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2021
Hybrid Truck Market

Hybrid Truck Market by Technology (Parallel Hybrid, Series Hybrid, Series-parallel Hybrid and Plug-in Hybrid), Hybrid Type (Full Hybrid, Micro Hybrid, and Mild Hybrid), Vehicle Type (Light-duty trucks and Heavy-duty trucks): Global Opportunity Analysis and Industry Forecast, 2021–2030

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Dec 2021 | 159 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Hybrid trucks, also known as hybrid electric trucks, are driven by a combination of a petroleum internal combustion engine and an electric motor and battery
system. The advantages of this system are low fuel consumption, high efficiency, and fewer emissions. 
Hybrid trucks are built for heavy-duty usage in off-road and on-highway situations, and generally feature   flexible suspensions and larger tires. The key factors accelerating the growth of the global hybrid truck market include the adoption of advanced technologies in developed and developing
countries across the globe and the significant growth of the automotive industry.

Market Scope and Structure Analysis:

Report Metric

Details

  Market size available for years

  2020–2030

  Base year considered

  2020

  Forecast period

  2021–2030

  Forecast units

  Value (USD)

  Segments covered

  Technology, Hybrid Type, Vehicle Type and Region

  Regions covered

  North America, Europe, Asia-Pacific, LAMEA

  Companies covered

AB Volvo, Daimler AG, Nissan Motor Corporation, Azure Dynamics

Corp., Volkswagen AG, Renault Light duty trucks, DAF, BYD Motors

Inc., Danfoss, Dongfeng Motor Corporation, Hino Motors, Ltd., General

Motors, Nikola Motor Company, Fiat Chrysler Automobiles, Ford

Motor Company, Toyota Motor Corporation., Liebherr Group, MAN

 

COVID-19 Impact Analysis

  • The COVID-19 outbreak has widely disrupted the automotive industry. It has resulted in the shutdown of manufacturing facilities and a decline in the sales volume. Furthermore, it has put a halt to transportation activities for a long time because of various trade restrictions across the globe. These all activities have adversely affected the hybrid truck market. The budget allocation for R&D on the other hand is likely to be lowered, which will hamper the further innovation of hybrid trucks. Companies, however are taking precautionary measures to tackle the adverse effects of the outbreak.

Top Impacting Factors
Rise in prices of fossil fuels, increase in scarcity of crude oil, increase in automation and government regulations and policies against diesel and gasoline powered vehicles due to surge in pollution drives the growth of the global hybrid truck market. 
High cost and higher maintenance cost hinder the growth of the global hybrid truck market. 
Adoption of advanced technology in developed and developing nations across the globe and growth of automotive industry provide lucrative opportunities for the global hybrid truck market.
Market Trends 
Rechargeable Lithium-ion Batteries

  • Most hybrid vehicles use batteries to store the energy captured while applying brakes. They use this energy to drive the vehicle to accelerate. The battery in a heavy electric vehicle (HEV), on the other hand can only store a small amount of energy and is too heavy. To improve the efficiency of their hybrid vehicles, manufacturers have developed lithium-ion batteries. Lithium batteries are the most suitable existing technology and is the upcoming trend in the hybrid truck market. It has the ability to provide a large quantity of energy and power per battery mass and while also making them lighter and smaller than other rechargeable batteries. Other advantages of lithium-ion batteries include high energy efficiency, no memory effect, and a relatively long-life cycle compared to lead-acid and nickel-metal hydride batteries. The self-discharge rate of lithium-ion batteries is also lower than that of other types of rechargeable batteries so once charged, they will last longer. Furthermore, the development of lithium-ion batteries provides synergy with other clean energy technologies, potentially improving the reliability of solar and wind power. The use of lithium-ion batteries in hybrid vehicles is the newest trend and is expected to propel the overall hybrid trucks market, which will directly boost the automotive industry. 

Key Segments Covered: 

Segments

Sub-segments

  Technology

  • Parallel Hybrid
  • Series Hybrid
  • Series-parallel Hybrid
  • Plug-in Hybrid

  Hybrid Type

  • Full Hybrid
  • Micro Hybrid
  • Mild Hybrid

  Vehicle Type

  • Light-duty trucks
  • Heavy-duty trucks

  Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • UK
    • Italy
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the hybrid truck industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with challenges of hybrid truck market.
  • The current market is quantitatively analyzed from 2020 to 2030 to highlight the growth scenario of the hybrid truck market.
  • The report provides a detailed hybrid truck market analysis based on competitive intensity and the competition that will take shape in coming years.

Questions Answered in the Hybrid Truck Market Research Report:

  • Who are the leading market players active in the hybrid truck market?
  • What would be the detailed impact of COVID-19 on the market?
  • What are the current trends that would influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the hybrid truck market?
  • What are the future projections that would help in taking further strategic steps? 
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

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We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

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