as compared to the conventional fuels such as diesel and petrol. Implementation of Kyoto Protocol has motivated people to adopt vehicles running on alternate fuel sources. Increasing rate of adoption of cars running on alternative fuels has created new opportunities for the auto manufacturers. Leading players in the global hybrid cars market are focusing on developing new cars for the hybrid cars market.
The global hybrid cars market offers a wide range of hybrid models, Toyota Prius being on the leading position. Ford Fusion is another prominent car model in the global hybrid cars market. At present, the hybrid cars market holds a smaller share in the global automobile market. However, with many automobile manufacturers introducing new hybrid cars, the future of the global hybrid cars market is expected to be bright.
Reduced crude oil reserves and issues regarding environment degradation are two of the major factors encouraging automobile companies to invest more in the hybrid car market. Due to reduced crude oil reserves, demand for inexpensive transportation techniques has attracted new investments in this market. The governments of major countries have motivated adoption of hybrid vehicles. National agencies from across the globe have enforced new rules to offer attractive concessions on the purchase of hybrid cars, thus fuelling the global hybrid cars market.
Severe environmental regulations in Europe are expected to encourage more adoptions of the hybrid cars in this region in the years to come. Fluctuating prices of crude oil is another major factor expected to boost consumers to purchase hybrid vehicles. Fewer carbon deposits produced in the engine of hybrid cars make them a popular choice among many buyers. Replacement of expensive batteries is expected to be one of the major limitation for the growth of the hybrid cars market in the years to come. Availability of other economical fuel options including LPG and CNG acts as another restraint for the global market of hybrid cars.
Currently, developed economies are expected to generate more demand for the hybrid cars in the years to come. Many vehicle manufacturing companies have introduced efficient hybrid car models that have attracted consumers and allowed them to fulfill their driving demands. Leading players in the global hybrid cars market are expected to manufacture hybrid cars with engines that are more efficient than the conventional fuel engine.