Hybrid heavy duty vehicles are hybrid electric vehicle designed for heavy duty applications on both on road and off-road conditions. Hybrid heavy duty vehicles use combustion engines in tandem with hybrid electric powertrain technology for power generation to achieve vehicle drive momentum. The electric motor does the work whereas the onboard range extender internal combustion engines keeps the battery charged in hybrid heavy duty vehicle as these vehicles are built for long journeys and heavy freight transportation. Hybrid heavy duty vehicles are equipped with larger tires and a flexible suspension system which leads to higher ground clearance ratio and supports these high-traction heavy duty vehicles to drive also on off-surfaced and bumpy roads. 

Majority of heavy duty vehicle are powered by fossil fuel which emit high levels of nitrogen oxide, emission particulates, and other emission pollutants which frequently leads to both chronic illness and premature death, especially in urban metropolitan areas and amongst the most vulnerable populations. This is the prime reason for the adoption of hybrid heavy duty vehicles. Moreover, traditional fossil fuel heavy duty vehicles are responsible for the rising transportation carbon emission. Further, rising fossil fuel cost, surging scarcity of crude oil, and emission norms and policies by regulatory bodies around the world against diesel and gasoline powered vehicles due to increasing pollution are prime reasons for customers shifting their preference toward greener vehicles. This is a key factor projected to accentuate the growth of the hybrid heavy duty vehicle market during the forecast period. Growing automation and application of machinery to shorten manual work in transportation, mining, construction, and infrastructure have propelled the application of hybrid heavy duty vehicles in these sectors. This is likely to offer lucrative opportunities to the hybrid heavy duty vehicle market in the near future. However, the high cost of hybrid heavy duty vehicles is a major factor anticipated to hinder the hybrid heavy duty vehicle market during the forecast period.

The global hybrid heavy duty vehicle market can be segmented based on hybrid type, vehicle type, technology, and region. Based on hybrid type, the market can be divided into mild hybrid and full hybrid. The full hybrid segment leads the global hybrid heavy duty vehicle market, mainly due to strict transportation emission regulations and policies concerning vehicular pollution.

Based on vehicle type, the global hybrid heavy duty vehicle market can be classified into bus and truck. Truck is a highly lucrative and attractive segment of the market. This is primarily due to its extensive usage in manufacturing, construction, infrastructure, and mining industry. Moreover, hybrid trucks are likely to witness significant adoption due to its long journey application. The segment is projected to continue expanding during the forecast period.

In terms of technology, the global hybrid heavy duty vehicle market can be bifurcated into series hybrid, parallel hybrid, plug-in hybrid, and series-parallel hybrid. Plug-in hybrid is likely to remain the fastest growing segment of the market due to technology advancements as it recharges the hybrid heavy duty vehicle by means of plug-in connection at the charging station, thereby curtailing the recharging complexity of the hybrid heavy duty vehicle.

Based on region, the global hybrid heavy duty vehicle market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific leads the hybrid heavy duty vehicle market. This is majorly due to rise in green vehicle program initiatives by governments in the Asia Pacific region in conjunction with transportation emission guidelines. In Asia Pacific, China, Japan, South Korea, India, and Australia are the prime contributors toward higher market share.

Prominent players operating in the global hybrid heavy duty vehicle market include AB Volvo, DAF, BYD Motors Inc., Danfoss, Daimler AG, Dongfeng Motor Corporation, Hino Motors, Ltd., General Motors, Ford Motor Company, Toyota Motor Corporation., Liebherr Group, Nissan Motor Corporation., Renault Trucks, Fiat Chrysler Automobiles, Volkswagen AG, Azure Dynamics Corp., MAN, and Nikola Motor Company.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.

REQUEST CUSTOMIZATION

Hybrid Heavy Duty Vehicle Market

Pre Book