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Global Market Hybrid Vehicles is USD 1169.65 Billion during the Forecast Period

The Asia Pacific is anticipated to register the fastest growth during the forecast period as this region is highly populated and the majority of people are in the middle-class category who are the owners of hybrid vehicles. Moreover, the mass adoption of hybrid vehicle technology in countries such as China and Japan will propel the market growth of the hybrid vehicle market. It is home to various industry players such as Toyota, Honda, Nissan, Hyundai, and Kia.

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Global Market Hybrid Vehicles is USD 1169.65 Billion during the Forecast Period

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  1. Global Electric Vehicle Market

  2. About VynZ Research… • VynZ Research is a global market research firm offering research, analytics, and consulting services on business strategies. We have a recognized trajectory record and our research database is used by many renowned companies and institutions in the world to strategize and revolutionize business opportunities. The company focuses on providing valuable insights on various technology verticals such as Chemicals, Automotive, Transportation, Energy, Consumer Durables, Healthcare, ICT and other emerging technologies. • VynZ Research has one of the most qualified & experienced analysts, who are constantly tracking the markets and the technologies. The research team has years of proven experience and wide knowledge & understanding of the technology, application, business models, and regulators of the segments and the value chain involved. • A trusted & proven methodology that involves highest quality of primary research, secondary analysis collated & verified through various sources including cross checking with different industry experts. • Serving wide range of customers most of them from Fortune 2000 companies • With a dedicated 24x7 customer helpline our customers can reach for specifying their needs • Developing long term relationship with the clients and satisfying them is one of the crucial notches of the company. VynZ Research aims at gaining and retaining its clients in order to make long term customer relationship.

  3. Global Electric Vehicle Market The global electric vehicle market is expected to grow from USD 180.12 billion in 2020 to USD 801.76 billion by 2027, registering a CAGR of 21.6 % during the forecast period 2021-2027. Electric vehicle (EV) also called electric motors, is a self-propelling vehicle that needs one or more electric motors and makes its own electricity for propulsion. The global electric vehicle market is growing at a substantial rate, due to the rise in environmental pollution, rising demand for fuel-efficient vehicles, concerns regarding sustainable growth, and promising government strategies and supports. Different types of propulsion have contributed to the electric vehicle market size. The COVID-19 pandemic had a severe impact across all the verticals especially the automobile sector is severely impacted by it. The production and sales of new vehicles had come to a halt and OEMs resumed the production after the lockdown was lifted.

  4. Global Electric Vehicle Market Insufficient standardization, the short lifespan of the EV battery, lack of sufficient charging infrastructure, and stringent rules for the installation of charging stations are the major challenges for the growth of the electric vehicle market. In addition, limited vehicle range, longer charging time in comparison to other fuels, the high manufacturing cost of EVs, and the small distance traveled by EVs are the challenges faced by the electric vehicle market. Globally industry players are leveraging market growth through launching new products. Different players are investing in development of new battery technology to lower the cost of electric vehicles to compete against gasoline vehicles in terms of price and performance. In the coming years, industry leaders are anticipated to significantly lower the cost of these vehicles and enhance performance of these vehicles leading to adoption by masses.

  5. Global Electric Vehicle Market Key players in the electric vehicle market are catering to the demand by collaborating with small players, building strong distribution networks, invest in R&D to develop new products, and investing in technologically advanced EVs across the globe. Toyota launched the new LS and Mirai models in japan which come with advanced driving assist technology. BYD launched four new electric vehicle models equipped with Blade batteries in Chongqing. The new vehicle models, Tang EV, Qin Plus EV, Song Plus EV and E2 2021 come with advanced battery safety features. Tesla, BMW, Volvo, Nissan Motor, Toyota, Hyundai, Volkswagen, Ford, BYD Auto, Honda and Daimler are the key players offering electric vehicle.

  6. For Sample Report :- https://www.vynzresearch.com/automotive-transportation/electric-vehicle-market/request-sample www.vynzresearch.com

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